[Asia Economy Reporter Oh Ju-yeon] Comipharm's stock fell 12% during trading. This is interpreted as a reaction to the news that the clinical trial application for a novel coronavirus disease (COVID-19) treatment was rejected in Spain.
As of 10:04 a.m. on the 14th, Comipharm was trading at 13,550 KRW, down 10.26% from the previous trading day. During the session, it fell as much as 12.91%.
On the same day, Comipharm announced through a disclosure that the Spanish Agency of Medicines and Medical Devices (AEMPS) rejected the application for the Phase 2/3 clinical trial plan to evaluate the safety and efficacy of PAX-1 in pneumonia patients caused by the COVID-19 virus.
Regarding the reason for the rejection, the company explained, "We received 35 supplementary inquiries and requests for materials related to the clinical trial application from AEMPS and submitted the relevant responses and materials. However, the clinical trial approval was rejected because the explanations for several items were deemed insufficient."
The company stated, "We are immediately confirming the specific reasons for the rejection and establishing a response plan. We will review and proceed with supplementing the reasons for the rejection and reapplying to obtain approval."
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