The company made this announcement during trading hours today, 10 February 2010.

Meanwhile, the BSE Sensex was down 9.01 points, or 0.06% to 16,033.17.

On BSE, 2,142 shares were traded in the counter as against an average daily volume of 74,777 shares in the past one quarter.

The stock opened with an upward gap, surging by the maximum 5% daily circuit and remained locked at the 5% level so far in the day. The stock had hit a 52-week high of Rs 75.70 on 8 January 2010 and a 52-week low of Rs 12 on 12 March 2009.

The small-cap stock had underperformed the market over the past one month till 9 February 2010, falling 14.70% as compared to the Sensex's 8.54% fall. It had outperformed the market in the past one quarter, soared 153.19% as compared to the Sensex's decline of 2.77%.

The company's equity capital is Rs 15.77 crore. Face value per share is Rs 10.

The current price of Rs 66.70 discounts the company's Q3 December 2009 annualized EPS of Rs 0.72, by a PE multiple of 92.64.

The company has employed a novel gene silencing technology to develop the drug for liver cancer, it said in a filing with BSE.

Last month, Transgene Biotek entered into a licensing and technology transfer agreement with Dr Reddy's Laboratories for the out-licensing of a technology to manufacture Orlistat.

In early January 2010, Transgene Biotek had received manufacturing license from the Drug Control Department of Hyderabad for manufacturing four drugs Orlistat, Lovastatin, Simvastatin and Pravastatin. These drugs are used to control cholesterol in blood.

Transgene Biotek's net profit surged 200% to Rs 0.27 crore on 53.9% increase in net sales to Rs 1.37 crore in Q3 December 2009 over Q3 December 2008.

Transgene Biotek is engaged in the research and development and manufacture of various medical reagents, both chemical and immuno-diagnostic reagents for the qualitative and quantitative estimation of bio-chemical parameters and diagnosis of diseases respectively.