Celltrion Pharm now third-largest market cap on Kosdaq Celltrion Group affiliates post disappointing earnings last week

Translated by Kim So-in 공개 2022-05-17 08:02:03

이 기사는 2022년 05월 17일 08:01 더벨 유료페이지에 표출된 기사입니다.

South Korea’s Celltrion Pharm was pushed down to the country’s third largest market capitalization company on the secondary Kosdaq bourse after Celltrion Group affiliates reported disappointing earnings last week.

With Celltrion Group announcing its disappointing earnings, Celltrion Pharm’s market cap decreased by 370 billion won ($288 million), while HLB became the second-largest firm on the kosdaq market.

The combined market cap of the top 20 Kosdaq-listed pharmaceutical, bio and healthcare companies stood at 37.36 trillion won based on the closing price on Friday, according to data compiled by the bell. The market cap decreased by 129 billion won from the previous week.

Shares of three Celltrion Group affiliates slid last week. Celltrion Healthcare closed at 54,700 won, the lowest price in 52 weeks. Its market cap decreased by 8.8% to 8.65 trillion won. Celltrion Pharm also closed at the lowest price in 52 weeks, bringing its market cap down by 365.2 billion won to 2.89 trillion won. The company came down to the third largest company by market cap on the Kosdaq market.

Celltrion Inc said in a regulatory filing that it posted 142.3 billion won in operating profit for the first quarter, down 31.5% from a year ago. Revenue rose 20.6% to 550.6 billion won. The results were worse than market expectations of 197.9 billion won and 526.5 billion won, respectively.

HLB took second place, beating Celltrion Pharm, as it has taken a step closer to the global commercialization of its anticancer treatment Rivoceranib. The company last week announced that it secured statistical significance in Phase 3 global clinical trials of the drug.

Shares of HLB jumped 42% last week on the announcement, bringing its market cap to 4.05 trillion won, up by 1.34 trillion won. HLB Life Science’s market cap also increased by 334.2 billion won to become the ninth-largest company on the Kosdaq.

Market caps of Seegene, Naturecell and L&C Bio increased by 60 billion won, 34.5 billion won and 97.5 billion won, respectively, last week. Market caps of Alteogen, Caregen, ABL Bio decreased by 183.4 billion won, 56.9 billion won and 111.9 billion won, respectively. (Reporting by Eun-jin Choi)
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