[Featured Stock] Samil Pharmaceutical's NASH Treatment 'Aramcol' Gains Strength After US FDA Phase 3 Clinical Trial Approval

[Asia Economy Reporter Minwoo Lee] Samil Pharmaceutical's stock price is on the rise. The news that the U.S. Food and Drug Administration (FDA) has approved the Phase 3 clinical trial of 'Aramchol,' a non-alcoholic steatohepatitis (NASH) treatment for which Samil Pharmaceutical secured the distribution rights, appears to have acted as a positive catalyst.

As of 10:09 AM on the 3rd, Samil Pharmaceutical's stock price recorded 10,600 KRW, up 18.78% compared to the previous day. The approval news of the FDA Phase 3 clinical trial for the NASH treatment Aramchol seems to have had a positive impact.

According to major foreign media including Yahoo Finance, the U.S. FDA approved the Phase 3 clinical trial application using Aramchol meglumine submitted by the Israeli pharmaceutical company Galmed. Consequently, Galmed's stock price closed up 17.27% overnight on the U.S. Nasdaq market.

Aramchol is also considered the most promising substance among NASH treatments. Samil Pharmaceutical previously secured the domestic distribution rights for Aramchol through a contract with Galmed in 2016.