 "SPARC falls 15% as phase III study of Baclofen GRS fails to meet end points")
Sun Pharma Advanced Research (SPARC) has dipped 15% to Rs 332 on BSE in early morning trade after the company said its two pivotal phase III studies of Baclofen GRS for treatment of spasticity in patients with multiple sclerosis did not meet the primary end point in placebo controlled studies.
Baclofen GRS is a novel, once-a-day formulation developed by the company's proprietary gastroretentive system (GRS) technology, SPARC said in a filing to BSE on Friday after market hours.
“We are disappointed with the outcomes of these studies and will evaluate the data in greater detail to decide on our next steps. We thank all the patients, investigators and caregivers whose hard work has contributed important information to the Baclofen GRS program”, stated Anil Raghavan, CEO, SPARC.
At 09:28 am, the stock was down 10% at Rs 350 on BSE, as compared to 0.08% rise in the S&P BSE Sensex. The trading volumes on the counter more than doubled with a combined 1.8 million shares changed hands on the BSE and NSE so far.
So far in the calendar year 2017, the stock had outperformed the market by surging 30% against 2% rise in the Sensex till Friday.
Baclofen GRS is a novel, once-a-day formulation developed by the company's proprietary gastroretentive system (GRS) technology, SPARC said in a filing to BSE on Friday after market hours.
“We are disappointed with the outcomes of these studies and will evaluate the data in greater detail to decide on our next steps. We thank all the patients, investigators and caregivers whose hard work has contributed important information to the Baclofen GRS program”, stated Anil Raghavan, CEO, SPARC.
At 09:28 am, the stock was down 10% at Rs 350 on BSE, as compared to 0.08% rise in the S&P BSE Sensex. The trading volumes on the counter more than doubled with a combined 1.8 million shares changed hands on the BSE and NSE so far.
So far in the calendar year 2017, the stock had outperformed the market by surging 30% against 2% rise in the Sensex till Friday.
One subscription. Two world-class reads.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%