[Featured Stock] Kwang Dong Pharmaceutical Hits Upper Limit on 'Presbyopia Treatment FDA Approval'

Kwang Dong Pharmaceutical's share price has been rising for two consecutive days on news that a treatment for which it holds exclusive distribution rights in Korea has received approval from the U.S. Food and Drug Administration (FDA).

As of 9:10 a.m. on the 20th, Kwang Dong Pharmaceutical was trading at 10,400 won, up 30.00% (2,400 won) from the previous trading day.

The previous day as well, Kwang Dong Pharmaceutical surged 29.87% from the previous session to close at the upper price limit of 8,000 won.

Earlier, Kwang Dong Pharmaceutical announced that Uvegi, a presbyopia treatment for which it holds exclusive distribution rights in Korea, had received FDA approval.

Uvegi is a new drug developed by global biotech company Tenpoint Therapeutics, and in January 2024 Kwang Dong Pharmaceutical signed an exclusive license agreement with Hong Kong pharmaceutical company Zaoker, which holds the rights for the Asian region to this drug.