Matinas BioPharma Holdings Inc (NYSEAMERICAN: MTNB) is having an overwhelmingly strong start to the trading session this morning, and for good reason. The company announced that it has been issued a new patent, further protecting its IP and exciting investors. Of course, this excitement is leading to gains. Today, we’ll talk about:
- The patent;
- what we’re seeing from MTNB as a result; and
- what we’ll be watching for with regard to the stock ahead.
MTNB Is Climbing On Patent News
As mentioned above, Matinas BioPharma is having an incredibly strong start to the trading session this morning after the company announced that it has received a patnet. In a press release issued early this morning, the comapny said that the United States Patent and Trademark Office has issued U.S. Patent No. 10,058,521. The patent, entitled, “Omega-3 pentaenoic acid compositions and methods of use” provides additional protection for the company’s MAT9001.
MAT9001 is being developed by MTNB as a prescription-only omega-3 fatty acid-based composition for the treatment of cardiovascular and metabolic conditions. The patent will provide protection for the treatment through the year 2033.
The patent claims cover the company’s methods relating to reducing triglyceride levels, total cholesterol, VLDL-cholesterol or apolipoprotein C-III by adminstering a pharmaceutical composition comprising of omega-3 fatty acids. In a statement, Jerome D. Jabbour, CEO at MTNB, had the following to offer:
Recent developments in the cardiovascular space have placed renewed focus on MAT9001, our proprietary and purposefully designed omega-3 product. Over the past few years, we continued to be diligent in the prosecution of important intellectual property covering our MAT9001 product and the ongoing expansion of our intellectual property portfolio is an integral aspect of our development strategy. Given the clinical data generated from a head-to-head study of MAT9001 demonstrating superiority versus Vascepa® (icosapent ethyl) in reducing triglycerides, total and non-HDL cholesterol, apolipoproteins and PCSK9 levels, we are very excited about the prospects for our potential best-in-class drug in this emerging drug class. We are committed to further exploring a variety of interesting and value-creating opportunities for the development and ultimate commercialization of MAT9001.
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. In the case of Matinas BioPharma, the news proved to be overwhelmingly positive. After all, investors like to invest in companies with products that they are able to protect. This new patent provides key IP protection for the company. So, it comes as no surprise that excited investors are pushing the stock upward in the market this morning. Of course, our partners at Trade Ideas were the first to alert us to the gains. Currently (9:29), MTNB is trading at $1.08 per share after a gain of $0.28 per share or 34.31% 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 MTNB. In particular, we’re interested in following the continued development of MAT9001 as data has been positive and this new patent provides further protection. Nonetheless, we’ll continue to follow the story closely and bring th enews to you as it breaks!
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