“Excessive decline”: Second-largest shareholder buys ₩4.6 billion worth of shares... Alteogen rebounds in the 5% range [Stock Now]

[Financial News] Alteogen Inc. is rebounding after plunging 16% the previous day. Concerns that U.S. drug-price regulations could weaken profitability weighed on the share price, but the view that additional purchases by the second-largest shareholder and continued demand for conversion to subcutaneous (SC) injections will support investor sentiment appears to be bolstering confidence.
According to the Korea Exchange, as of 10:54 a.m. on the 10th, Alteogen Inc. was trading at 177,100 won, up 8,700 won (5.17%) from the previous trading day. The stock turned higher after falling 5.20% on the 6th and 16.01% the previous day.
Hyeong In-woo, CEO of Smart & Growth and Alteogen Inc.’s second-largest shareholder, said today that he and related party Yeom Hye-yun had bought an additional 27,000 shares of Alteogen Inc. over two days starting on the 9th for approximately 4,619,470,000 won. Hyeong said, “I judged the recent decline in the share price to be excessive and bought additional shares,” adding, “I hope this will help, even a little, with the share price’s recovery.”
The expansion of the scope of U.S. drug-price negotiations is cited as a factor behind the recent weakness. Concerns have emerged that this could also weigh on Alteogen Inc.’s revenue linked to sales of Keytruda SC, as qualifying subcutaneous (SC) formulations are to be considered alongside existing drugs when determining which drugs will be subject to negotiations after 2029. However, analysts say the advantages of SC formulations—which reduce administration time and improve convenience for patients and medical staff—remain valid.
Jeong I-su, a researcher at IBK Securities, said, “There has been no change in the short-term earnings outlook through 2028,” adding, “Considering demand to switch existing products to SC formulations and the potential to expand the applications of new pipelines, the current share price has considerable upside.” 

[email protected] Bae Han-geul Reporter