[Market Focus] G2GBio Jumps 13% on News of Joint Research Agreement with Global Big Pharma

G2GBio is showing strong performance in early trading.

As of 9:04 a.m. on September 30, G2GBio was trading at 235,500 won, up 13.22% (27,500 won) from the previous day.

Investor sentiment appears to have been boosted by news that the company has signed a joint research agreement with a global pharmaceutical company based in Europe for the development of long-acting injectable drugs.

Previously, G2GBio announced that it would collaborate on developing formulations that recreate active pharmaceutical ingredients (APIs) provided by the global pharmaceutical company into injectable drugs, utilizing its long-acting injectable platform, InnoLAMP. InnoLAMP is known as a technology that overcomes the limitations of microsphere-based formulations, enabling stable delivery and efficient absorption of high-dose drugs.

The contract period is approximately 16 months, and the counterparty remains undisclosed. Regarding the contract amount, only the information that it is "at least 10% of the previous fiscal year's sales" has been released. G2GBio's sales last year were approximately 770 million won.