[Market Focus] Vivozon Pharmaceutical Surges Over 4% on U.S. Clinical Trial Approval for New Analgesic Candidate

Shares of Vivozon Pharmaceutical surged by over 4% following news that a new analgesic drug candidate has received approval for clinical trials in the United States.

As of 9:59 a.m. on January 29, Vivozon Pharmaceutical was trading at 5,700 won, up 4.78% (260 won) from the previous day.

On this day, Vivozon Pharmaceutical announced that its affiliate, Vivozon, had received Investigational New Drug (IND) approval from the U.S. Food and Drug Administration (FDA) for the drug candidate 'VVZ-2471.' VVZ-2471 is a first-in-class, non-narcotic analgesic candidate with a dual mechanism of action that simultaneously modulates the serotonin 2A receptor (5-HT2A) and the metabotropic glutamate receptor 5 (mGluR5). This innovative drug candidate is based on a new approach targeting the reward circuit and craving regulation in the central nervous system.

This IND approval is for a clinical trial conducted as part of an opioid use disorder (OUD) research project supported by the National Institute on Drug Abuse (NIDA), under the National Institutes of Health (NIH) in the United States. The primary objective of the Phase 1 clinical trial is to evaluate the safety and tolerability of repeated dosing of VVZ-2471.