The anticancer drug development corporation ABION has reached the daily price limit (the upper limit of the daily price range) for three consecutive days after securing a large technology transfer contract.
ABION shares were traded at 9,880 won on the KOSDAQ market at 9:14 a.m. on the 26th. The stock price rose by 30% (2,280 won) compared to the previous day. ABION's closing price on the 23rd was 4,505 won, more than doubling in just three trading days.
ABION announced on the 24th that it had signed a joint development and technology transfer contract worth a total of 1.8 trillion won for five cancer target proteins using the antibody therapeutic candidate 'ABN501'.
ABION did not disclose the counterpart to the contract, but it is believed that a preliminary agreement (Term Sheet) for technology transfer was signed in April with a U.S. antibody-drug conjugate (ADC) corporation that completed preclinical trials of ABN501. The industry estimates that this has led to a formal contract.