[Featured Stock] Seegene Drops Over 8% as Vaccine Development Expectations Rise

Decline in Stocks Related to COVID-19 Diagnostic Kits

[Asia Economy Reporter Minji Lee] Seegene's stock price fell below 200,000 won during trading as expectations for the development of a COVID-19 vaccine increased.

At 10:02 AM on the 24th, Seegene was trading at 194,300 won, down 8.39% from the previous trading day. During the day, Seegene's price dropped to as low as 193,300 won. Other diagnostic-related stocks such as PCL (-4.5%), EDGC (-3.85%), and LabGenomics (-1.98%) also showed a downward trend.

The World Health Organization (WHO) expressed a welcoming stance on the clinical trial results of the COVID-19 vaccine developed by Oxford University and AstraZeneca on the 23rd local time.

This follows Oxford University and AstraZeneca's announcement that the average efficacy of their COVID-19 vaccine is 70%. Although this is lower compared to the Pfizer and Moderna vaccines, which have an efficacy of 95%, the dosage is smaller, and when a full dose is administered one month later, the preventive effect reportedly rises to 90%.