The clinical development program being executed through Suven, Inc., a Delaware Company in USA, wholly owned subsidiary of Suven Life Sciences.
This trial is designed to evaluate the safety, tolerability, pharmacokinetics and efficacy of SUVN-502 for the treatment of moderate Alzheimer’s Disease (AD).
This trial is expected to enroll 537 patients and the primary objective of the study is to evaluate the efficacy of a serotonin receptor subtype 6 (5-HT6) antagonist, SUVN-502, at daily doses of 50 mg or 100 mg compared to placebo, as adjunct treatment in subjects with moderate Alzheimer’s disease (Mini-Mental State Examination [MMSE] score of 12 to 20) currently treated with the acetylcholinesterase inhibitor, Donepezil Hydrochloride (HCl) and the N-methyl-D-aspartic acid (NMDA) antagonist, MemantineHCl. Efficacy will be assessed by the 11-item Alzheimer’s Disease Assessment Scale for Cognitive Behavior (ADAScog-11) after 26 weeks of treatment. The trial is likely to complete by end of second quarter 2017, subject to the achievement of estimated 12 months’enrollment goal in USA.
Suven Life Sciences Ltd is currently trading at Rs. 268.65, up by Rs. 7.8 or 2.99% from its previous closing of Rs. 260.85 on the BSE.
The scrip opened at Rs. 262 and has touched a high and low of Rs. 270.1 and Rs. 260 respectively. So far 115430(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 3320.16 crore.
The BSE group 'B' stock of face value Rs. 1 has touched a 52 week high of Rs. 338.5 on 15-Apr-2015 and a 52 week low of Rs. 192.15 on 08-Sep-2015. Last one week high and low of the scrip stood at Rs. 273.25 and Rs. 259.5 respectively.
The promoters holding in the company stood at 59.57 % while Institutions and Non-Institutions held 7.2 % and 33.23 % respectively.
The stock is currently trading above its 50 DMA.
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