By Kwanwoo Jun
Celltrion Inc.'s shares rallied Monday after the company released positive top-line clinical trial data on its Covid-19 treatment candidate, known as Regkirona in the industry.
Shares of the South Korean biotech company jumped as much as 6.0% to 281,500 won before paring gains to trade 5.7% higher at KRW280,500. It outperformed the benchmark Kospi's 0.1% gain.
Celltrion said its Phase 3 global clinical trial, which involved 1,315 participants in 13 countries, found that Regkirona is a safe and effective treatment candidate.
Regkirona eased severe Covid-19 symptoms in more than 70% of those patients and reduced their recovery period by up to 4.9 days during the latest clinical trial, Celltrion said.
The company said it is seeking approval for Regkirona in the U.S. and Europe. It is trying to list Regkirona as an authorized item in South Korea, after authorities granted it conditional approval earlier this year.
Write to Kwanwoo Jun at firstname.lastname@example.org
(END) Dow Jones Newswires