[Special Stock] Abclon Surges 8% on 22 Billion Won Investment and Clinical Trial Expectations
[Asia Economy Reporter Lee Seon-ae] Appclon’s stock price is strong on the 27th. This is interpreted as a result of the news of investment attraction.
On the morning of the day, Appclon is trading at 12,050 KRW, up 8.56% compared to the previous trading day. During the session, it rose to 12,350 KRW.
The day before, Appclon announced that it had decided to issue convertible preferred shares and privately placed convertible bonds (1st series) worth a total of 22 billion KRW to Quad Asset Management and Focus Asset Management, specialized bio and healthcare investment houses.
A company official said, “With the ability to secure research and development funds for the pipeline, including the ongoing Phase 1 clinical trial of the CAR-T therapy ‘AT101,’ it is expected that the commercialization and R&D achievements of the CAR-T therapy will gain more momentum.”
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He added, “Recently, interest and expectations for the CAR-T therapy market and Appclon’s AT101 have been increasing both domestically and internationally, and active participation from several domestic clinical institutions is also taking place.”
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