Genexine has secured a long-term growth momentum as it bags a large deal to export its technology for immune treatment candidate, said Daishin Securities on Dec. 26, raising the target price to 89,000 won (US$82.65) from 59,000 won.
It is currently conducting pre- and first-phase clinical trials of its GX-17, an immune-oncology multi-target antibody-based candidate for infectious diseases and cancers, and proved its competitiveness in R&D by exporting the technology in the early stage of development, said analyst Hong Ga-hye.
The pharmaceutical company announced on Dec. 22 that it has signed a US$560 million licensing agreement with China’s I-Mab Biopharma, including a US$120 million upfront payment and US$548 million for milestones payments.
It also has treatments for growth hormone deficiency and cervical cancer in its pipeline, added the analyst maintaining a “buy” recommendation.
By Hwang You-mee (email@example.com)