[Featured Stock] Pharmicell Wins 'Conditional Approval Rejection Cancellation' Lawsuit Against Cellgram-LC... 'Strong Rise'

[Asia Economy Reporter Yoo Hyun-seok] Pharmicell is showing strong performance. It appears that the news of winning the administrative lawsuit to cancel the conditional approval rejection for the cirrhosis treatment drug 'Cellgram-LC' has had an impact.

As of 2:44 PM on the 2nd, Pharmicell was trading at 19,450 KRW, up 4.29% (800 KRW) compared to the previous trading day.

Pharmicell announced on its website that it won the first trial of the administrative lawsuit to cancel the conditional approval rejection for Cellgram-LC. The company stated, "In the first trial of the lawsuit filed against the Minister of Food and Drug Safety at the Seoul Administrative Court regarding the conditional approval rejection cancellation of the alcoholic cirrhosis stem cell treatment drug Cellgram-LC, we won the ruling today that 'the Minister of Food and Drug Safety shall cancel the conditional approval rejection.'" They added, "We would like to express our gratitude to everyone who has shown interest and support, and Pharmicell will continue to focus all its capabilities to ensure that Cellgram-LC receives product approval and can be sold."

Pharmicell completed phase 2 clinical trials for the alcoholic cirrhosis treatment drug 'Cellgram-LC' and received conditional approval, but the Ministry of Food and Drug Safety rejected it in February last year. Consequently, Pharmicell filed an administrative lawsuit.