[Featured Stock] Alteogen Rises on Patent Dispute Concerns Resolution... New High

Alteogen's stock is showing strong performance as it resolves patent dispute risks by signing a technology transfer agreement worth approximately 2 trillion KRW with AstraZeneca. The stock hit a 52-week high during trading.

As of 9:15 AM on the 18th, Alteogen is trading at 446,000 KRW, up 6,500 KRW (1.48%) from the previous day. During the session, it rose to 459,500 KRW, setting a new 52-week high.

On the previous day, Alteogen announced that it had signed a contract to export the core technology of hyaluronidase, 'ALT-B4,' to MedImmune for a total of 1.3 billion USD (approximately 1.9 trillion KRW). MedImmune is AstraZeneca's global bio research and development subsidiary.

This contract is also seen as resolving the patent dispute issue. Minyong Eom, a researcher at Shinhan Investment Corp., said, "A contract worth 2 trillion KRW was signed with AstraZeneca for the development of three subcutaneous (SC) injections, and the contract size and upfront payment are the largest ever compared to Merck's Keytruda SC sales. Such contract terms would have been impossible if uncertainties due to the Halozyme patent dispute had existed. This announcement completely resolves the patent dispute issue with Halozyme."