The stock price of Peptron rebounded slightly the day after it recorded a lower limit (the bottom of the daily price cap). This seems to be due to the company stating that it is proceeding with a technical evaluation with Eli Lilly without any issues.
Peptron shares were traded at 168,700 won in the Korea Securities Dealers Automated Quotations (KOSDAQ) at 10:52 a.m. on the 5th. The stock price rose 4.78% (7,700 won) compared to the previous day. During the early trading session, it dropped to 151,000 won but then jumped to 176,900 won.
Peptron hit the lower limit the previous day. Many investors were concerned about Peptron and Eli Lilly's collaboration after it was revealed that Eli Lilly recently signed a technology transfer agreement with Sweden's biopharmaceutical company Kamurus.
Peptron announced that it received official confirmation from Eli Lilly that "the Eli Lilly substances under technical evaluation with Peptron are not the same as those selected under the technology transfer agreement with Kamurus," adding that "the technical evaluation signed with Peptron last October is proceeding smoothly as planned."
Peptron also mentioned that "Kamus's lipid-based liquid formulation 'FluidCrystal' is almost uniquely used by Kamurus worldwide as a long-lasting technology platform, and while various drugs are under development, there are still few specific results available."
It also stated, "(Kamus's platform) can be used in the body but requires about 20% organic solvent and appears to need relatively large syringes, making it difficult to consider it superior to nanoparticles in terms of patient convenience." Peptron implies that the ‘smart depot’ technology it is developing with Eli Lilly is superior.
Peptron stated, "To secure a significant competitive advantage in the obesity and diabetes medication market, Eli Lilly seems to be considering development possibilities with Kamurus only for substances and technologies that do not overlap with existing affiliates," adding that "discussions with Eli Lilly will proceed as planned."