Foreign investors 2 trillion 5,000 hundred-million-won buying on KOSDAQ coincides with biotech clinical-trial and listing news
22 day, foreign investors net bought 2 trillion 5,000 hundred million won worth of shares on KOSDAQ. During the same period, D&D Pharmatech rose 14% on expectations for clinical data at the European Association for the Study of the Liver congress, while GI Innovation gained 40% after the release of ASCO abstracts and the announcement of an ORR in kidney cancer of 23%.
22 day, foreign investors made net purchases worth 2 trillion 5,000 hundred million won, focusing on the KOSDAQ market. Buying was concentrated in the semiconductor, robotics, and biotech sectors. The trading increased share-price volatility among major KOSDAQ stocks. Securities-market officials said the scale of net purchases stood out that day.
D&D Pharmatech rose 14% on expectations for clinical data related to the European Association for the Study of the Liver congress. The company said it was nearing the announcement of the relevant clinical results. Investor buying was reflected in the share price. The matter is linked to the schedule for the congress presentation.
GI Innovation's share price rose 23% after the release of ASCO abstracts. The company reported an objective response rate (ORR) of 40% for its immuno-oncology drug in kidney cancer. The information was released in the form of an ASCO abstract. Following the abstract release, the share price and trading activity moved sharply.
In the active pharmaceutical ingredient sector, the effects of factory expansions are becoming apparent. Companies have reported increased orders as expanded production capacity has boosted output. A number of companies have shown signs of improved quarterly results. News of expansions and rising orders has been reflected in industry coverage.
Ingenia Therapeutics, a Korean-American biotechnology company, has received approval for its preliminary listing review. The company will proceed with the listing process. The approval is linked to fundraising and the listing schedule. The news was reflected in disclosures to relevant investors.
As several biotechnology-related announcements were made during the same period, share prices of related companies moved sharply. Disclosures on clinical-trial expectations, abstract releases, factory expansions and preliminary listing review approvals emerged at the same time. These disclosures affected trading and volatility in the KOSDAQ biotechnology sector. Investors checked each company's official announcements.