[EQUITIES] ‘TissueGene lucrative long-term stock pick’
[THE INVESTOR] Investors should consider mid- to long-term investment in TissueGene, which will be floated on Nov. 6, said Mirae Asset Daewoo on Oct. 13.
The bio company is developing Invossa, the world’s first cell and gene therapy for degenerative arthritis, which will be introduced in the domestic market soon, said analyst Kim Tae-heui, adding that the drug candidate has been approved for third-phase clinical trials in the US as well, aiming to launch there in 2023.
Invossa could create a new market as it could delay the artificial joint operation for late stage patients, noted the analyst. The timing of its launch in developed countries, however, is still unpredictable, cautioned Kim.
The total market value will be between 1.01 trillion won (US$894.04 million) and 1.71 trillion won, according to the securities firm, but did not suggest any rating or target price.
By Hwang You-mee (firstname.lastname@example.org)