HLB Inventory Costs Rebound After FDA Setback: Kyobo Securities’ Hatta Method Makes Waves

[시사저널e=이승용 기자] The results of HLB’s failure to obtain approval for mixture therapy with the focused anticancer drug Rivoceranib from the US Meals and Drug Administration (FDA) continued this week.

Nonetheless, the day after Kyobo’s Gwangcle Securities Crew launched the Hatta buying and selling method (holding up the decrease restrict), HLB inventory costs started to rebound.

In keeping with the Korea Alternate on the twenty fifth, HLB’s inventory worth plunged 24.4% from 67,100 gained final week to 57,000 gained this week.

HLB inventory worth closed on the lowest worth of 47,000 gained on the twentieth, which is the primary buying and selling day of this week, following the bottom worth on the seventeenth of final week. Nonetheless, from the twenty first, as funding sentiment calmed down, it rebounded a bit at a time, finally ending this week’s market with a restoration to the 50,000 gained stage.

HLB introduced on the seventeenth that it has acquired a supplemental utility letter (CRL) from the US FDA for the first-line therapy for liver most cancers, a mix remedy of its focused anticancer drug ‘Rivoceranib’ and the immunotherapeutic drug Hengxi Pharmaceutical of China ‘Camrelizumab’. A CRL is an official doc despatched by the FDA when extra motion is required after a complete analysis of a drug approval utility for product approval.

As a result of shock that product approval was not given, HLB’s inventory worth went on to the decrease restrict on the seventeenth and fell to the decrease restrict of 47,000 gained from the market opening on the twentieth.

Nonetheless, a purchase order for two million shares instantly got here in by means of the counter of Kyobo Securities. The HLB inventory worth additionally began to interrupt away from the decrease restrict. At about 9:21, it rose to 48,900 gained. Nonetheless, as Kyobo Securities put 2 million shares up on the market once more, HLB’s inventory worth fell once more and finally returned to the decrease restrict. When calculating again the purchase and promote orders of Kyobo Securities, it’s estimated {that a} buying and selling revenue of about 1 billion to 2 billion would have been earned.

The buying and selling method launched by means of the Kyobo Securities window is the so-called ‘Hatta’, a short-term buying and selling method that tries to purchase on the low level, aiming for a pointy rebound within the quick time period after the cheaper price restrict.

In 2020, Kyobo Securities turned well-known as a buying and selling channel for many who launched buying and selling methods to meet up with the higher restrict in large-scale IPOs reminiscent of SK Biopharmaceuticals and Kakao Video games. The nickname ‘Kyobo Securities Gwangkeul Crew’ was created for these forces as properly. Kyobo Securities’ Gwangkeul workforce launched Hatta following Sangta.

/Graphics=Designer Kim Eun-sil

In the meantime, on the KOSDAQ this week, Ecopro BM and Ecopro managed to retain first and second place in market capitalization, whereas Alteogen surpassed HLB and jumped to 3rd place. Enchem retained fifth place.