Suven Life Sciences jumped 5.43% to Rs 166.10 at 11:55 IST on BSE after the company announced that it has secured process patents in Europe, Japan and New Zealand.
The announcement was made during market hours today, 17 August 2017.Meanwhile, the S&P BSE Sensex was up 27.26 points or 0.09% to 31,771.95. The S&P BSE Small-Cap index was up 100.92 points, or 0.65% to 15,712.60.
On the BSE, 28,000 shares were traded in the counter so far, compared with average daily volumes of 34,826 shares in the past one quarter. The stock had hit a high of Rs 167.10 and a low of Rs 157.55 so far during the day. The stock hit a 52-week high of Rs 213.10 on 6 October 2016. The stock hit a 52-week low of Rs 151.10 on 9 November 2016.
The stock had underperformed the market over the past one month till 16 August 2017, falling 8.48% compared with the Sensex's 0.78% decline. The stock had also underperformed the market over the past one quarter, declining 16.57% as against the Sensex's 3.89% rise. The scrip had also underperformed the market over the past one year, dropping 20.83% as against the Sensex's 13.21% rise.
The small-cap company has equity capital of Rs 12.73 crore. Face value per share is Re 1.
Suven Life Sciences announced the grant of one process patent from Europe, one process patent from Japan and one process patent from New Zealand corresponding to the new chemical entities (NCEs) which are for the treatment of disorders associated with neurodegenerative diseases and these patents are valid through 2034.
These process patents are for pipeline compounds which are in the class of selective 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 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 Science is a biopharmaceutical company focused on discovering, developing and commercializing novel pharmaceutical products, which are first in class or best in class CNS therapies using GPCR targets.
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