[Asia Economy Reporter Hyungsoo Park] NeoImmuneTech is rebounding just three days after its listing. It appears that the halo effect from SK Bioscience's listing is influencing NeoImmuneTech's stock price.
At 10:55 AM on the 18th, NeoImmuneTech was trading at 15,600 KRW, up 11.03% from the previous day.
NeoImmuneTech was listed on the KOSDAQ market on the 16th with a public offering price of 7,500 KRW. It started trading at an opening price of 15,000 KRW on the first day of listing, but the stock price fell to 14,050 KRW over the next two days.
NeoImmuneTech's main pipeline candidate, ‘NT-I7’ (active ingredient: epineptakin alpha), is the world's first immune-oncology therapy with a T-cell amplification mechanism. It is an improved interleukin-7 (IL-7) incorporating the protein-sustaining platform ‘hyFc’ technology. The technology was licensed from Genexine. The company holds the rights to NT-I7 in the US and Europe, which account for 80% of the global immune-oncology market.
NeoImmuneTech is developing NT-I7 in an intramuscular injection formulation. It is expected to promote T-cell amplification, reactivation, and migration within the body. CEO Yang Se-hwan emphasized, "NT-I7 is the only drug in the world confirmed through clinical trials to amplify T-cells and demonstrate anti-cancer efficacy."
Seokunhee, a researcher at Samsung Securities, said, "Attention should be paid to the Check-7 program among the current NT-I7 clinical programs," adding, "Clinical trials are underway with immune checkpoint inhibitors from global pharmaceutical companies Roche, Merck, and BMS."
He continued, "We expect technology transfers and corporate value enhancement through result presentations at various conferences within this year," and introduced, "Results for the combination clinical Phase 1b trial (NIT-110) with Keytruda for solid tumor patients will be announced at the ASCO conference in June."
He emphasized, "At the SITC conference last November, interim results for triple-negative breast cancer patients confirmed the tolerability and safety of NT-I7 combined with Keytruda."
Furthermore, "At the SITC conference this November, results for the combination clinical Phase 1b trial (NIT-106) of NT-I7 with Tecentriq for skin cancer patients will be announced," and said, "there is a high possibility that positive clinical results will raise expectations for technology transfers with global pharmaceutical companies."
As SK Bioscience's stock price soared to 160% above its public offering price, recently listed stocks such as BioDine and Prestige BioLogics also showed strong performance. With SK Bioscience's buy orders reaching 6.7 million shares, making it difficult to purchase SK Bioscience shares, investors appear to be turning their attention to new stocks.
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