[Special Stock] Genexine Soars on Supply of COVID-19 Vaccine Candidate Material to Indonesia
[Asia Economy Reporter Song Hwajeong] Genexine's stock surged on news of supplying COVID-19 vaccine candidate material to Indonesia.
As of 9:45 AM on the 27th, Genexine was trading at 128,700 KRW, up 15,800 KRW (13.88%) from the previous day.
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On this day, Genexine announced that it had agreed to supply 10 million doses of the COVID-19 vaccine candidate 'GX-19N' to Indonesia's Kalbe Farma. Kalbe Farma will purchase at least 10 million doses of the DNA vaccine from Genexine to sell in Indonesia and will pay a portion of the vaccine sales revenue as royalties to Genexine. The two companies submitted an Investigational New Drug (IND) application for clinical trials phase 2/3 to Indonesia's Food and Drug Authority (BPOM) last month and are awaiting approval. Genexine plans to produce the vaccine at its production facility in Korea before supplying it.
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