Samchundang Pharmaceutical Sells Treasury Shares to Secure Global Clinical and Oral GLP-1 Production Facilities

Samchundang Pharmaceutical announced on the 18th through a public disclosure that it has decided to dispose of 500,000 treasury shares.

A company representative stated that the reason for the disposal is, "We decided to sell treasury shares to cover the costs of global clinical trials for the high-dose (HD) biosimilar of Eylea and oral semaglutide, as well as to secure production facilities for oral semaglutide."

The proceeds from the sale will mainly be invested in the clinical trials of the high-dose Eylea biosimilar. According to the company, this decision was driven by requests from partners to expedite additional or new contracts for the high-dose following the completion of the low-dose Eylea development and global approval over the past three years through self-funding and external financing, leading to an accelerated clinical schedule.

A Samchundang Pharmaceutical representative added, "The clinical trial for oral semaglutide is planned to be completed by the first quarter of next year at the latest, with a global approval application scheduled for the second quarter," and "We will begin securing facilities to produce oral semaglutide products starting from the third quarter of this year."

Samchundang Pharmaceutical is currently in the process of obtaining global approval for the low-dose Eylea biosimilar and is on the verge of commencing clinical trials for products that convert injectable treatments for diabetes and obesity (insulin and GLP-1) into oral formulations.