Shares of Suven Life Sciences today ended 4 per cent higher, following which the market capitalisation of the company improved by Rs 94 crore after announcement of receiving patents from Hong Kong, India, the US on neurological molecule.
Shares of the company today opened on a bullish note and surged 5.21 per cent during the day to touch an intra-day high of Rs 200.70 on BSE. At the end of today's trading, the stock was quoted at Rs 198.15, up 3.88 per cent over its previous closing price on BSE.
Following the uptick in the stock, market capitalisation of the company surged by Rs 94 crore to Rs 2,522.10 crore.
On the NSE also, the stock followed similar momentum and jumped 5.29 per cent to an intra-day high of Rs 200.95. It closed for the day at Rs 198.65, up 4.09 per cent on the NSE.
Suven Life Sciences today said it has been granted a patent each from Hong Kong and the US and two from India for treatment of disorders associated with neurodegenerative diseases.
The patents are valid till 2032, 2030 and 2034, respectively, the company said in a BSE filing.
"We are very pleased by the grant of these patents to Suven for our pipeline of molecules in the CNS (central nervous system) arena, which are being developed for cognitive disorders with high unmet medical need with a huge market potential globally," Suven Life CEO Venkat Jasti said.
The granted claims of the patents are being developed as therapeutic agents and are useful in the treatment of cognitive impairment associated with neurodegenerative disorders like Alzheimer's, attention deficit hyperactivity disorder (ADHD), Huntington's disease, Parkinson's and Schizophrenia.
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