[Featured Stock] InscoBio Hits New High... NYSE Listing Imminent Ahead of FDA Phase 3 Clinical Trial

Completed Procedures for NYSE Listing
Plan to Enter FDA Phase 3 Clinical Trials After Listing Completion
Plans to Expand Additional New Drug Research and Development

Inscovery recorded a 52-week high. It appears to have been influenced by news that it is the first company in the domestic bio industry conducting Phase 3 clinical trials with the U.S. Food and Drug Administration (FDA) to pursue listing on the New York Stock Exchange (NYSE).

As of 1:30 PM on the 4th, Inscovery was trading at 1,647 KRW, up 28.97% (370 KRW) from the previous trading day. This surpassed the previous 52-week high of 1,480 KRW recorded in January. Breaking through the 1,500 KRW barrier, Inscovery's stock price is soaring near the upper limit.

Before the market opened that day, Inscovery announced that its subsidiary Apimez's U.S. branch (ApimezUS) is preparing for an NYSE listing. ApimezUS is proceeding with the listing to secure funds for the FDA Phase 3 trial of 'Apitox,' a candidate drug for multiple sclerosis (MS). Last month, the registration statement (S-1) was made public on the Securities and Exchange Commission (SEC) electronic disclosure system, completing the procedures for listing.

Apitox, currently undergoing Phase 3 clinical trials, is ApimezUS's main pipeline. It is already marketed domestically as an osteoarthritis treatment under the name 'Apitoxin.' The company aims for annual sales of 10 billion KRW this year. The company plans to fully commence the FDA Phase 3 trial once the listing is completed and expand new drug research and development based on additional natural substances. Until now, no domestic bio companies have pursued listing after completing Phase 1 and 2 trials and before starting Phase 3.