CervoMed Inc. (CRVO) stock surged 61.45 percent, or $2.34, to $6.15 on Thursday after the clinical-stage biotechnology company announced it received a notice of allowance from the U.S. Patent and Trademark Office for a new patent covering the use of its lead drug candidate, neflamapimod, in treating dementia with Lewy bodies (DLB) patients without substantial Alzheimer's disease-like tau pathology, commonly referred to as "pure DLB."
The stock is currently trading at $6.15, compared with its previous close of $3.81 on the Nasdaq. Shares opened at $4.68 and traded between $4.61 and $7.35 during the session. Trading volume reached 49.25 million shares, significantly above the average daily volume of 3.49 million shares.
The announcement also reinforces CervoMed's strategy of targeting patients with pure DLB, a condition for which there are currently no approved treatments in the United States or European Union.
CRVO shares have traded between $2.13 and $13.13 over the past 52 weeks.
For comments and feedback contact: editorial@rttnews.com
Business News
June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.