* Patent will provide Gencaro market exclusivity into 2025
* Shares up as much as 87 pct
March 26 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
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
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