Shares of ARCA biopharma (NASDAQ ABIO) rocketed up 210% on Friday after the biopharmaceutical and biotechnology company was granted a patent for its approach to treating heart failure patients. ABIO is using the heart failure drug bucindolol (Gencaro) to treat heart failure patients based on genetic testing to determine candidates for Gencaro.
ARCA biopharma CEO Michael Bristow stated..."We believe this will extend our pharmacogenetic intellectual property protection around bucindolol and, if approved for marketing, provide Gencaro market exclusivity into 2025"
ABIO stock price closed the regular NASDAQ trading session up $5.57 (210%) to $8.22 a share.
