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[Kim Saemi, Edaliy Reporter] On April 17, South Korean biotech stocks saw mixed performances as investors reacted to clinical trial outcomes BRIDGE BIOTHERAPEUTICS, INC. plunged for a third straight session following the failure of its lead drug candidate while Inventage Lab, Inc. and TiumBio Co. Ltd. surged on growing anticipation around upcoming data releases.

Top KOSDAQ Stock Gainers Ranked On April 17 [Source=KG Zeroin’s MP Doctor]

Bridge Bio Extends Losses on Phase 2 Failure

Bridge Biotherapeutics closed limit down for the third consecutive day falling 3,080 won or 30%, to 7,200 won according to KG Zeroin’s MP Doctor. The stock has dropped 66.8% from an intraday high of 9,280 won on April 14.

BRIDGE BIOTHERAPEUTICS’s Stock Trends [Source=KG Zeroin’s MP Doctor]

Investor enthusiasm had pushed the stock up 2.1 times since the start of the year fueled by hopes for BBT-877 an investigational treatment for idiopathic pulmonary fibrosis. The company had pressed ahead with the trial despite being placed on a regulatory watch list in 2023.

But after markets closed April 14, Bridge disclosed that the Phase 2 trial failed to meet its primary endpoint. The result derailed the company’s plan to license out the drug this year and ease financial stress. The heavier blow: the company had concentrated much of its R&D resources on BBT-877.

“Bridge is in a tough spot,” said an industry official. “They put all their eggs in one basket.”

Inventage Lab Rallies on Anticipation of Obesity Drug Data

Inventage Lab shares surged 4,000 won, or 23.5%, to 21,000 won, the top gainer on the KOSDAQ bio-stocks on April 17.

Investors are betting on upcoming data for a once-weekly oral GLP-1 obesity drug developed using the company’s IVL-DrugFluidic platform. Inventage Lab plans to unveil the data at an April 23 investor meeting hosted by Kiwoom Securities in Seoul.

“There seems to be some anticipation about the IR presentation” a company official said. “It’s going to be a compelling topic.”

TiumBio Jumps on New Strategy, Overhang Resolution

TiumBio rose 650 won or 19.8%, to 3,930 won driven by a newly announced R&D strategy and expectations of insider share purchases that could resolve overhang concerns.

The company introduced a new approach called “Smart Biologics,” aimed at combining small molecule and biologic drug expertise to drive innovation. It also plans to release Phase 2 data for its lead candidate, TU2670 (relugolix), in uterine fibroids during the first half of the year and accelerate global licensing discussions.

Since mid 2023, TiumBio has been developing new bispecific antibody and antibody drug conjugate (ADC) platforms. CEO Hoon Taek Kim is leading the internal task force and steering the company into ADCs targeting rare diseases a niche departure from traditional oncology ADCs.

“Through Smart Biologics, we aim to develop innovative drugs for rare and intractable diseases where there are no effective treatments,” a company spokesperson said.