STCube has completely denied the rumor of a rights offering, stating that "there is no planned content at all."
On the 23rd, STCube closed the market at 10,020 KRW, down 20.16% from the previous trading day. This is believed to be due to the spread of rumors about a rights offering on SNS and online securities bulletin boards.
STCube stated, "We assume that these concerns have spread due to recent news of rights offerings by many bio companies, but our company has never even considered this, and we are currently investigating the source of the rumors."
They added, "We will proceed with our business in a way that does not harm shareholder value," and "Currently, we are focusing our capabilities on the clinical Phase 1b/2 trials of Nelmastovat and a successful new drug development strategy."
In September, STCube received approval for the clinical Phase 1b/2 trials of the small cell lung cancer immuno-oncology drug Nelmastovat (hSTC810) from the U.S. Food and Drug Administration (FDA) and the Korean Ministry of Food and Drug Safety, and is now actively conducting these trials.
An official said, "Currently, Institutional Review Boards (IRBs) at participating hospitals and institutions are underway," and "We plan to start dosing the first patient within this year." Furthermore, they emphasized, "We are also continuing in-depth discussions on partnerships with global big pharma companies, so please trust us a little longer and wait; we will repay you with the best results."
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