ANTEROGEN, a developer of stem cell therapies, has seen its stock drop more than 20% on the 3rd after failing to prove the efficacy of its diabetic foot ulcer treatment in clinical trials.
As of 10:40 a.m. on the 3rd, ANTEROGEN's stock price is trading around 16,100 won, down approximately 27% from the previous trading day.
On the previous trading day, the 31st of last month, ANTEROGEN announced that it did not achieve statistical efficacy in its clinical trials for the diabetic foot ulcer treatment. According to the company, the complete wound closure rate (45.7%) for the 'ALLO-ASC-SHEET' treatment group, which ANTEROGEN is developing, was lower than that of the control group (60.0%).
The diabetic foot ulcer treatment 'ALLO-ASC-SHEET' being developed by ANTEROGEN is a patch-type stem cell therapy that adheres to the wound site like a bandage. When applied to the wound, the stem cells contained in the sheet help regenerate the skin.