Lakewood-Amedex Secures Key Patent for New Bisphosphocin® Antimicrobials
LABT is trading near its 52-week low of $3.66 (89% below the low).
Summary
Lakewood-Amedex secured a composition of matter patent in Australia for new Bisphosphocin® compounds targeting high-need antimicrobial infections. This strengthens the company's intellectual property foundation for its early-stage pipeline, which is crucial for a clinical-stage biotech. The news follows recent positive data for their lead candidate Nu-3, but also comes after a going concern warning, highly dilutive financing, and a 1-for-10 reverse stock split effective just days ago.
At the time of this announcement, LABT was trading at $0.39 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $6.7M. The 52-week trading range was $3.66 to $98.20. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: PR Newswire.