OliX Pharmaceuticals has seen its stock price strengthen in early trading on the 11th. The company recorded a ceiling price (the upper limit of price fluctuation) for two consecutive days following the news of a large-scale technology transfer contract with the U.S. pharmaceutical corporation Eli Lilly.
As of 9:10 a.m. on this day, OliX Pharmaceuticals was trading at 34,700 won, an increase of 8,000 won (29.96%) from the previous trading day. In early trading, OliX headed straight for the ceiling price.
After the market closed on the 7th, the gene therapy new drug developer OliX Pharmaceuticals disclosed that it had signed a global license agreement worth a total of 910 billion won with Eli Lilly.
This collaboration aims to develop and commercialize OliX's clinical phase 1 candidate 'OLX702A' (substance name OLX75016), targeting metabolic dysfunction-associated steatotic liver disease (MASH) and cardiovascular/metabolic diseases. After signing the contract, OliX will grant exclusive licensing to Eli Lilly.
Following the news of the contract signing, OliX Pharmaceuticals rose 29.93% the previous day, closing at the ceiling price. After an 18.17% increase on the 7th, it has continued an upward trend for three consecutive days.