Shares of CellBion, a developer of radiopharmaceuticals (RPT), plummeted on the 4th during after-market trading (3:40 p.m. to 8 p.m.). Investors, disappointed by the primary results (topline data) of the clinical stage 2 candidate drug, focubotide (Lu-177-DGUL) for prostate cancer treatment, seem to have moved into a 'sell' mode.
CellBion shares traded for 18,900 won at 5:52 p.m. on the 4th on NextTrade. The stock fell 30% (8,100 won) from the previous day's closing price, hitting the lower limit (the lowest price limit for the day).
On that day, CellBion shares ended the regular session trading at 27,900 won, up 3.33% (900 won) from the previous day's closing price, but the investor sentiment quickly chilled following the announcement of the focubotide clinical stage 2 results after the market closed.
Prior to this, CellBion had registered a total of 91 patients for the focubotide clinical stage 2 trial, completing dosages in April. The objective response rate (ORR) for focubotide was 35.9% (28 patients). There were 7 subjects evaluated as complete response (CR) and 21 subjects evaluated as partial response (PR). The ORR based on 61 patients disclosed by CellBion in June was 47.54%, which is lower than this.
However, CellBion explained that this figure is higher than the 29.8% ORR (CR 6.8%, PR 23.0%) recorded in the global phase 3 trial (VISION study) when combined with the standard treatment by the global pharmaceutical and biotech company, Pluvicto.
CellBion also noted that it plans to apply for conditional approval after receiving the final clinical study report (CSR) during the 4th quarter of this year.