Why Is Histogen (HSTO) Stock Up 37% Today?

Histogen (NASDAQ:HSTO) stock is rising higher on Friday after getting a patent for CTS-2090.

The patent is titled “Caspase Inhibitors and Methods of Use Thereof.” It covers the company’s selective and orally active anti-inflammatory caspase inhibitors, including CTS-2090. The patent protects these products through 2040.

Alfred Spada, EVP and CSO of Histogen, said the following about the patent news.

“We are pleased that this important patent has issued. It builds upon Histogen’s growing proprietary caspase inhibitor portfolio that includes the US patent No. 11,447,497 issued in September of 2022. This previously issued patent discloses a broad class of novel pan-caspase inhibitors with unique chemical properties.”

CTS-2090 is worth noting as its showed potent oral activity in a well-characterized model of ulcerative colitis. It also has significant support as an anti-inflammatory against damage to the GI tract.

What This Means For HSTO Stock

With this patent protection, Histogen is building up a strong portfolio of medicines to treat patients. That may result in increased revenue for the company as its products are protected during their commercial runs.

This has investors excited with shares of HSTO stock seeing heavy trading on Friday. That has some 1.5 million shares changing hands as of this writing, as compared to its daily average of 69,000 shares.

HSTO stock is up 36.9% in pre-market trading on Friday.

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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

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