[Featured Stock] iGene, Stock Price Level Comfortable for Korea's Moderna... Expectation to Replace Existing Vaccines

[Asia Economy Reporter Hyunseok Yoo] IGEN is showing strong performance. The success expectations for the mRNA COVID-19 vaccine (EG-COVID) developed by IGEN appear to be influencing the stock price.

As of 9:15 AM on the 17th, IGEN was trading at 16,400 KRW, up 14.29% (2,050 KRW) compared to the previous trading day.

Jinhong Kook, a researcher at Korea Investment & Securities, stated, "Since the preclinical efficacy evaluation began in April last year, the neutralizing antibody titers have shown results similar to Moderna's COVID-19 vaccine preclinical outcomes," and added, "IGEN has completed domestic patent applications for the mRNA delivery system and the EG-COVID composition."

He continued, "Phase 1 clinical trials are scheduled to begin in the third quarter of this year," and explained, "Unlike Moderna and Pfizer's mRNA vaccines, which require storage below freezing, EG-COVID is being developed in a form that can be stored at room temperature."

Researcher Jin emphasized, "The company expects that the IGEN vaccine can replace Moderna and Pfizer vaccines," and noted, "The current market capitalization, which is under 200 billion KRW, is an affordable level for IGEN, which aspires to be Korea's Moderna."

He expressed hope that "as mRNA vaccine development gains momentum, the corporate value will be re-evaluated," and predicted, "With the commercialization of mRNA accelerating due to COVID-19, IGEN's mRNA vaccine development will also gain momentum with government support."

Furthermore, he commented, "Since mRNA vaccines are a next-generation vaccine platform that allows flexible and rapid development, IGEN will be able to expand its development scope to cancer vaccines in the future."

This content was produced with the assistance of AI translation services.