Shares of Suven Life Sciences are higher by more than 11% after the company on January 8 shared progress about the Phase-1 clinical trial for a drug used in cognitive disorders.
Suven informed that the first subjects have been dosed in a Phase-1 clinical trial of SUVN-I6107 in America, as part of a trial. "...the first subjects have been dosed in a Phase-1 clinical trial of SUVN-I6107 being conducted in USA under FDA acceptance of Investigational New Drug (IND) and issue of Study May Proceed letter," said the statement in a company filing.
The primary objective of the study is to assess the safety and tolerability of SUVN-I6107, and monitor adverse events.
The past month has seen the share prices of Suven Life Sciences fall by 7.15 percent, as compared to a 4.83 percent decline in the Sensex.
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SUVN-I6107 - a novel True Muscarinic M1 Positive Allosteric Modulator (M1 PAM) - represents the fifth, internally discovered compound from Suven to enter clinical trials.
In the month of September 2024, the company had announced strong results from its Phase-2a trials, aimed at assessing the safety and efficacy of Ropanicant, a drug developed to treat acute depression.
Suven Life Sciences reported a net loss of Rs. 49.64 crore during the September quarter, significantly higher from Rs. 12.68 crore loss reported in the same period a year ago. EBITDA for the quarter stood at a negative Rs. 48.17 crore, a substantial decrease from the negative Rs. 18.36 crore reported a year ago.
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