[Featured Stock] CodiEM, COVID-19 Alert Level Raised to Severe... 'Rising'

[Asia Economy Reporter Hyunseok Yoo] Bio platform company Codiem is rising.

As of 9:12 AM on the 24th, Codiem was trading at 424 KRW, up 3.92% (16 KRW) compared to the previous trading day.

Recently, due to COVID-19, the government's highest risk level was raised from "crisis" to "severe," increasing concerns about additional confirmed cases and secondary infections.

It is interpreted that Future Medicine, in which Codiem is a major shareholder, recently gained attention for registering a patent for a virus treatment drug (FM201). Future Medicine has filed patents through joint research with Seoul National University and Leiden University in the Netherlands for synthetic new drug candidates aimed at developing treatments for MERS-CoV and SARS-CoV (Severe Acute Respiratory Syndrome coronavirus). The research is led by Professor Nakshin Jung of Seoul National University College of Pharmacy, who is spearheading the development of the treatment.