In early trading on the 8th, Sam Chun Dang Pharm plunged 14%, giving up the 450,000 won level. Following controversy over a block deal by the largest shareholder, investor sentiment appears to have deteriorated further as a dispute over ownership of the patent for the exclusive platform technology "S-PASS" has flared up.
As of 9:11 a.m. on the 8th, on the KOSDAQ market, Sam Chun Dang Pharm was trading at 444,000 won, down 75,000 won (14.45%) from the previous session.
Earlier, a media outlet reported that the patent for S-PASS, Sam Chun Dang Pharm's drug delivery platform technology, was filed by a Taiwan corporations called "Summit Biotech." It also claimed that because Sam Chun Dang Pharm does not hold equity in Summit Biotech, the rights relationship is unclear.
However, regarding this, Sam Chun Dang Pharm said, "The company signed a contract in 2018 with Taiwan's Summit Biotech to develop the S-PASS technology," adding, "Under the contract, Sam Chun Dang Pharm bears all research and development costs, including animal experiment expense and researchers' salaries, and in return all legal rights, including patent ownership and commercialization rights, are attributed to Sam Chun Dang Pharm."
Meanwhile, as of the 30th of last month, Sam Chun Dang Pharm was in transaction at 1,184,000 won, earning the "emperor stock (100 million won per share)" label. However, with news of a block deal by the largest shareholder and controversy over inflating the size of a key contract, the share price has halved in two weeks.