Stock Alert: Enlivex Therapeutics Tanks 22%

(RTTNews) - Shares of Enlivex Therapeutics Ltd. (ENLV) tanked over 22% on Monday morning despite no stock-related news.

ENLV is currently trading at $8.86, down $2.64 or 22.96%, on the Nasdaq.

Enlivex Therapeutics, a clinical stage immunotherapy company, engages in developing allogeneic drugs for immune system rebalancing.

Last week, the company announced that the U.S. Patent and Trademark Office issued a notice of allowance for a new patent application covering methods of using Allocetra, the company's immunotherapy product candidate.

The new patent will provide added intellectual property protection for methods of treating autoimmune and inflammatory diseases comprising gout, inflammatory bowel disease, Crohn's disease, and ulcerative colitis.

The company expects that this new patent will be issued in the United States in the coming months.