(RTTNews) - Shares of Bio-Path Holdings, Inc. (BPTH) are surging more than 295% Wednesday morning on the news of it receiving third U.S. patent related to manufacture of platform technology.
The new patent, granted by the United States Patent and Trademark Office, titled "P-ethoxy nucleic acids for liposomal formulation" builds on prevoius patents that protect the platform technology for DNAbilize, the company's novel RNAi nanoparticle drugs.
"We continue our efforts to build a fortress of protection around our technology as it safeguards our platform technology and target-specific technology, is a deterrent to would-be competitors and creates value around our core competencies," said Peter Nielsen, President and Chief Executive Officer of Bio-Path Holdings.
BPTH touched a new 52-week high of $24.34 this morning.
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