[Edaily Reporter NA EUN-KYUNG ] #Orum Therapeutics, Inc. CEO Lee Seung-ju, the company’s founder, demonstrated confidence in the market by purchasing approximately 170 million won worth of the company’s shares, even as the stock price plummeted following the termination of its contract with Bristol-Myers Squibb (BMS).

Orum Therapeutics, Inc. announced that CEO Lee purchased 10,000 shares of the company’s common stock on the 21st at 17,176 won per share on the open market. The total purchase amount was 171.76 million won, funded from his personal funds, including earned income.

With this purchase, CEO Lee’s personal shareholding increased from 3,388,000 shares to 3,398,000 shares. However, the total ownership ratio, including related parties, decreased from 15.85% to 15.79%. This was due to the exclusion of stock options held by former executive Jeffrey Harris Meyerson—who was previously considered a related party—from the calculation following his resignation.

This purchase took place amid a recent sharp decline in the stock price. Orum Therapeutics, Inc. announced the termination of its asset transfer agreement with BMS on September 17. The closing price on September 16—the business day immediately preceding the termination announcement—was 35,500 won, but as of 3:50 p.m. that day, the stock price stood at 17,200 won, marking a decline of approximately 51.5% over the course of about a month.

With expectations for technology transfer achievements weakened by the termination of the agreement with BMS, Orum Therapeutics, Inc. now faces the challenge of proving its corporate value through the clinical results of its in-house development pipeline.

Orum Therapeutics, Inc. is developing an antibody-drug conjugate (DAC) technology that attaches a protein-degrading drug to an antibody to deliver it to cancer cells. On the 14th, the company began administering the first dose to a patient in a Phase 1 clinical trial of “ORM-1153,” a candidate drug for the treatment of relapsed or refractory acute myeloid leukemia (AML).

In this clinical trial, the company plans to evaluate safety, pharmacokinetic characteristics, and initial anticancer activity in approximately 42 patients across multiple clinical sites in the United States.

In addition to its existing GSPT1-targeted proteolysis technology, the company is developing a new DAC payload platform designed for solid tumors. It has also initiated research to expand the application of DAC technology to autoimmune diseases.

An Orum Therapeutics, Inc. official explained that the company is in a financially stable position, holding approximately 250 billion won in cash as of the second quarter of this year, and noted that the CEO’s stock purchase demonstrates his confidence in the company’s pipeline.

Lee Seung-ju, CEO of Orum Therapeutics, Inc., said, “We will focus on securing clinical data for ORM-1153 and delivering results from our new platform,” adding, “We will continue to strive to create corporate value.”