Expect Financial Risk Resolution Upon Completion of Technology Transfer
'KM-819' for Parkinson's Treatment Progresses Smoothly in US Phase 2 Clinical Trial
[Asia Economy Reporter Kwangho Lee] Kainosmed's rights offering subscription rate for existing shareholders has been completed at 95.5%.
Kainosmed, a new drug company specializing in brain disease treatments, announced on the 7th that the rights offering subscription for existing shareholders conducted over two days on the 5th and 6th resulted in 5,347,845 shares subscribed out of 5.6 million shares offered, achieving a 95.5% subscription rate.
A Kainosmed official stated, “Many existing shareholders, including President Jaemoon Lee and related parties, participated in the oversubscription of this rights offering,” adding, “Once the rights offering is completed, the financial risks that the market had been concerned about will be completely resolved.”
He continued, “The Phase 2 clinical trial of ‘KM-819’ in the U.S. for Parkinson’s disease treatment is progressing smoothly, and news about the start of the Phase 2 clinical trial in Korea for multiple system atrophy treatment will soon be available,” further stating, “Starting from this, Kainosmed’s corporate value is expected to rise even further.”
Despite the investment atmosphere in the pharmaceutical and bio industry being sluggish and the stock market continuing to decline this year, Kainosmed’s subscription rate by existing shareholders appears to have performed well.
The general public subscription for unsubscribed shares will be conducted over two days on the 13th and 14th. The payment date for the subscription is the 16th, and the listing date for the new shares is scheduled for the 28th.
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