[Featured Stock] LegoChem Bio, Two Consecutive Days of Gains Following Technology Transfer to US Janssen
LegoChem Bio has been on a strong upward trend for two consecutive days following the news of signing a technology transfer agreement worth 2.2 trillion KRW with Janssen in the United States.
As of 9:22 AM on the 27th, LegoChem Bio is trading at 61,900 KRW, up 7.84% from the previous close.
LegoChem Bio announced that it signed a technology transfer agreement with Janssen Biotech for the development and commercialization of the Trop2 ADC ‘LCB84’. The total contract amount, excluding royalties, is $1.72 billion (approximately 2.2 trillion KRW).
SK Securities raised the target price for LegoChem Bio to 74,000 KRW, expecting a revaluation of the pipeline’s value due to the 2.2 trillion KRW technology transfer agreement with Janssen. The investment rating was maintained as 'Buy'.
Researcher Donggeon Lee analyzed, "This technology transfer is the largest technology transfer contract among domestic pharmaceutical/biotech companies in 2023 and aligns with the recent active trend of technology transfers and mergers & acquisitions (M&A) related to ADCs by global big pharma." He added, "It is expected to reaffirm LegoChem Bio’s position in the global ADC market."
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He continued, "Starting with this technology transfer, in 2024, we expect a revaluation of pipeline value through clinical outcome confirmations of the transferred pipelines, as well as additional achievements in ADC technology transfers."
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