GI Innovation and D&D Pharmatech surge, foreign investors buy on KOSDAQ 2.5 trillion won
Foreign investors made net purchases worth 2.5 trillion won on KOSDAQ. GI Innovation shares surged after the release of ASCO abstracts and an announcement of an ORR of 40% in kidney cancer, while D&D Pharmatech also rose 14% on expectations for European clinical trials. Active pharmaceutical ingredient manufacturers reported improved orders and earnings following factory expansions.
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22 day, foreign investors made net purchases worth 2.5 trillion won on KOSDAQ. Buying was concentrated in the semiconductor, robotics, and biotechnology sectors. Demand for related industries increased on the trading day.
GI Innovation shares rose 23% following news of the release of ASCO abstracts. In the same announcement, the objective response rate (ORR) for treatment of kidney cancer was reported at 40%. The company disclosed the clinical trial results.
D&D Pharmatech rose 14% on expectations for clinical developments related to the European Association for the Study of the Liver. The company disclosed a presentation or abstract release at the conference. The market checked the clinical results and presentation schedule.
Active pharmaceutical ingredient manufacturers reported that orders were increasing and performance was improving as the benefits of factory expansions took effect. Some companies cited expanded production capacity as the reason for the increase in orders. Factory operations and shipment schedules are being adjusted.
Ingenia Therapeutics, a Korean-American biotechnology company, received approval in its preliminary listing review. The company disclosed that it had received the approval. The relevant process is moving to the next stage.
This trend led to changes in supply and demand for biotech stocks on KOSDAQ and some technology stocks. Share prices of major stocks moved sharply immediately after announcements and disclosures. Investors checked the relevant disclosures and clinical abstracts.