[Featured Stock] Curacle, Annual Royalties of 300 Billion Won Even with Conservative Estimates... Exceeding Market Capitalization

[Asia Economy Reporter Hyungsoo Park] Curacle, which recorded its lowest stock price since listing, has recently continued its rebound trend. Expectations for CU06, a treatment for diabetic macular edema and wet age-related macular degeneration in the final stages of Phase 1 clinical trials in the U.S., appear to be influencing the stock price.

As of 10:56 a.m. on the 11th, Curacle is trading at 19,500 KRW, up 20.68% from the previous day.

Yoo Jae-hyun, CEO of Curacle, stated in an interview with a media outlet, "The Phase 1 clinical trial of CU06 in the U.S. will conclude this month," adding, "In the Phase 1 trial focused on safety, no adverse reactions were observed even when administering six times the basic dosage."

They are preparing for Phase 2 clinical trials and plan to submit an Investigational New Drug (IND) application to the U.S. Food and Drug Administration (FDA) within this year. Curacle will directly conduct the Phase 2 trial of CU06, with Thea, Europe’s leading ophthalmology pharmaceutical company, covering all clinical costs.

CEO Yoo said, "Thea predicts CU06 sales to range from 2.8 trillion KRW to a maximum of 3 trillion KRW annually," and added, "CU06 is expected to capture about 16-20% of the global age-related macular degeneration market share."

If Thea’s projections are realized, the royalties Curacle receives from CU06 sales will be around 200 billion to 300 billion KRW. Curacle receives 8% royalties from CU06 sales. Ophthalmology experts anticipate that if the oral drug CU06 is commercialized, it will capture over 50% of the global market share. CU06 works by closing open blood vessels to block the influx of factors causing macular degeneration. This is why Curacle was able to license the technology to Thea for $163.5 million (1.907 billion KRW).

Unlike the existing treatment Eylea, which requires injections into the eye, CU06 is being developed as an oral pill. Due to its high patient convenience, it is considered competitive even if its efficacy is similar to existing treatments.

Curacle was listed on the KOSDAQ market on July 22 last year. It was listed at an initial public offering price of 25,000 KRW and rose to 62,400 KRW within a month. Since then, the stock price showed a downward trend, falling to as low as 11,850 KRW during trading on the 25th of last month.