On the 2nd, Peptron was plunging for the second straight day on news that it extended a technology evaluation with Eli Lilly and Company. Following a drop of more than 6% the previous day, it was down 12% intraday.
As of 9:30 a.m. that day, Peptron was trading on the KOSDAQ market at 279,000 won, down 38,500 won (12.13%) from the previous trading day. Peptron, which traded at 340,000 won on the 28th of last month, fell 6.62% the previous day and more than 12% that day, trading in the 270,000-won range.
After the regular session closed on the 28th of last month, Peptron said in a notice to shareholders, "Recently, the two companies agreed to additionally conduct in vivo experiments on the SmartDepot formulation of a specific peptide," and added, "Accordingly, the end point of the technology evaluation could be extended from the original 14 months to some extent."
Afterward, the company disclosed on the 1st that it could extend the end point of the technology evaluation to up to 24 months. Given that the technology evaluation began on Oct. 7, 2024, it means the original end date of Dec. 7, 2025, could be pushed back to as late as Oct. 7, 2026.