[Click eStock] "Shaperon, Outstanding Technology... Stock Revaluation Expected Despite Operating Loss"

Daishin Securities forecasted on the 19th that the stock price of the new drug bio company Shaperon could be re-rated. Despite operating losses due to research and development (R&D), there is ample potential for stock price appreciation considering the technological capabilities for atopic dermatitis treatments and others.

Shaperon is a bio-venture company originating from a Seoul National University campus venture, listed on KOSDAQ in 2022. Its business model includes inflammasome inhibitors, nanobody antibody technology, and licensing out. Major pipelines include NuGel, an atopic dermatitis treatment; NuCerin, an Alzheimer's treatment; and Papiliximab, a nanobody bispecific antibody immuno-oncology drug.

Han Song-hyeop, an analyst at Daishin Securities, analyzed the cause of undervaluation by stating, "As a new drug development company, Shaperon’s operating losses have expanded due to increased R&D expenses, causing the stock price to fall 40% compared to the initial public offering price."

However, the analyst evaluated, "Shaperon holds marketable major pipelines such as NuGel, as well as nanobody (antibody technology) and artificial intelligence (AI) new drug development platform technologies that enhance new drug development efficiency, increasing the possibility of stock price revaluation."

NuGel has completed Phase 2 clinical trials in Korea and is currently undergoing Phase 2 clinical trials in the United States. The technology transfer for domestic distribution rights has also been completed. NuCerin is currently in Phase 1 clinical trials in Korea. Papiliximab aims for technology transfer after completing preclinical trials.

The analyst predicted, "If short-term financial risks are well managed and achievements such as technology transfer contracts for key pipelines, clinical progress, and government project awards become visible, a revaluation of corporate value will occur."

He added, "Although operating losses continue, since the company was listed on KOSDAQ as a technology growth company in October 2022, it is unlikely to be designated as a management item based on individual operating losses until 2028 or based on sales until 2027."