The latest: Ascletis Pharma Inc. (1672.HK) said on Monday the U.S. Patent and Trademark Office (USPTO) has granted it a patent for its oral viral polymerase inhibitor ASC10 and its derivatives, and their uses to treat multiple virus infections including Covid-19, monkeypox and respiratory syncytial virus (RSV).

Looking up: Ascletis has become the first Chinese biotech company granted a U.S. patent for a self-developed oral viral polymerase inhibitor and its derivatives, which will be commercially protected until 2042.

Take Note: ASC10 is only in clinical trials for the treatment of the Covid-19 and monkeypox viruses, and the company says there is no guarantee that the drug will eventually be successful.

Digging Deeper: Ascletis self-developed ASC10 and has full global rights for the drug. Phase 1 clinical data showed ASC10, which is used as an oral drug for Covid-19, was safe and well tolerated in Chinese subjects. Preclinical studies have also shown the drug induces broad-spectrum antiviral activity against a variety of viruses, including monkeypox. As a result, Ascletis has filed several patent applications worldwide for ASC10 and its use in the treatment of viral diseases.

Market Reaction: Ascletis Pharmasurged 28.4% on Tuesday morning after the announcement and closed up 26.9% at HK$4.39 by the midday break. The stock now trades around its 52-week midpoint.

Translation by Jony Ho

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