New drug development corporation HLB Therapeutics has been in a downward trend for five consecutive trading days. This was impacted by the treatment for keratitis failing to demonstrate efficacy in the European Phase 3 clinical trial.
As of 9:15 a.m. on the 26th, HLB Therapeutics shares were trading at 4,780 won, down 6.46% (330 won) from the previous trading day in the KOSDAQ market. The stock price even fell to 4,770 won in early trading, marking a 52-week low.
Earlier, HLB Therapeutics' stock price recorded a lower limit on the 24th. It has continued to decline, dropping about 19% on the previous trading day.
This is largely due to the impact of HLB Therapeutics' U.S. subsidiary, Regentree, failing to pass the European Phase 3 trial for the neurotrophic keratitis (NK) treatment.
On the 24th, HLB Therapeutics stated that its U.S. subsidiary Regentree's European Phase 3 topline results for the NK treatment 'RGN-259' did not secure statistical efficacy.
Regentree received topline primary endpoint results from the contract research organization (CRO) that conducted the European Phase 3 trial. However, they did not confirm a statistically significant difference in the cure rate between the RGN-259 treatment group and the placebo group at four weeks, the primary evaluation variable.