The stock of Suven Life Sciences Ltd has gained 6.55 per cent on the Bombay Stock Exchange and is trading at ₹84.55 by noon.
The Hyderabad-based company had announced on Tuesday that it will initiate global Phase 3 clinical trials of its candidate NCE SUVN-502 (Masupirdine), a potent, selective, brain penetrant and orally active, novel chemical entity from the middle of September.
It is intended for the treatment of agitation and aggression in Alzheimer’s type dementia with expected enrollment of patients from the middle of September 2021.
The multi-centre study (sites in the US and Europe) comprising about 387 patients is likely to be completed in about 36 months and the topline result expected by the end of year 2024.
“Progression of SUVN-502 (Masupirdine) into Phase 3 clinical development is a significant achievement and milestone in enhancing our clinical pipeline. Our lead molecules address niche areas of cognitive impairment associated with neurodegenerative disorders’’, said Venkat Jasti, CEO of Suven Life Sciences.