"Momentum Hotspot" Stock Soars from 240,000 to 900,000 Won... Who Is the "Catfish" of KOSDAQ?[Weekend Money]

Samchundang Pharm Accelerates European Clinical Trials for Oral Insulin
Korea Investment & Securities: "Three Momentum Events in Q1...A Momentum Powerhouse"

"The catfish of KOSDAQ." "Momentum hotspot." These are some of the evaluations from Korea Investment & Securities regarding Samchundang Pharm, which has entered the global clinical stage for its oral insulin.

In the report "Samchundang Pharm: The Catfish of KOSDAQ," Wi Haejoo, a researcher at Korea Investment & Securities, noted, "Samchundang Pharm has clearly changed. The company achieved three momentum events in just the first quarter."

Samchundang Pharm's stock price, which was around 240,000 won at the beginning of the year, has recently surged to the 900,000 won range. On Friday, March 20, the stock closed more than 14% higher, buoyed by the company’s announcement that it had completed applications for Phase 1 and 2 clinical trials of its oral insulin in Europe.

Researcher Wi commented, "This is the first outcome from over a decade of research and development," and added, "Considerable time was spent optimizing the formulation for oral insulin development, establishing the finished product production line, and building the clinical protocol. However, given the lengthy preparation period, the clinical development period could be shortened." He further noted, "If successful, Samchundang Pharm will be on the verge of developing the world’s first oral insulin, attracting attention as a game changer." The global insulin market, which is currently comprised solely of subcutaneous insulin, is estimated to be worth about 40 trillion won.

Wi especially emphasized that the company’s confidence is evident in the disclosed clinical design. The current clinical trial will target patients with type 1 diabetes, comparing the blood glucose control functionality, bioavailability, and food effect of oral insulin with those of subcutaneous insulin. He highlighted that it is particularly notable that the clinical trial is planned for patients with type 1 diabetes, who are at high risk for hypoglycemia, and mentioned, "It is presumed that the company has confirmed a certain level of success in patients through a separate pilot clinical trial."

When will the next momentum event occur? Wi, who called Samchundang Pharm a "momentum hotspot," pointed out that the approval status for the IND (Investigational New Drug application) is expected to be confirmed in the second quarter. He explained, "The clinical trial may run for up to nine months, but the company aims to confirm the results by the end of the year."

He continued, "The contract for the U.S. generic version of oral Wegovy with S-PASS integration is also proceeding on track. The company continues to deliver on its promised momentum events without setbacks, making it impossible not to take greater interest in Samchundang Pharm despite external uncertainties." However, he did not provide an investment opinion or target price.