[Edaily Reporter Hyera Lee ] HLB INC.(028300)is down by more than 20% in early trading. The stock is falling for the second consecutive day following news last week that HLB INC.’s plans to launch a new liver cancer drug in the U.S. had hit a snag. According to MP Doctor on the 13th, as of 9:13 a.m. today, HLB INC. is trading at 29,250 won, down 20.36% from the previous trading day. Following its plunge to the daily price limit on the previous trading day (the 10th), the stock has been on a downward trend for two consecutive days. According to HLB INC., the U.S. Food and Drug Administration (FDA) issued a Complete Response Letter (CRL) regarding the New Drug Application (NDA) for the combination therapy of “riboceranib and camrelizumab”—a first-line treatment for liver cancer—submitted by HLB Therapeutics’ U.S. subsidiary, Eleva Therapeutics. This is interpreted as a result of disappointment-driven selling following the failure to secure approval for HLB INC.’s third application. However, unlike the previous trading day when all stocks saw sharp declines, shares of HLB PANAGENE(046210) and HLB innoVation(024850) turned higher today, showing a mixed trend even within the group’s stocks. The company has reportedly stated that it plans to proceed with follow-up procedures to resubmit the application as soon as possible.
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(Photo courtesy of MedPacto, Inc.)
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