Sam Chun Dang Pharm shares were strong early on the 24th. During trading, the price topped 1 million won, briefly joining the ranks of "emperor stocks" (stocks priced at 1 million won per share).
As of 9:46 a.m., Sam Chun Dang Pharm was trading at 976,000 won, up 35,000 won (3.72%) from the previous session. It climbed to as high as 1,025,000 won early in the session, setting a 1-year high.
With buyers piling in for days on news of the start of clinical trials, the rally appears to have widened on the back of a market rebound.
On the 19th, Sam Chun Dang Pharm said it applied for a phase 1/2 clinical trial authorization (CTA) for an oral insulin candidate developed with its own proprietary technology. On the news, the stock soared more than 14% the next day, overtaking EcoPro to become No. 1 in market capitalization on the KOSDAQ market.
Sam Chun Dang Pharm shares have risen for six straight sessions since the 17th of this month. At the end of last year, the stock was 232,500 won; in just three months, it climbed into the 970,000-won range, logging a gain of more than 300%.