Lower circuit stock: Sun Pharma Advanced share price tanks 5% on ending Proseek study; here's what analyst says
₹431.10 apiece on BSE after it notified the exchanges that it had ended the Phase 2 study on Vodobatinib for Parkinson's. Rajesh Bhosale - Equity Technical and Derivative Analyst, Angel One, said that recently the stock has seen strong positive momentum, but today it has seen selling pressures with prices down 5% on the lower circuit.
Volumes are drying down and may slip further in the coming sessions towards 400. As of now, avoid it as long as we don't see clear signs of strength back at this counter.
Also Read: Nifty IT underperforms Nifty 50 in last 1 year; time to take contra bets? Five hundred and thirteen people with early-stage Parkinson's disease from Europe, the United States, and India participated in a global trial named PROSEEK. Patients with early-stage Parkinson's disease were to be the subjects of safety and efficacy trials for the selective c-Abl tyrosine kinase inhibitor.
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