[Special Stock] Onconic Therapeutics Rises on Additional Application for 'Jakyubojeong' Indication Approval

Onconic Therapeutics is showing strong performance. This is attributed to the news of the successful Phase 3 clinical trial for the second indication, gastric ulcer, of the P-CAB (potassium-competitive acid blocker) mechanism gastroesophageal reflux disease treatment 'Jacubojeong' (active ingredient: Zastaprazan Citrate).

As of 10:21 AM on the 24th, Onconic Therapeutics was trading at 15,780 KRW, up 2,070 KRW (15.10%) from the previous trading day.

Onconic Therapeutics announced that it has begun the approval process for adding a new indication after successfully completing the Phase 3 clinical trial for gastric ulcer, the second indication of the P-CAB mechanism gastroesophageal reflux disease treatment 'Jacubojeong'.

This comes just nine months after receiving approval as a new drug for erosive gastroesophageal reflux disease in April last year, and only about three months after its domestic launch in October. Jacubojeong works by reversibly blocking the proton pump that secretes gastric acid through the P-CAB mechanism, allowing administration regardless of meals, with rapid onset of action and strong durability as its advantages.

If the additional indication review proceeds smoothly, the company expects to obtain approval within the first half of this year. Onconic Therapeutics plans to accelerate its entry into not only the domestic market but also the global market through the rapid expansion of Jacubojeong's indications.

Shin Jong-gil, Executive Director and Chief Operating Officer (COO) and Chief Financial Officer (CFO) of Onconic Therapeutics, said, "Achieving success in a new Phase 3 clinical trial and pursuing approval for a new indication just three months after the new drug launch demonstrates the excellent therapeutic efficacy and safety of Jacubojeong as a new drug. We will focus on follow-up new drug research and development based on the stable revenue from Jacubojeong to rapidly increase the company's value."