Germantown, Md-based Neuralstem, Inc (Nasdaq: CUR) shares rose more 7 percent Thursday, opening at $1.75 a share and closing at $1.93 share.
The spike in the stock price was related to news that the company won a ruling in its favor for a patent infringement case.
Neuralstem was the defendant in the case filed against it by Palo Alto, Calif-based StemCells, Inc. The case was dismissed by the U.S. Federal District Court for the District of Maryland.
The ruling by the judge was based on and complicated by ownership matters of six patents, where a third-party involved in the ownership of the patents led to StemCells case being dismissed for lack of standing.
Despite the news, Neuralstem, Inc (Nasdaq: CUR) shares are down over 6 percent, giving away most of the gains in yesterday’s rally.