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Why Is Cardio Diagnostics (CDIO) Stock Up 5% Today?

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  • Cardio Diagnostics (CDIO) stock is getting a boost from patent news.
  • China has recognized one of the company’s intellectual properties (IPs).
  • This builds on its recognition in the U.S. and Europe.
CDIO Stock - Why Is Cardio Diagnostics (CDIO) Stock Up 5% Today?

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Cardio Diagnostics (NASDAQ:CDIO) stock is on the move Thursday after the company announced an expansion to its IP portfolio.

That comes after China’s Patent Office issued a Notice of Allowance to the University of Iowa Research Foundation for its “Compositions and Methods for Detecting Predisposition to Cardiovascular Disease” patent.

With this addition, Cardio Diagnostics expands the patent protection of its IP to China. Investors will note that the company already has similar patents protecting this IP in the U.S. and Europe.

Meesha Dogan, CEO of Cardio Diagnostics, said the following about today’s patent news:

“We are excited to receive the Notice of Allowance in China as it represents a significant step toward our goal to continue to expand and strengthen our IP position […] As a precision medicine company building solutions that are backed by a robust and growing IP portfolio, we are committed to improving healthcare outcomes globally.”

What This Means for CDIO Stock

Better protection for the company’s IP is a win for CDIO stock. Traders seem to agree as shares rise today with heavy trading. That has some 3.8 million shares on the move as of this writing. This is already above the company’s daily average trading volume of about 3.1 million shares.

CDIO stock is up 5.3% as of Thursday morning.

There’s more recent stock market news traders will want to know about below!

We’ve got all of the hottest stock market happenings worth reading about on Thursday! A few examples include why shares of Funko (NASDAQ:FNKO), Silvergate Capital (NYSE:SI) and MMTEC (NASDAQ:MTC) stock are moving today. You can learn more on these matters at the following links!

More Thursday Stock Market News

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On the date of publication, William White did not hold (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.


Article printed from InvestorPlace Media, https://investorplace.com/2023/03/why-is-cardio-diagnostics-cdio-stock-up-5-today/.

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