April 25, 2024
Stocks & Bonds
[EQUITIES] ‘Genexine gains from big export deal’
[THE INVESTOR]
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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 (glamazon@heraldcorp.com)
