On the 27th morning, MEDIPOST shares are up more than 20%.
Given that the severe knee osteoarthritis treatment "Cartistem" proved its value through a contract with Japan before the end of phase 3, the current share price should be re-rated to at least double, according to a securities firm analysis.
As of 9:38 a.m. that day, MEDIPOST was trading on the KOSDAQ market at 22,400 won, up 4,330 won (23.96%) from the previous session. The share price jumped to as high as 23,400 won early in the session, setting a 1-year high.
Wi Hae-ju, a researcher at Korea Investment & Securities Co., said that the background for Japan's Teikoku Seiyaku signing a deal even before confirming the final clinical results is presumed to be the high visibility of clinical success and strong demand for Cartistem in a super-aged society, adding that the Cartistem price to be sold starting in 2028 is expected to be around 30 million won.
Reflecting the value of Cartistem in Japan, the share price should double, the researcher noted. The present value of MEDIPOST's attributable sales from the Japan contract is estimated at 689.1 billion won, and the explanation is that the stock remains undervalued as the price did not rise even after the deal was signed last year.
The researcher said, the short-term momentum is the end of Japan's Cartistem phase 3 in the first quarter and an announcement in the second quarter, and because it is a trial widely expected to succeed, the opportunity outweighs the risk, adding that the start of a U.S. phase 3 for an injectable drug candidate is also scheduled this year, making inclusion as a beneficiary stock for phase-3-focused funds possible.