Shares of Dishman Pharmaceuticals jumped as much as 20 per cent to hit all-time high as the company has got FDA nod for cancer drug.
The company's partner Tesaro Inc has got U. Food and Drug Administration (FDA) nod for ovarian cancer drug Niraparib.
Niraparib kills cancer cells by inhibiting the production of proteins called PARPs, which help repair damaged DNA strands.
Research firm Dolat Capital says this drug has the potential to become very large given it is the first PARP inhibitor available as of now.
"We expect revenues from this molecule to Dishman can be anywhere between $40-80 million,'' Dolat Capital says.
More than 2.2 million shares traded, over twice their 30-day moving average.
Dishman stock was up 7.3 per cent this year as of Monday's close.
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.