[Featured Stock] Bioneer Rises Over 6%... Expectations Up for World's First Hair Loss Cosmetic Launch

[Asia Economy Reporter Park Jihwan] On the morning of the 7th, Bioneer’s stock price is strong due to expectations for the world’s first hair loss cosmetic launch.

As of 10:44 AM on the day, Bioneer is trading at 49,000 KRW, up 6.06% compared to the previous trading day. This follows a rise of over 19% the previous day, marking two consecutive days of strong performance.

The reason behind this stock price strength is the expectation that the Ministry of Food and Drug Safety’s approval review results for the hair loss siRNA cosmetic developed by Bioneer will be announced in mid-month.

Researcher Eom Minyong of Hyundai Motor Securities said, "Bioneer’s hair loss cosmetic has passed three domestic human application tests, and the Ministry of Food and Drug Safety’s review results are scheduled to be decided in mid-month." He added, "On the 18th, Novo Nordisk acquired Dicerna, a siRNA therapeutic development company, for 3.3 billion dollars," and continued, "There are predictions that Novartis may acquire Alnylam, leading to an increase in the value of siRNA therapeutic companies."