Patlex's stock soared Monday on heavy trading after last week's announcement that it scored a partial victory in its court battle to establish patents for laser technology.
Shares of the Chatsworth-based laser company closed at $16, up $4.50, on a trading volume of 182,900 shares, equivalent to about 4% of Patlex's outstanding stock.
The company announced Friday afternoon that the U. S. Board of Patent Appeals and Interferences upheld Patlex's right to a patent for an optically pumped laser, a key variety of laser that Patlex said accounts for 30 to 50% of the U. S. laser market.
But Patlex said the board rejected Patlex's bid for a separate patent on a method for cutting and welding with lasers. The company said it would appeal.