May 5, 2021 11:48 AM
Suven Life Sciences, a pharmaceutical research and development arm, reported revenue of Rs 2.88 crore and a net loss of Rs 21.69 crore for the fourth quarter of last fiscal, according to consolidated accounts. Revenue for the same quarter of 2019-20 was Rs 11.65 crore and net loss was Rs 25.74 crore.
Suven Life Sciences reported revenue of Rs 21.23 crore for the full financial year. It has a net loss of Rs 72.45 crore. This includes the financial results of Suven Life Sciences and its subsidiary Suven Neurosciences Inc.
Suven Life reports that DSMB (Data Safety Monitoring Board) in the United States has been provided with the results of the second phase of clinical trials on similisant (SUVN-G3031), a drug that controls daytime sleepiness (narcolepsy).
In addition, tests on the drug are expected to be completed by the end of next year. It has been revealed that the second phase of clinical trials on the drug Masupirdine (SUVN-502) will begin in August this year.
On a consolidated basis, the company reported a net loss of Rs 72.45 crore in the year ended 31 March 2021 compared with net loss of Rs 94.51 crore the year ended 31 March 2020. Total income fell 25.4% to Rs 21.23 crore in FY21 over FY20.
Suven Life Sciences, a biopharmaceutical company, engaged in drug discovery and development of new chemical entities (NCEs) in central nervous system (CNS) disorders targeting unmet medical needs, globally.