[Featured Stock] PharmGen Science Soars Over 9%... "Joint mRNA Vaccine Development Agreement with Access Bio and Ivy Pharma"

[Asia Economy Reporter Park Ji-hwan] PharmGen Science is experiencing a surge for the second consecutive day.

According to the Korea Exchange on the 24th, as of 10:31 AM, PharmGen Science is trading at 15,000 KRW, up 9.89% (1,350 KRW). Following the price limit increase the previous day, it is showing a sharp rise for two consecutive trading days.

The strong stock performance this week is interpreted as reflecting PharmGen Science's decision to jointly develop a biosimilar (biopharmaceutical generic) of an mRNA (messenger ribonucleic acid)-based COVID-19 vaccine.

On the 21st (local time in the United States), PharmGen Science announced that it attended the 'Korea-US Global Vaccine Partnership' hosted by the government in New York, USA, and signed an MOU for joint development and commercialization of a COVID-19 vaccine with its US subsidiary Access Bio and the US venture IVY Pharma.

This MOU centers on PharmGen Science and Access Bio introducing the world's first mRNA COVID vaccine biosimilar candidate secured by IVY Pharma to jointly develop an mRNA COVID vaccine biosimilar.