Cardio Diagnostics Shares Rise 19% After Patent Issued

Dow Jones03-06

By Chris Wack

Cardio Diagnostics Holdings shares were up 19% to $1.54 after the company said the U.S. Patent and Trademark Office has issued a notice of allowance for a patent application titled Compositions and Methods for Detecting Predisposition to Cardiovascular Disease.

The stock closed Friday's session down 27%, and is down 77% in the past 12 months.

The company said Tuesday the notice of allowance for a patent application was issued to University of Iowa Research Foundation and is exclusively licensed to Cardio Diagnostics. It was co-invented by Cardio Diagnostics' founders, Meesha Dogan and Robert Philibert.

Cardio said this is the second U.S. patent being issued in this patent family. Patents in this patent family have also been issued in the European Union, China, India and Australia.

Write to Chris Wack at chris.wack@wsj.com

(END) Dow Jones Newswires

March 05, 2024 12:51 ET (17:51 GMT)

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