Achieve Life Sciences Inc (NASDAQ: ACHV) is having a great start to the trading session early in the pre-market hours this morning, and for good reason. The company announced that it has been granted a new patent, exciting investors and sending the stock on a run for the top. Today, we’ll talk about:
- The new patent;
- what we’re seeing from ACHV stock as a result; and
- what we’ll be watching for ahead.
ACHV Makes A Run For The Top On New Patent
As mentioned above, Achieve Life Sciences is having a great day in the market today after the company announced the receipt of a new patent. The announcement was made via press release early this morning.
In the press release, ACHV said that the United States Patent and Trademark Office has granted patent No. 10,300,050. The patent relates to succinate salt of cytisinicline and the use of it.
This is very important news. After all cytisinicine is the company’s flagship product candidate, being developed as a smoking cessation aid. This patent also follows the grant of the same invention in the United Kingdom. Also, patents are pending in Europe, Japan, China, Australia, Canada and South Korea.
In a statement, Rick Stewart, Chairman and CEO at ACHV, had the following to offer:
It is particularly important as we advance the cytisinicline clinical development program that we continue to expand our intellectual property portfolio through patent extensions to protect the value associated with our smoking cessation franchise.
What We’re Seeing From The Stock
One of the first lessons that we learn when we start to work in the market is that the news leads to moves. When it comes to Achieve Life Sciences, the news proved to be incredibly positive.
After all, the new patent will furhter assist in the protection of the company’s IP as it gets closer and closer to marketing its smoking cessation aid. So, it’s not surprising to see that excited investors are pushing the stock up in the market this morning.
As is just about always the case, our partners at Trade Ideas were the first to alert us to the gains. Currently (7:52), ACHV is trading at $4.30 after a gain of $0.14 per share or 3.37% thus far today.
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will continue to keep a close eye on ACHV. In particular, we’re interested in following the story surrounding the company’s continued work to bring cytisinicline to market, while building strong IP protection. Nonetheless, we’ll keep a close eye on the story and bring the news to you as it breaks!
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