Tenax stock surges after patent win (NASDAQ:TENX)

Tenax Therapeutics (NASDAQ:TENX) gained ~52% on Tuesday after U.S. regulators endorsed its patent utility associated to its coronary heart failure remedy, levosimendan, a transfer that would prolong the drug’s exclusivity.

Issuing a Discover of Allowance concerning the corporate’s patent utility, the U.S. Patent and Trademark Workplace (USPTO) has indicated its plans for broader IP rights, Tenax (TENX) stated Tuesday earlier than the market opened.

If granted, the brand new patent will prolong the U.S. IP protections for levosimendan till December 2040 and probably past.

The patent utility pertains to the oral, subcutaneous, and intravenous types of levosimendan and its lively metabolites when utilized in sufferers with coronary heart failure with preserved ejection fraction (PH-HFpEF) to enhance their train capability.

Tenax (TENX) holds North American rights to develop and commercialize levosimendan, a potassium ATP channel activator found by Orion Company in Finland.