Shares of ValiRx Plc (LON: VAL) edged 4.16% higher after revealing that its patent portfolio had expanded following three patent awards in June 2021.
The clinical-stage drug development company received an EU patent award extending the protection for the use of its VAL201 drug candidate to treat metastatic cancer after the grant application was allowed earlier in January.
ValiRx also got the Israeli patent for its VAL301 drug candidate to treat endometriosis and other non-cancerous hormone-driven conditions extended in June 2021.
Lastly, the firm secured its second Chinese patent for its VAL401 drug candidate, which treats various types of adenocarcinomas.
From a technical perspective, Valirx shares have been stuck in a sideways range since February and are currently trading in the lower section of the range shown in the daily chart below.
The company’s fundamentals are also pretty solid. Two of its drug candidates VAL201 and VAL401, are in phase II clinical trials and could soon reach the commercial stages to generate revenues from consumers.
ValiRx’s drug candidates have shown immense potential, as evidenced by the positive results generated from the ongoing clinical trials. As a result, they could generate significant revenues for the company once they are commercialised.
Dr Suzy Dilly, ValiRx’s CEO, commented: “I'm pleased to provide this periodic report of progress throughout our patent portfolio. Expanding geographical and scientific protection for these programmes provides a strong commercial background to promote to potential partners. This incremental increase in protection of our intellectual property estate provides a foundation for company valuation growth.”
Traders looking to profit from the company’s price swings may find its current prices quite appealing given that the shares are trading near a support level, which offers an excellent risk-reward trade setup.
*This is not investment advice.
ValiRx share price.
ValiRx shares rallied 4.16% to trade at 20.05p, rising from Monday’s closing price of 19.25p.
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