[Market Focus] Samchundang Pharm, No. 1 in KOSDAQ Market Cap, Rises for 5 Consecutive Days...Hits Record High

Samchundang Pharm, which has taken the top spot in KOSDAQ market capitalization, continued its upward trend for the fifth consecutive day, reaching a new all-time high during intraday trading.

As of 9:45 a.m. on March 23, shares of Samchundang Pharm were trading at 943,000 won, up 36,000 won (3.97%) from the previous session. The stock hit a record high of 974,000 won during intraday trading. Over the past five consecutive trading days, Samchundang Pharm's share price surged from the 700,000 won range to over 900,000 won.

On March 20, the company overtook Ecopro to become the number one company by market capitalization on KOSDAQ for the first time. This was driven by a more than 14% rally following the announcement that it had completed the application for Phase 1 and 2 clinical trials of its oral insulin in Europe, securing the top market cap position.

Haejoo Wi, a researcher at Korea Investment & Securities, said, "The company achieved three momentum events in the first quarter alone. The announcement of the completion of the IND (Investigational New Drug) submission for the Phase 1 and 2 clinical trials of oral insulin in Europe marks the first achievement in more than a decade of research and development. Clinical trial results are expected to be available by the end of the year. If successful, this would bring the company closer to becoming the world's first developer of oral insulin, making it a potential game-changer in the market," he said.

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