[Edaily Reporter Kim Seung-kwon ] On the 10th, stock prices for #SAMIK PHARM. Co., LTD., JW SHINYAK CORPORATION(067290), and Voronoi, Inc.(310210)surged in the domestic pharmaceutical and biotech market. As both the KOSPI and KOSDAQ rebounded sharply by around 4%, buying interest poured into small- and mid-cap pharmaceutical and biotech stocks.

In particular, SAMIK PHARM. Co., LTD.’s stock soared to the daily price limit without any new announcements or clear positive news. This recent upward trend is interpreted as stemming from expectations for a hair loss treatment. However, some analysts note that since the growth trajectories of the three companies differ, investors should distinguish between short-term supply and demand dynamics and medium- to long-term intrinsic value.

SAMIK PHARM. Co., LTD. Rises Without Specific Catalysts… Need to Distinguish Between Platform Expectations and Development Stage

According to KG Zeroin’s MP DOCTOR, SAMIK PHARM. Co., LTD. closed at 8,330 won today, up 1,920 won (29.95%) from the previous trading day. No announcements or business news directly explaining the sharp rise were released. Market analysts interpret this as a renewed reflection of expectations regarding the company’s long-acting injectable platform and its hair loss-related pipeline.

SAMIK PHARM. Co., LTD. is developing long-acting injectables using its proprietary microsphere manufacturing platform, “UniSphero.” Last September, the company registered a patent for long-acting microsphere technology for the immunomodulatory peptide “cymosin alpha-1.” The company confirmed that the drug release rate on the first day of administration was reduced from 49.9% in the control group to 23.7%, and that the drug was released steadily over a 28-day period.

SAMIK PHARM. Co., LTD. stated, “Based on the UniSphero platform, we will actively expand our research into a pipeline of long-acting injectables that enhance patient convenience.”

However, some argue that it is premature to interpret this patent as a “patent for a new hair loss drug.” The alopecia areata candidate “SLIM2401” is based on baricitinib, while thymosin alpha-1 corresponds to “SLIM2402,” which is intended for anticancer and immunomodulatory purposes. SLIM2401 is still in the preclinical stage. Since patent registration and the demonstration of clinical efficacy are separate matters, some point out that this sharp rise in stock price should be interpreted with caution.

JW SHINYAK CORPORATION Shares Surge Over 16%… Combining Hair Loss Sales Base with Cost Efficiency

JW SHINYAK CORPORATION closed at 2,455 won, up 345 won (16.35%) from the previous trading day. Although there were no new contracts or clinical results, investor sentiment appears to have been driven by the company’s existing sales base for hair loss treatments and expectations for joint development.

JW SHINYAK CORPORATION offers finasteride-based hair loss treatments and a line of hair and scalp care products. Unlike companies grouped under a specific theme based solely on expectations, JW SHINYAK CORPORATION is distinguished by its established revenue base. The company is also participating in the joint development of “AD-303,” a topical hair loss treatment for which Moogene Medi has received approval for Phase 1 and 2a clinical trials, alongside Yuhan Corporation and Medica Korea. However, analysts note that since this is a conditional agreement that could be terminated in the event of clinical failure, the actual clinical results must be closely monitored.

In the third quarter of this year, standalone revenue reached 21.262 billion won, a 3.3% increase year-over-year, but operating profit fell 3.1% to 2.61 billion won. The key question going forward is whether cost efficiency measures will lead to improved profitability.

The company has also initiated procedures to shut down its over-the-counter (OTC) drug manufacturing business, as it does not produce any products in-house. A JW SHINYAK CORPORATION official explained, “Since we do not produce any products ourselves, the goal is to reduce the costs associated with maintaining the OTC drug manufacturing business, such as facility maintenance expenses.”

Voronoi, Inc. Shares Surge 15%… VRN11 Results and Financial Burden Coexist

Voronoi, Inc. closed at 111,800 won, up 14,300 won (14.67%) from the previous trading day. Analysts attribute this to optimism surrounding the recently released clinical trial results for a new lung cancer drug and expectations for follow-up data next year.

Its core pipeline consists of “VRN11,” a candidate drug for treating EGFR-mutated non-small cell lung cancer. According to Phase 1 clinical trial results presented at the European Society for Medical Oncology (ESMO) conference last October, the intracranial disease control rate among 20 patients with brain metastases was 95%, and brain lesions completely disappeared in four of them. Ha Hyun-soo, an analyst at Yuanta Securities Korea, commented, “The high target selectivity and blood-brain barrier (BBB) permeability observed in preclinical studies are being validated in the clinical phase.”

However, the burden of clinical trial costs is expected to be a variable affecting the stock price. Voronoi, Inc. is currently pursuing the issuance of convertible bonds (CBs) worth approximately 80 billion won to fund the global Phase 1 clinical trial of VRN11. A Voronoi, Inc. official stated, “As patient enrollment requests from global principal investigators (PIs) have exceeded expectations, the funding required to proceed with the trial has also increased,” adding, “Several major global pharmaceutical companies are showing interest, and discussions are underway.”

Eom Min-yong, an analyst at Shinhan Investment Securities, predicted, “If competitive results emerge in the first half of next year from the patient group with no prior Tagrisso treatment experience, the possibility of entering the first-line treatment market will open up.”