Shares of Medigus Ltd. (MDGS) are rising over 41% in pre-market today, after the company announced that Polyrizion has filed a US patent application for formulations and methods for preventing viral infections by COVID-19 virus.
The patent application, US application no. 2005/0281775, refers to formulations and methods for preventing association or interaction of viruses with a mucosal membrane and for removal of viral particles therefrom.
In April 2020, Medigus announced the signing of binding letter of intent with Polyrizon Ltd. As part of the principal terms of the letter of intent, Medigus and Polyrizon would enter a commercial arrangement for the joint marketing and commercialization of Polyrizon products based on a revenue share model, focusing on a unique Biogel for the protection from COVID-19 virus.
The stock has been trading in the range of $0.83 - $5.15 for the past one year, and closed Tuesday's trade at $2.93, down 39 cents or 11.75%. MDGS is currently trading at $4.16, up $1.23 or 41.98% in the pre-market session.
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