BioPharmX Corp (NYSEAMERICAN: BPMX) is having an overwhelmingly strong start to the trading session this morning after announcing that it has received positive news from the United States Patent and Trademark Office (USPTO). Of course, as soon as investors got wind of the news, the stock started to make a run for the top. Today, we’ll talk about the news, what we’re seeing from the stock, and what we’ll be watching for with regard to BPMX ahead.
BPMX Announces Patent News
As mentioned above, BioPharmX is having an overwhelmingly strong start to the trading session after announcing that it has received positive news from the USPTO. In a press release issued early this morning, the company announced that the USPTO has granted the first in what the company expects will become a new family of patents. This patent family is designed to protect the novel topical gel delivery system developed by BPMX that allows for greater bioavailability of an active pharmaceutical agent.
In the release, the company announced that the patent, entitled “Pharmaceutical Tetracycline Composition For Dermatological Use,” covers a topical composition that is comprised of minocycline or other tetracycline-class drugs and a method for making such composition. In a statement, Anja Krammer, President and Co-Founder at BPMX, had the following to offer:
This patent protection is a significant milestone for BioPharmX… It recognizes that our development of a topica tetracycline-class drug, something that has eluded the pharmaceutical industry since minocycline was first commercially used in the 1970s, is truly unique.
And, like the other patents we hold, it will protect our valuable intellectual property for a substantial length of time. It recognizes the innovative research and development that BioPharmX has successfully completed and ensures that our company and investors will benefit from it as we commercialize our products.
What We’re Seeing From The Stock
As investors, one of the first lessons that we learn is that the news moves the market. In this particular case, the news proved to be overwhelmingly positive. After all, stronger patent protection for key assets is always a good thing. So, it’s no surprise to see that the stock is making a run for the top in the market today. As is almost always the case, our partners at Trade Ideas were the first to alert us to the gains. At the moment (9:48), BPMX is trading at $0.30 per share after a gain of $0.05 per share (21.19%) 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 BPMX. In particular, we’re interested in following the story surrounding the company’s growing IP protection as well as the continued development of the company’s pipeline products. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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