[Alpha Biz= Paul Lee] Hanall Biopharma announced on Monday that it has decided to repurchase its own shares worth 3.2 billion won.
The company plans to acquire 110,000 shares, which accounts for approximately 0.21% of the total issued shares. The repurchase will take place through open market transactions on the Korea Securities Exchange.
Based on its recent clinical data, the company is preparing to apply for product approval in Japan and plans to commercialize batoclimab in the Japanese market.
A Hanall Biopharma spokesperson stated, "Although batoclimab has demonstrated superior efficacy compared to competitor products and proven its competitiveness as a best-in-class treatment, the stock price has fallen excessively. We aim to restore market confidence and increase shareholder value through the share repurchase."
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
