OliX Pharmaceuticals, a listed company on the KOSDAQ, has been designated as an investment warning stock due to a sharp rise in its stock price, and if the stock price rises further on the 18th, trading could be halted for one day on the 19th.
The Korea Exchange noted in a public announcement of a 'trading suspension warning' that if OliX Pharmaceuticals' closing price on that day exceeds the closing price from the 14th by 40% and is higher than the closing price prior to its designation as an investment warning stock, stock trading will be suspended on the 19th.
The closing price of OliX Pharmaceuticals on the 12th, when it became an investment warning stock, was 45,100 won, which is already higher than the previous day's closing price of 48,150 won. The key point is whether it will surpass 59,000 won (reflecting the bid price) by increasing more than 40% from the closing price of 42,100 won on the 14th. If the stock price rises more than 22% from the previous day's closing price, trading will be suspended on the 19th.
OliX Pharmaceuticals had previously received a trading suspension warning on the 13th as well. On the same day, the stock price fell by 1.11%, and thus, no trading suspension measures were implemented.
The Korea Exchange designates stocks that investors need to be cautious about due to sharp rises in prices as market alert stocks, categorized as investment caution stocks → investment warning stocks → investment risk stocks. Stocks designated as investment warning stocks may have trading suspended first.
OliX Pharmaceuticals is a biotechnology corporation based on ribonucleic acid (RNA) interference technology. The stock price surged following the news that it signed a license agreement with Eli Lilly on cardiovascular and metabolic disease treatments on the 7th. It also hit the upper price limit (the highest daily price restriction) for three consecutive trading days from the 10th to the 12th.