Onconic Therapeutics' stock price is rebounding. The news that the company has succeeded in developing a new formulation of Jacubo, a P-CAB (potassium-competitive acid blocker) class drug and South Korea's 37th new drug, is apparently boosting its market competitiveness and influencing the stock price.
Onconic Therapeutics has successfully completed clinical trials proving the research and bioequivalence of Jacubo (active ingredient Zastaprazan) orally disintegrating tablets. If Onconic Therapeutics obtains approval, it will become the world's second company to have an orally disintegrating tablet among P-CAB new drugs. The first is HK Inno.N's K-CAB orally disintegrating tablet, which is known to have high market demand and a significant sales proportion. HK Inno.N's market capitalization exceeds 1 trillion KRW.
As of 2:53 PM on the 2nd, Onconic Therapeutics is trading at 27,300 KRW, up 8.12% from the previous day.
Orally disintegrating tablets can be taken by dissolving in the mouth without water, making them an alternative formulation for patients who have difficulty swallowing pills and those who need to take medication urgently while on the go. Jacubo is currently also conducting clinical trials for an injectable formulation in China. With the success of the orally disintegrating tablet clinical trial, it is expected that securing various formulations to meet diverse unmet medical needs locally will further accelerate its entry into the global market.
Jacubo successfully completed Phase 3 clinical trials in January for the indication of treating gastric ulcers and is currently undergoing additional approval review. With the expansion to the orally disintegrating tablet formulation and additional indications, Jacubo's domestic and international market value is expected to be maximized.
An Onconic Therapeutics representative stated, "By successfully obtaining approval for the 37th new drug Jacubo, we have demonstrated differentiated competitiveness by continuously achieving results, including the recent clinical success of the new orally disintegrating tablet formulation, supported by comprehensive new drug development capabilities and experience necessary for actual approval success such as late-stage clinical trials, CMC, and non-clinical studies, following the gastric ulcer indication."
Onconic Therapeutics is focusing its R&D capabilities on strengthening Jacubo's global competitiveness through proven direct new drug approval technology and financial resources, as well as aiming for global success of its next-generation synthetic lethal dual-target anticancer drug candidate ‘Nesuparib’ and subsequent research pipelines.
An Onconic Therapeutics representative said, "Having achieved the goal of obtaining approval for our own new drug, which all bio new drug companies aim for, we will devote ourselves to follow-up research and development and grow into a global new drug company."
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