What's Going On With Tenax Therapeutics Shares?
Portfolio Pulse from Nabaparna Bhattacharya
Tenax Therapeutics, Inc. (NASDAQ:TENX) shares surged over 10% in premarket trading following a 31% gain in the previous session. The increase comes after the company announced that U.S. regulators have allowed its patent application for heart failure therapy, levosimendan, covering various formulations and combinations. The patent, once granted, will extend IP protection through December 2040, bolstering Tenax's rights to develop and commercialize levosimendan in North America.
February 07, 2024 | 10:33 am
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Tenax Therapeutics, Inc. shares surged following the announcement of a patent application approval for its heart failure therapy, levosimendan, which covers various formulations and combinations. This development is expected to significantly enhance the company's IP protection and commercialization rights in North America.
The positive reaction in TENX's stock price is directly attributable to the announcement of the patent application approval for levosimendan. This news is significant as it not only enhances the company's intellectual property portfolio but also solidifies its commercialization rights in a key market. The extension of IP protection until December 2040 provides a long-term competitive advantage, likely encouraging investor optimism about the company's future prospects.
CONFIDENCE 90
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RELEVANCE 100