[Featured Stock] PharmGen Science Soars Over 9%... "Joint mRNA Vaccine Development Agreement with Access Bio and Ivy Pharma"
[Asia Economy Reporter Park Ji-hwan] PharmGen Science is experiencing a surge for the second consecutive day.
According to the Korea Exchange on the 24th, as of 10:31 AM, PharmGen Science is trading at 15,000 KRW, up 9.89% (1,350 KRW). Following the price limit increase the previous day, it is showing a sharp rise for two consecutive trading days.
The strong stock performance this week is interpreted as reflecting PharmGen Science's decision to jointly develop a biosimilar (biopharmaceutical generic) of an mRNA (messenger ribonucleic acid)-based COVID-19 vaccine.
On the 21st (local time in the United States), PharmGen Science announced that it attended the 'Korea-US Global Vaccine Partnership' hosted by the government in New York, USA, and signed an MOU for joint development and commercialization of a COVID-19 vaccine with its US subsidiary Access Bio and the US venture IVY Pharma.
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This MOU centers on PharmGen Science and Access Bio introducing the world's first mRNA COVID vaccine biosimilar candidate secured by IVY Pharma to jointly develop an mRNA COVID vaccine biosimilar.
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