Clarus Therapeutics Shares Jump 25% On Issuance Of Two New Patents

Shares of Clarus Therapeutics Holdings, Inc. (CRXT) jumped over 25% on Tuesday morning after the pharmaceutical company announced that the US Patent and Trademark Office issued two new patents for claims that cover Clarus' oral testosterone replacement product, Jatenzo.

CRXT is currently trading at $6.56, up $1.35 or 25.98%, on the Nasdaq, on a heavy volume of 10.2 million shares, above average volume of 2.4 million shares. The stock has traded between $3.43 and $31.24 in the 52-week period.

Patent No. 11,179,403 entitled "Oral Testosterone Ester Formulations and Methods of Treating Testosterone Deficiency Comprising Same" and patent No. 11,179,402 entitled "Pharmaceutical Delivery Systems for Hydrophobic Drugs and Compositions Comprising Same" both cover Clarus' approved product Jatenzo. The new patents will expire in 2030 and 2026, respectively.

"These new patents broaden the patent estate for our lead commercial asset, JATENZO, and will bring the total number of patents listed in FDA's Orange Book to seven," said CEO Robert Dudley. "We believe these new patents serve to reinforce the already strong intellectual property portfolio for JATENZO as we continue our focus on current life cycle management programs and those planned for the future."

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