[Special Stock] JW Jungoe Pharmaceutical Rises on News of COVID-19 Treatment Development
[Asia Economy Reporter Minji Lee] JW Pharmaceutical is on the rise following news that it is developing a treatment for the novel coronavirus infection (COVID-19).
At 10:02 a.m. on the 17th, JW Pharmaceutical was trading at 42,600 KRW, up 3.65% from the previous session. During the session, the stock surged as much as 11% to 45,750 KRW.
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JW Pharmaceutical announced that it has filed a patent for the Wnt-targeting anticancer agent CWP291 as a "composition for COVID-19 treatment." CWP291 is an innovative drug candidate developed as a targeted anticancer agent that inhibits the Wnt/β-catenin signaling pathway, which is involved in the growth of cancer cells and cancer stem cells. It is being developed for various cancer types including acute myeloid leukemia, multiple myeloma, and gastric cancer.
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