[Featured Stock] Encell, 160% Surge on First Day of KOSDAQ Listing

Encell is rising more than 160% compared to the public offering price on its first day of listing on KOSDAQ.

As of 10:02 a.m. on the 23rd, Encell was trading at 40,350 won, up 25,050 won (163.73%) from the public offering price of 15,300 won.

Founded in 2018 as a faculty startup by Professor Jang Jong-wook of Samsung Seoul Hospital, Encell operates ▲ CGT CDMO business ▲ new drug development business based on the world's first early-stage allogeneic mesenchymal stem cell therapy (EN001). It applies the 'multi-product CGT therapeutic development GMP platform core technology' to the cell or viral vector proprietary technology of client companies in the research stage to realize advanced biopharmaceuticals that can be administered to humans.

Encell holds the largest track record in Korea, conducting 33 projects with 17 companies based on its multi-product CGT development GMP platform core technology. It is also developing EN001, a next-generation allogeneic mesenchymal stem cell therapy that overcomes the limitations of existing mesenchymal stem cell therapies.

Encell confirmed the public offering price at the top of the desired price band of 13,600 to 15,300 won, at 15,300 won, through a demand forecast for institutional investors conducted from the 2nd to the 8th of this month. As a result of the public subscription for general investors held over two days on the 12th and 13th of the same month, a competition rate of 928 to 1 was recorded. The total subscription volume was 363,522,850 shares, and the subscription deposit amounted to 2.7809 trillion won.