[Featured Stock] Estech Pharma Partners with US Innovative Medical Company... Surge During Trading

[Image source=Yonhap News]

[Asia Economy Reporter Ji Yeon-jin] Estec Pharma saw a sharp rise during trading on the 16th following news of a business agreement with a U.S. innovative medical device company.

Estec Pharma traded at 9,980 KRW on the KOSDAQ market during the day, up 10.89% from the previous day. Afterwards, the stock's gains significantly narrowed due to profit-taking, recording a rise of over 2% as of 2:55 PM.

The company recently signed a business agreement with Alpha Tau Medical, which is listed on NASDAQ. Alpha Tau Medical developed 'Alpha DaRT,' an innovative cancer treatment using alpha radiation. The U.S. Food and Drug Administration (FDA) designated Alpha DaRT as an innovative medical device for treating skin and oral squamous cell carcinoma as well as recurrent glioblastoma.