April 27, 2024

• 

[THE INVESTOR] Hanmi Pharmaceutical on April 10 unveiled nine new drug candidates in preclinical animal testing, including those for breast and lung cancer.

They are among the 23 new drugs that the Korean drug maker is currently developing. 

The nine candidates include inhibitors of PD-L1, HER-2 and EGFR that are used in treatments for breast and lung cancer. Global drug giants such as Pfizer, Boehringer Ingelheim and Bristol-Myers Squibb are also undertaking development of similar drugs.

Hanmi disclosed the updated drug pipeline on its website, saying the disclosure aims to enhance transparency following last year’s insider trading scandal that led to fluctuations in its stock price and resulting damages to investors.

“This disclosure of new drug development status will be an opportunity for the public and shareholders to confirm the future value of the company,” Hanmi Pharmaceutical CEO Kwon Se- chang said. 

In December, three employees and an executive at at the firm were arrested on suspicion of insider trading, following the leak of key information concerning the dissolution of a partnership between Hanmi and German partner Boehringer Ingelheim.

Starting from early this year, the company has strengthened efforts to better communicate with investors and share more information with them on the website.

By Park Han-na (hnpark@heraldcorp.com)