The stock of NLS Pharmaceutics AG (NLSP) declined in the pre-market after the company announced in a press release about their patent issuance in the United States. The stock of NLSP traded at around $1.35 in the pre-market. This is a decline of more than 10.00% from the previously closed value. At the end of the last trading session, the stock closed at $1.50. The volume of the stock traded in the last trading session was around 1.76 million shares.
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Reasons of the stock NLSP decline
NLS Pharmaceutics AG (NLSP) in press release on 4th January, 2022 announced that the United States Patent and Trademark Office USTPO have issued a patent number 11207271 entitling Mazindol IR/SR Multilayer Tablet and its use for the treatment of ADHD or Attention Deficit/ Hyperactivity Disorder. The patent of the tablet cover the formulation having immediate release and sustained release layers of Mazindol for its use in the treatment of Attention Deficit disorder ADD or ADHD.
Since their IPO in February 2021, its intellectual property collection has been drastically strengthened. That puts NLS Pharmaceutics AG (NLSP) in a solid position. They are acticipating that the Phase 2a results for Quilience for the treatment of narcolepsy will public in the first quarter of 2022.
The current treatment in the market for the treatment of narcolepsy leaves patients unsatisfied. They are hoping that their Quilience has the extreme potential to fill the gap in the market with effective and safe treatment of narcolepsy. The company has issued patents in main markets that include the U.S., Europe, Canada, and South Korea, which covers their extended-release formulation of mazindol. These recently issued patents boost the Orphan Drug Designations, have been granted for Quilience in the large markets of the United States and Europe.
Effect on the stock decline
The news from the press release significantly affected the stock price. Investors are shying from investing in the stock of NLSP. The reason could be temporary decline and will regain its value as soon the regular trading session starts.
Conclusion
The new development in securing the patents would bring them good revenue as soon as the medicine is approved by FDA. The there is a big opportunity in the narcolepsy treatment for which the company is trying hard to find a perfect cure.
