[Featured Stock] Kumho HT Rises on FDA Application for Antibody Test Kit Amid COVID-19 Resurgence

[Asia Economy Reporter Minwoo Lee] Kumho HT's stock price is on the rise. Amid the resurgence of COVID-19 and the Delta variant, attention is focused on Dinona, which is scheduled to merge with Kumho HT and is currently promoting the export of COVID-19 antibody rapid diagnostic test kits.

As of 10:02 AM on the 7th, Kumho HT's stock price recorded 2,415 KRW, up 3.87% compared to the previous day. The diagnostic kit business of Dinona, which is scheduled to merge with Kumho HT, has attracted attention amid the resurgence of COVID-19. According to the Central Disease Control Headquarters, the number of new COVID-19 cases as of midnight that day was 1,212, exceeding 1,200 for the first time since the end of December last year.

Dinona, a company specializing in antibody drug development, obtained export approval for the COVID-19 antibody rapid diagnostic test kit (RDT) from the Ministry of Food and Drug Safety at the end of last year. It has also applied for emergency use authorization in major countries including the U.S. Food and Drug Administration (FDA).

Meanwhile, Kumho HT announced on the 2nd that the effectiveness of the securities registration statement submitted for the merger listing with Dinona has taken effect. Accordingly, a shareholders' meeting will be held on September 17 to seek approval for the merger.