[Featured Stock] Korea Pharma Rises 17% on News of Entering Phase 2 Clinical Trial for Indian COVID-19 Treatment

[Asia Economy Reporter Kwon Jae-hee] Hanguk Pharma is showing a sharp rise in the early trading session.

As of 9:28 AM on the 10th, Hanguk Pharma is trading at 43,300 KRW, up 17.57% compared to the previous trading day.

Hanguk Pharma, considered a related stock of Genencell, is experiencing early buying momentum after APRG, a Genencell affiliate, announced the start of Phase 2 clinical trials of the oral COVID-19 treatment 'APRG64' in India.

In August 2020, APRG signed a consortium agreement with Genencell, Hanguk Pharma, Korea Institute of Pharmaceutical Research, and Kyung Hee University Industry-Academic Cooperation Foundation to jointly develop a COVID-19 treatment based on 'APRG64'.

Recently, the Indian Clinical Trials Review Board, equivalent to the Indian Bioethics Committee, approved the clinical trial plan for the drug.

The treatment candidate 'APRG64' is a mixture extracted from Senecio scandens and Schisandra chinensis that inhibits viral entry and replication within cells. Early studies showed it to be over 50 times more effective than remdesivir, the first COVID-19 treatment.