Sun Pharma Advanced Research Company (SPARC) announced positive top-line results from pivotal phase 3 clinical trial of PDP-716 for the treatment of ocular hypertension.
SPARC reported positive top-line results from its Phase 3 trial (CLR 16 33) for its investigational drug, PDP-716 ophthalmic suspension, for the treatment of open angle glaucoma or ocular hypertension.
PDP-716 is a novel, once daily, ophthalmic suspension of Brimonidine Tartrate 0.35%. PDP-716 is developed using SPARC s proprietary TearAct technology.
The trial met its pre-specified primary endpoint, demonstrating that PDP-716 dosed once daily is equivalent to Alphagan P 0.1% dosed 3 times a day. We are very pleased by these results for PDP-716. Once daily dosing of PDP-716 can significantly reduce the dosing frequency compared to currently marketed formulation and can have positive impact on quality of life for patients with Glaucoma. said Anil Raghavan, CEO of SPARC.
Sun Pharma Advanced Research Company Limited to issue 6,74,70,203 warrants equitybulls.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from equitybulls.com Daily Mail and Mail on Sunday newspapers.
SPARC to raise ₹1,201 cr from promoter, 34 others
May 12, 2021
The board of director of Sun Pharma Advanced Research Company Ltd on Wednesday approved a proposal to raise up to ₹1,200.97 crore to Dilip Shantilal Shanghvi, Promoter of the company and to 34 other non-promoter group persons, including Rekha Jhunjhunwala, Authum Investment, University of Notre Dame DU Lac, Cohesion Investment (Cayman), Ashish Maheshwari and Abakkus Growth Fund, by way of preferential issue.
The board has approved to issue up to 6.75 crore warrants each convertible into, or exchangeable for, one equity share within the period of 18 months at ₹178 each.
Shares of SPARC jumped 6.14 per cent at ₹239.55 on the BSE.