[Featured Stock] Alteogen Surges Over 21% on Royalty Claim Against Chinese Chiruze Pharmaceutical

Alteogen's stock surged on the 26th after charging a royalty fee for the Herceptin biosimilar ALTL2 to China's ChiRu Pharmaceutical.

As of 2:50 PM that day, Alteogen was trading at 158,800 KRW, up 27,600 KRW (21.04%) from the previous trading day. During the session, the stock price even reached 161,700 KRW. Jaewon Lee, a researcher at Shinhan Investment Corp., said, "Alteogen broke its record high following the news of the technology export contract with China's ChiRu Pharmaceutical."

[Photo by Alteogen]

Previously, Alteogen had independently completed Phase 1 clinical trials of ALTL2 in Canada in 2016 but halted its own development due to intensified competition in the global market. ChiRu Pharmaceutical acquired the technology transfer from Alteogen in 2017. Subsequently, the Phase 3 clinical trials were completed in China by the end of 2022, and the Clinical Study Report (CSR) was recently finalized.

Following the completion of the clinical trials, Alteogen, having claimed the milestone (royalty), expressed expectations that "this will become a pipeline capable of generating continuous cash flow."

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