[Special Stock] Ildong Pharmaceutical, Rising Expectations for COVID-19 Treatment Launch Next Year

[Asia Economy Reporter Ji Yeon-jin] Ildong Pharmaceutical is recording the upper price limit during trading on the 15th as news spreads that it is showing the fastest clinical trial phase among COVID-19 treatments.

From 9:37 a.m. on the same day, Ildong Pharmaceutical is trading on the KOSPI market at 33,700 KRW, up 29.87% (7,750 KRW) compared to the previous day. Ildong Pharmaceutical also closed at the upper price limit on the 7th and has shown a continuous rise for seven consecutive trading days.

The expectation that clinical trials will be completed in the first half of next year and emergency use approval will be obtained is interpreted as influencing the stock price. Earlier, Choi Sung-gu, Vice President of Ildong Pharmaceutical, stated at the '2021 Korea Bio Investment Conference' held on the 6th, "We plan to complete clinical trials of the COVID-19 treatment 'S-217622' by the end of January next year," adding, "The goal is to launch it in April next year."

On the 17th of last month, Ildong Pharmaceutical agreed to jointly develop the substance as a COVID-19 treatment with Japan's Shionogi Pharmaceutical. Currently, there are only two oral COVID-19 products developed by Pfizer and MSD, and these products are expected to be available for use soon.

The COVID-19 treatment 'S-217622' being developed orally by Ildong Pharmaceutical inhibits the protein-degrading enzyme (3CL-protease) that exists only in the SARS-CoV-2 virus, the infectious agent causing COVID-19, thereby preventing virus replication. It has been confirmed to have similar levels of virus replication inhibition ability against the Alpha, Gamma, and Delta COVID-19 variants, and it is expected to create a significant impact if commercialization is successful.