[Click eStock] "HK Innoen, Rising Expectations for New Drug 'K-CAB' Technology Transfer"

[Asia Economy Reporter Hyunseok Yoo] Hanyang Securities forecasted on the 10th that a technology transfer of the new drug for gastroesophageal reflux disease, 'K-CAB (Tegoprazan)', by HK inno.N is expected. No investment opinion or target price was provided.

Byungyong Oh, a researcher at Hanyang Securities, said, "'K-CAB' is currently in the final stage of Phase 1 clinical trials in the United States, and topline results are expected to be announced between this month and January next year," adding, "'K-CAB' has been in negotiations for technology licensing (L/O) in the U.S. region with pharmaceutical companies in the U.S. for a long time." He continued, "Of course, it depends on the clinical results, but now that clinical results targeting Caucasians, which have been awaited, have been derived, the technology transfer is highly anticipated."

Researcher Oh expected that K-CAB could achieve technology export worth several hundred billion won. He emphasized, "'K-CAB' is a verified P-CAB new drug that already received approval from the Ministry of Food and Drug Safety in 2018 and is expected to be prescribed over 100 billion won this year alone, with numerous investigator-initiated clinical trials ongoing," and added, "If the technology transfer of 'K-CAB' in the U.S. region is successful, it can be expected to be a deal much larger than 'Fexuprazan' at minimum."

He also expected a possible rise in stock price. He said, "The recent significant decline in stock price over the past month was simply due to supply and demand issues," explaining, "Since the 9th of last month, 1.98 million shares, accounting for about 7% of the total shares under lock-up, were released into the market, and now, after a month, most of the overhang seems to have been absorbed."

He explained, "Currently, the stock price is lower than usual, and at the end of the year, events such as the U.S. technology transfer of 'K-CAB', the announcement of U.S. Phase 1 clinical trial results, and the 'K-CAB' China approval are concentrated," adding, "This is a situation where a new drug that sells 100 billion won in Korea within three years of launch is on the verge of entering the U.S. and Chinese markets, which are tens of times larger than Korea."

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