In early trading on the 17th, GeneOne Life Science went straight to the upper limit (the top of the daily price cap). The buying frenzy is seen as stemming from news of the spread of a new coronavirus variant.
As of 9:36 a.m. that day, GeneOne Life Science was trading at 1,017 won, up 234 won (29.89%) from the previous session.
This is seen as due to news of the spread of the new coronavirus variant BA.3.2 ("Cicada").
The previous day, Japan's Nihon Keizai Shimbun, citing the U.S. Centers for Disease Control and Prevention (CDC), reported that the spread of the new coronavirus variant has been confirmed in 33 countries worldwide, including Korea, Japan, and the United States.
The virus was first reported in November 2024 in South Africa and is also called "Cicada" due to its long incubation period.
According to the "domestic coronavirus variant share" released by the Korea Disease Control and Prevention Agency, the domestic share of the BA.3.2 variant has been rising rapidly from 3.3% on Jan. to 23.1% in Mar.
GeneOne Life Science is a developer of DNA and RNA vaccines and biopharmaceuticals, and has drawn attention as a vaccine developer responding to infectious diseases such as MERS and COVID-19.