Aptabio's share price soared to its upper limit on Friday on the news that it had secured positive phase 2 clinical trial results for APX-115, its diabetic nephropathy drug candidate.
The company's share price closed at 22,000 won ($16.93) per share, up 29.87 percent from the previous trading day.
The phase 2 clinical trial aimed to confirm the efficacy of the treatment compared to a placebo in 140 patients at 16 hospitals in four European countries.
The company confirmed that while the urine albumin creatinine ratio (UACR), a major biomarker for evaluating kidney disease, decreased by less than 3 percent in the placebo group, the APX-115 group showed a significant difference of about 20 percent or more compared to the baseline.
Also, in patients with moderate or higher nephropathy with a low estimated glomerular filtration rate (eGFR), an important indicator of renal impairment, the treatment candidate significantly reduced the UACR by 50 percent or more compared to the placebo group while increasing eGFR by about 20 percent or more.
Notably, in the APX-115 drug-adhering group (44 patients), a statistically significant reduction in UACR of 30 percent or more was derived compared to the placebo group.
There was no difference in the incidence of adverse events compared to the placebo group, the incidence rate was less than 5 percent, and all recovered during the treatment period.
The company plans to present the detailed results of phase 2 clinical trial at the American Society of Nephrology in early November.
"Currently, the diabetic nephropathy treatment market is worth 10 trillion won," a company official said. "However, the market is limited only to mild cases as there is no treatment for severe cases."
He added that the marketability for APX-115 is very high, and the company has a very advantageous position to preoccupy the global market.
The official stressed that using the positive phase 2 clinical trial data, the company is accelerating negotiations for technology export with multinational pharmaceutical companies.
Diabetic nephropathy is a disease that causes structural and functional impairment of the kidneys due to various causes such as high blood sugar and is a major cause of renal failure.