Suven Life extends gains by 12% on US patent
Shares of Suven Life Science extended gains on Friday by nearly 12 per cent to Rs 62.15, with volume traded at 49,83,531.
By INDIATIMES NEWS NETWORK |
MUMBAI: Shares of Suven Life Science extended gains on Friday by nearly 12 per cent to Rs 62.15, with volume traded at 49,83,531. The stock had closed 19 per cent higher after the company said it had received its first product patent in the US.
The US Patent Office has granted product patent for selective serotonin receptor affinity compounds discovered by Suven and developed as therapeutic agents. The compounds are useful in the treatment of neuro-degenarative disorders like Alzheimer's Parkinson, Schizophrenia and Huntington's.
But the stock’s rise ahead of a product launch appears premature, as the patent only covers drug candidates currently developed for Central Nervous System disorders, says The Hindu Business Line
The company may not have the financial wherewithal to take a new drug from the lab to market and hence out-licensing may be the only viable way to translate such patents into actual revenues, the report says.
The 52-high for the stock is Rs 182.95, touched on Jan 31 this year, and the low Rs 28, hit on Oct 19, 2007.
The US Patent Office has granted product patent for selective serotonin receptor affinity compounds discovered by Suven and developed as therapeutic agents. The compounds are useful in the treatment of neuro-degenarative disorders like Alzheimer's Parkinson, Schizophrenia and Huntington's.
But the stock’s rise ahead of a product launch appears premature, as the patent only covers drug candidates currently developed for Central Nervous System disorders, says The Hindu Business Line
The company may not have the financial wherewithal to take a new drug from the lab to market and hence out-licensing may be the only viable way to translate such patents into actual revenues, the report says.
The 52-high for the stock is Rs 182.95, touched on Jan 31 this year, and the low Rs 28, hit on Oct 19, 2007.
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