[Click eStock] "FutureChem, Leading Radiopharmaceutical Company... Undervalued Appeal"

Hanyang Securities analyzed on the 22nd that FutureChem is one of the leading companies in radioactive pharmaceuticals and has undervaluation appeal compared to similar companies. No investment opinion or target price was presented.

Byungyong Oh, a researcher at Hanyang Securities, said, "One of the hottest fields in the global pharmaceutical market recently is the radioactive pharmaceutical (RPT) anticancer drug sector," adding, "Radioactive pharmaceuticals are showing dramatic anticancer effects in prostate cancer and neuroendocrine cancer." He further stated, "Companies developing radioactive pharmaceuticals are receiving tremendous value in the market."

He emphasized, "FutureChem is one of the leading companies in radioactive pharmaceuticals and is currently conducting Phase 2 clinical trials for a prostate cancer treatment. While similar companies are being sold at trillion-won valuations, FutureChem’s market capitalization is only 207.5 billion won, showing undervaluation appeal."

Researcher Oh stressed the need to focus on FutureChem’s core new drug candidate, the castration-resistant prostate cancer (mCRPC) treatment ‘FC705’. mCRPC refers to patients with advanced prostate cancer who are inoperable and have failed hormone therapy. It is a cancer with an expected survival of less than two years and has not seen improved survival rates with any previous treatments.

He emphasized, "The Phase 1 clinical trial results of ‘FC705’ targeting mCRPC were very excellent," adding, "The objective response rate (ORR) in patients administered the effective dose of 100?150 mCi was an impressive 64.3%, and the disease control rate (DCR) was a remarkable 100%." He continued, "This means that in the hard-to-treat mCRPC, 64.3% of patients experienced a tumor reduction of more than 30%. It is an outstanding therapeutic effect."

Researcher Oh said, "The domestic Phase 2 clinical trial results are expected in the fourth quarter of this year," emphasizing, "If the effect is similar to that of Phase 1, FutureChem’s value could be completely re-evaluated."

He also anticipated the possibility of technology export. He explained, "Currently, negotiations are underway for the technology transfer of ‘FC705’ in the Chinese region," adding, "Depending on the contract amount in China, the value of ‘FC705’ is expected to be re-evaluated."