April 27, 2024

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[THE INVESTOR] Hanmi Pharmaceutical’s novel drug candidate will begin second-phase clinical trials and gain more value, said KB Investment and Securities on April 5, maintaining a “buy” recommendation and raising the target price to 620,000 won from 600,000 won.

The company has announced that HM12525, its new biosimilar treatment for obesity and diabetes, exported to Janssen will be tested for efficacy.

The timeline has been moved up by a year and the drug candidate’s worth has increased to 520.9 billion won from 307.5 billion won, said analyst Seo Geun-heui.

Hanmi will announce the results of its pre-clinical trials in the US of HM43239 (FLT3 inhibitor) and HM97211 (LSD1 inhibitor) in the first half, and the results will serve as a momentum for its stock price, said the analyst. 

By Hwang You-mee (glamazon@heraldcorp.com)