Company Update (NASDAQ:ACUR): Acura Pharmaceuticals, Inc. USPTO Issues Notice of Allowance for Novel Limitx(TM) Abuse Deterrent Technology
Acura Pharmaceuticals, Inc. (NASDAQ:ACUR), a specialty pharmaceutical company innovating abuse deterrent drugs, announced receipt from the United States Patent and Trademark Office (“USPTO”) of a Notice of Allowance for a non-provisional patent application related to our abuse deterrent LIMITX™ Technology platform. A U.S. patent relating to this Notice of Allowance will be granted by the USPTO after the Company pays the required fees.
Claims in the underlying patent application are the basis of our LIMITX Technology which is designed to address opioid abuse via the oral route of administration. LIMITX contains ingredients that are intended to reduce or limit the rate or extent of opioid release when multiple tablets are ingested.
When issued, this will be the first U.S. patent directed at products developed with the LIMITX Technology. (Original Source)
Shares of Acura closed last Friday at $0.91 . ACUR has a 1-year high of $1.35 and a 1-year low of $0.41. The stock’s 50-day moving average is $0.84 and its 200-day moving average is $0.71.
On the ratings front, MLV & Co. analyst Vernon Bernardino maintained a Buy rating on ACUR, with a price target of $2, in a report issued on June 17. The current price target implies an upside of 119.8% from current levels.
According to TipRanks.com, Bernardino has a total average return of -4.4%, a 41.9% success rate, and is ranked #3380 out of 3681 analysts.
Acura Pharmaceuticals Inc is a pharmaceutical company. It is engaged in the research, development & manufacture of productto address medication abuse & misuse, utilizing the Company’s proprietary, tamper-resistant AVERSION& IMPEDEtechnology platforms.