Raphas, a company specializing in microneedles (micro-needles), is surging on the outlook that phase 2 clinical trials for its patch-type obesity treatment will begin on the 15th.
As of 9:15 a.m. that day, Raphas was trading at 15,370 won, up 1,470 won (10.58%) from the previous session.
Raphas, together with Daewon Pharmaceutical, is developing the world's first patch-type obesity treatment. According to phase 1 clinical trial results announced in Apr., there were no serious adverse reactions at any dose, and the relative bioavailability was 30% compared with the subcutaneous injection method.
Independent research firm Value Finder said in a report that day, "Raphas is set to enter phase 2 based on positive phase 1 clinical trial results," adding, "Phase 2 is expected to be filed overseas within the fourth quarter."
It added, "If things move quickly, phase 2 could be completed in the first half of next year," and "as the world's first clinical results for a microneedle patch formulation are set to be released, interest from global pharmaceutical companies is rising."