Pernix Therapeutics Holdings Inc (NASDAQ: PTX) is having an incredibly strong afternoon in the market today. However, if you’re looking for SEC filings or press releases that would explain the reason for the gains, you’re not going to find any. Nonetheless, there’s a very good reason for the gains. Today, we’ll talk about:
- Why PTX is headed up;
- what we’re seeing from the stock; and
- what we’ll be watching for ahead.
PTX Subsidiary Receives Patent
As mentioned above, Pernix Therapeutics is having a strong day in the market today. However, the company hasn’t released any news. Nonetheless, there is likely news coming in the after-hours tonight or pre-market tomorrow.
That’s because the United States Patent and Trademark Office just released a document with regard to a newly issued patent. The patent was provided to PTX subsidiary, Pernix Sleep.
The patent, number 10,143,676, is titled “Doxepin trans isomers and isomeric mixtures and methods of using the same to treat sleep disorders.” In particular, the patent 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.
Nonetheless, this news is very new. In fact, PTX hasn’t issued a press release informing investors of the granted patent quite yet. So, this run could have more room ahead.
What We’re Seeing From The Stock
One of the first lessons that we learn when we start to dig into the market is that the news leads to moves. When it comes to Pernix Therapeutics, the news proved to be overwhelmingly positive. After all, a newly issued patent is just about always a good thing. Investors love to invest in companies with strong intellectual property protection, especially in the biotechnology space. So, it’s not surprising to see that the stock is running for the top in the market today. At the moment (12:27), PTX is trading at $0.48 per share after a gain of $0.074 per share or 18.20% 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 following to see when the company announces the news of the new patent. We’re also interested in following the continued development of the newly-patented treatment as well as sales of Zohydro. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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