Suven Life Sciences advanced 3.62% to Rs 198.35 at 11:32 IST on BSE after the company announced that it has secured product patents in Hong Kong, India and USA.
The announcement was made during market hours today, 16 November 2017.Meanwhile, the S&P BSE Sensex was up 245.05 points or 0.75% at 33,005.49. The S&P BSE Small-Cap index advanced 112.24 points or 0.65% at 17,385.64.
On the BSE, 1.12 lakh shares were traded on the counter so far as against the average daily volumes of 95,637 shares in the past one quarter. The stock had hit a high of Rs 200.70 and a low of Rs 188.85 so far during the day. The stock had hit a 52-week high of Rs 230 on 17 October 2017 and a 52-week low of Rs 155 on 11 August 2017.
The stock had underperformed the market over the past one month till 15 November 2017, sliding 13.86% compared with the Sensex's 1.01% rise. The scrip, however, outperformed the market over the past one quarter, gaining 16.45% as against the Sensex's 4.17% rise. The scrip had also underperformed the market over the past one year, rising 11.35% as against the Sensex's 16.49% 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 the grant of one product patent from Hong Kong, two product patents from India and one product patent from USA corresponding to the New Chemical Entities (NCEs) for the treatment of disorders associated with Neurodegenerative diseases and these Patents are valid through 2032, 2030 and 2034 respectively.
The granted claims of the patents include the class of selective H3 and 5-HT6 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 rose 19.54% to Rs 31.75 crore on 9.91% fall in net sales to Rs 104.10 crore in Q2 September 2017 over Q2 September 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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