Foreign investors’ KOSDAQ 2trillion5,000hundred million won in purchases, focused on biotech
Foreign investors net-purchased 2trillion5,000hundred million won worth of shares on KOSDAQ. GI Innovation and D&D Pharmatech shares surged on clinical-trial expectations, while Ingenia Therapeutics received approval for its preliminary listing review.
Foreign investors net-purchased 2trillion5,000hundred million won worth of shares on the KOSDAQ market. Net purchases were reported to be concentrated in the semiconductor, robotics, and biotech sectors. Daily concentrations of buying affected trading flows.
GI Innovation shares rose 23% following news that abstracts for the American Society of Clinical Oncology (ASCO) had been released. The company reported an objective response rate (ORR) of 40%. The information attracted investor interest.
D&D Pharmatech shares gained 14% on clinical-trial expectations related to the European Association for the Study of the Liver. The company had expressed expectations for data to be presented at the conference. Clinical-trial expectations triggered the share-price movement.
Active pharmaceutical ingredient companies announced that orders are increasing and performance is improving as the effects of factory expansions take hold. The companies said that increases in orders and a rebound in performance have been confirmed since the expansions. Expanded manufacturing capacity is affecting sales and orders.
Korean-American biotech company Ingenia Therapeutics received approval in its preliminary listing review. The company disclosed that it can proceed with the listing process. The approval moves the listing process to its next stage.