Tyme Technologies (TYME) - Get Tyme Technologies, Inc. Report shares soared Monday after the biotechnology company said it received additional patent claims related to its metabolomic technology platform.
That approval came from the U.S. Patent and Trademark Office. The patent involves a targeted delivery of therapeutics to cancer cells. Tyme develops cancer metabolism-based therapies.
The stock recently traded at %1.6450, up 52%. It has declined 7% over the past six months.
“This technology could provide Tyme an opportunity to expand its current cancer-metabolism based approach with a drug delivery platform that’s aimed to deliver toxic therapies in a targeted manner that could offer improved safety and efficacy for a range of anticancer drugs.” said Steve Hoffman, Tyme’s chief scientific officer.
The delivery technology is an investigational method of drug delivery in the pre-clinical phase of development, Tyme said. It isn’t approved in the U.S. for any disease indication and requires further studies, which the company plans to initiate this year.