[Edaily Reporter KIM SAE-MI ] On the 24th, the biotech and healthcare sector saw a rare upswing, driven by the impact of the “2026 Bio International Convention (Bio USA),” the world’s largest biotech exhibition.

On that day, the stock prices of biotech companies such as △Alteogen Inc.(196170)(11.56%) △Peptron, Inc.(087010)(14.59%) △LigaChem Biosciences(141080)(10.58%) △HLB INC.(028300)(5.89%) △Olix Pharmaceuticals, Inc.(226950)(13.91%) △ #Rznomics Inc. (10.12%) all showed strong gains. Among them, #ROKIT HEALTHCARE Inc. and AprilBio Co.,Ltd.(397030)hit their daily price limits.

ROKIT HEALTHCARE Inc. Soars on Expectations of U.S. Subsidiary’s NASDAQ Listing

According to KG Zeroin MP Doctor (MP DOCTOR, formerly Marketpoint) on that day

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ROKIT HEALTHCARE Inc. closed at 48,000 won, up 11,050 won (29.91%) from the previous day. This is believed to be due to expectations surrounding the Nasdaq listing of Rokit America, ROKIT HEALTHCARE Inc.’s wholly-owned U.S. subsidiary, which drove the stock price to its daily upper limit early in the trading session.

ROKIT HEALTHCARE Inc. issued a press release this morning stating that its U.S. subsidiary, Rokit America, had completed the procedures related to Form S-1 with the U.S. Securities and Exchange Commission (SEC). The company explained that it has entered the final stage of its listing on the Nasdaq Global Market.

However, some observers point out that it remains unclear whether the completion of the S-1 process signifies “SEC comment clearance,” “registration effectiveness,” or simply the completion of submitting an amended registration statement (S-1/A). If the SEC has granted registration effectiveness, an “EFFECT” announcement would be issued, and the final 424B4 prospectus containing the final offering price would be submitted.

The company emphasized, “Once this listing is completed, Rokit America will become the first subsidiary of a KOSDAQ-listed Korean biotech company to be listed on the Nasdaq Global Market, and it will be the first case of a company pioneering long-term regenerative clinical trials and markets in North and South America with the 38 billion won in investment expected to be secured locally.”

The key question is whether Rokit America will be able to maintain its enterprise value following its listing on the U.S. Nasdaq. In fact, while subsidiaries or affiliates of South Korean biotech companies have successfully listed on the U.S. Nasdaq market, none have managed to maintain their Nasdaq listing status to date.

Another obstacle is that it will be difficult to initiate clinical trials for its core platforms using only the proceeds from the public offering. In the S-1/A filing, the company estimated net proceeds at $21.9 million (approximately 32.9 billion won) based on the midpoint of the offering price range. While the company plans to allocate 20% of these funds to each of its cartilage regeneration and kidney regeneration platforms, it explicitly stated that this amount is insufficient to initiate clinical trials for either platform.

The company stated, “At this time, we do not expect to complete, or may not initiate, Phase I clinical trials for these platforms using the proceeds from this offering.”

In this regard, PharmEdaily—E-Daily’s premium pharmaceutical and biotech content service—sent an inquiry to Rokit America but has not yet received a response.

AprilBio Co.,Ltd. Soars to Daily Limit Up Following Acquisition Rumors and Rights Offering Announcement

AprilBio Co.,Ltd.’s stock price surged following reports that TaekwangIndustrial, in partnership with IMM Investment, would acquire a controlling stake in AprilBio Co.,Ltd. for 3000억 won.

AprilBio Co.,Ltd. closed at 39,700 won during regular trading—up 5,350 won (15.57%) from the previous day—and then closed at 44,650 won in after-hours trading, up 10,300 won (29.99%) from the previous day. It is believed that the stock reached its daily price limit because the acquisition rumors were largely confirmed through the company’s official disclosure.

As the news spread rapidly through the market, investor demand for confirmation of its veracity grew. Consequently, at 4:25 p.m. that day, the KOSDAQ Market Division of the Korea Exchange requested an inquiry disclosure from AprilBio Co.,Ltd. regarding the rumors of a takeover by TaekwangIndustrial. The deadline for a response is 12:00 p.m. on the 25th.

AprilBio Co.,Ltd. announced at 7:00 p.m. on that day that it had decided to conduct a third-party private placement worth 141.8 billion won. According to the announcement, AprilBio Co.,Ltd. will raise 141.8 billion won by issuing 4,095,456 common shares to IMM Asset Management and IMM Scale-up Bio No. 1 Limited Company. The issue price for the new shares is 34,620 won per share, which is the same as the reference share price. The funds raised are scheduled to be used entirely for working capital, including research and development expenses.

Once the payment for the capital increase is completed as disclosed, IMM Asset Management is set to become AprilBio Co.,Ltd.’s largest shareholder. The payment date is July 23, and the new shares are scheduled to be listed on August 13. IMM Asset Management plans to establish an institutional-only private equity fund and a special purpose company (SPC) in the future to transfer its contractual status and other rights.

Additionally, AprilBio Co.,Ltd. announced that the recipients of the third-party allocation each signed share purchase agreements with CEO Cha Sang-hoon, the existing largest shareholder, on the same day, and that these transactions are scheduled to be finalized simultaneously on the payment date for the new shares. However, TaekwangIndustrial was not included in this disclosure.

In this regard, Pharm Daily attempted to contact AprilBio Co.,Ltd. several times to verify the facts but was unable to reach the company.

HANALL BIOPHARMA CO.,LTD ‘Soars’ on Reassessment of IMVT-1402’s Value

HANALL BIOPHARMA CO.,LTD(009420)HANALL BIOPHARMA CO.,LTD soared on the back of a reassessment of the value of its FcRn inhibitor “imeroprubart” (IMVT-1402) by global market research firm Evaluate.

On the 24th, HANALL BIOPHARMA CO.,LTD closed at 58,600 won, up 9,300 won (18.86%) from the previous day. The sharp rise in the stock price that day appears to have been driven by news that Evaluate had identified the FcRn inhibitor “imeroprubart” (IMVT-1402) as one of the world’s high-value research and development (R&D) projects in its “World Preview 2026: Big Drugs. Bigger Questions.” report.

In the report published on the 23rd (local time), Evaluate ranked IMVT-1402 sixth among the world’s top 10 R&D projects based on net present value (NPV). According to the report, IMVT-1402’s projected revenue for 2032 is $5.1 billion (approximately 7.9 trillion won), and its current NPV is estimated at $16.9 billion (26.17 trillion won). This represents the highest NPV among the immunomodulator candidates ranked in the top 10.

Some observers have suggested that the $5.1 billion revenue forecast may reflect estimates related to both Immunovant and its parent company, Royvant. Therefore, they point out that caution is needed when interpreting this figure as the consensus estimate for IMVT-1402’s standalone product revenue.

Notably, the NPV of IMVT-1402 has been revised upward from $9.8 billion (15.18 trillion won) in January of this year to $16.9 billion. HANALL BIOPHARMA CO.,LTD believes that the release of interim results from the Phase 2 clinical trial for difficult-to-treat rheumatoid arthritis (D2T-RA) in the first half of this year allowed for the incorporation of actual patient data into the valuation.

A HANALL BIOPHARMA CO.,LTD official stated, “In January of this year, there was no patient data available for IMVT-1402, so we had no choice but to estimate its value indirectly based on data from its precursor compound,” adding, “It appears that the value was revised upward as the D2T-RA interim results were released and that data was incorporated into the assessment.”

For HANALL BIOPHARMA CO.,LTD, this valuation could serve as an opportunity to reevaluate its technology export assets.HANALL BIOPHARMA CO.,LTD will receive milestone payments and royalties upon the successful commercialization of IMVT-1402. The royalty rate for IMVT-1402 is reportedly in the mid-single digits to mid-teens range, which is generally interpreted as falling within the 5–15% range.

There is also potential for further value appreciation. HANALL BIOPHARMA CO.,LTD believes that this valuation primarily reflects the interim results of the D2T-RA trial. Immunovant plans to announce additional clinical results for D2T-RA and topline proof-of-concept (PoC) data for cutaneous lupus erythematosus (CLE) in the second half of this year. Data on additional indications, such as Graves’ disease (GD) and myasthenia gravis (MG), will be released next year.

A HANALL BIOPHARMA CO.,LTD official stated, “We believe the current valuation reflects only the interim results for D2T-RA,” adding, “There is upside potential once data for additional indications becomes available.”