The new drug development corporation HLB Therapeutics recorded a lower limit on the morning of the 24th. The impact was due to its U.S. subsidiary, Regentree, failing to pass the European phase 3 clinical trial for its neurotrophic keratitis (NK) treatment.
As of 9:23 a.m. on the same day, HLB Therapeutics shares were trading at 6,370 won, down 29.92% (2,720 won) from the previous trading day. The stock price went directly to the lower limit shortly after the market opened.
HLB Therapeutics announced that its U.S. subsidiary Regentree did not secure statistical efficacy results in the European phase 3 clinical trial topline summary (evaluation results submitted to the regulatory authorities) for the neurotrophic keratitis (NK) treatment 'RGN-259.'
Regentree received the topline primary endpoint results from the clinical research organization (CRO) that conducted the European phase 3 trial the previous day.
However, no statistically significant difference was observed in the cure rates between the RGN-259 dosing group and the placebo group four weeks later, which was the primary evaluation variable.