Bio-Path Holdings News: Why BPTH Stock Is Soaring Today

Shares of Bio-Path Holdings (NASDAQ:BPTH) stock are soaring on Thursday after some major firm news.

a scientist with protective equipment and microscope in a lab
Source: luchschenF /

The biotechnology company announced that the U.S. Patent and Trademark Office issued a notice of allowance for a strategic patent for its leading candidate, prexigebersen. This patent covers its use “in combination with either a cytidine analogue, such as decitabine, or the Bcr-Abl tyrosine kinase inhibitors dasatinib and nilotinib.”

According to the release, prexigebersen is a liposomal formulation containing the antisense oligodeoxynucleotide targeting growth factor receptor-bound protein 2 (Grb2). What does this all mean? Well, this patent gives Bio-Path Holdings broad protection to use its prexigebersen drug as a treatment for a variety of cancers. It also gives it protection to use this drug in addition to other front-line treatments. As the market continues to search for new treatments, this should give BPTH stock a leg up.

While the drug gives Bio-Path Holdings protection to use prexigebersen against a variety of cancers, CEO Peter Nielsen had another important update. Investors should note that the drug is part of an ongoing Phase 2 clinical trial against acute myeloid leukemia (AML).

Here is what else Nielsen said about the news:

“This further strengthens our intellectual property portfolio and complements already granted patents. Our growing patent estate continues to be a valuable asset for Bio-Path as it provides protection not only for our core product portfolio and research efforts but now also offers broad protection in combination with established front-line therapies.”

BPTH stock was up 23.4% as of Thursday morning.

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On the date of publication, Nick Clarkson did not have (either directly or indirectly) any positions in the securities mentioned in this article.

Nick is a web editor at InvestorPlace.

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