SPARC shares drop nearly 20% after key drug trial fails
Shares of Sun Pharma Advanced Research Company (SPARC) declined sharply by nearly 20% after the company announced the discontinuation of clinical trials for its experimental drug Vibozilimod (SCD-044). The drop came following an update from Sun Pharmaceutical Industries Limited, SPARC's collaborator, which revealed that the Phase 2 trials for Vibozilimod failed to meet their primary efficacy endpoints.
The drug, which was being tested for treating moderate-to-severe psoriasis and atopic dermatitis, did not show the required 75% improvement in PASI and EASI scores by Week 16. As a result, no further trials will be conducted, marking a significant setback for both companies' specialty drug pipelines.
Shares of Sun Pharma Advanced Research Company (SPARC) opened at ₹185.00 and touched an intraday low of ₹156.14, reflecting a sharp decline. The stock did not move above its opening price, indicating bearish sentiment. SPARC is currently trading closer to its 52-week low of ₹109.30, far below the 52-week high of ₹258.00. As of 11:34 AM, the shares were trading 17.95% lower at Rs 160.15.
Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information.
Aman Shukla is a post-graduate in mass communication . A media enthusiast who has a strong hold on communication ,content writing and copy writing. Aman is currently working as journalist at BusinessUpturn.com
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