Peptron shares plunged on the after-market (3:40 p.m.–8 p.m.) on the 28th. The drop is seen as stemming from news that the "platform technology evaluation agreement" signed last October with U.S. big pharma Eli Lilly and Company could be extended.
As of 5:26 p.m. that day, Peptron shares were trading at 303,000 won on the alternative exchange NextTrade, down 5,000 won (1.62%) from the previous session. At one point, they plunged more than 9%.
After the regular session closed that day, Peptron said in a notice to shareholders, "Recently, the two companies agreed to conduct additional in vivo tests on the SmartDepot formulation of a specific peptide," and added, "Accordingly, the end point of the technology evaluation may be extended beyond the original 14 months to some extent."
The market appeared to take the move as a signal that further verification of the platform technology is needed. During the regular session, the stock rose at one point to 369,500 won. But Peptron shares plunged more than 9% in the after-market, with the intraday trading range nearing 30% for the day.