[Market Focus] Pharos iBio Surges 13% on Disclosure of Preclinical Results for New Lung Cancer Drug Candidate

Pharos iBio showed strong gains in early trading on the 30th. This is believed to be due to the company’s disclosure of preclinical results for a new drug candidate for refractory lung cancer, which powerfully inhibits the proliferation of cancer cells that have developed resistance to existing lung cancer treatments.

As of 9:05 a.m. on this day, shares of Pharos iBio were trading at 7,660 won, up 930 won (13.82%) from the previous trading day.

Previously, on the 29th (local time), Pharos iBio announced the preclinical study results on the anticancer efficacy of its global innovative anticancer drug candidate 'PHI-501' for refractory lung cancer at the American Association for Cancer Research (AACR).

In particular, PHI-501 raised expectations by suggesting the possibility of becoming a new treatment option for patients with KRAS-mutant lung cancer who do not respond to existing therapies or who have developed resistance to them. PHI-501 is a refractory solid tumor treatment developed by Pharos iBio using its proprietary artificial intelligence (AI) platform, Chemiverse.

According to the published research results, PHI-501 effectively inhibited cancer cell growth with a very small amount in cancer cells with specific genetic mutations or high levels of certain proteins. It also demonstrated outstanding efficacy in several challenging cancer types, including KRAS-mutant lung cancer that does not respond to existing treatments.

Han Hyejung, CEO of Pharos iBio’s US subsidiary, said, “This announcement has significantly increased global interest in the therapeutic effects of PHI-501, which powerfully suppresses the proliferation of cancer cells in patients with refractory lung cancer. We will do our utmost to ensure that PHI-501 is rapidly advanced into clinical trials and enters overseas markets, so that this innovative new drug can quickly address the unmet needs in the treatment of refractory lung cancer.”