Shares of Sun Pharma Advanced Research (SPARC) are higher by more than 13% on December 16, after the management said it plans to share an 'update' on its clinical programs as well as the R&D pipeline on Thursday.
"Sun Pharma Advanced Research Company (SPARC) on Thursday, December 19, 2024, will host a Management Presentation over an audio conference to share and provide an update on its clinical programs and R&D pipeline. This conference call, scheduled at 4:00 PM IST, will be reachable through an audio dial-in," said the press statement issued over the weekend.
SPARC has a market capitalisation close to Rs 7,600 crore and the shares are down by 23% so far this year. On charts, the share has given a strong breakout rising above the 10 and 20 EMA. Shares of Sun Pharma too are off lows but trading muted in the session.
SPARC has been focused on the execution of its ongoing clinical trials. In April, the pharma R&D company had to close the Proseek study, involving investigational drug Vodobatinib - one of SPARC’s flagship neurological cure asset - for its potential in treating Parkinson’s, Lewy Body Dementia and Alzheimer’s.
In July, SPARC said the Proseek study for Vodobatinib, and Phase I study of SCD-153 had progressed as planned, and the development of pre-clinical programs showed the assets were getting ready for clinical evaluation in the coming months and years, Its SBO-154 drug has being announced to enter clinical evaluation next year.
SPARC said pharma majors will 'continue to face patent cliffs and gaps in their pipelines in the latter half of this decade'. The companies will consider M&A opportunities to achieve their growth plans. During 2023, the R&D M&A space saw a significant growth in value at $160 billion, a 84% rise compared to 2022. Oncology made up for 55% of the total deal value in the pharma and biotech sector, SPARC said in July.
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