The Next Science Ltd (ASX: NXS) share price is on course to end the week on a high.
In morning trade the medical technology company’s shares are racing 9% higher to $1.84.
Today’s gain means that Next Science’s shares have now rallied a remarkable 84% since their IPO earlier this year.
Why is the Next Science share price racing higher?
This morning Next Science announced that it has been granted its first acne-related patent.
According to the release, the US Patent office has granted Next Science Patent No. 10,477,860 for “High Osmolarity Antimicrobial Composition Containing One or More Organic Solvents”.
This provides patent coverage for the application of Next Science’s unique Xbio technology in its Acne Gel and Acne creams.
This patent will expire on May 10 2038. It brings the total patents owned by the company and its subsidiaries to 22.
What is Xbio?
The company’s proprietary Xbio technology is designed to reduce the impact of biofilm based infections in human health. It is a unique, non-toxic technology with proven efficacy in eradicating both biofilm based and free-floating bacteria.
As chronic acne is a biofilm based infection, Next Science is aiming for its Xbio technology to become a leading treatment option.
And it looks like it has a good chance of achieving this. Its unique biofilm disrupting Xbio technology has been able to create formulae that break up the biofilm and restore the natural biome of the skin.
Today’s patent provides Next Science with a unique platform for the purpose of commercialisation and licensing in the field of acne treatment, in addition to the other technologies in its product portfolio.
Also on the rise on Friday is the Sigma Healthcare Ltd (ASX: SIG) share price. It is up 4% to 66 cents after announcing its guidance for FY 2020. This follows an announcement on November 25 revealing a first-line agreement with the My Chemist/Chemist Warehouse Group.
The post Why the Next Science share price is racing higher today appeared first on Motley Fool Australia.
Missed Next Science's gains? Then don't miss these highly rates shares.
Our Motley Fool experts have just released a brand new FREE report, detailing 5 dirt cheap shares that you can buy today.
One stock is an Australian internet darling with a rock solid reputation and an exciting new business line that promises years (or even decades) of growth… while trading at an ultra-low price…
Another is a diversified conglomerate trading near a 52-week low all while offering a 2.8% fully franked yield...
Plus 3 more cheap bets that could position you to profit over the next 12 months!
See for yourself now. Simply click the link below to scoop up your FREE copy and discover all 5 shares. But you will want to hurry – this free report is available for a brief time only.
- Man bets $221,666 on one ASX stock
- Top analysts name their top 3 ASX blue chip shares for 2019
- 3 quality dividend shares to boost your income
- NEW: Free report names top 3 ASX dividend shares to buy for 2019
- 5 Stocks for Potentially Building Wealth After 50
Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
The Motley Fool's purpose is to help the world invest, better. Click here now for your free subscription to Take Stock, The Motley Fool's free investing newsletter. Packed with stock ideas and investing advice, it is essential reading for anyone looking to build and grow their wealth in the years ahead. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson. 2019