Soaring Korean stocks Why are HLB Pharmaceuticals rising?

 

 Soaring Korean stocks HLB Pharmaceutical's stock price rise

 

The main reason for the recent rise in HLB Pharmaceutical's stock price is the expectation that the stock price will rebound and the expectation of a retry, even though it failed to receive FDA approval for its liver cancer drug riboceranib. HLB Pharmaceuticals has applied for a first-line product approval (NDA) from the FDA for the combination of riboceranib and China's Hangseo Pharmaceutical's camrelizumab, and the recent news that Hangseo Pharmaceutical's Chemical Manufacturing Quality Control (CMC) due diligence results showed no particular issues, increasing the possibility of FDA approval. As a result, HLB Pharmaceutical's stock price continues to rise

In addition, HLB Pharmaceuticals has achieved the highest half-year sales in its history, and the company's financial position is improving. Sales in the first half of 2023 grew 60% year-on-year to KRW 67.6 billion, driven by the rapid growth in sales of specialty drugs

Soaring Stocks Domestic Stocks HLB Pharmaceuticals Company Information

HLB Pharmaceuticals is a pharmaceutical company that develops various anti-cancer drugs and immunotherapies, and has recently been actively working for FDA approval of riboceranib. HLB Pharmaceuticals is a subsidiary of HLB Group, and continues to grow by leveraging the Group's strong R&D capabilities and global network. In particular, we are expanding our sales through various product lines such as the joint specialty brand 'Quantel'

 

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