HanAll Biopharma (009420.KS) hit the daily upper price limit in early trading after the company announced positive clinical trial results for its drug under development.
According to the Korea Exchange, HanAll Biopharma was trading at 50,900 won as of 9:36 a.m. Tuesday, up 29.85% from the previous trading day.
The company announced earlier in the day that its autoimmune disease antibody drug candidate "imvotamab (IMVT-1402)" demonstrated clinically meaningful treatment effects in patients with refractory rheumatoid arthritis who had not responded to existing therapies.
Immunovant, HanAll Biopharma's global partner, disclosed interim analysis results from the open-label period (Week 16) of a clinical trial in patients with refractory rheumatoid arthritis during its quarterly earnings announcement on Monday local time. According to the released data, at 16 weeks after administration of imvotamab, the ACR20 score, an indicator measuring patient symptom improvement, reached 72.7%, while the ACR50 score, indicating moderate improvement, was 54.5%. The drug also achieved a response rate of 35.8% on ACR70, which indicates relief from severe symptoms.
"We have elicited a meaningful treatment response in patients who had no remaining treatment options," a HanAll Biopharma official said. "No new drug-related safety concerns were observed in this trial."
