Why Agile Therapeutics (AGRX) Stock Hit a One-Year High Today

NEW YORK (TheStreet) -- Agile Therapeutics  (AGRX) soared to a 52-week high of $12.53 on Monday after the women's health specialty pharmaceutical company announced the U.S. Patent and Trademark Office issued a new patent for its Skinfusion transdermal delivery device, the contraceptive patch Twirla.

"The granting of this patent further strengthens the patent protection of our proprietary Skinfusion® transdermal technology used in our contraceptive patch, Twirla currently in Phase 3 clinical development," said Agile president and CEO Al Altomari. "The issuance of this patent demonstrates our commitment to protecting our intellectual property in our proprietary transdermal technology and is expected to provide protection into 2028."

The stock was up 43.79% to $11 at 2:09 p.m. More than 1.4 million shares had changed hands, which beat the average volume of 309,870.

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