LONDON (Alliance News) - Diurnal Group PLC on Thursday said the US Patent & Trademark Office has granted the company a second US patent for Chronocort.
Diurnal shares almost tripled on Thursday to 62.00 pence each.
Chronocort is a cortisol replacement product for the life-long treatment of congenital adrenal hyperplasia and adrenal insufficiency.
The pharmaceutical firm said this patent expands its exclusivity position in the US, where Chronocort has already received Orphan Drug Designation from the US Food & Drug Administration.
"This second Chronocort patent provides additional in-market protection in the US, which remains a key target market for Diurnal, in addition to the potential for market exclusivity provided by the award of Orphan Drug Designation for both congenital adrenal hyperplasia and adrenal insufficiency," said Chief Executive Martin Whitaker.