I also tried to figure out if this is something ne
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Posted On: 02/11/2021 10:56:49 PM
I also tried to figure out if this is something new. If you go to this link, it shows an "international filing date" of 31 July 2020.
https://patentscope.wipo.int/search/en/detail...ARCHREPORT
The following is from "Notes to Financial Statements", note 8 "Acquisition of Patents and Intangibles" on the 11/30/2020 quarterly report (10-Q) (link below):
The Company consummated an asset purchase on October 16, 2012, and paid $3,500,000 for certain assets, including intellectual property, certain related licenses and sublicenses, FDA filings and various forms of the leronlimab (PRO 140) drug substance. The Company followed the guidance in ASC 805, Business Combinations, to determine if the Company acquired a business. Based on the prescribed accounting, the Company acquired assets and not a business. As of November 30, 2020 and 2019, the Company has recorded and is amortizing $3,500,000 of intangible assets related to the patent rights acquired. The Company estimates the acquired patent has an estimated life of ten years. Subsequent to the acquisition date, the Company has continued to expand, amend and file new patents central to its current clinical trial strategies, which, in turn, have extended the protection period for certain methods of using leronlimab (PRO 140) and formulations comprising leronlimab (PRO 140) out through at least 2031 and 2038, respectively, in various countries.
https://www.sec.gov/cgi-bin/viewer?action=vie...rl_type=v#
That note also includes a reference to assets purchased from ProstaGene’s founder and Chief Executive Officer, Richard G. Pestell. (It also notes that litigation is ongoing.)
Assets acquired from ProstaGene include (1) patents issued in the United States and Australia related to “Prostate Cancer Cell Lines, Gene Signatures and Uses Thereof” and “Use of Modulators of CCR5 in the Treatment of Cancer and Cancer Metastasis,” ...............
The following is pure speculation on my part as I have no experience in patents. They said they would continue to expand, amend and file new patents to extend the patent protection period. I believe the PatentScope document is proof that they are doing what they said they were going to do. I am not sure if that patent has been approved, but at this point, I am not sure that it really matters. They are indeed working to extend the life of the patents.
With regard to whether or not this was responsible for some of today's price surge, it seems doubtful to me, but this is just my guess. Others may see it differently. Those who "Googled" Leronlimab today would have found the PatentScope document and perhaps some bought on speculation that this is big news (and it could be - I can't say definitely that it is not.)
In summary: To me the most important aspect of this is evidence that they are taking care of business in regard to patents.
https://patentscope.wipo.int/search/en/detail...ARCHREPORT
The following is from "Notes to Financial Statements", note 8 "Acquisition of Patents and Intangibles" on the 11/30/2020 quarterly report (10-Q) (link below):
The Company consummated an asset purchase on October 16, 2012, and paid $3,500,000 for certain assets, including intellectual property, certain related licenses and sublicenses, FDA filings and various forms of the leronlimab (PRO 140) drug substance. The Company followed the guidance in ASC 805, Business Combinations, to determine if the Company acquired a business. Based on the prescribed accounting, the Company acquired assets and not a business. As of November 30, 2020 and 2019, the Company has recorded and is amortizing $3,500,000 of intangible assets related to the patent rights acquired. The Company estimates the acquired patent has an estimated life of ten years. Subsequent to the acquisition date, the Company has continued to expand, amend and file new patents central to its current clinical trial strategies, which, in turn, have extended the protection period for certain methods of using leronlimab (PRO 140) and formulations comprising leronlimab (PRO 140) out through at least 2031 and 2038, respectively, in various countries.
https://www.sec.gov/cgi-bin/viewer?action=vie...rl_type=v#
That note also includes a reference to assets purchased from ProstaGene’s founder and Chief Executive Officer, Richard G. Pestell. (It also notes that litigation is ongoing.)
Assets acquired from ProstaGene include (1) patents issued in the United States and Australia related to “Prostate Cancer Cell Lines, Gene Signatures and Uses Thereof” and “Use of Modulators of CCR5 in the Treatment of Cancer and Cancer Metastasis,” ...............
The following is pure speculation on my part as I have no experience in patents. They said they would continue to expand, amend and file new patents to extend the patent protection period. I believe the PatentScope document is proof that they are doing what they said they were going to do. I am not sure if that patent has been approved, but at this point, I am not sure that it really matters. They are indeed working to extend the life of the patents.
With regard to whether or not this was responsible for some of today's price surge, it seems doubtful to me, but this is just my guess. Others may see it differently. Those who "Googled" Leronlimab today would have found the PatentScope document and perhaps some bought on speculation that this is big news (and it could be - I can't say definitely that it is not.)
In summary: To me the most important aspect of this is evidence that they are taking care of business in regard to patents.
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