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Patent Application Sends Cesca Therapeutics Shares Soaring

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Patent Application Sends Cesca Therapeutics Shares Soaring

Cesca Therapeutics Inc (NASDAQ: KOOL) shares have moved out of a one-year trading range of $2.50–$4 Tuesday and are currently at their highest level in over a year.

The catalyst being an announcement from the company that the U.S. Patent and Trademark Office issuing a notice of allowance regarding its pending application for a patent covering its Buoyancy-Activated Cell Separation, or BACS technology.

At time of writing, Cesca Therapeutics shares were rallying 32.03 percent at $4.74.

A notice of allowance is a written notification sent from the USPTO if it appears that the applicant is entitled to a patent under the law, indicating its intention to grant the patent. Within three months from the mailing date, the applicant has to pay the issue fees and submit the final drawings.

The BACS technology aids in separating rare, therapeutically critical target cells from blood, bone marrow, leukapheresis product and other cell sources, while maintaining the viability of the cells under asceptic conditions.

See also: Attention Biotech Investors, Here's Your PDUFA Primer For October

This technology, according to the company, is key to the company's ongoing development of CAR-TXpress platform.

The company also said it would be its second patent in a series related to its X-BACS technology.

"This Notice of Allowance further strengthens our intellectual property position as we advance development of our novel CAR-TXpress™ solution for the automated manufacture of CAR-T cells," said Chris Xu, Cesca's CEO.

"CAR-T represents the future of cancer treatment, yet we believe speed, cost and consistency will likely emerge as significant industry challenges. With the X-BACS technology embedded in CAR-TXpress, manufacturers will be able to improve the yield and consistency of CAR-T cells in less time and at a lower cost. We look forward to partnering with some of the most innovative biopharmaceutical companies in the field to enhance the commercial viability of these ground-breaking treatments."

Related Link: 15 Biggest Mid-Day Gainers For Tuesday

Posted-In: Bacs Buoyancy-activated cell separation CAR-TXpressBiotech News Movers Trading Ideas General Best of Benzinga

 

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