Pulmatrix Inc (NASDAQ: PULM)
Pulmatrix is spiking in the morning session, currently up over 35% to $3.76 a share (11:11EST). PULM traded as high as $3.90 earlier in the session. Our partners at Trade Ideas provided the trading alert.
What’s The Deal?
For PULM, the news is a milestone. The company announced that the EU has granted the company a key patent covering PULM’s proprietary method of delivering drugs directly to the lungs, eliminating compromised dosing of drugs that often get caught in the throat or mouth. PULM’s technology uses dry powders that “fly” easily into the lungs, delivering maximum dose and increasing potential efficacy of the treatment. The technology is expected to prove useful for a variety of drugs, maximizing therapeutic benefit with efficient delivery to the lungs.
Robert W. Clarke, Ph. D., CEO of PULM, stated, “This new patent shows our continued ability to obtain patents that protect our unique iSPERSE inhaled drug technology—and that also reflect the advances we are making in drug delivery,” He continued by saying, “It gives us a strong intellectual property protection position in Europe as we move forward with our drug candidates for COPD, fungal infections, and other diseases.”
The new EU patent granted to PULM, (EP 2410981 B1) , fortifies and follows on similar patents that Pulmatrix has been granted in the United States and Japan. PULM’s most important patent is US 9,433,576, which provides broad protection to PULM’s innovative drug delivery technology—and to its use to treat a wide variety of diseases.
What Now For PULM?
The patent news is validating, and for a company like PULM, this type of broad drug delivery technology may lead to lucrative partnership potential. With the lungs requiring acute attention when being treated, adding the ability to maximize dosage and to directly target the therapy in the lungs is a milestone achievement.
With the stock trading 35% higher on strong volume, investors like what they see and clearly recognize the potential that the patent may bring to PULM.
CNA Finance will keep followers posted of any breaking news on PULM.
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