The stock price of the bio company Nature Cell surged in the pre-market (8 a.m. to 8:50 a.m.) on the 26th. The news that Nature Cell's stem cell treatment for degenerative arthritis, 'Jointstem', could be administered to patients following approval from the U.S. Food and Drug Administration (FDA) appears to have stimulated investor sentiment.
Nature Cell's stock traded at 31,450 won on Nextrade at 8:36 a.m. that day, rising 10.16% (2,900 won) from the previous day's closing price. The stock also traded at 32,750 won.
Nature Cell announced on its website that "the protocol for the Expanded Access Program (EAP) submitted on May 29 for compassionate use of Jointstem in patients in the U.S. was confirmed by the FDA on June 25 (local time)." It added, "We will register the protocol and initiate patient treatment within the day."
The EAP is a system that allows patients facing life-threatening diseases with no or insufficient treatments to use pre-market drugs. Nature Cell has been able to administer Jointstem to patients and secure data, which can be utilized in the FDA approval process.