Prana Biotechnology Secures Crucial Patents In Europe and the U.S.
August 25, 2010 · Filed Under generic drugs
Prana Biotechnology (NASDAQ: PRAN) is up 8.77% a half hour before close after announcing this morning that it had secured several key patent extensions from the United States Patents and Trademark Office (USPTO) and the European Patent Office (EPO). The company recieved received up to 2.5-year extensions for its PBT2 line, which has been used to treat Alzheimer’s disease. The extension was granted in part because it is now considered a valid treatment for Huntington’s disease as well.
The company has traded 44,529 shares in volume, above it’s average volume of approximately 40 thousand. PRAN, which is currently priced at $1.18 is close to its 52-week low of $1.02.
-Michael B. Sauter
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