TYME Stock Pops: Why This Penny Stock Jumped 70% on Patent News

“This delivery technology is another example of our innovative spirit at Tyme. Even though this approach is still in its early stages, if proven, it has the potential to be a broadly leveraged platform technology.” -Richie Cunningham, CEO of Tyme

Tyme Technologies Inc (NASDAQ: TYME) is running today after the biotech announced additional patents for its drug-delivery technology.

TYME stock jumped as much as 70% in today’s session and at writing, shares were holding about 60% higher.

The rally comes after Tyme Technologies said, “it has received notification that the United States Patent and Trademark Office has granted additional patent claims related to the Company’s metabolomic technology platform.”

That patent covers Tyme’s technology to provide “targeted delivery of therapeutics to cancer cells.”

The company says it “has developed a technology by which the tyrosine isomer racemetyrosine (α-methylparatyrosine) can be fused with a second therapeutic agent in a manner that creates a fusion compound that may allow targeted delivery to the cancer cells in a novel manner.”

“This method of delivery is predicated on the metabolic phenomenon in which cancer cells consume higher quantities of non-essential amino acids, including tyrosine, from their surrounding environment to support their growth because they cannot make enough of these amino acids.”

Tyme’s Chief Scientific Officer Steve Hoffman said, “This technology could provide Tyme an opportunity to expand its current cancer-metabolism based approach with a drug delivery platform that’s aimed to deliver toxic therapies in a targeted manner that could offer improved safety and efficacy for a range of anticancer drugs.”

The company said the technology is “an investigational method of drug delivery in the pre-clinical phase of development”.

It has not yet been approved to be used in the U.S. and Tyme plans to conduct further studies and trials this year.

Tyme’s work is “developing cancer metabolism-based therapies (CMBTs™) that are intended to be broadly effective across tumor types and have low toxicity profiles.”

The company says its “therapeutic approach is designed to take advantage of a cancer cell’s innate metabolic weaknesses to compromise its defenses, leading to cell death through oxidative stress and exposure to the body’s natural immune system.”

Its lead therapy is a novel compound known as SM-88.

Tyme says clinical trials have shown that therapy to be effective against 15 different cancers including pancreatic, lung, breast, prostate, and sarcoma cancers.

The treatment is currently being evaluated in an “adaptive randomized Phase 2/3 clinical trial for patients with second-line pancreatic cancer.”

The company plans to begin enrollment for a Phase 2 trial of the therapy for breast cancer in the third quarter of 2021 and continue enrollment for its Phase 2 trial in high-risk metastatic sarcomas.

Fast Five About TYME Stock

Tyme Technologies was founded in 2011 and is headquartered in Bedminster, NJ.
Tyme stock closed at $1.08 per share on Friday.
Trading volume jumped to more than 147 million shares today.
The company closed a $100 million registered direct offering of common stock in February.
Tyme previously received a patent for its TYME-19 therapy it is developing for the possible treatment of COVID-19.