[Asia Economy Reporter Lim Jeong-su] Korean BNC, a bio-venture specializing in bio biomaterials, is recording the upper limit price on the KOSDAQ market for two consecutive days. The stock price surged following the news of approval for Phase 2 clinical trials of a humic substance for the treatment of COVID-19.
On the 21st, Korean BNC's stock price soared vertically in the early trading session, recording the upper limit price (7,510 won) for two consecutive days following the previous day. As of 9:58 AM, it rose 29.93% compared to the previous day's closing price. Currently, there are no sell orders, while buy orders exceeding 3 million shares are piled up.
The rising expectations for the development of a COVID-19 treatment led to the sharp increase in stock price. Korean BNC announced that it received approval from the U.S. Food and Drug Administration (FDA) to proceed with Phase 2 clinical trials for the COVID-19 treatment candidate substance ‘Antroquinonol’.
According to the company, Antroquinonol is a single compound extracted from a mushroom native only to Taiwan. It has excellent antiviral, anti-inflammatory, and anti-pulmonary fibrosis effects, and can be applied to COVID-19 treatment as well.
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