The company made this announcement during trading hours today, 30 November 2009.
Meanwhile, the BSE Sensex was up 304.70 points, or 1.80%, to 16,936.71.
On BSE, 49,093 shares were traded in the counter as against an average daily volume of 1.01 lakh shares in the past one quarter.
The stock hit a high of Rs 25.85 and a low of Rs 24.50 so far during the day. The stock had hits a 52-week high of Rs 37.40 on 27 August 2009 and a 52-week low of Rs 9.40 on 16 March 2009.
The small-cap stock had underperformed the market over the past one month till 27 November 2009, falling 8.53% as compared to the Sensex's 1.70% rise. It had also underperformed the market in the past one quarter, declining 29.37% as compared to the Sensex's return of 5.39%.
The company's equity capital is Rs 11.59 crore. Face value per share is Rs 1.
The current price of Rs 25.85 discounts the company's Q2 September 2009 annualized EPS of Rs 0.87, by a PE multiple of 29.71.
The three patents EP1537113, EP1704154 and EP1856132, are valid until 2022, 2023 and 2024 respectively.
Suven Life Sciences had on 14 October 2009 secured product patents for SUVN-502, which is in development stage, in several countries including India, Mexico, South Africa, Singapore, New Zealand, Korea, Eurasia, Australia and Europe. The patent in all these countries is valid till June 2023.
In April 2009, Suven Life Sciences completed its phase I trials for SUVN-502. It is a lead compound intended for the symptomatic treatment of Alzheimer's disease and other disorders of memory and cognition like attention deficient hyperactivity, Parkinson, Schizophrenia.
The company is planning to initiate the clinical Phase-II proof of concept studies during 2010. The company may launch SUVN-502 in later 2013 or in early 2014.
Early September 2009, Suven Life Sciences received its first milestone payment from Eli Lilly and Company, US, with their drug discovery collaboration achieving a positive outcome.
Suven Life Sciences' net profit declined 47.8% to Rs 2.52 crore on 12.3% fall in net sales to Rs 33.19 crore in Q2 September 2009 over Q2 September 2008.
Suven Life Sciences is engaged in design, manufacture and the supply of bulk active, drug intermediates and fine chemicals to the life science industry. The company mainly operates in the USA, Europe, Asia and India.