Axcella Health Inc (NASDAQ:AXLA) saw its stock rocket some 240% higher in Tuesday’s early deals after the small-cap firm announced it had secured a patent for its treatment for ‘long’ Covid fatigue.
The company, in a statement, said its treatment candidate AXA1125, based on compositions of ‘endogenous metabolic modulators’ (otherwise referred to as EMMs) had been granted a patent from the US Patent and Trademark Office.
AXA1125 is a novel composition of EMMs designed to simultaneously support metabolic, inflammatory and fibrotic pathways associated with fatigue, Axcella highlighted.
Chief executive Bill Hinshaw told investors that the patent strengthens Axcella’s global intellectual property position and further validates AXA1125’s formulation and its tie to treating ‘long Covid’ symptoms of fatigue.
“We are pleased to have this additional designation as we pursue options to bring our investigational product forward for the benefit of the millions of people who continue to suffer from Long COVID Fatigue,” Hinshaw said.
“The understanding of the disease continues to advance and show the importance of mitochondrial function and how a mitochondrial activator like AXA1125 has the potential to impact the issues these patients face.”
In New York, Axcella was up 234% in early deals, trading at 38 cents each.