Suven Life Sciences rose 1.66% to Rs 49.10 after the pharma company reported a net loss of Rs 15.65 crore in Q2 September 2020, lower than net loss of Rs 19.81 crore in Q2 September 2019.
Consolidated net sales surged 550% to Rs 8.97 crore in Q2 September 2020 as against Rs 1.38 crore in Q2 September 2019. Pre-tax loss stood at Rs 16.65 crore in Q2 September 2020 as against pre-tax loss of Rs 20.22 crore in Q2 September 2019. The Q2 result was declared during trading hours today, 27 October 2020.
R&D and operational expenses jumped 18.29% to Rs 26.57 crore in Q2 FY21 over Q2 FY20. The company has been granted 18 patents for its innovative drug discovery covering Australia, Brazil, Canada, Europe, Eurasia, India, Israel, Japan, Mexico and Sri Lanka.
Suven Life Sciences is engaged in drug discovery and development of New Chemical Entities (NCEs) in Central Nervous System (CNS) disorders targeting unmet medical needs, globally.
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