Zosano Pharma Corp (NASDAQ: ZSAN) is having an overwhelmingly strong day in the market today, and for good reason. The company announced that it has been issued a new patent. Of course, the news led to excitement among investors, sending the stock screaming for the top. Today, we’ll talk about the news, what we’re seeing from ZSAN, and what we’ll be watching for ahead.
ZSAN Gains On Patent News
As mentioned above, Zosano Pharma is having a strong day in the market after announcing that it has been granted yet another patent. In a press release issued this morning, the company announced that it has received a Notice of Allowance from the United States Patent and Trademark Office. The patent in question, 9,918,932 is titled “Method of Rapidly Achieving Therapeutic Concentrations of Triptans for Treatment of Migraines.” In a statement, John Walker, Chairman and CEO at ZSAN, had the following to offer:
We are pleased to have this important expansion of our patent estate for M207… This issuance supports our intellectual property strategy for our ADAM technology, and specifically M207. We intend to pursue similar patent coverage for future products that Zosano develops internally, and in future partnerships.
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 causes moves. In this particular case, the news released by Zosano Pharma proved to be overwhelmingly positive. After all, further patent protection is always a good thing in the world of biotech. So, it’s no surprise to see that the stock is making a run for the top. Of course, our partners at Trade Ideas were the first to alert us to the gains. Currently (9:45), ZSAN is trading at $8.11 per share after a gain of $2.65 per share or 48.57% 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 ZSAN. In particular, we’re interested in following the continued work surrounding M207 and the rest of the company’s products under development. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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