[Special Stock] Haitron Hits Upper Limit for Four Consecutive Days on Expectations for New Drug Development

Haitron has continued its four-day streak of hitting the upper price limit amid expectations for new drug development.

As of 9:28 a.m. on the 12th, Haitron is trading at 2,720 won, up 625 won (29.83%) from the previous day. With the upper price limit continuing for four days, the stock price, which was in the 950 won range on the 6th, has jumped to the 2,700 won range. The Korea Exchange designated Haitron as an investment warning stock due to the sharp rise in its stock price the previous day.

The stock price surge is interpreted as being driven by expectations for new drug development through large-scale fundraising. Haitron plans to propose the appointment of Shin Dong-seung, CEO of GPCR, and Heo Seong-ryong, CFO of GPCR, as inside directors at the extraordinary general meeting of shareholders scheduled for the 23rd of next month. Along with this, Haitron also decided on the 6th to issue convertible bonds (CB) worth 30 billion won. It plans to use 25 billion won for acquiring securities of other companies and 5 billion won for business acquisition funds. Among these, the counterparty for the acquisition of securities of other companies is listed as GPCR, leading to speculation that Haitron will embark on new drug development.

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