[Edaily Reporter SONG YOUNG-DOO ] The KOSDAQ market showed strength, driven by net buying from both foreign and institutional investors, and most stocks in the pharmaceutical and biotech sectors also closed higher. In particular, Qurient Co., Ltd., AbClon Inc., and L&C BIO drew market attention as their shares surged by more than 20% each. For Qurient Co., Ltd. and AbClon Inc., securities firms’ reports reevaluating their corporate value stimulated investor sentiment, while L&C BIO saw strong buying interest as the market interpreted its large-scale rights offering as an investment in future growth.

“Game-changer in a $15 billion market”… Qurient Co., Ltd. surges 27%

Qurient Co., Ltd. recorded the largest gain of the day. According to KG Zeroin MP Doctor (MP DOCTOR, formerly Marketpoint) on the 4th, Qurient Co., Ltd.(115180)closed at 21,900 won, up 4,690 won (27.25%) from the previous trading day. The sharp rise was directly triggered by Shinhan Investment Securities identifying Qurient Co., Ltd. as a key beneficiary in the next-generation CDK7 inhibitor (CDK7i) market.

Shinhan Investment Securities highlighted that the global breast cancer treatment market is currently centered on HR+/HER2- breast cancer rather than HER2-positive breast cancer. The market for CDK4/6 inhibitors—including Pfizer’s Ibrance, Novartis’s Kisqali, and Eli Lilly’s Verzenio—grew to approximately $14.6 billion last year and is projected to expand to $17.5 billion by 2030. This is more than double the size of the HER2 ADC market, which includes Enhertu.

However, currently commercialized CDK4/6 inhibitors face the limitation of developing resistance with long-term use. Consequently, major global pharmaceutical companies are competing to secure next-generation CDK-based therapies. In fact, Roche, Novartis, and Gilead have recently signed a series of acquisitions and technology licensing agreements worth billions of dollars to secure CDK-related assets.

Shinhan Investment Securities assessed that Qurient Co., Ltd.’s CDK7 inhibitor “Mokacyclip (Q901)” is the prime candidate to benefit most from these market shifts. In particular, the firm analyzed that the drug has secured a competitive advantage over REC-617 from Recession Pharma—a global competitor—and is the only CDK7 inhibitor capable of simultaneously overcoming resistance to both CDK4/6 inhibitors and Topo-1-based ADCs.

The company is also poised to announce potential technology transfer opportunities and Phase 2 clinical trial data in the second half of this year. The securities industry forecasts that if these events materialize, expectations for a global technology transfer will grow even further. In particular, given the potential for combination therapy with Topo-1-based ADCs, the possibility of future collaboration with global ADC companies was also rated highly.

“Targeting the Post-Enhertu Era”… AbClon Inc. Jumps 20%

AbClon Inc.(174900)Appclon also closed trading at 26,500 won, up 4,550 won (20.73%) on the day. Similar to Qurient Co., Ltd., a new coverage report from Shinhan Investment Securities served as the direct catalyst for the stock’s rise.

The securities industry assessed AbClon Inc.’s HER2 antibody “AC101” as a best-in-class candidate for HER2-positive gastric and breast cancers. Analysts noted that AC101, currently under joint development with China’s Henlius, is highly likely to demonstrate superior efficacy compared to existing standard treatments in the first-line treatment of HER2-positive gastric cancer. The report noted that AC101 is expected to achieve a median progression-free survival (mPFS) of approximately 39 months (not yet reached), compared to about 10 months for existing treatments.

In particular, the market noted that AbClon Inc. is beginning to be reevaluated not merely as a domestic biotech company, but as a platform company capable of competing in the global HER2 market. Shinhan Investment Securities assessed that AC101 has ample potential not only to enter the first-line treatment market for HER2-positive gastric cancer but also to expand into the U.S. and European markets. It also suggested the possibility of expanding the indication to breast cancer through a combination strategy with Enhertu.

The report analyzed that the key investment point for the second half of this year is whether AC101 can demonstrate competitiveness compared to existing trastuzumab-based HER2 therapies. The market interprets the sharp rise in the stock price as a result of renewed attention on the value of the HER2 platform, which had been relatively undervalued until now.

Up 20% Despite Rights Offering… L&C BIO: “Growth Over Dilution”

L&C BIO(290650)closed at 58,700 won, up 10,150 won (21.90%) on the day. Buying interest intensified as the rights offering announced the previous day was interpreted not as a typical negative factor but as an investment in growth.

Generally, a rights offering is viewed as a short-term negative due to concerns about the dilution of existing shareholders’ equity value. However, the sentiment was different this time. The market focused on the fact that the secured funds would be invested not merely in working capital but in expanding global production capacity and overseas business operations.

L&C BIO is currently ramping up its global operations by expanding into the Chinese market and entering the U.S. market. Analysts suggest that investors placed greater emphasis on the potential for future revenue growth and increased corporate value rather than short-term concerns about an overhang.

Another positive factor was the emerging trend in the biotech sector of placing a premium on proactive investments aimed at securing future growth engines. Consequently, the rights offering announced the previous day was viewed as an event that would actually enhance the company’s medium- to long-term growth potential, leading to a stock price surge of over 20% in a single day.

In fact, the market generally views L&C BIO’s rights offering as a positive rather than a negative development. An L&C BIO official stated, “Since this rights offering is strongly focused on investment for global business expansion, the market is viewing it more as a growth investment than as share dilution—a sentiment that is stronger than expected,” adding, “The company also plans to focus the secured funds on securing future growth engines.” The official continued, “With mid- to long-term growth momentum on the horizon—including Lituo’s entry into the U.S. market and the commercialization of lung fat products—our business is progressing smoothly according to plan.”