Ritter Pharmaceuticals Inc (NASDAQ:RTTR)
Ritter Pharmaceuticals Inc (NASDAQ:RTTR), a novel therapeutics developer, has revealed that it has been issued with three patents connected with the development of its RP-G28 compound. Two of the patents have been issued in the United States while one has been issued in Australia.
The two patents issued in the United States, are connected with compositions that contain RP-G28 as well as techniques of RP-G28 use that will further strengthen RP-G28’s intellectual property positions. The patent that was issued in Australia will also offer extra global protection for compositions which contain the RP-G28 compound.
“We are pleased to add these additional issued patents to our portfolio of issued and pending claims, providing both validation and protection for our compound, RP-G28, in development for the treatment of lactose intolerance,” said the co-founder, president and chief executive officer of Ritter Pharmaceuticals, Michael Step.
Total number of issued patents
Ritter Pharmaceuticals Inc (NASDAQ:RTTR) now possesses 15 issued patents which are expected to offer protection to the firm’s compound and its use beyond 2030. The pharmaceutical firm also has 25 pending patent applications.
At present Ritter Pharmaceuticals Inc (NASDAQ:RTTR) has been making preparations for the third phase of the trials after the company held preliminary discussions with the U.S. Food and Drug Administration (FDA) and its own regulatory experts.
According to Ritter Pharmaceuticals Inc (NASDAQ:RTTR) the pharmaceutical company will hold another meeting with the FDA where plans for the third phase of the trials will be discussed with a view to getting guidance on how to proceed as well as clinching an agreement on the expectations prior to the filing of an NDA for the commercialization of RP-G28.
Phase III study
Ritter Pharmaceuticals Inc (NASDAQ:RTTR) expressed hope that if the Phase 3 study turned out positive clinical results, that would potentially be sufficient to ensure the successful filing of the New Drug Application. The CEO of Ritter Pharmaceuticals also revealed that the company had defined what would constitute a clinically meaningful benefit for patients. Ritter added that primary endpoints for the trial had been established.
In Ritter Pharmaceuticals Inc (NASDAQ:RTTR)’ first quarter results, the company reported a net loss of $1.7 million and this was lower than 2016’s first quarter loss of $3.1 million. Net loss per share amounted to $0.14 in the first quarter of 2017. At the end of the quarter, cash held by Ritter Pharmaceuticals amounted to $5.1 million.
On Tuesday shares of Ritter Pharmaceuticals Inc (NASDAQ:RTTR) fell by 2.78% to close the day at $0.70.
I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.
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About the author: Steve Clark is a 23-year Wall St professional with stints in M&A, risk management, and algorithm trading.