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A medical technology company, BARD1 Life Sciences Limited (ASX: BD1) is primarily involved in the research and development of non-invasive diagnostic tests for early detection of cancer.
In an announcement dated 3rd June 2019, the company reported that it has received confirmation from the European Patent Office (EPO) that granted European Patent no 2606358 entitled âBARD1 isoforms in lung and colorectal cancer and use thereofâ has now been validated in France, Germany, Italy, Spain, Switzerland and the United Kingdom.
Earlier, on 26th December 2018, the European Patent Office granted European Patent no 260663; however, it was not enforceable as it required validation in the designated countries. In todayâs announcement, the company confirmed that EP260663 has now been validated in France, Germany, Italy, Spain, Switzerland and United Kingdom, making it enforceable in these countries.
The company has advised that this patent family (PCT/IB2011/053635) is protecting the sequence of various BARD1 isoforms specific to lung and colorectal cancer. The granted EP260663 claims are directed towards lung cancer.
Through its fully-owned subsidiary, BARD1AG SA, the company has an exclusive global license to the commercial rights to this intellectual property from UNIGE/HUG.
Earlier, on 1st May 2019, the company as well announced that it has received Issue Notification from the United States Patent and Trademark Office (USPTO) confirming the issue of United States Patent no 10,273,475 on 30th April 2019.
Interim Results
For the half-year ended 31 December 2018, the company reported a loss per share of 0.11 cents based on a net loss totalling $879,642. The company earned revenues from ordinary activities of $27,567 in H1 FY19, as compared to $28,884 in pcp, representing a decline of 4.6%.
Interim Results (Source: Company reports)
During the half year period, the company raised $3.315 million (before costs) in a non-renounceable Entitlement Issue and Shortfall Offer and ended the half-year with a solid cash position of $3.7 million. Further, the company also initiated the BC-001 study to develop and evaluate the accuracy of a world-first BARD1-Breast cancer test for the early detection of breast cancer.
During the half-year, BARD1 announced positive results from its OC-R001 Study to evaluate and compare the accuracy of the improved BARD1-Ovarian test to detect ovarian cancer in high-risk women with a family history of breast/ovarian cancer or carrying BRCA1/2 mutations.
Stock Performance:
Now, letâs have a glance at the companyâs stock performance and the returns it has posted over the past few months. On 3rd June 2019, the companyâs stock closed the dayâs trade at $0.019, down 5%, with a market capitalisation of circa $19.89 million. The counter opened the day at $0.021 and reached the dayâs high of $0.022.
The stock has provided a YTD return of -9.09% and also posted returns of -4.76%, 25.00% and 5.26% over the past six months, three months and one-month period, respectively. Its 52-week high and low price stands at $0.073 and $0.010, with an average volume of ~4,900,319.
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