CellBion, a KOSDAQ-listed company, saw a decline in its stock price during early trading on the 5th. This is attributed to results from the phase 2 clinical trial of its prostate cancer treatment candidate, Focubotide (Lu-177-DGUL), which fell short of market expectations.
As of 9:23 a.m. on that day, CellBion's stock was trading at 22,300 won, down 5,600 won (20.07%) from the previous trading day.
CellBion, a company specializing in the development of radiopharmaceutical drugs, announced that in the phase 2 clinical trial of Focubotide, analyzed results from 78 of 91 total patients indicated an objective response rate (ORR) of 36% (28 patients), with 7 achieving complete response (CR) (9%) and 21 achieving partial response (PR) (27%). This figure is lower compared to the ORR of 47.54% based on 61 patients that CellBion revealed last June.
However, analysts in the securities market noted that despite the low clinical results compared to expectations, there is still reason to anticipate the final clinical report expected to be released in the fourth quarter of this year.
Kim Seon-a, a researcher at Hana Securities, said, "The reason the clinical results were lower than expected is that 5 patients who did not receive all 6 doses were added under the guidance of independent external advisors during the final clinical evaluation stage," and added, "If these patients receive all 6 doses as planned, the ORR value will rise."
He continued, "There are also trials conducted with a target of 78 patients for conditional approval," and stated, "The expectations for technology transfer remain valid."