Suven begins phase-2 trials for Alzheimer’s in US, See management interview here
Also, listening to last concall - Picked up something interesting.
About 6 months back, Suven created a subsidiary in US by funding it with USD $25mn. The objective of subsidiary is to take their in house molecules through advanced phases and work on out licensing opportunities.In the last call the mangement clarified that the whole USD $ 25 mn would be used for Suvn 502 their lead molecule and this $25 mn would be spent in next two FY (16 and 17)
Interesting bit is whatever they are spending in US out of this USD 25 mn, is currently not charged to PL as Suven is reporting standalone results.
What does that mean ?
When FY16 consolidated results are reported approximately USD $12.5 mn would come as charge in PL from US subsidiary, as management is expecting about USD $15 - 16 mn from standalone numbers there final net figure could go down to as low as USD $1 - 2 mn.
How will stock market react ? Only time will tell
PS - I could be completely wrong, if Suven’s capitalises this cost
Disc - I remain invested, About 5% of Current Portfolio no transaction in last 30 days