2 US Patent Approvals Driving Stocks Higher on Thursday

By Chris Lange Updated Jan 12, 2:45PM EST · Published Feb 16, 1:15PM EST

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2 US Patent Approvals Driving Stocks Higher on Thursday — © Thinkstock

[cnxvideo id=”625489″ placement=”ros”]A couple of companies made serious gains on Thursday after each reported a key patent approval by the U.S. Patent and Trademark Office (USPTO). Each company is reporting a gain of at least 15%. With this sentiment from investors, it seems that these gains could keep coming as each business further develops.

Superconductor Technologies Inc. (NASDAQ: SCON) was awarded a U.S. patent (No. 9,564,258), in relation to its superconducting wire manufacturing method. Essentially, this now-patented process will improve Conductus wire’s performance in the presence of a strong magnetic field.

This new patent will protect the foundation that STI uses to build high performance wire. The flexibility provided by this proprietary manufacturing process also enables STI to build superconducting wire in very unique ways.

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The ability to carry high electrical current in the presence of a strong magnetic field is a key enabler for the superconducting applications of the future. Using a technique called pinning, superconducting wire performance is dramatically improved. The traditional approach is to add more elements when manufacturing the superconducting layer, thereby increasing the complexity of an already challenging process.

Shares of STI were last seen up 34% at $1.54, with a consensus analyst price target of $0.30 and a 52-week trading range of $1.04 to $4.80.

Akers Biosciences Inc. (NASDAQ: AKER) reported that the USPTO has allowed a patent covering its proprietary cartridge for the optical scanning device utilized in the company’s BreathScan Lync technology. BreathScan Lync is the new Bluetooth-enabled reading device from Akers Wellness that enables users to track the results of Akers Wellness breath-based tests via their mobile device.

The patent covers the unique design of the disposable cartridge, which contains the reagent for the detection of wellness markers. The reagent contained within is analyzed using optical scanning technology after contact with the user’s exhaled breath sample and produces a quantitative result through the Akers Wellness app on the user’s smartphone or tablet. Included in the patent are the unique form factor, optical lens and read elements and the unique U-shaped airflow pathway.

Akers shares were trading up nearly 17% at $1.40, with a consensus analyst price target of $11.00 and a 52-week trading range of $1.15 to $3.70.

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About the Author Chris Lange →

Chris Lange is a writer for 24/7 Wall St., based in Houston. He has covered financial markets over the past decade with an emphasis on healthcare, tech, and IPOs. During this time, he has published thousands of articles with insightful analysis across these complex fields. Currently, Lange's focus is on military and geopolitical topics.

Lange's work has been quoted or mentioned in Forbes, The New York Times, Business Insider, USA Today, MSN, Yahoo, The Verge, Vice, The Intelligencer, Quartz, Nasdaq, The Motley Fool, Fox Business, International Business Times, The Street, Seeking Alpha, Barron’s, Benzinga, and many other major publications.

A graduate of Southwestern University in Georgetown, Texas, Lange majored in business with a particular focus on investments. He has previous experience in the banking industry and startups.