Spotlight Innovation, Inc. (OTCQB: STLT) is engaged in the acquisition and development of proprietary treatments for various cancers and infectious diseases. Shares of the cancer treatment company are staging an impressive rally of 38.20%, through early trading on Friday, November 4, 2016. Over the past three months, Spotlight Innovation, Inc. has seen average daily volume of 20,383 shares. However, nearly 213,000 shares or dollar volume of $261,990, has already exchanged hands through early trading Friday.

Shares of Spotlight Innovation, Inc. are rallying Friday, after the company announced that it has been awarded another patent by the U.S. Patent and Trademark Office. The patent has to do with treatments derived from rattlesnake venom for its drug Crotoxin. Crotoxin is said to be a cancer treatment drug. Here is the full press release detailing of the new patent award:

Spotlight Innovation, Inc. Press Release:

WEST DES MOINES, Iowa, Nov. 4, 2016 /PRNewswire/ — Spotlight Innovation, Inc. (STLT) today announced that the United States Patent and Trademark Office issued to the Company’s subsidiary Celtic Biotech Iowa U.S. Patent No. 9,345,751, entitled “Crotalus Durissus Terrificus Venom Administration for Cancer Treatment.” The patented invention relates to compositions isolated from rattlesnake venom (“Crotoxin”) and methods for intravenous administration of Crotoxin to cancer patients.

Commenting on the significance of this patent issuance, Cristopher Grunewald, Spotlight Innovation’s President and Chief Executive Officer, said, “A key component of Spotlight Innovation’s product development strategy is to establish a strong intellectual property portfolio to support our pipeline of therapeutic product candidates.”

About Spotlight Innovation, Inc.

Spotlight Innovation Inc. (STLT) identifies and acquires rights to innovative, proprietary technologies designed to address unmet medical needs, with an emphasis on rare, emerging and neglected diseases. To find and evaluate unique opportunities, we leverage our extensive relationships with leading scientists, academic institutions and other sources. We provide value-added development capability to accelerate development progress. When scientifically significant benchmarks have been achieved, we will endeavor to partner with proven market leaders via sale, out-license or strategic alliance. For more information, visit www.spotlightinnovation.com or follow us on www.twitter.com/spotlightinno.

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