Bridge Biotherapeutics started on an upward trend on the 23rd after six consecutive days of decline with a lower limit.
As of 9:13 a.m. on the day, Bridge Biotherapeutics is trading at 1,325 won, up 61 won (4.83%) from the previous day in the KOSDAQ market.
Bridge Biotherapeutics announced after the market closed on the 14th that its treatment for idiopathic pulmonary fibrosis, 'BBT-877', did not show significant improvement effects in Phase 2 clinical trials. Idiopathic pulmonary fibrosis is a refractory disease in which the lungs stiffen and lose function, which can lead to death in severe cases.
Since then, it recorded a lower limit for five consecutive trading days from the 15th. The stock price fell from 8,960 won on the 14th to 1,515 won on the 21st, a reduction to one-sixth of its value. Although it escaped the lower limit on the 22nd, it still declined by 251 won and could not avoid a downward trend.
Lee Jeong-kyu, CEO of Bridge Biotherapeutics, said on the company's website on the 21st, 'Without being tied to management rights, we will actively pursue strategic alliances and financial investments by contacting and meeting with domestic and foreign pharmaceutical companies for sustainable development as a listed company.'