Shaperon(378800) approved a 5-to-1 reverse stock split at an extraordinary shareholders meeting. The company plans to reduce the number of shares to enhance transaction stability while focusing on follow-up trials and technology transfer for major pipelines, including the atopic dermatitis treatment "Nugel."
Shaperon said on the 7th that it approved the 5-to-1 reverse stock split agenda at the extraordinary shareholders meeting.
Under this decision, the par value per share will change from 500 won to 2,500 won. The total number of issued shares will be reduced from 46,243,031 to 9,248,606. The company said it would maintain an appropriate number of floating shares to enhance transaction stability and corporate value.
The company plans to concentrate resources on commercializing and transferring technology for five pipelines: atopic dermatitis, idiopathic pulmonary fibrosis, dementia, diabetic foot ulcer, and acute respiratory distress syndrome (ARDS).
At the shareholders meeting, results from Nugel's global phase 2b "part 2" and the follow-up development strategy were also disclosed.
In phase 2b part 2, Nugel did not meet the primary endpoint, the Eczema Area and Severity Index (EASI). It also did not reach statistical significance on another key measure, the Investigator's Global Assessment–Treatment Success (IGA-TS).
In the earlier phase 2b "part 1," the IGA-TS success rate was about 50% in the treatment arm, higher than the placebo group (11.1%), and no serious drug-related adverse events were observed.
Shaperon also disclosed results of a Bayesian statistical analysis of the three Nugel clinical trials conducted in Korea and the United States. The company said that if it secures a sufficient number of patients and proceeds with follow-up trials, the probability of success is estimated at over 80%.
A Shaperon official said, "We are looking for a partner to conduct the follow-up trials together, and we plan to actively use the accumulated clinical data and analysis results for technology transfer."