On August 3rd, Minjeong Seon, a researcher at Hana Financial Investment, stated, "Since blockbuster products like Januvia are diabetes treatments, they have shown steady growth in sales despite the absence of sales activities. New products such as K-CAB, Prevnar, and Prolia are growing nearly twice as much compared to the previous year. The top 10 products each sell close to 10 billion KRW quarterly, which means there are as many as 10 products selling about 50 billion KRW annually. Attention to Chong Kun Dang's R&D: 1) CKD-702, a dual antibody targeting EGFR/c-Met, is currently undergoing Phase 1/2 clinical trials involving about 65 patients at three hospitals in Korea. As seen in the case of Lazertinib, there is a high demand from global pharmaceutical companies for third-line treatments for non-small cell lung cancer, indicating a clear demand for CKD-702. At AACR, animal model results confirmed excellent tumor suppression effects. 2) The second is CKD-506, a treatment for rheumatoid arthritis. Phase 2a clinical trials were completed this year, and results will be announced at the American College of Rheumatology (ACR) meeting in November. If efficacy is confirmed in clinical trials, the value of CKD-506 is expected to significantly jump. It is now time to assign an appropriate valuation to Chong Kun Dang." The target price for Chong Kun Dang was announced as 180,000 KRW.
Over the past five days, individual investors have net purchased 366,527 shares of Chong Kun Dang, while foreigners and institutions have net sold 65,960 shares and 236,249 shares, respectively.
※ This article was generated in real-time by an automated article generation algorithm jointly developed by Asia Economy and the financial AI specialist company Thinkpool.
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