5 Dumbest Things on Wall Street This Week: April 5

5. Repros Reproach

Markets were closed last Friday in honor of Good Friday. Luckily for us, Repros Therapeutics ( RPRX) CEO Joe Podolski generously provided more than enough dumbness last Thursday to tide us through the long holiday weekend.

On a conference call last Thursday morning, Podolski told analysts that his experimental testosterone drug Androxal helped gay Cubans have more sex. The gay Cubans entered the clinical trial with low testosterone, according to Podolski, yet after taking Androxal, their testosterone levels soared, leading to lots and lots and lots of sex.

Seriously, we're not joking. We may kid about a lot of things, but gay Cuban sex is not one of them.

Anyway, Podolski said the gay Cuban men had so much sex that it caused their sperm counts to drop precipitously. But he urged the crowd not to blame the plunge on Androxal. Podolski maintained instead that the lower sperm counts were the result of the gay Cubans having so much sex that their ammunition ran low.

What more can we say Dumbest fans? Res ipsa loquitur .

And if that wasn't enough, TheStreet's Adam Feuerstein reported that at another point during the conference call, Podolski disclosed that a nurse at one of the Androxal clinical trial sites fabricated baseline sperm counts for patients. When Repros discovered the data fraud, the company changed the fishy numbers and everything turned out fine.

A second phase III study of Androxal is under way with enrollment expect to wrap in May. Podolski insisted the data announced Thursday should convince investors that the second study will also be positive.

Repros bulls are probably looking forward to the next report and not just for its racy content. Shares of the stock spiked nearly 80% on Podolski's pronouncements despite the trial's inconsistencies and the missing Androxal data.

Then again, fundamentals aren't really a factor when it comes to Repros stock. Nearly half the company's shares have been sold short, opening up the possibility for the bulls to once again squeeze the bears where it hurts.

And that can't be good for their sperm counts either.

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