Panacea Biotec rose 9.70% to Rs 138.50 at 12:04 IST on BSE on reports the company received the US drug regulator's approval for a migraine drug.
Meanwhile, the BSE Sensex was up 136.42 points, or 0.50%, to 27,372.08.
On the BSE, so far 1.09 lakh shares were traded in the counter, compared with average daily volumes of 15,624 shares in the past one quarter. The stock had hit a high of Rs 143.60 and a low of Rs 134.20 so far during the day.
The stock hit a 52-week high of Rs 155 on 25 July 2016. The stock hit a 52-week low of Rs 83.90 on 12 February 2016. The stock had outperformed the market over the past 30 days till 17 January 2017, rising 4.17% compared with the 3.26% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 15.93% as against Sensex's 2.68% decline.
The small-cap company has equity capital of Rs 6.13 crore. Face value per share is Re 1.
According to reports, Panacea Biotec received the US Food and Drug Administration's (USFDA) approval for Rizatripan Bonzoate tablet, which is used in treating symptoms due to migraine.
Panacea Biotec reported net loss of Rs 11.84 crore in Q2 September 2016, lower than net loss of Rs 17 crore in Q2 September 2015. Net sales declined 18.3% to Rs 131.56 crore in Q2 September 2016 over Q2 September 2015.
Panacea Biotec is one of India's leading research based biotechnology companies with established research, manufacturing and marketing capabilities.
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