RegeneRx Biopharmaceuticals (OTCBB:RGRX) announced late Thursday afternoon that it has received a notice of allowance from the U.S. Patent and Trademark Office for its application claiming methods for treating, preventing, inhibiting or reducing tissue deterioration due to congestive heart failure disease using Thymosin beta 4 (Tβ4), its isoforms and fragments, and important analogs. The patent is projected to expire July 2027.

Shares rose 7.41% on the news on slightly higher than average volume.

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Late last month, RegeneRx announced that treatment and follow-up have been completed on 69 patients in the Company’s Phase 2 clinical trial with RGN-259 for the treatment of dry eye syndrome, five more than the number of evaluable patients contemplated in the trial’s protocol. After all study data completes the quality control process and data lock it will then undergo statistical analyses. The trial is on schedule for top-line results to be reported in late October. That trial is a double-masked, placebo-controlled trial testing the safety and efficacy of RGN-259, the Company's proprietary preservative-free eye drops, against a placebo.

Patients enrolled in that trial were scheduled to receive RGN-259 or placebo twice daily for 30 days. Signs and symptoms of dry eye, such as the degree of ocular surface damage, ocular itching, burning and inflammation, among others, will be measured periodically during the treatment period.

RegeneRx also announced on Thursday afternoon that it had received a patent in Mexico for treating or preventing biological or immunological response to reactive chemical, biological, or toxic agents using Tβ4.

RGRX is a clinical-stage, biopharmaceutical company engaged in the design, research and development of novel peptides targeted at diseases with unmet medical needs. It was founded in 1982 with a mission to research and develop novel pharmaceuticals that protect and repair tissue and organ damage caused by disease, trauma or other pathology.

RegeneRx's products include: RGN352 for the treatment of Acute Myocardial Infarction; RGN137, a topical gel formulation of the peptide Tbeta4, as a novel treatment to accelerate dermal wound healing; RGN-259, a Tbeta4-based sterile eye drop, as a novel treatment for corneal healing; and RGN-457 as a novel inhaled (via nebulization) treatment for cystic fibrosis and bronchiectasis.

In March 2011 the FDA placed a “clinical hold” on the Company's Phase 2 AMI trial due to cGMP issues at a contract manufacturer’s site formulating RGN-352. The timing for the resumption of that trial are unclear.

The firm has 79.96M shares outstanding with 42.48M in the float. 31.35% of those shares are held by insiders. Shares are currently in an up-trend and trading just above their 50-day moving average, only three cents below their 52-week high.

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