[Featured Stock] Did It Rise Too Much?… Abion Plummets Over 10%

[Asia Economy Reporter Ji Yeon-jin] Abion, a cancer drug development company, is showing a sharp decline during trading on the 16th.

As of 10:16 AM on the day, Abion is trading at 10,700 KRW (1,250 KRW down), down 10.46% compared to the previous day on the KOSDAQ market.

The company announced on the 17th that it confirmed both excellent safety and efficacy in the dose-escalation trial results of its self-developed non-small cell lung cancer treatment ‘ABN401,’ and after hitting the upper price limit the next day, it showed a strong trend for four consecutive days.

The stock price had continued to weaken since the beginning of the year, hitting a 52-week low of 6,970 KRW on the 13th of this month, then surged sharply, rising 67% until the 25th.

Today's weakness appears to be due to a flood of profit-taking sell orders. Foreigners and institutions have been net sellers for two consecutive days since the previous day.

ABN401 is a solid tumor anticancer drug targeting the hepatocyte growth factor receptor (c-MET). It is conducting a global seamless clinical phase 1 and 2 trial, integrating phase 1 and phase 2 clinical trials.

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