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On the 13th, the results of phase 2 clinical trials for COVID-19 treatment were announced. Celltrion(329,000 -6.67%)Shares of the company fell for two days in a row. This is because the expectation that the effect of improving earnings from the treatment will not meet expectations. CelltrionIt was confirmed through the published phase 2 clinical results that the treatment was effective for some patients, but it is difficult to say that it showed overwhelming performance compared to competing treatments, and the market size is also limited.
15th CelltrionClosed the deal at 329,000 won, down 6.67%. The stock price decline over the last three trading days reached 14.32%. During this period, foreigners and institutions Celltrion They net sold shares worth 91.8 billion won and 104.6 billion won, respectively. Celltrionwith ‘Celltrion Constituting’three brothers’ CelltrionHealthcare (stock price -16.86% after the 13th) and CelltrionPharmaceuticals (-16.33%) are also on a downtrend.
Which was close to the record high until the 12th Celltrion The plunge in the stock price is the clinical result of the COVID-19 treatment. CelltrionAnnounced the results of phase 2 clinical trials of the injectable Corona 19 antibody treatment “Rekyronaju (ingredient name Legdanbimam CT-P59)” after the market closed on the 13th. According to this announcement, Rekirona reduced the incidence of severe patients requiring inpatient treatment by 54% for all patients and 68% for moderately ill patients over 50 years old. The P value, an index showing the significance of statistics, was 0.05 or higher in all except for the patients in their 50s or older. In general, clinical data for new drugs in the pharmaceutical industry are considered to be meaningful only when the P value is less than 0.05. Lee Myung-sun, a researcher at Shinyoung Securities, explained, “Since we were conducting small-scale clinical trials for rapid development, we could not secure statistical significance.”
The results announced through phase 2 clinical trials explain that it is difficult to justify the skyrocketing share price and expectations for the drug development. An official in the pharmaceutical industry said, “It is difficult to directly compare the major corona 19 treatments such as remdesivir, dexamethasone, and rekirona, as the indicators used in the clinic are all different. It is expected to be administered in such a way that,” he said. “In this case, the potential market size may be limited.”
Foreign Credit Swiss said in a report released last month, “Even assuming the most optimistic scenario, CelltrionThe maximum profit that can be obtained from the sale of this treatment is estimated at 400 billion won.” Celltrion The stock price surged 101.97% last year and the market capitalization increased by 23 trillion won, compared to 400 billion won in one-off profit growth.
Reporter Jeon Beomjin [email protected]
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