[Edaily Reporter NA EUN-KYUNG ] On the 30th, while stock prices of domestic pharmaceutical, biotech, and healthcare companies were generally sluggish, a few companies stood out with strong performance. InBody Co., Ltd.(041830)continued its strong performance, hitting a new 52-week high amid expectations for market expansion in the glucagon-like peptide (GLP)-1 class of obesity treatments, while ARIBIOLAB (formerly CHA Vaccine Research Institute(261780)) posted double-digit gains following news that its largest shareholder, AriBio, had completed its participation in a rights offering. In contrast, Cellid Co., Ltd.(299660)hit a 52-week low as the fallout from the failure of its Phase 3 clinical trial for a COVID-19 vaccine continued.

InBody Co., Ltd.:

Growing Expectations of GLP-1 Benefits… New Record Highs Day After Day

According to KG Zeroin MP Doctor (formerly Marketpoint), InBody Co., Ltd. closed at 57,800 won today, up 9.89% from the previous trading day. During the session, the stock briefly rose to 62,000 won, setting a new 52-week high.

InBody Co., Ltd.’s recent stock rally is interpreted as reflecting expectations that the company will benefit from the expansion of the GLP-1-based obesity treatment market. In a recent report, MIRAE ASSET SECURITIES projected that as China’s obesity treatment market enters a phase of full-scale growth, demand for body composition analysis will also expand. In particular, the firm analyzed that as the importance of sarcopenia management and body composition monitoring following GLP-1 therapy grows, a new market will form centered on China’s Direct-to-Patient (DTP) pharmacies specializing in prescription drugs. It estimated the opportunity in China’s DTP pharmacy market alone at approximately 71.2 billion won and noted that the company’s brand value as a medical device manufacturer is also expected to rise.

In fact, the company is accelerating its push into the global obesity treatment market. InBody Co., Ltd. is currently collaborating with major global pharmaceutical companies in China to integrate InBody into the obesity treatment prescription process, and its overseas subsidiaries, including those in the U.S., are expanding partnerships to enter the GLP-1 market.

An InBody Co., Ltd. official stated, “While it is difficult to pinpoint the exact cause of the stock price rise, we believe InBody Co., Ltd. is attracting attention alongside the recent expansion of the GLP-1 market and growing interest in body composition management,” adding, “We plan to pursue various collaborations with global pharmaceutical companies in overseas markets, including China and the U.S., in the second half of this year.”

ARIBIOLAB Rises

11%

After Completing Rights Offering… Group Synergy Anticipated

ARIBIOLAB closed at 2,940 won today

,

up 11.36% from the previous trading day. The stock price increase is believed to have been influenced by the completion of

the rights offering

by its largest shareholder, AriBio. ARIBIOLAB announced in a regulatory filing that day that it had completed a 3 billion won third-party private placement targeting AriBio. The closing price of its affiliate, Solux Co., Ltd.(290690), also rose 6.15% from the previous day to 5,520 won, with both companies showing strength amid a sluggish KOSDAQ market for pharmaceutical and biotech stocks.

This capital increase serves as the first step toward strengthening the equity ties between the two companies and establishing a group-wide value chain for the dementia business. Consequently, attention is focused on how synergies from joint research and development will materialize in the future. The capital increase is also expected to accelerate efforts to clarify the division of roles within the AriBio Group.

The plan is for AriBio to focus on developing treatments for degenerative brain diseases, ARIBIOLAB to focus on vaccine and immune platforms, and Solux Co., Ltd. (scheduled to change its name to AriBio Holdings) to serve as the holding company and future platform. In particular, AriBio plans to utilize ARIBIOLAB’s immune-enhancing platform to develop a preventive vaccine for Alzheimer’s disease.

An official from ARIBIOLAB stated, “Although the amount itself is not large, this rights offering signifies that the two companies will begin full-scale collaboration through their equity relationship,” adding, “We plan to expand group-wide synergies not only in therapeutics but also into the preventive vaccine sector in the future.”

Aribio had previously sought a listing under the technology exception scheme but, after those efforts failed, had been pursuing a de facto entry into the stock market through a merger with Solux Co., Ltd. However, following the recent signing of a technology export agreement worth approximately 1.02 trillion won ($730 million) with a Chinese pharmaceutical company, interest is once again focusing on the possibility of an independent listing under the technology exception scheme.

In fact, during a press conference last May, AriBio Co-CEO Seong Su-hyun mentioned, “We are continuing to pursue the merger with Solux Co., Ltd.,” adding, “We are keeping our options open and reviewing various directions, including not only a listing on KOSDAQ but also the possibility of a KOSPI listing.”

Cellid Co., Ltd.: Aftermath of COVID-19 Vaccine Clinical Trial Failure

… Hits

52-Week Low

Cellid Co., Ltd. closed at 1,406 won today, down 27.90% from the previous trading day. During the session, the stock fell as low as 1,369 won, hitting

a

52-week

low

.

The sharp drop in the stock price is believed to be the result of a rapid decline in investor sentiment following the company’s announcement on the 26th that its COVID-19 vaccine candidate “AdCLD-CoV19-1 OMI,” currently in development, failed to demonstrate non-inferiority in the primary immunogenicity endpoint during its global Phase 3 clinical trial.

AdCLD-CoV19-1 OMI was the final stage of the COVID-19 vaccine project that Cellid Co., Ltd. had been developing since 2020. Following the initial development of a COVID-19 vaccine, Cellid Co., Ltd. successively developed improved vaccines targeting the Delta and Omicron variants and, with government support, advanced to the global Phase 3 clinical trial. The market had viewed this clinical trial as the final hurdle toward the commercialization of a domestically developed COVID-19 vaccine, but since the vaccine ultimately failed to meet the primary endpoint, the company now faces the task of reworking its follow-up clinical trial and approval strategies.

However, the company plans to continue development. It will hold a shareholder briefing on July 9 to explain its roadmap for follow-up clinical trials, the product approval schedule, and plans for securing clinical trial funding.

Kang Chang-yul, CEO of Cellid Co., Ltd., stated, “Based on the safety data obtained from this Phase 3 clinical trial of the COVID-19 vaccine and the clinical experience we have accumulated so far, we will complete the follow-up clinical trials to demonstrate immunogenicity and the Ministry of Food and Drug Safety’s marketing authorization process as quickly as possible.” He added, “We also plan to achieve early results in our collaboration on cancer treatment vaccines, and to enhance our undervalued corporate value, I, as CEO, plan to purchase additional shares.”