[Featured Stock] Engchem Life Sciences Down After Phase 2 Clinical Trial Failure of COVID-19 Treatment Candidate

[Asia Economy Reporter Minji Lee] Enzychem Lifesciences is experiencing a sharp decline following the failure of its COVID-19 treatment candidate in Phase 2 clinical trials.

As of 10:15 AM on the 30th, Enzychem Lifesciences is trading at 81,000 KRW, down 9.9% compared to the previous trading day.

This drop is attributed to the announcement on the 27th that no statistically significant difference was found between the treatment groups in the probability (%) of mild pneumonia patients who received at least one dose of the investigational drug progressing to severe pneumonia requiring oxygen therapy or acute respiratory distress syndrome (ARDS) within 14 days.

The company stated, “Due to the nature of the clinical trial involving a limited small number of participants and the trial design which required immediate discontinuation of the drug upon adverse events such as symptom worsening, the efficacy of the investigational drug could not be properly evaluated. Although we intended to assess the efficacy by administering the investigational drug orally once daily for 14 days, there were limitations in evaluating efficacy because of mid-trial dropouts and treatment discontinuations due to symptom worsening or adverse reactions (average treatment duration: 3.6 days).”

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