[Featured Stock] Celltrion Rises After 4 Trading Days on Overseas Approval Hopes for COVID-19 Treatment

[Image source=Yonhap News]

[Asia Economy Reporter Eunmo Koo] Celltrion is showing a rebound in the early trading session for the first time in four trading days. This is interpreted as being influenced by expectations for overseas approval and export momentum of the novel coronavirus antibody treatment 'Rekkironaju' (generic name Regdanvimab, code name CT-P59).

As of 9:38 a.m. on the 18th, Celltrion was trading at 337,500 KRW, up 2.58% (8,500 KRW) from the previous trading day. At the same time, Celltrion Healthcare and Celltrion Pharm were also up 4.18% and 2.83%, respectively.

Byunghwa Han, a researcher at Eugene Investment & Securities, explained, "It is judged that sufficient results for emergency approval were derived from the Phase 2 clinical trial of Rekkironaju," adding, "The average recovery period for all clinical patients improved by 3.4 days (from 8.8 days to 5.4 days) compared to the placebo group, and in the moderate patient group aged 50 and over, it improved by 6.4 days (from 13 days to 6.6 days)." He further stated, "There were no serious adverse reactions in the safety evaluation," and forecasted, "Emergency approval applications will be submitted to the U.S. Food and Drug Administration (FDA) and the European Medicines Agency (EMA) in January and February, with approval and exports expected to begin within the second quarter."