TrovaGene Inc (NASDAQ:TROV), a developer of cell-free molecular diagnostics, announced today that the U.S. Patent and Trademark Office has issued Patent No 9,163,229 B2 entitled “Compositions, Methods and Kits for Isolating Nucleic Acids from Body Fluids Using Anion Exchange Media.” The patent encompasses methods for rapid separation, isolation of systemically derived ctDNA, and purification of nucleic acids from urine samples using anion exchange media. The patent claims expand the intellectual property covering Trovagene’s Precision Cancer MonitoringSM (PCM) technology.
“Issuance of this patent further strengthens Trovagene’s extensive patent portfolio supporting our Precision Cancer Monitoring platform,” said Antonius Schuh, Ph.D., chief executive officer of Trovagene. “The vast majority of systemically derived DNA is manifested as short DNA fragments, and this patent continues to broaden this technical cornerstone of our urine-based cancer monitoring application. Issuance of this patent underscores Trovagene’s focus on protecting our proprietary technologies and establishing a sustainable competitive advantage in the liquid biopsy market segment.”
Trovagene now has 87 patents issued and 61 patent applications pending in the U.S. and internationally. Of these, 59 issued patents are related to Trovagene’s Precision Cancer Monitoring technology and the detection of cell free nucleic acids in bodily fluids. (Original Source)
Shares of TrovaGene Inc closed yesterday at $5.48, up $0.44 or 8.73%. TROV has a 1-year high of $13.58 and a 1-year low of $4.12. The stock’s 50-day moving average is $5.46 and its 200-day moving average is $7.20.
On the ratings front, TrovaGene has been the subject of a number of recent research reports. In a report issued on October 27, Maxim Group analyst Jason Kolbert maintained a Buy rating on TROV, with a price target of $13, which represents a potential upside of 137.2% from where the stock is currently trading. Separately, on September 15, Cantor Fitzgerald’s Bryan Brokmeier initiated coverage with a Buy rating on the stock and has a price target of $10.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Jason Kolbert and Bryan Brokmeier have a total average return of -16.8% and 9.5% respectively. Kolbert has a success rate of 26.5% and is ranked #3628 out of 3632 analysts, while Brokmeier has a success rate of 57.1% and is ranked #564.
TrovaGene Inc is a development stage molecular diagnostic company. It focuses on the development and marketing of urine-based nucleic acid tests for patient/disease screening and monitoring.