[Asia Economy Reporter Geum Bo-ryeong] Korea Pharma recorded an all-time high on the 18th following the completion of Phase 2 clinical trials for a new drug to treat COVID-19.
As of 9:38 AM that day, Korea Pharma's stock price rose 27.64% (14,900 KRW) from the previous trading day to 68,800 KRW.
The stock price surged to 70,000 KRW at one point during the trading session, hitting the upper limit.
Korea Pharma announced on the 12th that the Phase 2 clinical trials for the COVID-19 new drug treatment, conducted in India by Kyung Hee University and the venture pharmaceutical company ZenenCell using Korea Pharma's self-produced COVID-19 treatment, had been completed. In the upcoming Phase 3 trials, Korea Pharma plans to use clinical trial drugs produced on a large scale.
Following the announcement, Korea Pharma hit the upper limit for three consecutive trading days based on closing prices from the 13th to the 15th.
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