[Special Stock] TissueGene Delisting Decision Postponed... Kolon Life Science Down 7%

[Image source=Yonhap News]

[Asia Economy Reporter Myunghwan Lee] Kolon TissueGene's delisting decision has been postponed, causing its affiliate Kolon Life Science to experience a sharp decline in early trading on the 8th.

[Image source=Yonhap News]

As of 10:40 a.m. that day, Kolon Life Science was trading at 38,350 KRW, down 7.7% from the previous trading day. The sharp decline appears to be due to the spotlight on Kolon Life Science following the announcement that the review related to Kolon TissueGene's delisting has been postponed.

Earlier, the Korea Exchange held a KOSDAQ Market Committee meeting on the 7th to discuss whether to delist Kolon TissueGene and announced that the related review would be resumed.

Kolon TissueGene has been subject to a substantial review of listing eligibility due to controversy over the components of its new drug 'Invossa-K' (Invossa) and has had its stock trading suspended since May 2019.

The company was given two improvement periods by the KOSDAQ Market Committee in 2019 and 2020, which ended in December last year, and it submitted the final improvement plan implementation report last month.

The KOSDAQ Market Headquarters stated, "The decision on whether to delist will be made after review and resolution following the end of the improvement period granted by the Corporate Evaluation Committee, which is scheduled for the end of August."