Clinical stage pharmaceutical company focused on providing systemic administration of therapeutics to patients, Zosano Pharma, Corp. (NASDAQ:ZSAN), has announced that it has received notification that their application filed on Feb. 21, 2017 has been published.
FREMONT, Calif., Aug. 28, 2017 (GLOBE NEWSWIRE) — Zosano Pharma Corporation (ZSAN) a clinical stage biopharmaceutical company focused on providing systemic administration of therapeutics to patients using our proprietary Adhesive Dermally-Applied Microarray (ADAM) technology, announced today it has received notification that the US Patent Application (US 15/438,455) was published by the US Patent Office, on August 24, 2017. The application was originally filed on February 21, 2017.
The patent invention has currently pending claims drawn to M207, a system for delivering zolmitriptan for the treatment of migraine using our ADAM technology. The disclosure claims a method for treatment or alleviation of migraine in a patient, comprising intracutaneous administration of a therapeutically effective amount of zolmitriptan that produces a therapeutic concentration of zolmitriptan in the bloodstream that is faster than therapeutically effective doses administered orally, intranasally, sublingually, or iontophoretically. Application of M207 results in zolmitriptan plasma Tmax as fast as 2 minutes and not later than approximately 30 minutes in most subjects. Furthermore, a significant number of patients experience pain freedom after about 1 hour post-application and are free of most bothersome symptoms after about 2 hours post-application.
“The publication of our patents covering the use of our ADAM technology with zolmitriptan, which produces a unique pharmacokinetic profile, is an important step in establishing a long-term proprietary position for M207. If issued, these patents would enable M207 to benefit from patent protection through 2037,” said John Walker, President and CEO of Zosano Pharma. “This is also an important step as we evaluate other compounds that can be delivered with our ADAM technology. If these patents issue, we can follow a similar strategy with additional molecules to establish long-term patent protection for future products.”
M207 is our proprietary formulation of zolmitriptan delivered utilizing Zosano’s proprietary Adhesive Dermally-Applied Microarray, or ADAM technology. Zosano’s ADAM technology consists of titanium microprojections coated with drug, and in the case of M207, our formulation of zolmitriptan. Our ADAM technology delivers drug by abrading the stratum corneum and allowing drug to be absorbed into the microcapillary system of the skin. In February 2017, the Company announced statistically significant results from the ZOTRIP trial, which demonstrated that the 3.8mg dose of M207 met both co-primary endpoints, achieving pain freedom and most bothersome symptom freedom at 2 hours.
About Zosano Pharma
Zosano Pharma Corporation is a clinical stage biopharmaceutical company focused on providing systemic administration of therapeutics to patients using our proprietary Adhesive Dermally-Applied Microarray, or ADAM technology. The Company recently announced positive results from our ZOTRIP study that evaluated M207, which is our proprietary formulation of zolmitriptan delivered via our ADAM technology, as an acute treatment for migraine. Zosano is focused on developing products where rapid administration of established molecules with known safety and efficacy profiles provides an increased benefit to patients, for markets where patients remain underserved by existing therapies. The Company anticipates that many of its current and future development programs may enable the Company to utilize a regulatory pathway that would streamline clinical development and accelerate the path towards commercialization. Learn more at www.zosanopharma.com.
This press release contains forward-looking statements regarding the timing of expected clinical development milestones, sufficiency of our capital resources and need for future funding and other future events and expectations. Readers are urged to consider statements that include the words “may,” “will,” “would,” “could,” “should,” “might,” “believes,” “estimates,” “projects,” “potential,” “expects,” “plans,” “anticipates,” “intends,” “continues,” “forecast,” “designed,” “goal,” “unaudited,” “approximately” or the negative of those words or other comparable words to be uncertain and forward-looking. These statements are subject to risks and uncertainties that are difficult to predict and actual outcomes may differ materially. These include risks and uncertainties, without limitation, associated with the process of discovering, developing and commercializing products that are safe and effective for use as human therapeutics, risks inherent in the effort to build a business around such products and other risks and uncertainties described under the heading “Risk Factors” in the Company’s most recent annual report on Form 10-K.. Although we believe that the expectations reflected in these forward-looking statements are reasonable, we cannot in any way guarantee that the future results, level of activity, performance or events and circumstances reflected in forward-looking statements will be achieved or occur. All forward-looking statements are based on information currently available to Zosano and Zosano assumes no obligation to update any such forward-looking statements.
Zosano Pharma, Corp. (NASDAQ:ZSAN) shares are moving +1.15% on the news today and have traded in the range of $0.82 – 0.90 during the current trading session. A number of brokerage analysts have recently weighed in on the stock, providing price target projections. The covering firms currently have a consensus one-year price target of $4.00 on the stock. This is according to brokerage analysts polled by Thomson Reuters First Call. This is the average number from the individual targets provided by the firms. Analysts are projecting earnings per share of $-0.20 for the next fiscal quarter. For the current year, analysts are predicting earnings of $-0.79 per share according to First Call.
Are Shares of Zosano Pharma, Corp. (NASDAQ:ZSAN) Ready to Explode? Sign up to our Newsletter to be the First to Know
Sign up to get our Free Penny Stock Picks Before the Street!
In looking at where Zosano Pharma, Corp. (NASDAQ:ZSAN) is trading on a technical level, the stock is trading -22.32% away from its 50-day moving average of $1.12. Based on the most recent available data, the equity is -75.42% off of its 52-week high of $3.54 and +92.48% away from its 52-week low which is $0.45.
Today, the stock opened at $0.88 and the last bid at the time of writing stood at $0.87. During the session thus far, the equity dipped down to $0.82 and touched $0.90 as the high point. Zosano Pharma, Corp. (NASDAQ:ZSAN) has a market cap of $34.13M and has seen an average daily volume of 685,812 over the past three months.
Sign Up to Receive Breaking Alerts on Stocks That Are Primed to Make a Run in the Bar Below.
Sign up to get our Free Penny Stock Picks Before the Street!
Disclaimer: The views, opinions, and information expressed in this article are those of the authors and do not necessarily reflect the official policy or position of any company stakeholders, financial professionals, or analysts. Examples of analysis performed within this article are only examples. They should not be utilized to make stock portfolio or financial decisions as they are based only on limited and open source information. Assumptions made within the analysis are not reflective of the position of any analysts or financial professionals.