[Featured Stock] VIDI, Payment of Deposit for US Ellison Contract... 2 Consecutive Days of 'Surge'

[Asia Economy Reporter Yoo Hyun-seok] Vidia is soaring for the second consecutive day. It appears that the news of completing the deposit payment for the acquisition of the U.S. new drug development company Ellison Pharmaceuticals has had an impact.

On the 15th, Vidia traded at 9,040 KRW, up 8.00% (670 KRW) from the previous trading day. The stock hit the upper limit price the day before.

Vidia announced that it completed the deposit payment following the contract to acquire 51% of Ellison's shares the previous day. The deposit paid this time corresponds to 10% of the total acquisition amount of 25 billion KRW. On the 4th, Vidia signed a new share acquisition contract to secure 51% of the shares by participating in Ellison's third-party allotment paid-in capital increase.

CEO Kim Il-gang said, "Although there was a recent change in the major shareholder, the company's key management will continue to pursue the existing strategy of securing mid- to long-term growth engines through new bio-centered business initiatives. Since the company's fundamentals are quite solid based on existing businesses, the bio business will also proceed smoothly based on this."

Meanwhile, Ellison is a pharmaceutical company based in New Jersey, USA, with four anticancer drug pipelines. It is currently conducting a Phase 3 clinical trial for a second-line treatment for pancreatic cancer with the U.S. Food and Drug Administration (FDA). The lung cancer treatment, pediatric osteosarcoma treatment, and brain cancer treatment are all undergoing Phase 2 or higher clinical trials with the FDA.