ParkerVision, Inc. (NASDAQ:PRKR) shares are soaring by 15% to $2.98 in Wednesday’s trading. The Patent Trial and Appeal Board (PTAB) has just issued its latest decisions on the dispute between semiconductor developer ParkerVision and its larger rival Qualcomm. PRKR has enjoyed a partial success as the board announced that it is increasing the number of decisions in PRKR’s favor to six out of ten petitions.
There are now no further challenges to ParkerVision patents with the PTAB. Three reviews were previously decided in PRKR’s favor back in March 2016, after the board found that the evidence submitted by Qualcomm did not show that these claims were un-patentable.
Parkervision CEO Jeffrey Parker says, “We continue to take positive steps forward in our Qualcomm proceedings and believe these results are indicative of the strength of Parkervision’s innovations … We are pleased that the PTAB confirmed the validity of claims from both of the patents we chose to defend.”
Kitov Pharmaceuticals Holdings Ltd (ADR) (NASDAQ:KTOV) shares are rising over 9% in today’s trading to $2.15 after the company signed a license agreement for one of its main products in South Korea. The product, KIT-302, has been developed to simultaneously treat hypertension and pain caused by osteoarthritis. Now Kuhnil Pharmaceutical Co. Ltd., a leading South Korea-based pharmaceutical company, will have the exclusive right to manufacture, distribute and sell KIT-302 in South Korea. Kuhnil will also apply for South Korean regulatory approval for the drug- which is expected to go on sale in South Korea in 2019.
The press release reveals that Kitov will receive milestone payments upon predefined regulatory milestones, as well as double digit royalties on net sales. The initial term of the definitive agreement is for ten years plus an extra renewable year from the first commercial sale.
Kitov also said that there is potential to expand the collaboration into other territories in the Far East.
Seanergy Maritime Holdings Corp. (NASDAQ:SHIP) shares are also up by 6% to $1.00 on the news that the company has agreed the early termination of a credit facility with one of its senior lenders. The company is expected to gain $11.4 million and an additional 30% of the company’s shares from the transaction. SHIP says the applicable credit facility is secured by one of its modern Sungdong Capesize vessels.
SHIP, which provides marine dry bulk transportation services, currently owns a modern fleet of ten dry bulk carriers, consisting of eight Capesizes and two Supramaxes. SHIP now has until September 29 to satisfy the full amount of the facility by making a prepayment of the outstanding facility amount reduced by 29%.
Finally, Opko Health Inc.(NASDAQ:OPK) shares are currently up 2.96%, following the news that the European Commission is designating OPKO’s CUR-1916 an orphan medicinal product for the treatment of Dravet Syndrome. The syndrome is a rare genetic form of severe epilepsy that begins in the first year of a child’s life and results in long term disability.
An orphan medicinal product is the name given to medicines intended to treat, prevent or diagnose life threatening and debilitating rare diseases and for which no satisfactory method of treatment exists. Following the designation, sponsors can receive incentives such as market exclusivity for a ten-year period following approval, protocol assistance, and potential fee reductions.
It’s possible that Opko will also receive the same status in the US where an Orphan Drug Application is under review by the FDA. There is currently no approved treatment for Dravet Syndrome in the US.
The market is bullish on the stock which has a strong buy analyst consensus rating with 3 buy and 1 hold ratings published in the last three months. According to financial accountability engine TipRanks the average analyst price target of the stock is $13.38 which represents a substantial 68.30% upside from the current share price of $7.95.