Medication for low testosterone, often called “low-T,” is one of the most controversial drugs on the market. In spite of that, Clarus Therapeutics plans an $86.2 million initial public offering (IPO) for later this year.
This is the second time Clarus has pushed for an IPO. In 2011, Clarus had an IPO bid but had to pull it due to a declining life sciences market. Now, the market has reemerged and Clarus is planning a big IPO.
The drug they are planning an IPO for this time around is called Rextoro. The Food and Drug Administration (FDA) has not yet approved the oral testosterone drug yet, but Clarus Therapeutics hopes to have it approved by November. Once approved, company managers will file their IPO.
The announcement has caused many people, including our team of Pennsylvania dangerous drug attorneys, to raise their eyebrows. Right now, Rextoro is in phase IV trials. There are a number of safety concerns surrounding low-T medications. Most recently, Clarus revealed that two men suffered heart attacks and two others had serious reactions to Rextoro during the clinical trials.
Low-T has been in the spotlight of marketing campaigns for the drug company. Many older men latch on to the idea that low-T drugs could help overcome lower muscle mass, flagging energy levels, and diminished libido. There is a clear market for the drugs; sales of low-T drugs have tripled nationwide.
Although doctors agree that the drug can increase muscle mass, energy, and libido, many also warn of the high risk for heart attacks and cardiovascular disease. Until more research is done on this dangerous drug, we encourage anyone considering taking medication for low testosterone to think twice.