Finemedix reached the upper limit of its price cap shortly after the opening on the 27th. This seems to have stimulated investor sentiment with news of product approval from the U.S. Food and Drug Administration (FDA).
Finemedix shares traded at 10,060 won at 9:20 a.m. on the Korea Securities Dealers Automated Quotations (KOSDAQ) market. The stock price rose 29.97% (2,320 won) from the previous day.
Finemedix announced that its endoscopic hemostatic device "Clear-Hemograsper" has received medical device item approval from the FDA.
According to Finemedix, the Clear-Hemograsper is an endoscopic hemostatic device that uses high-frequency current to cauterize exposed blood vessels when digestive bleeding occurs. It has reportedly succeeded in localization as the first Korean corporation.
As Finemedix has obtained FDA item approval for a total of 11 product portfolios, it plans to pursue direct exports as well as original equipment manufacturing (OEM) and original design manufacturing (ODM) businesses.