On the 2nd, during the early trading session, the stock price of OliX Pharmaceuticals, a gene therapy development company, rose by over 19%. This is interpreted as being influenced by a report from securities firms indicating that the current stock price is significantly undervalued considering the potential for additional technology transfers.
As of 9:34 a.m. on the 2nd, OliX Pharmaceuticals is trading at 70,000 won, up 11,200 won (19.05%) from the previous trading day on the KOSDAQ market. It reached a peak of 71,500 won during the trading session, setting a new high for the year.
Eom Min-yong, a researcher at Shinhan Investment Corp., noted on this day, "Among domestic biotechs, only four corporations have signed main contracts with big pharma: Alteogen, LigaChem Biosciences, ABL Bio, and OliX. If OliX secures additional contracts with multiple big pharma, it will be evident that the stock price is severely undervalued."
He added, "We will enhance our negotiating power with the many big pharma currently in discussion while simultaneously conducting clinical phase 2 trials and announcing the results of the dry age-related macular degeneration treatment 301A 1a/1b trial in September. We believe the current stock price represents an opportunity, and the stock price is expected to rise significantly depending on the clinical results and contract announcements."