[Asia Economy Reporter Hyungsoo Park] Baxel Bio is showing strong performance. The news that former Prime Minister Chung Sye-kyun will visit the research center of the anticancer immunotherapy development company Baxel Bio on the 29th appears to be influencing the stock price.
As of 11:22 AM on the 27th, Baxel Bio is trading at 103,000 KRW, up 6.3% from the previous day.
Former Prime Minister Chung will visit Gwangju, Jeonnam, and Jeonbuk on a 1-night, 2-day schedule starting on the 28th. Attention is focused on whether Chung, who has embarked on a full-scale presidential campaign after stepping down as Prime Minister, will see a rebound in approval ratings following his visit to Honam.
As his first schedule in Honam, former Prime Minister Chung will pay respects at the National May 18th Democratic Cemetery and then appear on a current affairs program of a local broadcasting station.
In the afternoon, he will move to Gunsan, Jeonbuk, to attend the Saemangeum Green New Deal Forum held at the Saemangeum Convention Center.
On the following day, the 29th, he will visit the research center of Baxel Bio, an anticancer immunotherapy development company in Hwasun, Jeonnam, to encourage the staff, and in the afternoon, he plans to meet with citizens in Chungjang-ro, Gwangju.
Baxel Bio, established in February 2010, is a developer of anticancer immune cell therapies. It covers all areas related to anticancer immune cells, including NK cells, which correspond to innate immunity, dendritic cells (DC) that play an antigen-presenting role, and T cells, which correspond to adaptive immunity. The NK cell therapy, Vax-NK anticancer immunotherapy, is currently undergoing a Phase 2a clinical trial targeting hepatocellular carcinoma patients. The DC cell therapy, Vax-DC anticancer immunotherapy, is in Phase 2 clinical trials as a treatment for multiple myeloma.
Since its completion in 2012, Baxel Bio has operated a GMP facility that has produced cell therapies for over eight years, possessing the capability to manufacture cell therapies directly. Baxel Bio is an anticancer immune cell therapy company that combines the extensive clinical experience of medical staff at Chonnam National University Hospital with a GMP facility capable of direct cell therapy production.
On January 7th of this year, the stock price surged to 299,700 KRW but has since fallen by more than 60%.
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