ALSO READSuven Life Sciences gains after securing four product patents Suven Life Sciences gains after securing 3 product patents Suven Life Sciences gains after securing three product patents Suven Life gains after securing product patents in Israel and Mexico Suven Life Sciences jumps after strong Q1 earnings
Meanwhile, the BSE Sensex was up 208.06 points, or 0.76%, to 27,738.03.
On BSE, so far 40,000 shares were traded in the counter, compared with average daily volume of 76,255 shares in the past one quarter. The stock hit a high of Rs 204.30 and a low of Rs 195 so far during the day. The stock hit a 52-week high of Rs 293.95 on 23 October 2015. The stock hit a 52-week low of Rs 144.35 on 19 February 2016.
The stock had outperformed the market over the past 30 days till 17 October 2016, rising 2.29% compared with 3.74% decline in the Sensex. The scrip had, however, underperformed the market in past one quarter, falling 2.17% as against Sensex's 0.93% decline.
The small-cap company has equity capital of Rs 12.73 crore. Face value per share is Re 1.
Suven Life Sciences (Suven) announced that the grant of one (1) product patent from Europe and one (1) product patent from Israel corresponding to the New Chemical Entities (NCEs) for the treatment of disorders associated with Neurodegenerative diseases and these Patents are valid through 2030 and 2029 respectively.
The granted claims of the patents are from the mechanism of action include the class of selective Alpha4Beta2 and H3 Inverse agonist compounds and are being developed as therapeutic agents and are useful in the treatment of cognitive impairment associated with neurodegenerative disorders like Alzheimer's disease, Attention deficient hyperactivity disorder (ADHD), Huntington's disease, Major Depressive disorder (MDD), Parkinson and Schizophrenia, the company said in a statement.
With these new patents, Suven has a total of twenty three (23) granted patents from Europe and twelve (12) granted patents from Israel. These granted patents are exclusive intellectual property of Suven and are achieved through the internal discovery research efforts. Products out of these inventions may be out-licensed at various phases of clinical development like at Phase-I or Phase-II, the company said.
Suven Life Sciences' net profit rose 58.2% to Rs 32.58 crore on 31.7% rise in net sales to Rs 133.23 crore in Q1 June 2016 over Q1 June 2015.
Suven Life Sciences is a biopharmaceutical company specializing in drug discovery and developmental activities in central nervous system disorders and contract research and manufacturing services (CRAMS).
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