ARTICLE | Finance

Regulatory milestones

Highlights of weekly biotech stock moves

March 29, 2010 7:00 AM UTC

Arca biopharma Inc. (NASDAQ:ABIO) gained $5.57 (210%) to $8.22 on Friday after the U.S. Patent and Trademark Office (PTO) granted the company a patent on methods for treating heart failure patients with Gencaro bucindolol based on genetic testing. Arca was up $5.48 (200%) on the week.

Ariad Pharmaceuticals Inc. (NASDAQ:ARIA) gained $0.25 to $3.44 last week after the U.S. Court of Appeals for the Federal Circuit ruled 9-2 in favor of Eli Lilly and Co. (NYSE:LLY) in a rehearing en banc of a suit alleging the pharma infringed an Ariad patent. The court ruled U.S. Patent No. 6,410,516, which covers methods of reducing NF-kappa B (NF-kB) activity, was invalid because it lacked a written description demonstrating the inventor had actually claimed the subject matter instead of only providing hypotheses. ...