Shares of Nature Cell recorded a lower limit on the 6th during early trading. This appears to be influenced by the news that the Ministry of Food and Drug Safety rejected the approval for Nature Cell's osteoarthritis stem cell treatment "Jointstem."
As of 9:12 a.m. on that day, Nature Cell shares were trading at 24,750 won, down 29.8% (10,550 won) from the previous trading day in the KOSDAQ market. The stock directly hit the lower limit (the bottom of the daily price restriction) right after the market opened.
Nature Cell announced that its affiliate, Alba Bio, received notification from the Ministry of Food and Drug Safety that the application for approval of the severe degenerative joint disease autologous stem cell treatment "Jointstem" was rejected due to lack of clinical significance.
Earlier, Nature Cell had acquired the right to sell Jointstem domestically if it received approval from the Ministry of Food and Drug Safety.
Nature Cell explained, "We will confirm Alba Bio's future plans for Jointstem and quickly convene a board meeting to decide whether to maintain the contract."