KOSPI-listed Hyundai Pharm shares were strong early on the 19th. The stock is rising for a third straight session on news that the partner Italian drugmaker's new male-pattern hair loss treatment, the 5% solution of clascoterone, showed significant efficacy in phase 3 trials.
As of 9:30 a.m. that day, Hyundai Pharm was trading at 13,810 won, up 620 won (4.70%) from the previous session.
In early January, Cosmo Pharmaceuticals released two phase 3 results for the 5% clascoterone solution. In trials of 1,465 patients across 50 sites in the United States and Europe, the treatment arm saw a 539% increase in hair in the application area compared with placebo. With efficacy demonstrated, expectations have risen that if the new drug is commercialized, partner Hyundai Pharm could benefit.
Hyundai Pharm has risen for three straight sessions. On the 15th, it finished transactions at the upper price limit (the daily price-increase cap), and on the 16th, it rose 24.91%.
In 2023, Hyundai Pharm signed an exclusive license agreement with Cosmo Pharmaceuticals' subsidiary Cassiopea for domestic development and commercialization of the new acne treatment "Winlevi."