Suven Life Sciences gained 1.51% to Rs 224.80 at 11:07 IST on BSE after the company announced that it secured a product patent in Singapore.
The announcement was made during market hours today, 18 October 2017.Meanwhile, the S&P BSE Sensex was down 105.91 points or 0.32% at 32,503.25. The S&P BSE Small-Cap index advanced 11.68 points or 0.07% at 17,077.83, outperforming the Sensex.
High volumes were witnessed on the counter. On the BSE, 1.71 lakh shares were traded on the counter so far as against the average daily volumes of 79,728 shares in the past one quarter. The stock had hit a high of Rs 228.70 and a low of Rs 216.15 so far during the day. The stock had hit a 52-week high of Rs 230 yesterday, 17 October 2017 and a 52-week low of Rs 151.10 on 9 November 2016.
The stock has gained 13.82% in three sessions to its ruling price, from a close of Rs 197.50 on 13 October 2017.
The stock had outperformed the market over the past one month till 17 October 2017, gaining 24.24% compared with 1.04% gains in the Sensex. The scrip had also outperformed the market in past one quarter, rising 28.04% as against Sensex's 1.67% rise. The scrip had, however, underperformed the market in past one year, gaining 14.06% as against Sensex's 18.45% rise.
The small-cap company has equity capital of Rs 12.73 crore. Face value per share is Re 1.
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Suven Life Sciences announced grant of one product patent from Singapore corresponding to the new chemical entities (NCEs) for the treatment of disorders associated with neurodegenerative diseases and these patents are valid through 2033.
The granted claims of the patents include the class of selective 5-HT4 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, Parkinson and Schizophrenia.
Net profit of Suven Life Sciences fell 9.2% to Rs 29.57 crore on 3.2% rise in net sales to Rs 137.45 crore in Q1 June 2017 over Q1 June 2016.
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 central nervous system (CNS) therapies using G-protein coupled receptors (GPCRs) targets.
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