HOUSTON - Bio-Path Holdings, Inc. (NASDAQ:BPTH), a biotechnology firm specializing in targeted nucleic acid cancer drugs, announced today that it has secured new patents in Mexico, Australia, and Japan. This expansion is part of the company's ongoing efforts to enhance its global intellectual property portfolio, which now encompasses five U.S. patents and 54 foreign patents, covering 21 countries.
The newly issued patents focus on the company's proprietary DNAbilize® technology, which involves liposomal delivery and antisense methods. Bio-Path's CEO, Peter Nielsen, emphasized the strategic importance of these patents in protecting the company's technology and deterring competitors, while also creating value around its core competencies.
Nielsen stated that these patents are crucial for safeguarding the company's investments and advancing clinical programs to introduce new cancer treatments. The patents aim to prevent third-party encroachment on its proprietary products and should enable Bio-Path to apply its core technology to new protein targets, potentially extending patent exclusivity by an additional 20 years.
In Mexico, the Instituto Mexicano de la Propriedad Industrial (IMPI) granted patent MX 409482, which pertains to P-ethoxy nucleic acids for IGF-1R inhibition. IP Australia issued three patents: AU 2018255352, AU 2018255353, and AU 2018254468, related to the inhibition of STAT3, IGF-1R, and BCL2, respectively. The Japanese Patent Office issued patent JP 7441002 for liposomal formulation.
Beyond these newly issued patents, Bio-Path anticipates six more patent grants this year, with one additional patent application allowed in the U.S. and five in foreign jurisdictions. The company also has 51 pending patent applications across various countries.
Bio-Path is currently developing its lead product candidate, prexigebersen, for the treatment of blood cancers and is conducting a Phase 2 study. Another drug modification, BP1001-A, is in a Phase 1/1b study for solid tumors. The company's second product, BP1002, targets the Bcl-2 protein and is under evaluation for blood cancers and solid tumors.
The information in this article is based on a press release statement from Bio-Path Holdings, Inc.
InvestingPro Insights
As Bio-Path Holdings, Inc. (NASDAQ:BPTH) continues to expand its intellectual property portfolio and advance its clinical programs, investors are closely monitoring the company's financial health and market performance. According to the latest data from InvestingPro, Bio-Path holds a market capitalization of approximately $2.3 million USD. Despite the company's strategic patent acquisitions and ongoing clinical studies, Bio-Path's financial metrics reflect certain challenges.
The company's Price / Book ratio, based on the last twelve months as of Q4 2023, stands at 6.65, indicating a valuation that could be considered high relative to the company's book value. This metric is particularly relevant as Bio-Path is trading near its 52-week low, with the price at 8.68% of the 52-week high. Moreover, the company's operating income for the same period shows a significant loss of $15.84 million USD, which aligns with the InvestingPro Tip that analysts do not anticipate the company will be profitable this year.
An InvestingPro Tip also highlights that Bio-Path's stock has fared poorly over the last month, with a one-month price total return of -15.43%. This is part of a broader trend of decline over the past year, with the one-year price total return at -86.01%. These figures underscore the importance of Bio-Path's strategic moves to secure its competitive position in the market through patent protection and product development.
Investors seeking more comprehensive analysis and additional insights can find a total of 13 InvestingPro Tips on https://www.investing.com/pro/BPTH. For those considering a deeper dive into Bio-Path's financials and market prospects, using the coupon code PRONEWS24 will grant an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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