Suven Life Sciences gained 1.93% to Rs 211.55 at 11:40 IST on BSE after the company said that it has secured four product patents for its New Chemical Entities in Australia, Eurasia, Israel and USA.
The announcement was made during market hours today, 23 May 2016.Meanwhile, the S&P BSE Sensex was up 36 points or 0.14% at 25,337.90.
On BSE, so far 47,633 shares were traded in the counter as against average daily volume of 97,199 shares in the past one quarter. The stock hit a high of Rs 214.60 and a low of Rs 202.90 so far during the day. The stock had hit a record high of Rs 319.45 on 22 May 2015. The stock had hit a 52-week low of Rs 144.35 on 19 February 2016. The stock had outperformed the market over the past one month till 20 May 2016, falling 1.94% compared with the Sensex's 2.1% fall. The scrip had also outperformed the market in past one quarter, jumping 41.82% as against Sensex's 6.72% gains.
The mid-cap company has equity capital of Rs 12.73 crore. Face value per share is Rs 1.
Suven Life Sciences announced that it secured product patents in Australia, Eurasia, Israel and USA to their New Chemical Entities (NCE's) for CNS therapy through mechanism of action-H3 Inverse agonist and these patents are valid until 2032, 2030, 2031 and 2032 respectively. Suven said that the granted claims of the patents include the class of selective H3 ligands discovered by Suven and are being developed as therapeutic agents and are useful in the treatment of cognitive impairment associated with neurodegenerative disorders.
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With these new patents, Suven has a total of 24 granted patents from Australia, 17 granted patents from Eurasia, Nine granted patents from Israel and twenty four granted patents from USA. 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.
Suven Life Sciences' net profit fell 45% to Rs 17.72 crore on 12.7% decline in net sales to Rs 112.50 crore in Q3 December 2015 over Q3 December 2014.
Suven Life Sciences is a clinical stage biopharmaceutical company developing novel medicines to treat life-threatening Central Nervous System (CNS) disorders.
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