Jongkundang is showing strength. This is interpreted as being influenced by the news that its Israeli partner CanFight has applied for Orphan Drug Designation (ODD) for Namodenoson, for which Jongkundang holds the distribution rights.
As of 9:57 AM on the 12th, Jongkundang is trading at 110,300 won, up 3.27% from the previous day.
According to industry sources, CanFight Biopharma, Jongkundang's Israeli partner, has reportedly applied to the U.S. Food and Drug Administration (FDA) for Orphan Drug Designation (ODD) for Namodenoson. If designated as an orphan drug by the FDA, various benefits can be obtained.
Meanwhile, Jongkundang signed an exclusive domestic distribution rights contract with CanFight in 2016 for Namodenoson, a new drug for liver cancer and MASH treatment. In 2020, it also acquired domestic patent rights.
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