Femasys Inc FEMY shares are trading higher after the company announced that the United States Patent and Trademark Office (USPTO) issued a Notice of Allowance for U.S. Patent Application 16/402,193.
The patent further strengthens Femasys' intellectual property position and coverage for the company's therapeutic product candidate, FemBloc, permanent birth control.
FemBloc is a nonsurgical, non-implant, in-office solution in its late-stage clinical development for permanent birth control.
It is intended to be a safer option for women, estimated at approximately half the cost of the long-standing surgical alternative, by eliminating the need for anesthesia, incisions, and permanent implants.
Femasys expects the resulting patent, when issued, will have an anticipated expiration in 2039 at the earliest.
Femasys intends to continue to prosecute additional patent applications to further enhance its existing patent portfolio protecting FemBloc along with FemaSeed localized directional insemination for infertility treatment, representing the two lead product candidates of the company, in addition to the company's existing available diagnostic products, FemVue, FemCath, and FemCerv.
Price Action: FEMY shares are up 108.80% at $0.80 on the last check Thursday.
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