[Featured Stocks] Chong Kun Dang Group Shares Rise on Hopes for Domestic No.2 COVID-19 Treatment

[Asia Economy Reporter Park Jihwan] On the 17th, stocks of the Chong Kun Dang Group are showing strong performance in the domestic stock market amid expectations for the approval of the second domestically produced COVID-19 treatment.

As of 9:40 AM today, the stock price of Chong Kun Dang Bio is trading at 69,900 KRW, up 8.71% (6,000 KRW) from the previous trading day.

Chong Kun Dang (5.07%) and Chong Kun Dang Holdings (1.37%) are also on the rise.

The rise in Chong Kun Dang Group stocks is interpreted as a positive factor for investor sentiment following the news that the COVID-19 treatment 'Napabeltan,' developed by Chong Kun Dang, has completed Phase 2 clinical trials. On the 8th, Chong Kun Dang applied to the Ministry of Food and Drug Safety for conditional approval of the COVID-19 treatment based on the Phase 2 clinical trial results of Napabeltan.