Starpharma (ASX:SPL) share price surges 5% on United States patent news

The company's shares are rebounding strongly in late afternoon trade…

| More on:
share price up

Image source: Getty Images

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

The Starpharma Holdings Ltd (ASX: SPL) share price is pushing higher today following a patent update from the biopharmaceutical company.

At the time of writing, Starpharma shares are swapping hands for $1.385, up 5.73%.

What did Starpharma announce?

Investors are sending the Starpharma share price higher after the company received a new patent in relation to DEP cabazitaxel.

According to the release, the United States Patents and Trademarks Office (USPTO) approved a patent for the DEP cabazitaxel nanoparticle.

The new grant covers DEP dendrimer coupled with multiple cabazitaxel drug molecules via a particular releasable linker.

The patent is due to expire in 2039 but can be extended for a further 5 years.

Starpharma is currently trialling the DEP cabazitaxel nanoparticle in a late phase 2 clinical development. More than 40 patients with solid tissue tumours, including prostate, ovarian and gastro-oesophageal cancers have been recruited.

DEP cabazitaxel aims to treat patients with multiple cycles of DEP cabazitaxel, reducing the rate of severe life-threatening bone marrow toxicity. So far, encouraging signals have been observed in multiple tumour types where no new bone metastases were observed.

Starpharma chief executive, Dr Jackie Fairley commented:

The grant of this new US patent illustrates the unique and compelling benefits of Starpharma's DEP drug delivery technology and DEP cabazitaxel.

We look forward to completing the phase 2 clinical program for DEP cabazitaxel, in parallel with commercial discussions with potential licensing partners.

It's worth noting that DEP cabazitaxel is a proprietary nanoparticle version of leading prostate cancer drug cabazitaxel (Jevtana). In 2020, Jevtana achieved global sales of US$536 million.

Starpharma share price summary

At the beginning of the year, Starpharma shares rocketed to an all-time high of $2.52 in February. However, the short and sudden rise was short-lived with its shares crashing down the following month.

Since then, the company's share price has gradually ticked lower hitting a 52-week low of $1.15 in late August. A slight rebound has ensued after investors picked up its shares at bargain prices.

Starpharma is down almost 20% when looking at the past 12 months, and around 10% lower in 2021.

Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of and has recommended Starpharma Holdings Limited. The Motley Fool Australia has recommended Starpharma Holdings Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

More on Share Market News

Three healthcare workers look and point at at medical image
Share Market News

Pro Medicus shares surge 10% to crack $300 as healthcare leads ASX 200 sectors

Pro Medicus shares just keep on going, rising 625% over the past three years.

Read more »

Magnifying glass in front of an open newspaper with paper houses.
Share Market News

How did ASX REITs vs. residential property investment perform in FY25?

We review the share price growth of the largest ASX REITs vs. residential property investment in FY25.

Read more »

A man and woman sit next to each other looking at each other and feeling excited and surprised after reading good news about their shares on a laptop.
Broker Notes

These ASX 200 shares could rise 55% to 65%

Analysts think these shares are dirt cheap at current levels.

Read more »

Young man with a laptop in hand watching stocks and trends on a digital chart.
Broker Notes

Top brokers name 3 ASX shares to buy next week

Brokers gave buy ratings to these ASX shares last week. Why are they bullish?

Read more »

a man sits at his desk wearing a business shirt and tie and has a hearty laugh at something on his mobile phone.
Broker Notes

Why DroneShield, Nickel Industries, and CSL shares could be best buys

Let's see why Bell Potter is so bullish on these shares.

Read more »

A group of executives sit in front of computer screens in a darkened room while a colleague stands giving a presentation with a share price graphic lit up on the wall
Opinions

2 ASX 200 large-cap shares that this fundie is cashing in after phenomenal growth

Shaw and Partners portfolio manager James Gerrish says he knows this will be an 'unpopular call'.

Read more »

Animation of a man measuring a percentage sign, symbolising rising interest rates.
Share Market News

Here's what Westpac says the RBA will do with interest rates next week

Are interest rates heading lower again? Let's find out what the banking giant is predicting.

Read more »

A handsome smiling man sits in the front seat of an electric vehicle with his hands on the wheel feeling pleased that the Carsales share price is going up and the company will shortly pay its biggest dividend ever
Share Market News

Are electric vehicle stocks a good investment today?

Did US President Trump just kill the EV industry?

Read more »