The shares of this clinical-stage biopharmaceutical company engaged in creating new drugs and delivery systems gained 7.5 percent to Rs 247.15 a share after the company entered into a license agreement for the treatment of Alopecia Areata in autoimmune disease.
At 12:53 p.m., Sun Pharma Advanced Research Company Ltd shares were trading at Rs 241.30 a share on the National Stock Exchange, up Rs 11.90 or 5.12 percent. The company has a market capitalization of Rs 7,806 crores.
Sun Pharma Advanced Research Company announced an agreement with Johns Hopkins University (JHU) and The Institute of Organic Chemistry and Biochemistry of the Czech Academy of Sciences (IOCB) (Licensors) to exclusively license SCD-153, which includes all patents and patent applications owned or controlled by the licensors. According to the exchange filing.
The company has entered into an Option to Licence Agreement with the licensors. Upon successful development of SCD-153 can provide an important option to clinicians and patients for the treatment of Alopecia Areata in autoimmune disease.
The company shares have gained a return of 23 percent in six months and 15 on a year-to-date basis.
The company’s revenue has decreased by 18 percent yearly, from Rs 28 crore in Q1FY23 to Rs 23 crore in Q1FY24. Further, within the same period, Net losses have increased from Rs 82 crore to Rs 95 crore.
According to the recent shareholding pattern, the company promoters hold a 65.67 percent stake in the company, while Foreign Institutional Investors hold a 3.67 percent stake. And retail investors have a 29.85 percent stake in the company.
Sun Pharma Advanced Research Company Ltd was formed in 2007 through a demerger from Sun Pharma, which is engaged in the business of research and development (R&D) of pharmaceutical products.
Written by Omkar Chitnis
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