Why this Peninsula drug maker’s stock soared 40% higher today

Shares of Myovant Sciences Ltd. soared as much as 55% Monday after the company this weekend unloaded fresh data around a drug for prostate cancer and said this morning that it is asking regulators to approve the same drug's use to treat women with uterine fibroids. The 214-employee company (NYSE: MYOV), with its main offices in Brisbane, said a late-stage prostate cancer study of its drug relugolix expanded on earlier findings, finding its once-a-day pill has a lower risk of heart problems compared…

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