Suven Life Sciences jumps after securing product patents

Suven Life Sciences surged 5.95% to Rs 220 at 10:58 IST on BSE after the company said it has secured a total of four product patents one each in Australia & Hong Kong and two product patents from Japan.

The announcement was made during market hours today, 20 January 2015.

Meanwhile, the S&P BSE Sensex was up 158.88 points or 0.56% at 28,420.89.

On BSE, so far 2.50 lakh shares were traded in the counter as against average daily volume of 1.77 lakh shares in the past one quarter.

The stock hit a high of Rs 225.70 and a low of Rs 209.50 so far during the day. The stock had hit a record high of Rs 236.50 on 3 November 2014. The stock had hit a 52-week low of Rs 67.50 on 27 January 2014.

The stock had underperformed the market over the past one month till 19 January 2015, declining 2.33% compared with Sensex's 3.25% rise. The scrip had, however, outperformed the market in past one quarter, advancing 14.5% as against Sensex's 8.25% rise.

The small-cap biopharmaceutical company has equity capital of Rs 12.73 crore. Face value per share is Re 1.

Suven Life Sciences said it has secured a total of four product patents one each in Australia & Hong Kong and two product patents from Japan corresponding to the new chemical entity (NCE) for the treatment of disorders associated with Neurodegenerative diseases and these patents are valid through 2030.

Venkat Jasti, CEO of Suven said, "We are very pleased by the grant of these patents to Suven for our pipeline of molecules in CNS arena that are being developed for major depressive disorder with high unmet medical need with huge market potential globally".

Suven Life Sciences is a biopharmaceutical company focused on discovering, developing and commercializing novel pharmaceutical products, which are first in class or best in class CNS therapies through the use of GPCR targets.

Powered by Capital Market - Live News