Voronoi is showing strength. It appears that securities firms' analysis emphasizing the need to pay attention to the VRN07 results, which raised expectations for the pipeline VRN11, has had an impact.
As of 10:38 AM on the 16th, Voronoi was trading at 38,250 KRW, up 1,750 KRW (4.79%) compared to the previous trading day.
Yuanta Securities set Voronoi's target price at 85,000 KRW, reflecting both paid-in and free capital increases.
Researcher Hyunsoo Ha of Yuanta Securities stated, “At ESMO, clinical results of ORIC-114 (VRN07) were disclosed, with most subjects having EGFR exon20 and HER2 exon20 mutated NSCLC. The median number of prior treatment lines before the clinical trial was 2, indicating that most patients had failed two or more treatment regimens.”
Grade 3 or higher adverse events occurred in 19% of cases, with no grade 4 adverse events reported. Researcher Ha explained, “We confirmed superior safety compared to competing drugs. Additionally, all severe adverse events were EGFR-related, confirming high selectivity for EGFR TK.”
He evaluated that the successful clinical progress of VRN07 could raise expectations for the newly initiated VRN11 clinical trial.
Researcher Hyunsoo Ha said, “The phase 1 clinical trial of VRN11 received approval from the Ministry of Food and Drug Safety at the end of October, and IRB approval within hospitals is expected in November. VRN11 is a global clinical trial conducted in Korea, Taiwan, and the United States, targeting a total of six dose cohorts.”
He added, “Considering the high therapeutic index confirmed in animal studies of VRN11, tumor suppression effects can be expected even at the initial dosing levels. VRN11 shows significantly higher selectivity for mutations within EGFR compared to VRN07 and has demonstrated excellent results in BBB permeability.”
He emphasized, “Although the company's stock price surged due to themes like AI drug development and then fell more than 50% from its peak, the value of drug development companies ultimately needs to be assessed based on the value of their pipelines.”
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