Why JanOne Shares Are Skyrocketing Today

JanOne Inc JAN shares are trading higher by 42.40% at $3.56 after the company announced that a patent was issued that covers a method of improving nerve function using JAN101.

JAN101 (formerly known as TV1001SR), is a potential treatment for peripheral artery disease (PAD), a vascular disease that affects more than 8.5 million people in the U.S. and more than 60 million people worldwide.

"This patent further protects JanOne Inc.'s product for use in treating PAD by extending the use of JAN101 to treat the nerve damage caused by microvascular disease," said Dr. Tony Giordano, JanOne Inc.'s Chief Scientific Officer.

"Microvascular disease is a major problem for PAD patients: it leads to restricted blood flow in the affected limb, which in turn leads to nerve damage and severe pain. Recent studies have in fact suggested that PAD is a microvascular disease, so the observation that JAN101 improves microvascular and nerve function is crucial in treating this disease," Giordano added.

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JanOne focuses on reducing opioid addiction by finding treatments for conditions accompanied by pain and bringing to market drugs and therapies with nonaddictive pain-relieving properties.

According to data from Benzinga Pro, JanOne has a 52-week high of $12.28 and a 52-week low of $1.89.