The 4DS Memory Ltd (ASX: 4DS) share price is rising against the tide of today's negative ASX market trend following its recent patent approval.
After flatlining all morning then surging 5.4% around midday, the memory storage provider's shares are now swapping hands for 19 cents apiece, up 2.7% at the time of writing.
Patent update
After digesting the announcement, investors are gearing up momentum, pushing the 4DS Memory share price higher.
In today's release, 4DS Memory advised that it has been granted an additional patent to add to its portfolio. Approved by the United States Patent & Trade Mark Office, this brings the company's total number of granted patents within the US to 30.
The new patent is titled Resistive Memory Device Having An Oxide Barrier Layer (patent number 10,950,788).
The company noted that its patents and applications were all developed in-house and were wholly-owned. This gives 4DS peace of mind away from royalty and licencing commitments.
In addition, 4DS Memory has submitted two further patent applications to the US patent office. These patents protect the company's intellectual property regarding Interface Switching ReRAM for Storage Class Memory near to DRAM.
What did the head of management say?
Commenting on the approval, 4DS Memory CEO and managing director Dr Guido Arnout said:
The granting of the 30th 4DS patent strengthens an already extensive portfolio of patents for Interface Switching ReRAM.
These patents and additional filed applications are strategically important for the commercialisation of 4DS technology going forward.
4DS Memory share price snapshot
The 4DS Memory share price has gained more than 350% in the past 12 months and over 50% year-to-date. The company's shares hit a high of 28 cents in late January after investor hype grew over the results of its second non-platform lot.
4DS Memory commands a market capitalisation of around $250.5 million at today's price, with roughly 1.3 billion shares on issue.
