Biotech Stocks Rally, Woojung Bio Shaken on Deal Speculation[K-Bio Pulse]

[Kim Saemi, Edaily Reporter] On November 3, trading volume for ALTEOGEN Inc, the top-ranked company on the KOSDAQ?increased significantly, indicating a possible inflow of capital into the biotech sector. In the KOSPI market, Il Dong Pharmaceutical Co., Ltd rose sharply following analyst commentary that the stock is severely undervalued. Robotics-related stocks, including Curexo Inc., gained on the so-called “Jensen Huang effect.” Meanwhile, WOOJUNG BIO, Inc. saw wild price swings influenced by a media report from earlier in the day.

Il Dong: Undervalued Obesity Drug? Heads to BIO-Europe

According to MP Doctor (formerly MarketPoint) by KG Zeroin, Il Dong closed at 27,600 won, up 4,100 won (17.45%) from the previous session.

On November 3, Il Dong Pharmaceutical ranked sixth among the top gainers on the KOSPI. (Source: MP Doctor by KG Zeroin)

The sharp rise was likely influenced by a recent report from SK Securities, which assessed that Il Dong Pharmaceutical’s obesity treatment candidate has been significantly undervalued due to market misunderstanding. Earlier, on September 29, the company released topline results from the Phase 1 clinical trial of its oral small-molecule GLP-1RA obesity drug, ID110521156.

The data showed weight reductions of 5.5% and 6.9% in the 50 mg and 100 mg groups over four weeks, respectively. The 200 mg group achieved an average weight loss of 9.9%, with a maximum of 13.8%, confirming dose-dependent efficacy.

Lee Sun-kyung, a researcher at SK Securities, commented:

“ID110521156 has demonstrated the best safety and efficacy profile among its class, but remains severely undervalued due to market misconceptions. Once this is resolved, Il Dong’s market cap could more than double, ranging between 1.5 trillion and 4 trillion won, in line with similar pipeline licensing deals.”

Lee added that investor caution stems from failed attempts by Pfizer, Terns, and disappointing results from Roche and AstraZeneca.

“The primary reason for these failures has been liver toxicity, limiting the ability to raise dosage levels for effective weight loss. Il Dong’s drug, however, has shown improvement across all liver function indicators,” she said.

She further emphasized the drug’s potential:

“Given its effectiveness during the dosing period, ID110521156 may even surpass Eli Lilly’s oral obesity drug Orforglipron in market potential.”

Il Dong will attend BIO-Europe 2025 to hold partnering meetings for ID110521156 and its potassium-competitive acid blocker (P-CAB) peptic ulcer drug ‘Fexuprazan’. The company aims to accelerate commercialization by sharing updated clinical data.

Curexo Gains 6% on ‘Jensen Huang Effect’ and Japan Market Entry

Curexo Inc. closed at 11,140 won, up 590 won (5.59%). The stock rose alongside other robotics companies following remarks by NVIDIA CEO Jensen Huang, as well as on news of the company’s expansion into Japan.

During his visit to Korea for the APEC summit on October 30, Huang said,

“I have very good news for Korea. it will be related to artificial intelligence and robotics,” prompting increased investor interest in robotics shares.

Curexo also announced that its robotic joint surgery system CUVIS-Joint was successfully installed and used for the first time at Tachibana Hospital in Japan.

A Curexo official commented:

“This marks a critical first step in validating CUVIS-Joint’s technology in the Japanese market. It will serve as a key milestone in expanding into orthopedic surgery in Japan.”

Woojung Bio Spikes on Takeover Talks?…Companies Deny

WOOJUNG BIO, Inc. surged 562 won (29.93%) at the open, hitting the daily upper limit, before trimming gains after 9:30 a.m. The volatility followed the release of a takeover talks via PharmEdaily.

Woojung Bio headquarters building (Source: Woojung Bio)

On October 2, PharmEdaily published a premium article titled:

“[Exclusive] First-Gen Bio Firm Woojung Bio in Quiet M&A Talks with HLB”

The report was made freely available on a major portal on November 1 at 7:31 a.m., reigniting speculation that led to a sharp price surge when the market opened on November 3.

As speculation intensified, both HLB bioStep Co., Ltd. and Woojung Bio issued denials.

HLB bioStep stated:

“There are no active plans to acquire Woojung Bio. The HLB Group is focusing all resources on resubmitting its liver cancer NDA and submitting its cholangiocarcinoma application to the FDA early next year.”

Woojung Bio also clarified:

“We have never initiated any sale process.”

Elsewhere, ALTEOGEN Inc. climbed 34,500 won (7.06%) to close at 523,000 won. Some investors viewed the rally as a positive signal that liquidity may be returning to the biotech sector.