What’s going on with the Inoviq (ASX:IIQ) share price today?

The company is set to finish the week on a high note.
The post What’s going on with the Inoviq (ASX:IIQ) share price today? appeared first on The Motley Fool Australia. –

The Inoviq Ltd (ASX: IIQ) share price is racing higher during early Friday afternoon. This comes after the medical diagnostics company announced it has secured a new patent for diagnosing lung cancer.

At the time of writing, Inoviq shares are up 4.21% to $1.115 apiece. In contrast, the All Ordinaries (ASX: XAO) is up 0.63% to 7,755.9 points.

Inoviq granted new patent protection

Investors are pushing Inoviq shares higher after digesting the company’s positive update.

In its release, Inoviq advised that it has been granted a patent to add to its growing portfolio. Approved by the Chinese Patent Office, the latest addition will seek to further protect Inoviq’s intellectual property.

Titled, ‘Lung Cancer Diagnosis’, the new patent explains the methods towards detecting antibodies to BARD1 peptides. This is for diagnosing lung cancer and developing an autoantibody test kit in the world’s second biggest health care market.

The new patent is set to expire on 5 February 2035.

Inoviq CEO, Dr Leearne Hinch commented:

This patent enforces intellectual property protection in China for a potential BARD1-Lung cancer test that detects autoantibodies associated with lung cancer. Patent family PCT/EP2014/073834 now has seven granted patents in Australia, China, Israel, Japan, Korea, Singapore and the USA.

Quick take on Inoviq

Formerly known as BARD1 Life Sciences, Inoviq is an Australian-based medical diagnostics company that is focused on developing and commercialising non-invasive diagnostic tests for early detection of cancer.

The company’s proprietary technology platform is based on novel tumour markers with potential diagnostic and therapeutic applications across multiple cancers. The pipeline includes two development-stage autoantibody tests for early detection of lung and ovarian cancers.

Inoviq is headquartered in Perth, Australia, and has contract research laboratories at the University of Geneva, Switzerland.

Inoviq share price summary

In the past 12 months, Inoviq shares have accelerated to more than 60%. However, year-to-date performance has further jumped to post a gain above 66%.

Based on valuation metrics, Inoviq presides a market capitalisation of roughly $102.60 million, with approximately 92.02 million shares outstanding.

The post What’s going on with the Inoviq (ASX:IIQ) share price today? appeared first on The Motley Fool Australia.

Should you invest $1,000 in Inoviq right now?

Before you consider Inoviq, you’ll want to hear this.

Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Inoviq wasn’t one of them.

The online investing service he’s run for nearly a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.

*Returns as of August 16th 2021

More reading

Why has the BARD1 (ASX:BD1) share price vanished from the ASX boards?

Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

Trade The World Anywhere & Anytime!

Mobile app platform with over 50,000 global listed securities across 12 markets (over 70% global market capitalisation), right from your Android or iOS device.

Integrated with exclusive trading idea and investment analysis tools to help you find actionable insight on virtually every financial instrument across our 12 global markets, to help you optimise your trading strategies.

Refer Your Friends

Tell your friends about Monex and gift them FREE access to our trading tools.

We respect your privacy and will only send this one email notification to your friends. 

Share With Your Friends

Share on facebook
Share on twitter
Share on linkedin

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;

To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.

An active and funded account with a positive trading balance is required to continue to have access to the tools;

Although the tools are available to you indefinitely, Monex Securities may at it’s discretion disable access to the tools in the future;

Monex securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

Important Notice
iOS & Android App - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US Trades. Click Here!