[Featured Stock] Hyundai Bio Rises 12% on Signing Advisory Contract with IQBA

[Asia Economy Reporter Lee Jung-yoon] Hyundai Bio is showing strong performance after announcing on the 2nd that it has signed an advisory contract with global CRO (Contract Research Organization) IQVIA.

As of 10:22 AM on the same day, Hyundai Bio was trading at 38,650 KRW, up 12.52% (4,300 KRW).

This advisory contract was signed to apply for emergency use authorization and fast track designation from the U.S. FDA (Food and Drug Administration) for CP-COV03, a broad-spectrum antiviral drug under development, as a treatment for COVID-19 and monkeypox. IQVIA is the largest global CRO with over 82,000 employees across more than 100 countries.

Additionally, Hyundai Bio plans to establish a local U.S. subsidiary, tentatively named Hyundai BioScience USA, to be dedicated to handling the emergency use authorization application for CP-COV03 and subsequent clinical trial-related tasks after Chuseok.

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