JanOne jumps on U.S. patent for potential treatment for peripheral artery disease

AI Financial

07/06/2022 15:07

** JanOne Inc's  JAN.O  shares jumping 47.9% to $3.70 early
Tues after patent announcement
    ** Co says U.S. patent issued covering method of improving
nerve function using JAN101, its potential treatment for
peripheral artery disease (PAD)  urn:newsml:reuters.com:*:nPn34RBBda
    ** PAD is a vascular disease that affects more than 8.5 mln
people in this country and more than 60 mln globally
    ** Last Tues, shares more than doubled before closing up
66.5% at $3.73 after co sold its unit, GeoTraq, to SPYR
Technologies  SPYR.PK  to help fund clinical trials of lead
candidate, JAN101  urn:newsml:reuters.com:*:nL4N2XN2WK
    ** With move on the session, shares down 9% YTD
    ** Trading volume of ~45 mln shares so far compares to
10-DMA of ~3.5 mln, per Refinitiv data
    ** Co has ~2.8 mln shares outstanding and ~2.3 mln of public
float - Refinitiv

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-332-219-1430))