Home Pharmaceutics NLS Pharmaceuticals (NLSP) stock: why it rose 5.21%

NLS Pharmaceuticals (NLSP) stock: why it rose 5.21%

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  • The share price of NLS Pharmaceuticals (NLSP) rose 5.21% in the previous trading session. That is why.

The share price of NLS Pharmaceutics (NLSP) – a clinical-stage Swiss biopharmaceutical company focused on the discovery and development of innovative therapies for patients with rare and complex central nervous system disorders – rose 5.21 % in the previous trading session. Investors respond positively to NLS Pharmaceutics by announcing that the Japan Patent Office (JPO) has notified the company of its decision to grant patent application 2018-546837 for the proprietary formulation of Quilience (Mazindol ER).

Once granted, the patent will cover oral formulations containing immediate release and sustained release layers of mazindol and their use in the treatment of attention deficit/hyperactivity disorder (ADHD), excessive daytime sleepiness (EDS), including narcolepsy and idiopathic hypersomnia (IH).

KEY QUOTE:

“We are delighted to obtain patent coverage in another major market for our proprietary formulation of Quilience to treat ADHD, Narcolepsy and IH. Given our patent heritage and the orphan drug designations we have in the US and Europe, we believe our proprietary position on Quilience is strong. We look forward to publishing final results from our Phase 2a narcolepsy trial for Quilience in late September 2022 and also providing an update from the open-label extension study later this year.

— Alex Zwyer, President and CEO of NLS