Why Organon & Co. Stock Popped Today

Organon & Co. OGN shares traded higher on Wednesday after the company announced the availability of XACIATO 2% by prescription.

What To Know: Organon announced the news regarding the colorless single-dose vaginal gel on Wednesday before the market open, sending shares sailing higher.

XACIATO can be applied at any time and is formulated to reduce leakage and increase vaginal retention time. It increases viscosity at body temperature and gradually releases clindamycin, over time, according to an in vitro study using clindamycin HCl.

"As a company focused on women's health, we make it a priority to listen to women and their providers, so that we understand their needs and put forward innovative solutions," said Juan Camilo Arjona Ferreira, head of Research & Development and CMO at Organon.

"What drew us to XACIATO is that it was formulated with specific needs in mind and studied in a patient population that was representative of women with BV."

OGN Price Action: Shares of Organon were up 6.17% at $17.20 at the close of the market Wednesday, according to Benzinga Pro.

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