Tenax stock surges after patent win (NASDAQ:TENX)

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

Issuing a Discover of Allowance relating to the corporate’s patent software, 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 software pertains to the oral, subcutaneous, and intravenous types of levosimendan and its energetic 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.