Anew Medical (NASDAQ:WENA) stock is taking off on Wednesday after the biologic medicines company announced it has secured a key patent in Europe.
This patent is connected to Anew Medical’s secreted Klotho gene sequence and gene delivery systems. These will be used to treat diminished cognition, memory loss, dementia, as well as other neurodegenerative diseases.
Anew Medical says it secured this patent after licensing the treatment from Universitat Autònoma de Barcelona (UAB) and Institució Catalana de Recerca i Estudis Avançats (ICREA). It also secured a similar patent for it in China on May 4, 2024.
Anew Medical founder and CEO Dr. Joseph Sinkule said the following about this news.
“We feel strongly about the significant potential of this therapy and have taken meticulous steps to protect and expand our licensed intellectual property in major global markets. These assets play a vital role in our international product development efforts for neurodegenerative diseases, including Alzheimer’s, Parkinson’s, Huntington’s, and ALS (Lou Gehrig’s disease).”
WENA Stock Movement on Wednesday
With this latest patent news comes heavy trading of WENA shares. That has more than 16.6 million trading hands as of this writing. This is well above the company’s daily average trading volume of about 217,000 shares.
WENA stock is up 144.2% as of Wednesday morning.
Investors will want to stick around for more of the most recent stock market stories today!
We have all of the hottest stock market news traders need to know about on Wednesday! Among that is what has shares of Syntec Optics (NASDAQ:OPTX) stock up, the biggest pre-market stock movers and more. All of that info is good to go at the links below!
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On the date of publication, William White 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.
