Suven Life has rough day

The day is rough for Suven Life Sciences. The stock opened with a loss of over 14%, going down to an intraday low of Rs.253.10, falling almost 20%, just an inch away from its LC of the day at Rs.251.85.

Friday, after market hours, the company announced that top-line results of SUVN-502 (Masupirdine) Phase 2A study in patients with moderate Alzheimer's Disease (AD) did not meet the pre-specified primary endpoint.

Mainly, triple therapy of Masupirdine (SUVN-502) with Donepezil and Memantine proof of concept phase 2 study is what missed its pre-specified primary endpoint.

The company is obviously disappointed and said that it will work with regulators and potential partnering companies in the design and conduct of future studies for further exploration of the potential of Masupirdine (SUVN-502).

This was a 30-week study, which included a 26-week double-blind treatment period followed by a 4-week single-blind placebo washout period. The masupirdine Phase 2A study was conducted at centers across the United States. A total of 77 investigators from 27 states contributed subjects.

Detailed study outcomes of the above findings will be presented through one oral and six poster presentations at Clinical Trials on Alzheimer's Disease (CTAD) being held at San Diego from 4 to 7 December 2019.