Ownership Submission
FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
Efficacy Capital, Ltd.
   2. Issuer Name and Ticker or Trading Symbol
REPROS THERAPEUTICS INC. [RPRX] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director __X__ 10% Owner
_____ Officer (give title below) _____ Other (specify below)
(Last)
(First)
(Middle)
11622 EL CAMINO REAL, SUITE 100		 3. Date of Earliest Transaction (Month/Day/Year)
10/16/2007
(Street)

SAN DIEGO, CA 92122		 4. If Amendment, Date Original Filed(Month/Day/Year)
 6. Individual or Joint/Group Filing(Check Applicable Line)
___ Form filed by One Reporting Person
_X_ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)		 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code
(Instr. 8)		 4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)		 5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)		 6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)		 7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Common Stock 10/17/2007   P   62,600 A $ 12.44 $ 1,526,013 I By investment funds (1)
Common Stock 10/18/2007   P   21,900 A $ 12.481 $ 1,547,913 I By investment funds (1)
Common Stock 10/19/2007   P   40,500 A $ 12.336 $ 1,588,413 I By investment funds (1)
Common Stock 10/22/2007   P   25,000 A $ 12.182 $ 1,613,413 I By investment funds (1)
Common Stock 10/23/2007   P   25,000 A $ 12.534 $ 1,638,413 I By investment funds (1)
Common Stock 10/24/2007   P   25,000 A $ 12.549 $ 1,663,413 I By investment funds (1)
Common Stock 10/25/2007   P   17,000 A $ 12.689 $ 1,680,413 I By investment funds (1)

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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)		 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code
(Instr. 8)		 5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)		 6. Date Exercisable and Expiration Date
(Month/Day/Year)		 7. Title and Amount of Underlying Securities
(Instr. 3 and 4)		 8. Price of Derivative Security
(Instr. 5)		 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)		 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)		 11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
Efficacy Capital, Ltd.
11622 EL CAMINO REAL
SUITE 100
SAN DIEGO, CA 92122		     X    
Lappe Mark
11622 EL CAMINO REAL
SUITE 100
SAN DIEGO, CA 92122		     X    
Kayyem Jon Faiz
11622 EL CAMINO REAL
SUITE 100
SAN DIEGO, CA 92122		     X    
Efficacy Biotech Fund L.P.
11622 EL CAMINO REAL
SUITE 100
SAN DIEGO, CA 92122		     X    
Efficacy Biotech Fund LTD
11622 EL CAMINO REAL
SUITE 100
SAN DIEGO, CA 92122		     X    
Efficacy Biotech Master Fund Ltd.
11622 EL CAMINO REAL
SUITE 100
SAN DIEGO, CA 92122		     X    

Signatures

 /s/ Efficacy Capital Ltd. By: Mark Lappe Managing Partner   11/02/2007
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) Includes 1,533,013 shares held by Efficacy Biotech Master Fund Ltd., a Bermuda Exempted Mutual Fund Company and 147,400 shares held by FMG Special Situations Fund. The Reporting Company acts as an investment advisor with investment and voting discretion over portfolio investments. The Reporting Company is an indirect beneficial owner of the reported securities.
 
Remarks:
Exhibit List Exhibit 99 - Joint Filer Information

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