Precision Therapeutics Inc (NASDAQ: AIPT) is flying early on in the market this morning, and for good reason. The company announced news surrounding the issuance of a patent that’s clearly proving to be a source of excitement for investors. Today, we’ll talk about:
- The newly issued patent;
- what we’re seeing from AIPT as a result; and
- what we’ll be watching for ahead.
AIPT Announces New Patent
As mentioned above, Precision Therapeutics is having an incredibly strong start to the trading session this morning after the company announced news surrounding the issuance of a new patent. In a recent press release, the company announced that on July 11th, the Eurpoean Patent Office (EPO) granted the company a new patent. The patent, number 2948200 covers the company’s STREAMWAY® System, which is an automated, direct-to-drain medical fluid disposal system sold through the company’s Skyline Medical division.
Recently, AIPT has been working toward national validation of its European patent in 11 European countries. With the newly granted European patent, the company said that it is now confident that its intellectual property is protected as it moves forward with the sales strategy for the STREAMWAY® System. In a statement, Dr. Carl Schwartz, CEO at AIPT, had the following to offer:
We view this announcement as recognition of the unique benefits of the STREAMWAY System and validation of our belief that we have a one-of-a-kind offering that fulfils an unmet need in Europe. Our international expansion strategy is underway, led by our European Headquarters, which opened earlier this year, and supported by our strong team of in-house sales reps and local independent distributors. As we continue to grow our presence in Europe, we are pleased to have this patent in place to provide protection for our product.
What We’re Seeing From The Stock
One of the first lessons that we learn when we start to dig into the market is that the news causes moves. In the case of Precision Therapeutics, the news proved to be overwhelmingly positive. After all, with the newly issued patent, the company can rest assured that its IP is protected as it moves forward with a sales push for STREAMWAY® System. So, it’s no surprise that excited investors are pushing the stock toward the top this morning. At the moment (10:52), AIPT is trading at $1.40 per share after a gain of $0.15 per share or 12.16% 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 AIPT. In particular, we’re interested in following the story surrounding the commercialization process of the STREAMWAY® System, now that the product and IP behind it are fully protected. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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