[Featured Stock] InscoBio Rises on Growing Expectations for COVID-19 Treatment in US Phase 3 Clinical Trial

[Asia Economy Reporter Minwoo Lee] InscoBi's stock price is on the rise. The new drug substance Apitox is currently undergoing Phase 3 clinical trials with the U.S. Food and Drug Administration (FDA), and there is optimism that Apitoxin, a pain relief agent, could become a treatment for COVID-19, which appears to be acting as a positive factor.

As of 11:10 AM on the 5th, InscoBi's stock price recorded 2,275 KRW, up 8.33% from the previous day. Positive expectations for the development of a COVID-19 treatment using 'Apitoxin,' a natural bee venom-based pain relief agent from its subsidiary Apimez, seem to have contributed to this rise.

Apimez has been conducting antiviral efficacy tests (in vitro tests) related to COVID-19 using Apitoxin. Apitoxin, based on bee venom components, has previously shown in animal experiments to help enhance immunity against human immunodeficiency virus, influenza A virus, herpes simplex virus, and respiratory syncytial virus. Based on this, experiments are underway to verify whether it is effective against the COVID-19 virus as well. It is expected that results may be obtained as early as the third quarter.

In the U.S., since the new drug substance Apitox has received approval for Phase 3 clinical trials, expectations are growing for its successful passage through the FDA Phase 3 clinical trials. Earlier in March, InscoBi appointed CEO Gu Ja-gap and stated, "We expect CEO Gu to advance InscoBi's diverse business portfolio, establish Apimez's U.S. subsidiary, and lead the completion of the FDA Phase 3 clinical trials for new drug development, achieving significant results."