Neothetics share surge on patent news for LIPO-202 candidate

(Before It's News)

Shares in Neothetics Inc (NASDAQ:NEOT) climbed almost 30% to $2 a share as the specialty pharma firm revealed patent news on fat reduction candidate LIPO-202.

The patent from the United States Patent and Trademark Office (USPTO) is for specific methods of using LIPO-202 and other agents for the reduction of fat accumulation.

It is the eighth issued U.S. patent directed to Neothetics’ lead product candidate LIPO-202, which is being evaluated for the reduction of submental fat.

“This patent further strengthens our comprehensive intellectual property portfolio protecting our lead clinical asset, LIPO-202,” said Martha J. Demski, a  board member of Neothetics.

LIPO-202 already has an extremely favorable safety profile,  the firm said.

LIPO-202 is being assessed for the reduction of submental fat commonly referred to as a double-chin.

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