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Shares of Bio-Path Holdings (NASDAQ: BPTH) have rocketed on Wednesday after the company announced it received its third US patent Grant related to the manufacture of platform technology.

The United States Patent and Trademark Office has granted the company U.S. Patent No. 10,898,506 titled, “P-ethoxy nucleic acids for liposomal formulation.” The new patent builds on earlier patents granted tp Bio-Path that protect the platform technology for DNAbilize, the firm’s novel RNAi nanoparticle drugs.

“Our innovative DNAbilize platform improves upon the drawbacks of traditional approaches, which are limited by the toxicity induced by either the DNA backbone or the lipid delivery,” said Peter Nielsen, President and CEO of Bio-Path Holdings.

The US Patent office has also mailed an Issue Notification for a patent related to Bio-Path’s lead product candidate, prexigebersen, in combination with either a cytidine analogue, such as decitabine, or the Bcr-Abl tyrosine kinase inhibitors dasatinib and nilotinib.

The new patent is scheduled to issue as US Patent No. 10,927,379 on February 23, 2021.

Bio-Path’s stock price has rocketed over 300% since the news. It is currently trading at $19.71 per share, up 279%.

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