Stock To Watch – Arca Biopharma
Mar 28, 2010 Company News, Stock to watch
Arca Biopharama (ABIO), which develops genetically-targeted therapies for heart failure and other cardiovascular diseases, saw its shares rally an incredible 210% on Friday, on a $5.57 move to $8.22.
The stock should continue the rally this week and provide some nice gains for traders getting into the stock.
The company put out a press release on Friday March 26, saying it had recieved a Notice of Allowance from the United States Patent office for its patent application entitled “Methods for Treatment with Bucindolol Based on Genetic Targeting.”
The Notice of Allowance basically means the patent, which provides coverage for methods of treating heart failure patients with bucindolol based on genetic testing, will be issued.
The company is currently developing a bucindolol hydrochloride based treatment for chronic heart failure under the trade name Gencaro.
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