Apricus Biosciences (NASDAQ:APRI) said on Friday the Japanese Patent Office has granted it a patent for its use of a vasoactive prostaglandin E, a hormone compound, to treat premature ejaculation.
“We are very pleased with this patent allowance in Japan for the use of vasoactive prostaglandin E to treat premature ejaculation, which includes the same pharmaceutical composition as Vitaros, combined with a local anesthetic,” said Bassam Damaj, CEO of Apricus.
Vitaros is the company’s erectile dysfunction topical cream which has been approved in Canada. Like Vitaros, the premature ejaculation treatment will also be a topical cream formulation.
To date, Apricus has completed two single-blind studies and one double-blind study for the application of vasoactive prostaglandin E to treat premature ejaculation.
The patent, when issued, will last until March 2024. Besides the patent announced today, the company's premature ejaculation treatment has also received patents in Australia and Singapore. There are an additional nine applications pending.
Apricus, based in East Windsor, New Jersey, is a biopharmaceutical company that develops drugs in the areas of cancer, sexual dysfunction, and inflammation.
Since the announcement, the company’s shares have rallied roughly 3.7% to trade at $3.96 as of 1:23 pm EST.