Bio-Path Rises On New Patent For Prexigebersen

(RTTNews) - Shares of Bio-Path Holdings Inc. (BPTH) are up more than 37% at $5.60 in pre-market trading Thursday on receipt of notice of allowance for a strategic patent for its lead product candidate Prexigebersen in combination with either a cytidine analog such as Decitabine or Bcr-Abl tyrosine kinase inhibitors like Dasatinib and Nilotinib in a variety of cancers.

Prexigebersen in combination with Decitabine is currently in a phase II clinical trial as a treatment for acute myeloid leukemia.

Commenting on the new patent, Peter Nielsen, President and Chief Executive Officer of Bio-Path Holdings, said, "Our growing patent estate continues to be a valuable asset for Bio-Path as it provides protection not only for our core product portfolio and research efforts but now also offers broad protection in combination with established front-line therapies."

BPTH closed Wednesday's trading at $4.11, up 1.48%. In pre-market trading Thursday, the stock is up 37.90% at $5.64.