Naturecell's stock price is falling more than 20% during trading. Despite issuing a rebuttal regarding the rejection of the marketing authorization for the degenerative arthritis treatment 'Jointstem,' the stock has been declining for three consecutive trading days.
As of 9:56 a.m. on the 11th, Naturecell is trading at 9,490 KRW, down 21.64% from the previous trading day. Earlier in the session, the stock price dropped to 9,310 KRW, marking a decline of over 20%. Following the rejection of Jointstem's marketing authorization by the Ministry of Food and Drug Safety on the 7th, the stock has fallen for two consecutive trading days, and investor withdrawal appears to be continuing today as well.
Although the company posted a rebuttal on its website, the downward trend in the stock price continues. The company claims, "The review result of the Drug Reexamination Committee regarding the validity of the marketing authorization concluded a lack of clinical significance due to an error in interpreting the clinical trial results."
Furthermore, the company added, "In the first Drug Reexamination Committee, there was clinical significance in symptom improvement; however, it appears that the Ministry of Food and Drug Safety gathered confidential expert opinions and, in the second committee, discussed whether the statistical significance was clinically meaningful."
Meanwhile, Naturecell plans to request a re-examination to ensure proper review according to a Ministry of Food and Drug Safety guideline and intends to pursue overseas approval separately from domestic authorization.
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