Island Pharmaceuticals (ASX:ILA) received a patent from the US Patent and Trademark Office for the use of its antiviral drug, Galidesivir, in the treatment of COVID-19, according to a Friday filing with the Australian bourse.
The US patent provides the company with protection to pursue treatment options for COVID-19 infections using Galidesivir until July 18, 2042, the filing said.
Shares of the company rose 7% in recent Friday trade.
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