pharm edaily

[Lim Jeong-yeo, Edaily Reporter] Bridge Biotherapeutics shares continued to plunge for the fifth consecutive trading day on Monday, triggered by less-than-desired results from a Phase 2 clinical trial. Sinsin Pharmaceutical and Psomagen each gained over 20%, on back of political sentiments and a contract deal.

Bridge Biotherapeutics Hits 5-Day Limit-Low

According to KG Zeroin’s MP DOCTOR (formerly MarketPoint), shares of Bridge Biotherapeutics closed at 1,515won on Monday, down 29.86% (645won) from the previous trading day. This is the sharpest drop possible on a South Korean bourse where the daily price fluctuation range has a 30% cap.

Bridge Biotherapeutics’ falling streak began after the company disclosed that its key pipeline BBT-877 failed to show statistical significance in its Phase 2 trial. Its shares, which closed on the 14th at 9,000 won, slipped to 1,515 won in just five trading days.

Earlier this year, Bridge Biotherapeutics was invited to the main track of the annual J.P. Morgan Healthcare Conference in the U.S., where it shared progress on the BBT-877 Phase 2 study. The company also revealed plans to enter Phase 3 trials by the first half of next year in collaboration with a global big pharma, targeting over 1,000 participants.

The Phase 2 interim data presented at the conference had drawn strong interest from industry scientists and investors alike, which makes the final results all the more an unsuspected blow.

(KG Zeroin MP Doctor)

Lee Jung-kyu, CEO of Bridge Biotherapeutics, told Edaily on Monday that he himself had felt dazed after seeing the data.

Lee said, “This Phase 2 trial involved 130 subjects, with around 60 in each subset group. Big pharmas accredited the trial design as being However, the data was disappointing due to high standard deviation.”

He added that “We have firmly established the safety profile of BBT-877 and will look for ways to continue developin this autotzxin inhibitor for both IPF and other indications.”

Bridge Biotherapteuics plans to cut costs and raise capital to avoid delisting due to capital impairment. Specific details about the fundraising scale or method are yet to be decided.

Sinsin Pharmaceutical Gains on Political Outlook

Sinsin Pharmaceutical, a company pursuing microneedle and patch-based R&D, closed at 7,490 won up 25.67%(1,530 won) from the previous day. The stock surged following a campaign pledge from Lee Jae-myung, a presidential candidate from the Democratic Party, who promised to relocate the presidential office to Sejong City and invest in the bio industry. Sinsin Pharmaceutical is headquartered in Sejong.

Lee is quoted to have said “This year’s government R&D spending accounts for only 4.4% of total expenditure(which is less that what is needed)” and pledged to prioritize key strategic technologies such as AI, semiconductors, batteries, biotech/vaccines, hydrogen, and future mobility.

(KG Zeroin MP Doctor)

A Sinsin Pharmaceutical representative said “No company has yet received formal approval in the microneedle pharmaceutical segment. Multiple companies, including Sinsin Pharmaceutical, are working towards product launches.”

He added, “The stock surge today appears to be largely rooted in the company’s location being in Sejong.”

Known for its pain relief patches, Sinsin Pharmaceutical reports annual consolidated sales around 100 billion won, with an operating margin in the 6% range. In 2024, its patch products generated 58.8 billion won in sales, accounting for 55.36% of total revenue. Its topical liquid products contributed 20.1 billion won, another 18.9%.

The company is currently developing a next-generation topical osteoarthritis treatment in the preclinical stage.

Psomagen Buoyed by Contract with Chan Zuckerberg Initiative

Psomagen, the U.S. subsidiary of genome analysis firm Macrogen, closed up 19.88%(680 won) at 4,100 won, buoyed by the news of a newly cinched contract with a renowned non-profit organization.

Psomagen announced on Monday that it had secured its first single-cell analysis service contract as part of the “Billion Cells Project”, launched by the Chan Zuckerberg Initiative (CZI) for 2025. The news was first reported by PharmEdaily <[Exclusive] Psomagen Secures Single-Cell Analysis Service Contract from Facebook‘s Zuckerberg Foundation>.

Founded in late 2015 by Facebook founder Mark Zuckerberg and his wife Priscilla Chan, CZI is a nonprofit organization funded with 99% of their Facebook shares.

The Billion Cells Project is a global effort to generate 1 billion cell datasets to accelerate AI model development in biology.

Psomagen CEO Hong Soo said, “We aim to provide the best single-cell analysis services to secure additional contracts from the Billion Cells Project.”

(KG Zeroin MP Doctor)