Tyme Technologies, Inc., a clinical-stage biotechnology company founded in 2011 and headquartered in New York that develops cancer metabolism-based therapies (CMBTs) in the United States saw its stock skyrocketing in the previous two days to record highs of over 174%.
In case you are wondering why, wonder no more. This huge surge came after the company announced that the U.S. Patent and Trademark Office (USPTO) had granted it another patent related to a COVID-19 treatment using its technology platform.
Tyme Technologies follows in the footsteps of other biotech companies that saw their stock price rise to record levels after receiving news of approval from authorities, with Moderna and Pfizer getting the same stock market shakeup after the announcement of the discovery of their COVID-19 vaccines in November last year.
How does Tyme’s metabolomic technology work?
It has been widely explained that most immune therapies and vaccines for COVID-19 focus on the external virus coating, especially the spike proteins on the coronavirus surface. That is a good approach, but it has some drawbacks. It has been discovered that genetic mutations to the virus could make these therapies and vaccines less effective.
This is where Tyme Technologies could have the advantage. The company’s experimental TYME-19 therapy should not be affected by genetic mutations to the coronavirus coat because it could limit viral replication by preventing the ability of the coronavirus to produce viral proteins and fatty acids.
Effect of obtaining the patent
As we have already seen, obtaining the patent has had the company’s stock shoot up in just a couple of hours after the announcement, and that is before TYME-19 is even fully successful. The patent’s effect is reliant on two scenarios. In case TYME-19 proves to be ineffective, then the patent will not be a big deal for Tyme Technologies but if it goes on to be successful, then the patent could protect the company’s intellectual property rights and enable it to make a lot of money in the future.
Tyme plans to advance TYME-19 into clinical testing soon and release results later this year. It also continues to enrol participants in a pivotal study of SM-88 as a potential third-line treatment for pancreatic cancer.
Another potential catalyst could be on the way this year in the form of expected results from a Phase II study conducted by the Joseph Ahmed Foundation evaluating SM-88 as maintenance monotherapy in previously treated Ewing’s sarcoma (a rare type of bone cancer) and as a salvage monotherapy in clinically advanced sarcomas.
The SM-88, a cancer metabolism-based therapy (CMBT), is in Phase II/III clinical trial to treat across 15 types of cancer, including pancreatic, lung, breast, prostate, sarcoma, and lymphoma. The company also offers TYME-18, a CMBT compound that is in preclinical stage for the treatment of solid tumours. Tyme Technologies, Inc. has a research collaboration with NYU Langone Health to advance the development of treatments for patients with metastatic cancers, including pancreatic cancer, as well as with Mayo Clinic; and a strategic collaboration with Eagle Pharmaceuticals, Inc. to advance oral SM-88 for the treatment of patients with cancer. The company was formerly known as Global Group Enterprises Corp. Tyme Technologies, Inc.
Tyme Technology has market capitalization of $294.19 million, and its stock is currently going t $2.26 per share.
Stock prices quoted in this article here could change anytime.