[Featured Stock] Alteogen Surges Consecutively... Hits New 52-Week High Again

Alteogen is showing strong performance. Since the contract announcement with MSD on the 22nd of last month, it has been on a continuous upward trend, reaching a 52-week high.

As of 3:17 PM on the 5th, Alteogen is trading at 192,000 KRW, up 14.83% compared to the previous day.

Earlier, on the 22nd of last month, Alteogen announced that it had amended the license agreement signed with MSD in 2020, granting MSD exclusive worldwide rights to the technology that converts intravenous formulation biopharmaceuticals into subcutaneous injection formulations.

In June 2020, Alteogen disclosed that it had signed a non-exclusive license agreement to transfer its proprietary human hyaluronidase enzyme (ALT-B4) technology to one of the top 10 global pharmaceutical companies. The contract amount was approximately 19.4 billion KRW, but the contracting party was not disclosed due to trade secrets.

Following the contract amendment, Alteogen revealed the previously undisclosed contracting party and the development item. Alteogen stated that it will supply ALT-B4 to MSD to develop and commercialize a subcutaneous formulation of the immuno-oncology drug Keytruda (generic name pembrolizumab).

Alteogen will receive an additional contract payment of approximately 26.7 billion KRW, and will also receive additional milestone payments (stage-based royalties) and royalties based on net sales upon MSD’s product approval and sales.