Bio-Path Holdings, Inc. (NASDAQ: BPTH) announced today that its lead product candidate, prexigebersen, in combination with front line cytidine analogues or Bcr-Abl tyrosine kinase inhibitors, has received the Notice of Allowance from the US Patent and Trademark office.
US Patent and Trademark Office issued a Notice of Allowance to those candidates which USPTO believes that they are qualified for a patent. Before receiving the patent any candidate developed by the biotech companies is considered ‘Patent Pending’.
Bio-Path Holdings’ prexigebersen is used to treat different types of cancers in combination with front-line therapies. Prexigebersen is a liposomal formulation holding the antisense oligodeoxynucleotide targeting growth factor receptor-bound protein 2 (Grb2).
The new patent labeled ‘Combination Therapy with Liposomal Antisense Oligonucleotides’ will enable the Bio-Path to use Prexigebersen for the treatment of cancer. This is the greatest achievement for the company as it strengthened its position in the market. Peter Nielsen, President, and CEO of Bio-Path said that this new patent not only protects the company’s core product portfolio but also provides protection in combination with established front-line therapies.
Bio-Path Holdings, Inc. (NASDAQ: BPTH) shares were trading up 25.18% at $5.12 at the time of writing on Thursday. It has a trading volume of 11.44 million as compared to the average volume of 161.74K. Bio-Path Holdings, Inc. (NASDAQ: BPTH) share price went from a low point of around $2.92 to briefly over $12.86 in the past 52 weeks. BPTH market cap has remained high, hitting $15.34 M at the time of writing.
The biotechnology company is currently engaged in a Phase 2 clinical trial of prexigebersen along with decitabine to treat acute myeloid Leukemia (AML). This new patent it has received for the unique combination by USPTO will secure its ongoing trial and also provide aid to the company to bring new treatment options to patients with AML.