Avanir shares boosted by news of Zenvia patent

Shares of Avanir Pharmaceuticals got a boost this morning after the developer announced that it had obtained a new patent on its late-stage therapy Zenvia, which is intended to prevent uncontrollable bursts of crying and laughing. The patent will extends Zenvia's commercial exclusivity period until well into 2025.

Investors liked the sound of that, and bid up Avanir's shares by seven percent. Last August Avanir reported that Zenvia had successfully hit the primary endpoint in a late-stage trial.

"We were little bit surprised that they got it (new patent) this early. I was expecting it later," said Summer Street Research analyst Carol Werther.

- read the story from Reuters