The decision by HLB, a pharmaceutical company, regarding a new liver cancer drug from the U.S. Food and Drug Administration (FDA) is imminent, causing stock prices to fluctuate sharply.
HLB stock was traded at 80,500 won on the Korea Securities Dealers Automated Quotations market at 9:27 a.m. on the 10th, down 6.18% (5,300 won) from the previous trading day. In early trading, the stock price plummeted more than 20% to 67,600 won before HLB issued a statement that reduced the price drop.
HLB noted, "There are many malicious rumors circulating regarding the new drug approval, and I think the rumors will intensify as the approval date approaches."
HLB said, "The FDA has not made any decisions yet, and especially now it is Sunday in the U.S.," adding, "We plan to announce the decision immediately through YouTube, so please do not be swayed by the rumors."
HLB has applied to the FDA for new drug approval for liver cancer as a first-line treatment using a combination therapy of ribociclib and camrelizumab. The FDA is scheduled to decide on the new drug approval on the 20th (local time).