BARD1 Life Sciences (ASX:BD1) share price leaps 16% on US patent news

The company’s shares are set to finish the week on a positive note.

| More on:
Two scientists in a Rhythm Biosciences lab cheer while looking at results on a computer.

Image source: Getty Images

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

The BARD1 Life Sciences Ltd (ASX: BD1) share price is rocketing on Friday morning. This comes after the medical diagnostics company announced it has secured a new patent.

At the time of writing, BARD1 shares are shooting 16.16% higher to $1.15 apiece. In context, the All Ordinaries Index (ASX: XAO) is up 0.94% to 7,751.5 points.

BARD1 furthers patent protection

Investors are pushing BARD1 shares higher after digesting the company’s positive update.

In its release, BARD1 advised that it has been granted a patent to add to its growing portfolio. Approved by the United States Patent and Trademark Office, the latest addition will seek to further protect BARD1’s intellectual property.

Titled, ‘Lung Cancer Diagnosis’, the new patent explains the methods towards detecting antibodies to BARD1 peptides. This is for diagnosing lung cancer and developing an autoantibody test kit in the world’s biggest health care market.

The new patent is set to expire on 5 February 2035.

BARD1 CEO, Dr Leearne Hinch commented:

This patent family enforces intellectual property protection in the US for a potential BARD1-Lung cancer test that detects autoantibodies associated with lung cancer.

Quick take on BARD1

Founded in 2016, BARD1 is an Australian-based medical diagnostics company that is focused on developing and commercialising non-invasive diagnostic tests for early detection of cancer.

The company’s proprietary technology platform is based on novel tumour markers with potential diagnostic and therapeutic applications across multiple cancers. The pipeline includes two development-stage BARD1 autoantibody tests for early detection of lung and ovarian cancers.

BARD1 is headquartered in Perth, Australia, and has contract research laboratories at University of Geneva, Switzerland.

BARD1 share price summary

In the past 12 months, BARD1 shares have accelerated 60%. However, year-to-date performance has further jumped to post a gain of 69%.

Based on valuation metrics, BARD1 presides a market capitalisation of roughly $105.72 million, with approximately 91.93 million shares outstanding.

Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

More on Healthcare Shares

A man wearing a white coat holds his hands up and mouth open with joy.
Healthcare Shares

‘Excited about the pipeline’: Why Wilson says the CSL share price is in the buy zone right now

Could the CSL share price rise?

Read more »

A group of three scientists talking excitedly while working in a lab on a diabetes test developed by Proteomics International Laboratories which is an ASX share tipped to explode by Alto Capital
Healthcare Shares

Why is the Paradigm Biopharmaceuticals share price up 12% on Monday?

It's been a cracking start to the week for the ASX-listed drug repurposing company.

Read more »

A man sits in a chair hunched over a laptop and covered head to toe in frozen icicles to represent Envirosuite's trading halt
Healthcare Shares

Why is the Mesoblast share price still not moving today?

Mesoblast shares won't be going anywhere for the next few days.

Read more »

A person plunges into the pool with only their feet visible above the surface, diving through a heart-shaped inflatable ring.
Share Fallers

Here’s why the Medical Developments share price is sinking 17% on Monday

The share has caught sellers attention today.

Read more »

Happy healthcare workers in a labs
Healthcare Shares

Mayne Pharma share price lifts on FDA approval

It's a good start to the trading week for the ASX pharmaceutical company.

Read more »

A little boy surrounded by green grass and trees looks up at the sky, waiting for rain or sunshine.
Healthcare Shares

‘World’s largest portfolio’: Why this ASX cannabis share is up 36% in August

Investors have rewarded recent news.

Read more »

Three Archer Materials scientists wearing white coats and blue gloves dance together in their lab after making a discovery
Healthcare Shares

Up 50% in a month: Why all these fundies predict more greatness for the Telix Pharmaceuticals share price

Several professional fund managers say the Telix Pharmaceuticals share price is on a growth trajectory. Here's why.

Read more »

Stethoscope with a piggy bank and hundred dollar notes.
Dividend Investing

Medibank shares are currently trading on a 4% dividend yield. How does this compare to NIB?

Medibank vs. NIB... who wins when it comes to dividends?

Read more »