Benzinga | Jul 31, 2020 12:05PM EDT

Why Tiziana Life Sciences' Stock Is Trading Higher Today

Tiziana Life Sciences (NASDAQ:TLSA) shares are trading higher on Friday after news emerged the company has submitted a patent application covering the potential use of a nasally-administered and orally taken Foralumab for the treatment of COVID-19.

Tiziana Life Sciences is involved in the business of developing novel therapeutics for cancer with a focus on late-stage growth and complementary diagnostic tools, with the capability of predicting disease aggressiveness and prognosis in breast cancer patients. The group also has interests, beyond pure oncology, in the discovery and development of monoclonal antibody-based biologics used to benefit patients with inflammatory and auto-immune disorders.

The company has a single reporting segment, The Research, and Development of Biotechnological and Pharmaceutical Products. Its lead compound, milciclib (TZLS-201), is a molecule which blocks the action of specific enzymes involved in cell division as well as a number of other protein kinases.

Tiziana Life Sciences stock was trading up 62.09% to $8.02 per share at time of publication on Friday. The stock has a 52-week high of $12.17 and a 52-week low of 62 cents.