[Click eStock] "CrystalGenomics, Stock Price Upside Momentum Expected Until Year-End"

[Asia Economy Reporter Hyunseok Yoo] Sangsangin Securities analyzed on the 14th that CrystalGenomics is expected to have stock price 상승 momentum until the end of the year. No investment opinion or target price was presented.

CrystalGenomics is a new drug development company focusing on anticancer drugs as its main product. It also has experience in developing new drugs (Aselex, treatment for osteoarthritis). Currently, it has various new drug pipelines, but it aims for global new drug development of its self-developed anticancer drug Ivaltinostart.

Sangsangin Securities explained that attention should be focused on various events of CrystalGenomics scheduled for November to December. Researcher Tae-gi Ha of Sangsangin Securities said, "The designation of the pancreatic cancer treatment drug (combination clinical trial) under the domestic expedited review system will be decided in late November," adding, "The application for designation under the expedited review system was submitted at the end of last month. If designated, the conditional product approval review period will be shortened."

He said, "There will also be an interim presentation of the phase 1 clinical trial of the hematologic cancer treatment CG-806 (FLT3/BTK multi-inhibitor)," and explained, "The interim results of phase 1 will be presented at the American Society of Hematology (ASH) in the first week of December 2020 (at Aptose)." He added, "They are pushing for approval and administration of the COVID-19 treatment drug phase 2 clinical trial in the US within this year, and are also reviewing patent applications related to this. Unlike drug repositioning, it is being developed as an original new drug candidate substance, which differs from other domestic pharmaceutical companies."

In particular, he expected these schedules to lead to stock price 상승 momentum. He evaluated, "Although it is difficult to quantify the exact value because the clinical pipeline is in the early stage, considering the market capitalization of the US biotech company Aptose (600 billion to 700 billion KRW) and these schedules, the value of CrystalGenomics' new drug pipeline is increasing, and the stock price 상승 momentum will remain valid until the end of the year."

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