[Featured Stock] Alteogen Rises on Success of SC Phase 3 Clinical Trial

KOSDAQ leader Alteogen is showing strong performance in early trading following the news of the successful Phase 3 clinical trial of Keytruda SC (subcutaneous injection), co-developed with Merck.

As of 10:39 AM on the 20th, Alteogen is trading at 386,000 KRW on the KOSDAQ market, up 10,000 KRW (2.66%) from the previous close.

The stock, which started in the 400,000 KRW range, surged to an intraday high of 404,500 KRW but retreated back to the 380,000 KRW range due to profit-taking during the session.

The rise in stock price is interpreted as a response to the evaluation that Keytruda SC, an immuno-oncology drug utilizing Alteogen’s platform technology, showed successful data in the Phase 3 clinical trial.

Minyong Eom, a researcher at Shinhan Investment Corp., explained in an Alteogen report published that day, "The top-line results of the successful Phase 3 clinical trial for Keytruda SC were posted on Merck’s website," adding, "Both the primary endpoint, pharmacokinetics (PK), and the secondary endpoints, efficacy and safety, were fully met."

Researcher Eom also stated, "Merck has set a target to achieve a 50% conversion rate to the Keytruda SC formulation by 2028, and the conversion rate is expected to continue increasing until 2030, potentially generating annual sales in the range of 20 to 30 trillion KRW." He further analyzed, "Assuming a sales royalty rate of around 4-5%, annual revenue recognition could exceed 1 trillion KRW."