[Special Stock] Hanall Biopharma Rises on News of Acquiring 3.2 Billion KRW Worth of Treasury Shares

Pharmaceutical company HanAll Biopharma is showing strong performance on the 25th. It is interpreted that buying pressure surged following the news of acquiring treasury shares worth 3.2 billion KRW.

As of 3:05 PM on the same day, HanAll Biopharma's stock price recorded 30,000 KRW, up 4.53% compared to the previous close. The price started at 29,300 KRW and gradually increased its gains.

HanAll Biopharma announced after the market closed the previous day that it decided to acquire treasury shares worth a total of 3.2 billion KRW. The shares to be acquired amount to 110,000 shares, which corresponds to approximately 0.21% of the total issued shares. The company plans to acquire the treasury shares through on-market purchases on the Korea Exchange.

The company stated that this treasury share buyback was carried out to protect shareholder value following a decline in the stock price despite the autoimmune disease treatment HL161 (Batoclimab) demonstrating excellent efficacy in the Phase 3 clinical trial for myasthenia gravis. The acquired treasury shares will be used for employee compensation purposes.

Based on this clinical data, HanAll Biopharma plans to apply for product approval in Japan and commercialize Batoclimab within Japan.