Sam Chun Dang Pharm is on the verge of becoming a "emperor stock (100,000 won per share)" for a second straight day.
As of 9:28 a.m., Sam Chun Dang Pharm was trading at 1,024,000 won on the Korea Exchange, up 88,000 won (9.4%) from the previous session.
Investor sentiment appears to be flocking to the news of a clinical trial launch. Sam Chun Dang Pharm said on the 19th that it applied for a phase 1/2 clinical trial plan (CTA) for an oral insulin candidate developed with its own proprietary technology. On the news, the stock surged more than 14% the next day, overtaking EcoPro to take the No. 1 spot in market capitalization on the KOSDAQ market.
Sam Chun Dang Pharm shares had risen for six consecutive sessions since the 17th of this month before closing slightly lower the previous day. Still, after topping 1 million won intraday for the first time the previous day, it is attempting to break 1 million won on a closing basis again today.