Shares of Bio-Path Holdings, Inc. (BPTH) are up more than 6% Tuesaday morning after the company announced that the United States Patent and Trademark Office has granted a new patent relating to the company's BP1003 program.
BP1003 is a novel liposome-incorporated oligodeoxynucleotide inhibitor against signal transduction and activator of transcription-3.
"This mechanistic patent protects our position and underscores the novelty of BP1003's ability to inhibit STAT3, a protein known to be overly expressed in a number of the most difficult to treat cancers such as pancreatic cancer (PDAC), non-small cell lung cancer (NSLCL) and acute myeloid leukemia (AML), among others. We are looking forward to advancing BP1003's development in pancreatic cancer, which we expect to begin next year," said Peter Nielsen, President and Chief Executive Officer of Bio-Path Holdings.
BPTH is currently at $6.83. It has traded in the range of $3.12- $24.34 in the last one year.
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