Molecular diagnostics corporations GeneMatrix hit the upper price limit in early trading on the 17th. Buying gathered on news that a candidate therapeutic vaccine for cervical cancer was registered as a U.S. patent.
As of 9:07 a.m. that day, GeneMatrix was at the upper price limit at 3,190 won, up 735 won (29.94%) from the previous trading day.
GeneMatrix said before the regular session opened that its cervical cancer therapeutic vaccine candidate "GMPV-12" was registered as a U.S. patent. According to GeneMatrix, GMPV-12 works by activating T cells, immune cells, to attack cancer cells.
GeneMatrix plans to push ahead with clinical trials of GMPV-12, joint development with global pharmaceutical companies, and technology transfer after the patent registration.