JEIL PHARMACEUTICAL's stock is strong. This is interpreted as being due to its subsidiary's new drug being designated as an orphan drug by the U.S. Food and Drug Administration (FDA).
According to the Korea Exchange on the 18th, as of 9:29 a.m., JEIL PHARMACEUTICAL is trading at 13,510 won, up 3,110 won (29.90%) from the previous trading day.
At the same time, JEIL PHARMACEUTICAL's subsidiary, Onconic Therapeutics, is also trading at 18,040 won, up 29.97% from the previous trading day. This is the upper limit.
On this day, Onconic Therapeutics announced that its next-generation dual-target synthetic lethality cancer drug candidate, "Nesupapirib," has been designated as an orphan drug for gastric cancer and gastroesophageal junction cancer by the U.S. FDA. The FDA's orphan drug designation (ODD) approval rate is only 17.6%.
"Nesupapirib" is a next-generation synthetic lethality targeted cancer drug that simultaneously inhibits PARP and Tankyrase. PARP is an enzyme that repairs DNA damage in cells. It helps cancer cell DNA repair and survive. Inhibiting this can induce cancer cell death. "Nesupapirib" was previously designated as an orphan drug by the FDA and the Korean Food and Drug Administration for pancreatic cancer in 2021.
As of the end of last year, JEIL PHARMACEUTICAL is the largest shareholder, holding a 46.28% equity stake in Onconic Therapeutics.