[Featured Stock] Eoflow Rises Following Injunction Dismissal in Insulet Patent Lawsuit

IOFlow surged to the daily price limit for two consecutive days after news broke that the Unified Patent Court (UPC) in Europe dismissed the injunction request related to a patent lawsuit filed by competitor Insulet.

As of 9:43 AM on the 26th, IOFlow was trading at 7,520 KRW on the KOSDAQ market, up to the maximum price limit of 29.88% compared to the previous session. This marked the second consecutive day of hitting the daily price ceiling.

On the 25th, IOFlow announced that the UPC had dismissed Insulet's injunction request to ban the sale of IO-Patch. Insulet is a NASDAQ-listed company in the United States and a global leader with an extensive sales network in the wearable insulin pump sector.

Earlier, on July 3rd, Insulet filed an injunction request with the UPC, claiming patent infringement and seeking to ban the sale of IO-Patch products. The UPC Central Court in Milan dismissed Insulet's injunction request, citing doubts about the validity of Insulet's patent due to prior patents presented by IOFlow. The court also ruled that Insulet, which lost the case, must bear IOFlow's litigation costs.

On August 21st, IOFlow held a board meeting and resolved to proceed with a rights offering. Due to increasing uncertainties related to the patent lawsuit, amendments to the securities registration statement continued, and the subscription schedule was postponed. IOFlow has been incurring significant expenses due to Insulet's patent lawsuit. Legal fees amounted to 5.6 billion KRW last year and 19.8 billion KRW up to the third quarter of this year. It is expected that legal expenses will decrease once the first trial jury verdict is announced in the United States.