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Aclaris Therapeutics Inc (NASDAQ:ACRS) shares were seeing some upward momentum Tuesday on the back of the announcement of a patent win.
What Happened
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The U.S. Patent and Trademark Office has granted the company a patent — No. 10,335,391 — covering the methods to treat facial erythema associated with rosacea using Rhofade, or 1% oxymetazoline hydrochloride composition, Aclaris said Tuesday.
Rhofade is the first alpha-1A adrenoreceptor agonist approved for the topical treatment of persistent facial erythema associated with rosacea in adults.
The company noted that the issued U.S. patent will be listed in the Orange Book for Rhofade. The patent is set to expire in June 2035.
Why It's Important
Persistent facial erythema associated with rosacea affects about 16 million people in the U.S., according to Aclaris.
"Aclaris continues to expand its intellectual property estate and we are pleased to add a sixth Orange Book listable patent to the intellectual property portfolio covering Rhofade. This U.S. patent, together with the recently granted European patent, augment our strong worldwide intellectual property portfolio covering Rhofade," CEO Neal Walker said in a statement.
Aclaris shares were up 6.98% at $2.30 at the time of publication Tuesday.
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27% profit every 20 days?
This is what Nic Chahine averages with his option buys. Not selling covered calls or spreads… BUYING options. Most traders don’t even have a winning percentage of 27% buying options. He has an 83% win rate. Here’s how he does it.