[Asia Economy Reporter Hyunseok Yoo] HL Biopharma is showing strong performance. It appears that positive reviews of the anticancer drug Rivoceranib in foreign media have had an impact.
As of 1:28 PM on the 17th, HL Biopharma was trading at 41,550 KRW, up 3.23% (1,300 KRW) compared to the previous trading day.
HL Biopharma announced that Oncology Times reported that the U.S. FDA (Food and Drug Administration) included the designation of Rivoceranib as an orphan drug for adenoid cystic carcinoma in its latest trend update.
Additionally, Oncology Times evaluated Rivoceranib, which is undergoing clinical trials for adenoid cystic carcinoma (ACC), as a "Best-in-Class therapeutic agent with high safety that can significantly improve clinical outcomes when combined with cytotoxic anticancer drugs, immuno-oncology drugs, and others."
Currently, Rivoceranib, for which HL Biopharma has completed Phase 3 clinical trials for gastric cancer and is preparing an NDA, is also conducting a global Phase 3 trial as a first-line treatment for liver cancer and a Phase 2 trial for adenoid cystic carcinoma. Notably, on February 2nd, it was designated as an orphan drug by the U.S. FDA for adenoid cystic carcinoma, a condition with no standard treatment.
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