K-V Pharmaceuticals Adds Another 27% (KV.A)

K-V Pharmaceuticals KV is probably the hottest stock on the planet right now. The shares have added another 27% on Tuesday, and the company now has a market cap of $634.72 million. Year-to-date, the stock is up around 400%. The catalyst for the move in the shares was the FDA approval of its drug, Makena, to treat pre-term birth on February 4. The company had previously secured the rights to the drug from Hologic HOLX.

Since the approval, KV.A has continued to rise as the company has stabilized its financing through stock and debt sales. Today, the company announced a Comprehensive Patient Assistance Program for Makena. This appears to be the catalyst for the sharp move higher in the share price. The drug will be available for prescribing on March 14.

"Prior to FDA approval of Makena, women who could benefit from therapy may have faced barriers to access due to the absence of a commercially-available, FDA-approved product," said Greg Divis, Chief Executive Officer, K-V Pharmaceutical Company and President, Ther-Rx Corporation. "We established this comprehensive patient assistance program as part of our commitment to ensure that all eligible women have access to FDA-approved Makena. Ther-Rx recognizes the importance of ensuring that the process of prescribing and obtaining Makena be as easy as possible for healthcare providers and patients," said Divis. "We look forward to providing our customers with an outstanding level of support for Makena."