Very rarely the wall street fails to react to FDA approvals mainly because there is not enough awareness created to spread the news. The research team at Journal Tanscript noticed how undervalued this pharma company is post its patent approval and immediately sent out an email alert to our subscribers yesterday.
Arca Biopharma Inc (NASDAQ:ABIO) has registered its name among one of the best healthcare sector stocks over the last few months. One reason behind the optimism for this biopharmaceutical company is the patent issuance from the U.S. Patent and Trademark Office (USPTO).
Patent in U.S.
By securing the patent for S-isomer compositions and methods of Gencaro (bucindolol hydrochloride), Arca Biopharma Inc (NASDAQ:ABIO) has proved that it has calibre to stay ahead in the healthcare segment. The patent will give intellectual protection to Arca Biopharma Inc (NASDAQ:ABIO) in the United States pertaining to the use of S-isomer Gencaro. The therapy is tested for right ventricular heart failure, hypertension, myocardial infarction, congestive heart failure, angina, cardiac arrhythmia, hypertrophic obstructive cardiomyopathy, mitral valve prolapse or acute dissecting aortic aneurysm.
More R&D outlay
More recently, Arca Biopharma Inc (NASDAQ:ABIO) said that it has amended its GENETIC-AF trial protocol in order to expand the trial population. It also aims to step up enrollment rate under the phase 2B of GENETIC AF. The focus of the company on its trial is evidenced by a higher allocation of Research and Development (R&D) expenses towards the same during the year 2014. The company declared in its financial statements that as much as $2.1 million was directed towards the GENETIC-AF clinical trial and included CRO costs, site monitoring and other associated costs. In addition, Arca Biopharma Inc (NASDAQ:ABIO) stated that it will continue to spend higher on R&D in 2015 s it will activate new clinical sites and expand trial population for its said trial.
The company recorded $15,354 in cash and cash equivalents in 2014 as against $16,756 in 2013 on account of higher spend towards R&D and SG&A activities. It reported a net loss of $2.61 million as on December 31, 2014. The stock price of Arca Biopharma Inc (NASDAQ:ABIO) settled nearly 17.50% higher at $0.940 during the previous session. A total of 417,552 shares traded on the day.