SPARC soars 8 per cent on the back of successful research data

The shares of Sun Pharma Advanced Research Company (SPARC) gained 8 per cent in Monday's morning session as the company announced the positive results of its pivotal bioequivalence study for a cancer drug.

The drug termed Paclitaxel Injection Concentrate for Suspension (PICS) is a Cremophor and Albumin-free formulation of Paclitaxel, which is produced using SPARC’s exclusive Nanotecton technology. The study did not produce any adverse events and was in-line with all the necessary pharmacokinetic endpoints for unbound as well as total paclitaxel.

The research involved a crossover study of PICS and Abraxane for locally recurrent metastatic breast cancer. The study provided information pertaining to the safety profile of PICS. The study is pivotal for the company as it validates its Nanotecton technology. It is expected to propel the company’s growth as it will create demand for nano-formulations.

On Monday, the shares of SPARC opened at Rs. 280.00 per share, and hit a high and low of Rs. 293.90 per share and Rs. 276.60 per share, respectively. At 11:22 am, the stock was trading at Rs. 278.65 per share, up 2.37 per cent.