[Edaily Reporter Hong Ju-yeon ] On the 23rd, the domestic pharmaceutical and biotech sector was driven by market sentiment fueled by anticipation surrounding the global biotech partnering event “BIO USA 2026.” BL Pharmtech posted strong gains on expectations of positive outcomes from the event, while Curocell Inc. rose in tandem on expectations of a re-evaluation of health insurance coverage for its CAR-T therapy. In contrast, D&D Pharmatech Inc. traded lower in the wake of the exercise of conversion rights on its convertible bonds (CBs).

BL Pharmtech Jumps 23.8% on Expectations for BIO USA Partnering Event

According to KG Zeroin MP DOCTOR ( BL Pharmtech(065170))

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the stock closed at 2,020 won, up 388 won (23.77%) from the previous day. At one point during the trading session, the stock hit the daily price limit of 2,120 won. Expectations for positive outcomes at “BIO USA 2026”—the world’s largest biotech partnering event, taking place in San Diego, U.S., from the 22nd to the 25th (local time)—drove the stock price higher.

At this event, BL Pharmtech plans to hold partnering meetings with global companies in the fields of antibodies, antibody-drug conjugates (ADCs), and targeted protein degradation (TPD), focusing on its key candidate compound, “ML301.” ML301 is a molecular glue-based anticancer candidate that targets refractory solid tumors by relying on the alternative telomere lengthening (ALT) mechanism. Its anticancer activity and potential to inhibit tumor growth have been confirmed through cell-based studies and animal model evaluations. The company explains that this approach, which differs from small-molecule inhibitors or protein degradation (PROTAC) methods, is expected to offer advantages such as oral administration and a reduced risk of resistance.

Park Young-chul, Chairman of BL Pharmtech, said, “We have meetings scheduled with at least seven global companies at BioUSA, and we continue to receive additional requests.” He added, “Many companies are also showing interest in future updates regarding our molecular adhesive technology, which was the ultimate winner of Amgen’s ‘2025 Golden Ticket’ program.”

Curocell Inc. Rises 6.4% on Expectations of Re-evaluation for Reimbursement in July… Surges 19% Intraday

Curocell Inc.(372320)The stock closed at 30,600 won, up 1,850 won (6.43%) from the previous day. At one point during the session, it surged 19.24% to 34,800 won. This is interpreted as investor sentiment being boosted by expectations for a re-evaluation of health insurance coverage for “Limcato,” Korea’s first chimeric antigen receptor T-cell (CAR-T) therapy.

Curocell Inc. received marketing approval for Limcato last April, but its application for health insurance coverage was rejected last month by the Health Insurance Review and Assessment Service’s (HIRA) Committee on Severe (Cancer) Diseases. At the time, HIRA had set the condition that a paper be published in an internationally recognized academic journal; Curocell Inc. met this condition on the 12th by publishing the results of Rimcato’s Phase 1 and 2 clinical trials in “Blood,” the journal of the American Society of Hematology (ASH). Consequently, observers believe the company is now positioned to seek a re-evaluation in July and pursue a market launch in the second half of the year.

According to the Phase 2 clinical trial (CRC01) results included in the paper, Limcato recorded an objective response rate (ORR) of 75.3% and a complete remission (CR) rate of 67.1%, as evaluated by the Independent Review Committee (IRC). The incidence of Grade 3 or higher cytokine release syndrome (CRS) was 8.9%, and the incidence of neurotoxicity (NE) was 3.8%.

Since the cost of a single CAR-T treatment can reach hundreds of millions of won, market size is largely determined by whether it is covered by insurance; Curocell Inc. is reportedly considering a pricing strategy that is more than 10% lower than that of existing treatments.

D&D Pharmatech Inc. Down 10.6% Following Exercise of CB Conversion Rights

D&D Pharmatech Inc.(347850)closed the regular session at 96,100 won, down 11,400 won (10.6%) from the previous day. It appears that the exercise of conversion rights by convertible bond (CB) investors, totaling approximately 29.9 billion won, weighed on the stock price. On the 22nd, D&D Pharmatech Inc. announced that 1,423,762 newly issued shares (3.21% of the total outstanding shares), with a conversion price of 21,017 won per share, are scheduled to be listed on the 9th of next month. Analysts suggest this has heightened concerns over a short-term overhang (potential selling pressure). However, the company has largely mitigated the risk of further dilution by exercising call options on the remaining 4.4 billion won worth of CBs on the 15th.

On the same day, positive news continued to emerge regarding the company’s pipeline. D&D Pharmatech Inc. announced that its U.S. subsidiary, Neuraly, has been invited to present the Phase 2 clinical trial results for its key pipeline candidate, Zabo Pegduotide (DD01), at the “Shark Tank” session of the “SOLAR Conference 2026” to be held in Puerto Rico on the 27th. Key decision-makers from major pharmaceutical companies, including Madrigal, GSK Holdings, and Boehringer Ingelheim, will participate as panelists in this session. Lee Seul-ki, CEO of D&D Pharmatech Inc., stated, “Through our participation in SOLAR 2026, we will showcase the clinical value and differentiated competitiveness of Zabo Pegduotide to the global market.”