Shares of Indaptus Therapeutics (NASDAQ:INDP) stock are taking off on Wednesday after positive news regarding the firm’s HBV and HIV treatments.
The United States Patent and Trademark Office issued a notice of allowance for claims related to Indaptus’ platform technology. Additionally, the patent “provides broad protection for the application of the Company’s platform technology alone and in combination with standards of care for the treatment and inhibition of hepatitis B virus (HBV) and human immunodeficiency virus (HIV) infections.”
This is a massive update for the company, and it shows in the comments from the firm’s executive team.
“We are delighted to expand our growing patent estate and this notice of allowance provides further validation of the novel approach of our Indaptus platform technology as it relates to viral infections,” Dr. Michael Newman, founder and chief scientific officer of Indaptus Therapeutics said.
“This notice of allowance gives us the optionality to confidently pursue our technology in viral diseases and/or to partner it for further development,” Jeffrey Meckler, CEO of Indaptus Therapeutics, stated.
Overall, the company’s pipeline lives by the thought that highly efficient treatment “will require safe activation of both innate and adaptive immunity in both tumors or sites of infection,” along with other important factors.
That being said, Indaptus also said that its single-agent therapeutics derived from it platform have produced “significantly broader” activity than standard of care treatment in a pre-clinical model of chronic hepatitis B infection, as well as single-agent activity against chronic HIV infection in a pre-clinical humanized mouse model.
INDP stock was up more than 250% as of Wednesday afternoon.
On the date of publication, Nick Clarkson did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
Nick Clarkson is a web editor at InvestorPlace.