Adhera Therapeutics Inc (OTCMKTS:ATRX) Stock Rockets 845 in a Month: What’s The Buzz?
Adhera Therapeutics Inc (OTCMKTS:ATRX) stock was in focus as the stock ended higher on Monday. The stock has fallen 84% over the past month.
Market Action
In the previous trading session, ATRX slid 3.85% to $0.22. A total of 40K shares traded for the session hands, compared to its average volume of 384K shares. The stock opened at $0.24 and moved in a range of $0.2200 – 0.2400.
Key Trigger
Adhera Receives European Patent Covering MLR-1019 and Derivatives for Treating Dyskinesias
Adhera Therapeutics announced that a new European patent has been issued for MLR-1019 (armesocarb), a drug licensed by the Company from Melior Discovery (“Melior”) company Melior Pharmaceuticals II, LLC (“Melior 2”). Melior has received notice from the European Patent Office that the patent, titled, “Methods of Treating Dyskinesia and Related Disorders,” passed the required period without any opposition being filed, triggering the issuance of the patent.
The new patent adds to a growing patent estate protecting MLR-1019 now comprised of 11 issued patents (3 in U.S., Europe Union, Australia, Chinese, Eurasia, Israel, Mexico, South Africa, and Hong Kong) and 8 pending patents (U.S., Japan, Brazil, Canada, 2 in South Korea, New Zealand, and Singapore).
Key Quote:
“Given that our development plans for MLR-1019 begin in Eastern Europe, the new patent is particularly timely as part of a robust patent portfolio protecting the intellectual property,” commented Andrew Kucharchuk, Chief Executive Officer at Adhera Therapeutics. “Dyskinesias have a negative impact both functionally and socially on most Parkinson’s patients, causing embarrassment while inhibiting their ability for daily tasks, including writing, dressing, and eating. We certainly hope that MLR-1019 can one day provide some relief to this debilitating disease.”
Trader Notes:
From the technical point of view, ATRX stock looks bullish with the stock trading below its 50-day and 20-Day SMA stand at $0.15 and $0.8 respectively. RSI stood at 60 – signals neutral trend.
