HanAll Biopharma is experiencing a strong surge in its stock price, rising over 14% on the second consecutive day, following positive clinical trial results from its global partner, Immunovant, for an autoimmune disease treatment.
According to the Korea Exchange, as of 10:10 a.m. on May 22, HanAll Biopharma shares were trading at 58,000 won, up 7,100 won (13.75%) from the previous trading day. The day before, the stock had soared to the daily limit of 29.85%, closing at 59,000 won.
The stock's rise is attributed to Immunovant's announcement on May 20 of interim data from a Phase 2 clinical trial for its antibody treatment, IMVT-1402, targeting rheumatoid arthritis. This treatment is based on an FcRn (neonatal Fc receptor) inhibitor that HanAll Biopharma licensed to Immunovant in 2017.
Immunovant reported that in the 16-week interim analysis of patients with refractory rheumatoid arthritis who did not respond to existing therapies, the treatment achieved ACR20, ACR50, and ACR70 response rates of 72.7%, 54.5%, and 35.8%, respectively. ACR is a measure of improvement in rheumatoid arthritis symptoms, with ACR70 indicating a 70% or greater improvement in symptoms among patients.
Market analysts are focusing on the strong efficacy data compared to competing drugs. Jeong Hee-ryeong, a researcher at Kyobo Securities, noted, "When compared to the Phase 2a results of Johnson & Johnson's nipocalimab, significant improvements were observed in the ACR50 and ACR70 metrics, raising expectations for the final data."
Jeong Yi-soo, a researcher at IBK Investment & Securities, added, "Given that other FcRn inhibitors have shown poor results in rheumatoid arthritis trials, this data could prompt a reevaluation of IMVT-1402's potential as a best-in-class drug, increasing expectations for expanded indications in the future."
The market is also keenly awaiting additional clinical results to be released. Immunovant is currently conducting further trials to confirm the maintenance effects by reclassifying patients into high-dose, low-dose, and placebo groups after the 16-week treatment. The final 28-week topline data is expected to be released in the second half of this year. Additionally, results from a proof-of-concept clinical trial for another indication, CLE (cutaneous lupus erythematosus), are also anticipated later this year.
* This article has been translated by AI.
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