Stock Groups

Progenity Slides Despite Being Granted Four Patents By Investing.com

by Mike Robinson

[ad_1]


Sam Boughedda

Investing.com — Progenity Inc (NASDAQ:) stock fell 5.6% Wednesday, despite news the United States Patent and Trademark Office issued it four patents.

Progenity shares were trading for $2.10 at the time this article was written.

According to the biotechnology company, the patents are related to ingestion technologies that allow for therapeutic drugs to be delivered through the stomach.

The first patent is named “Ingestible device for delivery of therapeutic agent to the gastrointestinal tract,” and is regarding techniques and devices for delivering a therapeutic agent into gastrointestinal tissue.

A Janus kinase inhibitor (JAK), is the second patent that treats inflammatory conditions in the gastrointestinal tract. 

Additionally, it received a third patent entitled “Treatment of a disease of the gastrointestinal tract with a SMAD7 inhibitor,” and a fourth under the title of “Treatment of a disease of the gastrointestinal tract with a chemokine/chemokine receptor inhibitor.”

The patents all fall within Progenity’s GI targeted therapeutics portfolio. This includes more than 170 patents issued and ongoing applications.

“We believe we hold one of the most robust ingestible device patent portfolios,” said Eric d’Esparbes, interim CEO of Progenity. 

“The addition of these recent patents further strengthens our intellectual property position and underscores our commitment to innovation in advancing therapeutic discovery, development, and delivery,” he added. 

Disclaimer Fusion MediaThis website does not provide accurate and current data. CFDs include stocks, indexes and futures. Prices are provided not by the exchanges. Market makers provide them. Therefore, prices can be inaccurate and differ from actual market prices. These prices should not be used for trading. Fusion Media is not responsible for trading losses that may be incurred as a consequence of the use of this data.

Fusion MediaFusion Media or any other person involved in the website will not be held responsible for any loss or damage resulting from reliance on this information, including charts, buy/sell signals, and data. You should be aware of all the potential risks and expenses associated with trading in the financial market. It is among the most dangerous investment types.



[ad_2]