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Hot stock: Hyphens Pharma up 39% after successful UK patent, product launches
SHARES of Catalist-listed Hyphens Pharma International made gains amid active trading on Tuesday, following an announcement that its patent for Ceradan Advanced has been granted in the UK.
Shares of the pharmaceutical and consumer healthcare group were trading at 33.5 cents as at 11.12am, up 4.7 per cent or 1.5 cents from Monday's closing price of 32 cents.
They then climbed to 44.5 cents by 3.40pm, up 39 per cent or 12.5 cents from the previous close, after almost 33.2 million shares traded.
Hyphens Pharma on Monday evening said its patent for Ceradan Advanced is also pending approval in 13 countries/regions, including Singapore, Malaysia, Vietnam, China, Europe and the US.
Ceradan Advanced is a next‐generation emollient therapy scientifically formulated for eczema‐prone skin conditions.
Hyphens Pharma chief executive Lim See Wah said patenting the company's intellectual property was "strategic", as it contributes towards the expansion of Ceradan Advanced's branding.
The company on Monday also announced the launch of two new products, Ceradan Gentle Cleanser and Ceradan Hand Lotion Sanitiser. They are available in retail pharmacies such as Guardian and Watsons in Singapore.
The two new products are expected to contribute positively to the revenue and profitability of the group, Hyphens Pharma said. However, there will not be a material effect on the net tangible assets or earnings per share of the group for the financial year ending Dec 31, 2020.