Pharma Korea Pharma, with 300 employees, listed in August last year(91,000 ↑30.00%)Recorded the upper limit for 5 consecutive trading days. This is thanks to the news that the clinical trial of a new drug candidate (pipeline) for COVID-19 in India with the unlisted Genencel has completed phase 2.
On the 19th, Pharma Korea finished the market at 91,000 won, which rose to the price limit (+30.00%). After closing at 24,600 won on the 12th, it hit the upper limit for 5 consecutive trading days and jumped 269.92% during this period. The company’s market capitalization has risen from 263.8 billion won on the 12th to 9925 billion won on the same day, reaching a breakthrough of 1 trillion won.
Pharma Korea’s stock price has risen due to the news that the company’s Phase 2 clinical trial of Genencel and its ongoing COVID-19 treatment has ended. The company announced that the clinical news was true through an inquiry disclosure. However, it is not a joint clinical trial, he explained that Pharma Korea is only in charge of contract production of clinical drugs.
Pharma Korea said, “Genencell has been informed that it has completed phase 2 on the 29th of last month,” and said, “(Phase 3, etc.) will continue to provide clinical drugs.” The company added, “If the main contract is signed, such as technology transfer for production, we will disclose it in the future.” Said. Although Korea Pharma did not clearly disclose, it is observed that the two companies may have signed the same contract. However, experts point out that investing only with uncertain new drug development prospects is a high risk.
Reporter Yang Byung-hoon [email protected]
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