Sillajen has emerged as the most successful case of the preferential listing on the KOSDAQ market, garnering revenue equivalent to 220 percent of its offering price, market sources say.
A total of 11 bio-businesses have listed their shares on the KOSPI and KOSDAQ market since 2016, thanks to the government’s system that eased listed requirements for technology-oriented companies. Only four of them are maintaining share prices higher than offering prices.
As a majority of companies listed under the preferential system show poor performances in the market, some experts are also criticizing the system.
Sillajen신라젠, however, recorded the highest profits compared with offering prices among the listed bio companies, thanks to the announcement of positive clinical trial results for its anticancer virus Pexa-Vec, and other favorable factors,
The company also expects to expand its target market sharply through Pexa-Vec’s joint clinical trials whose phase 3 global trials are also at hand.
The share price of Qurient큐리언트, amid the rising expectations about its technology transfer of atopic dermatitis therapy Q301, also rose 32.9 percent from its offering price.
The company also has high expectations about a drug resistance tuberculosis therapy Q203, which the U.S. Food and Drug Administration (FDA) designated as a rare medicine, and is in the process of global 1b clinical trial.
The share price of radiation medicine developer Future Chem퓨쳐켐, which invested 5 billion won ($4.5 million) to take over a diagnostic agent producer, climbed 32.7 percent from the offering price.
On the other hand, the share prices of diagnostic kit and vaccine company Bioleaders바이오리더스 and reagent and diagnosis equipment company 'Logos Biosystems로고스바이오시스템즈' dropped 48.7 percent and 44.7 percent, respectively, from their offering prices.
Among the six other bio companies that listed their stocks without preferential treatment since 2016, Samsung Biologics삼성바이오로직스 saw its share price jump 148.5 percent against the offering price, thanks to the recent series of good news from its subsidiary, Samsung Bioepis.
Samsung Bioepis recently received a positive opinion about the approval of Herceptin (Trastuzumab) biosimilar Ontruzant from the Committee for Medicinal Products for Human Use (CHMP) of European Medicines Agency (EMA). It has also become the Korean company with the largest number of four biosimilars among top 10 drugs regarding global sales.
The share price of Sinsin Pharm신신제약, a maker of pain relief patch, also rose 40 percent from the offering price.
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