Shares of Mast Therapeutics Inc (NYSEMKT:MSTX) ended Tuesday session in green amid volatile trading. The shares closed up +0.020 points or 5.19% at $0.411 with 4.61 million shares getting traded. Post opening the session at $0.40, the shares hit an intraday low of $0.39 and an intraday high of $0.41 and the price vacillated in this range throughout the day. The company has a market cap of $82.07 million and the numbers of outstanding shares have been calculated to be 192.84 million shares.
Mast Therapeutics Inc (MSTX) on June 8, 2016 announced that the United States Patent and Trademark Office (USPTO) has issued a notice of allowance for its patent application entitled, “Poloxamer Composition Free of Long Circulating Material and Methods for Production and Uses Thereof” (U. S. Patent Application No. 14/793,670). Upon issuance, the patent will provide key intellectual property protection for the Company’s vepoloxamer programs that is expected to expire no earlier than July 2035.
The allowed claims cover composition of matter, methods of use, and methods of making certain purified forms of poloxamer 188, including vepoloxamer. The notice of allowance concludes substantive examination of the patent application, which is expected to issue as a patent once the issue fee is paid and the USPTO concludes administrative procedures. Mast also has filed corresponding patent applications that will allow the Company to seek similar patent protection for vepoloxamer in key markets throughout the world, including Europe and Japan.
“This milestone is an important contribution to our intellectual property strategy,” stated Brian M. Culley, Chief Executive Officer of Mast Therapeutics. “We believe this patent not only will provide protection for vepoloxamer in sickle cell disease beyond the seven-year orphan market exclusivity period anticipated in the U.S., but also strengthen the commercial opportunities for development of vepoloxamer in non-orphan indications such as heart failure and stroke.”
Shares of Opko Health Inc. (NYSE:OPK) ended Tuesday session in red amid volatile trading. The shares closed down -0.21 points or -2.27% at $9.05 with 5.44 million shares getting traded. Post opening the session at $9.22, the shares hit an intraday low of $8.83 and an intraday high of $9.31 and the price vacillated in this range throughout the day. The company has a market cap of $4.93 billion and the numbers of outstanding shares have been calculated to be 547.44 million shares.
Opko Health Inc. (OPK) announces that it will host an Analyst & Investor Day on Wednesday, June 15, 2016 beginning at 4:30 p.m. local time in New York City. Phillip Frost, M.D., Chairman and Chief Executive Officer of OPKO Health, will host the event along with other key members of OPKO Health senior management. The meeting will focus on OPKO Health’s diversified business units and will provide an update on continued progress in its research and development and commercial programs. Expert medical leaders in the fields of prostate cancer, renal disease and endocrinology will be featured speakers at the meeting.
The presentations and Q&A will be webcast live beginning at 5:00 p.m. Eastern time. The live and archived webcast will be available on the Investor Relations section of OPKO Health’s corporate website at www.opko.com.