Amarantus BioSciences Inc (OTC:AMBS) shares surged sharply on Tuesday after the company provided latest update about its corporate to its shareholders.
The company said that it is planning to utilize its core scientific understanding of Parkinson’s disease and related areas of neuroscience to identify and advance product development opportunities that fill gaps of significant unmet medical need.
The company has already initiated a corporate mandate to identify complementary assets to diversify and strengthen its pipeline and will work with its current stakeholders as well as experts in the field to execute upon this strategy.
The company has already received a Notice of Allowance from the U.S. Patent & Trademark Office covering MANF’s discovery and therapeutic applications, which complements the Company’s existing patent portfolio in Europe and global patent-pending portfolio.
The company is working on developing its strategic plan for MANF’s translational development in Parkinson’s disease and expects to update the marketplace with projected milestones and timelines in early 2012.
Shares of AMBS soared 11 cents or 57.89% to $0.30 with more than 139K shared added, compared to its average volume of 17K shares.
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