Lakewood-Amedex Expands Global IP Portfolio for Lead Drug Nu-3 with New Patents in Australia, New Zealand
LABT is trading near its 52-week low of $0.66 (5.8% above the low) on light trading volume (0.1× avg).
Summary
Lakewood-Amedex announced the issuance of two new patents in Australia and New Zealand for the gel formulation of its lead candidate, Nu-3, which targets infected diabetic foot ulcers. This expands the company's global intellectual property portfolio to 71 granted patents and 28 pending applications. Strengthening IP for its core asset is a positive development for the micro-cap biotech, providing long-term protection and enhancing future commercial opportunities. This news follows recent positive data for Nu-3 and a highly dilutive Series C financing round. The company plans to advance Nu-3 into a Phase 2 clinical trial.
At the time of this announcement, LABT was trading at $0.70 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $10M. The 52-week trading range was $0.66 to $9.82. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: PR Newswire.