Arno Therapeutics Inc (OTCMKTS:ARNI) a biopharmaceutical company disclosed that it successfully obtained Notice of Allowance from the ‘USPTO’ for its two filed patent applications pertaining to lead oncology candidate, termed as ‘onapristone.’
Regarding the patents the company said that first one is related to onapristone polymorph structures and ways of use. The second one is about diagnostic systems and procedures for diagnosis and treatment of anti-progestin sensitive tumors. The two patents together will support the intellectual property related to onapristone.
The expert view
Alex Zukiwski, MD who is the Chief Executive of Arno Therapeutics, stated that the two patents holds significant importance for the protection of lead candidate ‘onapristone’, as company move forward with its two clinical studies. The first one is a Phase 2 trial specifically for women suffering with recurrent/metastatic endometrioid tumors. The second one is a Phase 1/2 clinical study for men affected with castration-resistant prostate cancer.
The management confirmed that the studies are currently in enrollment phase. By shielding structure and procedures of use for diagnostic purposes as well as drug for treating anti-progestin sensitive tumors, Arno will have better control over the prospect of new hormonal treatment.
Arno’s Onapristone can be stated as anti-progestin hormone blocker given in oral form. In pre-clinical studies, the drug has proved to obstruct the activation of PR which is considered as a reason behind the growth of APR driven breast, and several other gynecological tumors. The recent study was not funded by Arno.
In last trading session, the stock price of ARNI consolidated to close the trading session at $0.940. The share volume was 405,240 compared to average share volume of 178,224. The high for the day was $1 while the low was $0.940. The market cap stands at 19.18 million. The one year high is $2.15 and 52-week low is $0.43.