HLB has increased its stake in HLB Therapeutics, strengthening its control over the latter.
HLB said Tuesday that it has purchased 673,000 shares of HLB Therapeutics, increasing its stake to 6.25 percent from 5.51 percent.
HLB also purchased 660,000 shares last November. HLB Chairman Jin Yang-gon and HLB Therapeutics CEO Ahn Ki-hong participated in the purchase.
HLB Therapeutics is conducting phase 3 clinical trials of its neurotropic keratitis (NK) drug candidate in the U.S. and Europe.
Last December, HLB Therapeutics announced a stock dividend of 0.035 shares per common share, totaling 2.58 million shares, and the proposal will win approval at its annual general meeting of shareholders next Tuesday.
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Kim Chan-hyuk
kch@docdocdoc.co.kr