"Pharmaceutical and biotech stocks that were left out during the bull market are showing signs of recovery. Hanmi Pharmaceutical, AlteoGen, and NeoImmuneTech have successively announced technology transfer deals, drawing renewed attention to their stock prices."
"While pharmaceuticals and biotech are key industries driving KOSDAQ alongside materials, components, and equipment (소부장), they were sidelined during the bull market due to various setbacks involving HLB, Peptron, and Kolon TissueGen. However, as recent capital flow imbalances have eased, the undervalued status of pharmaceutical and biotech companies has come into focus. Attention is now on whether this will lead to a stock price re-rating driven by actual earnings growth."
"On the 25th, Hanmi Pharmaceutical closed regular trading at 501,000 won, down 39,000 won (7.22%) from the previous day, marking its first decline in four consecutive trading sessions. The previous day, it hit the upper limit following news of a major L/O (license-out/technology export) deal."
"On this day, securities firms simultaneously revised their target prices for Hanmi Pharmaceutical upward. Korea Investment & Securities set the highest target price at 810,000 won, followed by NH Investment & Securities at 760,000 won, Mirae Asset Securities and Kiwoom Securities at 730,000 won each, DS Investment & Securities at 720,000 won, and Meritz Securities at 710,000 won."
"Sangsangin Securities researcher Lee Dal-mi stated, 'Hanmi Pharmaceutical has exported its technology for the obesity treatment drug UCN2 target candidate substance "HM17321" to Genentech. While there are concerns about Hengrui Hanmi's performance in the second half of the year, the GLP-1 single-acting agent epaglenatide is scheduled for launch by year-end, and R&D momentum remains.'"
"According to the pharmaceutical and biotech industry, KOSDAQ leader AlteoGen recently signed an exclusive license agreement with a global pharmaceutical company and HYBE for the development and commercialization of ALT-B4, a biologic drug subcutaneous injection (SC) formulation utilizing the company's Hybrozyme platform technology. NeoImmuneTech also signed a technology transfer agreement with U.S. biotech firm Tolerance Bio, transferring exclusive development and commercialization rights for NT-I7, an indication related to thymic dysfunction such as immune reconstitution in HIV-infected individuals, targeting North America and Europe."
"In the financial investment industry, there are expectations that D&D Pharmatech's L/O news could emerge as early as next month. Growth Research analyst Han Yong-hee stated, 'DD01 has achieved statistical significance across all three core indicators: "fibrosis improvement," "resolution of MASH (metabolic dysfunction-associated steatohepatitis)," and composite evaluation variables.' He added, 'Based on superior efficacy compared to competing drugs, a technology transfer exceeding the reference deal size of 2 billion to 5.2 billion dollars for existing MASH treatments is anticipated.'"
"As KOSDAQ fluctuates while trending upward, pharmaceutical and biotech stocks are gaining momentum. Amid easing capital flow imbalances, the undervalued status of pharmaceutical and biotech companies appears to be stimulating investor sentiment."
"Eugene Investment & Securities researcher Heo Jae-hwan stated, 'The KOSDAQ market no longer appears lethargic, with the pharmaceutical and biotech sector at its core.' He added, 'Interest is growing in previously sidelined sectors including KOSDAQ, which can be analyzed as a kind of counterreaction to capital movement.'"
"Previously, the pharmaceutical and biotech industry suffered from successive setbacks. HLB received a third CRL (Complete Response Letter) from the U.S. FDA for its combination therapy of liver cancer drugs 'Riboceranib' and 'Camrelizumab.' It also faced manufacturing and quality control issues at China's Xixi Pharmaceutical's active pharmaceutical ingredient production facility. Peptron encountered concerns that its long-acting drug delivery platform 'SmartDepo,' jointly developed with Eli Lilly, was not included in the obesity treatment drug 'Mounjaro' (generic name tirzepatide). Kolon TissueGen reported that the first results of its Phase 3 clinical trial in the U.S. for the osteoarthritis cell gene therapy drug 'TG-C (formerly Inbosa)' fell short of market expectations."
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