Helixmith Rides Meme Craze... Cryptocurrency-Weary Investors Flock In

Amid a Sluggish Cryptocurrency Market, Investors Seek 'Meme' Stocks
Following Heumseulla, Daehan Electric Wire and Doosan Heavy Industries Rally
Helixmith Gains Strength on Notable Q1 Clinical Trial Results

[Asia Economy Reporter Hyungsoo Park] As the cryptocurrency market slows down, stocks that generate high short-term returns are frequently appearing in the domestic stock market. This is interpreted as a result of an increasing number of investors seeking highly volatile 'meme stocks.' Following HMM, Daehan Electric Wire and Doosan Heavy Industries experienced rapid rallying before taking a breather, while Helixmith is gaining attention by delivering good news.

Helixmith is trading at 36,800 KRW as of 11:16 AM on the 8th, up 21.05% compared to the previous day.

Helixmith announced that its first U.S. Phase 3 clinical trial (3-1 phase, 3-1b phase) of Engensis (VM202) for diabetic peripheral neuropathy (DPN) was selected as a 'Notable Clinical Result of Q1 2021' by the international academic journal Nature Biotechnology.

In the past, Helixmith’s stock price was heavily influenced by Engensis. In September 2019, when expectations for Engensis were high, Helixmith’s stock price exceeded 150,000 KRW. However, the stock price plummeted after the clinical results fell short of expectations.

Nature Biotechnology selected a total of 10 papers. The company stated that many of the achievements were published in world-renowned medical journals such as The New England Journal of Medicine and The Lancet.

Helixmith’s DPN study results of Engensis, published in January in the international medical journal Clinical and Translational Science, were selected. This was the world’s first Phase 3 clinical trial of gene therapy for pain. In the paper, clinical researchers reported the high safety of Engensis and especially excellent efficacy in the 3-1b phase. It was explained that the treatment effect was even better in patients who could not use existing drugs. Furthermore, the drug’s effect lasted for eight months after the drug disappeared, suggesting that Engensis can fundamentally treat DPN.

Nature Biotechnology is an international academic journal in the field of biotechnology published monthly by Nature. Every quarter, it selects and announces notable cases such as new drug approvals and clinical trial result announcements.

Bio stocks are considered to have volatility comparable to cryptocurrencies. In the past, stocks like SillaJen and HL Biopharma surged, sparking a bio stock investment boom in the domestic stock market. As cryptocurrencies slow down, some investors are showing renewed interest in the stock market. Investors who have experienced cryptocurrency volatility sometimes increase volatility by investing in rising stocks. Investors who do not regard annual returns of 10-20% as high are now turning to investments aiming for 10 to 20 times returns in a short period. This is why many flock to the coin market and highly volatile 'meme stocks.' Not only domestically but also in the U.S. stock market, domestic investors have shown interest in meme stocks by investing in AMC, the largest theater chain in the U.S.

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