[Featured Stock] HK Innoen, Rising Contribution of Export Revenue Performance 'Attention'

HK Innoen's stock price is on the rise. Expectations of increased contribution from export performance appear to be influencing the stock price.

As of 10:51 AM on the 23rd, HK Innoen is trading at 39,400 KRW, up 4.23% from the previous day.

HK Innoen recently signed a contract to export finished products of its gastroesophageal reflux disease drug, K-CAB, to the Middle East and North Africa region with Tabuk Pharmaceuticals, a local pharmaceutical company in Saudi Arabia.

Researcher Kwon Hae-soon from Eugene Investment & Securities stated, "Above all, the increased contribution of exports to performance is important," adding, "For K-CAB, after confirming the results of the Phase 3 clinical trial in the United States in the second half of this year, we plan to apply for new drug approval from the U.S. Food and Drug Administration (FDA) in 2025, followed by launching in the U.S. market."

He continued, "The target market size for K-CAB in the U.S. is expected to exceed 3 billion dollars," and added, "Furthermore, as export sales to China also contribute to performance, a premium will be added to investment indicators."