Paxel Bio experienced a sharp decline following the news of the clinical trial application rejection, hitting a 52-week intraday low.
As of 10:16 AM on the 24th, Paxel Bio was trading at 15,670 KRW, down 1,530 KRW (8.90%) from the previous day. During the session, the price dropped to 14,350 KRW, marking a 52-week intraday low.
On the previous day, Paxel Bio announced that the clinical trial application for a Phase 2a study combining natural killer cells and ‘mFOLFIRINOX’ in patients with advanced pancreatic cancer was rejected. The company stated, "The reason for rejection was insufficient verification of efficacy tests reflecting the mechanism of action of the investigational drug and the characteristics of pancreatic cancer, as well as the effectiveness of dosage and administration." They added, "We plan to supplement the reasons and reapply to the Ministry of Food and Drug Safety to obtain approval for this clinical trial plan with expanded indications."
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