UPDATE 1-ARCA gets U.S. patent related to heart drug; shrs soar
* Patent will provide Gencaro market exclusivity into 2025
* Shares up as much as 87 pct
March 26 (Reuters) - ARCA biopharma Inc (ABIO.O) said it received a U.S. patent covering methods of treating heart failure patients with the drug bucindolol based on genetic testing, sending its shares up as much as 87 percent.
The company is seeking approval for its experimental drug bucindolol hydrochloride, under the brand name Gencaro, to treat chronic heart failure and has received a fast-track designation from the U.S. Food and Drug Administration.
ARCA Chief Executive Michael Bristow said if approved for marketing, the patent will provide Gencaro market exclusivity into 2025.
The company said it expects it could begin trials on Gencaro about one year after obtaining sufficient funding and approval from the FDA.
On Thursday, ARCA submitted a revised study protocol for Gencaro for review under the U.S. FDA's special protocol assessment process.
Shares of the company were up $1.70 at $4.35 in early morning trade on Nasdaq. They touched a high of $4.95 earlier in the session. (Reporting by Shailesh Kuber in Bangalore; Editing by Maju Samuel)