Pernix Therapeutics Holdings Inc (NASDAQ: PTX) is having a great start to the trading session early on this morning. However, if you’re looking for press releases and SEC filings, you’ll be looking for a while. There’s none out there. Nonetheless, there’s a good reason for the gains. The company was awarded a patent on Tuesday. Today, we’ll talk about:
- The patent news;
- what we’re seeing from the stock; and
- what we’ll be watching for with regard to PTX ahead.
PTX Continues Skyward On Patent News
As mentioned above, Pernix Therapeutics is having a great start to the trading session this morning, but the company hasn’t released any news. Nonetheless, a press release should be coming soon, announcing a new patent that was issued on Tuesday.
On Tuesday, the USPTO released a document showing that patent number 10,143,676 has been granted to a PTX subsidiary by the name of Pernix Sleep. The patent is titled “Doxepin trans isomers and isomeric mixtures and methods of using the same to treat leep disorders.”
In the document, the USPTO mentioned that the patnet covers the use of trans-(E) isomer or isomeric mixtures that contain specific ratios of the trans-(E) and cis-(Z) isomers of doxepin, metabolites of doxepin, pharmaceutically-acceptable salts of doxepin and prodrugs of the same as well as compounds containing the same. In particular, these substances and compounds are covered by the patent as a treatment for sleep disorders.
While PTX hasn’t released any news about this patent as of yet, the USPTO document shows that the patent was awarded. So, it’s likely that the company will issue a press release soon, bringing the news to the masses.
What We’re Seeing From The Stock
One of the first lessons that we learn when we start to work in the market is that the news leads to moves. In the case of Pernix Therapeutics, the positive news released on Tuesday led to a strong run on the day it was released. While the market was closed yesterday, it is open yet again and the stock continues to run as investor excitement with regard to this patent continues. Of course, our partners at Trade Ideas were the first to alert us to the gains. Currently (9:40), PTX is trading at $0.77 per share after a gain of $0.20 per share or 33.91% thus far today.
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What We’ll Be Watching For Ahead
Moving forward, the iWatch Markets team will continue to keep a close eye on PTX. In particular, we’re interested in the announcement of the newly issued patent. We’ll also continue watching the company’s efforts with regard to Zohydro ER sales and the continued development of its pipeline candidates. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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