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ARCA Bio nabs European patent covering candidate AB171; shares ahead 25%

Published 11/16/2017, 10:40 AM
© Reuters.  ARCA Bio nabs European patent covering candidate AB171; shares ahead 25%
ABIO
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  • Thinly traded nano cap ARCA biopharma (ABIO +25%) jumps on a healthy 23x surge in volume in response to its announcement that the European Patent Office has issued it a new patent covering methods of treating cardiovascular disease and conditions with a thiol-substituted isosorbide mononitrate based on genetic targeting.
  • The company says the patent supports what it believes to be the pharmacogenetic target for AB171, a candidate for the treatment of peripheral arterial disease and chronic heart failure.
  • The company expects to launch CMC (chemistry, manufacturing and controls) activities in H1 2018 followed by preclinical studies to support an IND application.
  • Management adds that it has sufficient quick assets to fund operations through Q2 2018.
  • Now read: Emergent BioSolutions: More Than An Emerging Biotech


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