Tenax Therapeutics, Inc. (NASDAQ: TENX) is engaged as a specialty pharmaceutical company, which is focused on the research, development and commercialization of treatments that address cardiovascular and pulmonary diseases. Shares of the specialty pharma company are surging 92% through early trading on Thursday, February 2, 2023. Over the past three months, Tenax Therapeutics has seen average daily volume of 382,830 shares. However, volume of 17.6 million shares or dollar volume of around $58.26 million, has already exchanged hands through early trading.
Shares of Tenax Therapeutics are soaring after the company announced it has received a Notice of Allowance from the United States Patent and Trademark Office (USPTO) for the use of IV levosimendan as a treatment for pulmonary hypertension with heart failure with preserved ejection fraction (PH-HFpEF). The patent is estimated to be effective through 2040 and will add to the company’s intellectual property (IP) assets. The latest patent builds upon Tenax Therapeutics’ established IP for levosimendan, which includes U.S. Patent No. 11,213,524 that was issued in January 2022 and covers all human-based medical uses of the subcutaneous formulation of the levosimendan.
PH-HFpEF is a pulmonary vascular disease that is associated with left-side heart failure. The condition impacts over 1.5 million patients in the United States. However, there is currently no FDA-approved treatments for the condition.
Chris Giordano, Tenax Therapeutics’ Chief Executive Officer, stated, “This notice of allowance represents an important milestone in the Company’s development of broad IP protection for the use of levosimendan to treat the estimated 1.5 million-plus patients in the United States who suffer from PH-HFpEF and who currently have no FDA approved therapies to treat their condition. The protections this patent will provide are based on key discoveries from the HELP Study – the first study to demonstrate improved exercise tolerance in patients with this deadly disease. USPTO’s acknowledgement of the novelty of this targeted use of levosimendan increases our confidence that our pending patent applications, which are based on further data from the HELP patients who transitioned from IV to oral levosimendan, will also be afforded IP protection.”
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