Alteogen's shares jumped over 8% in early trading after news broke that the U.S. Patent Trial and Appeal Board (PTAB) eased the company's litigation burden. This surge has propelled Alteogen to reclaim the top position in market capitalization on the KOSDAQ.
As of 9:58 a.m. on May 14, the Korea Exchange reported that Alteogen's stock was trading at 383,500 won, up 29,500 won (8.33%) from the previous trading day.
The company's market capitalization now stands at 20.53 trillion won, surpassing EcoPro BM's 19.66 trillion won to take the lead in the KOSDAQ rankings.
This development follows the PTAB's ruling on May 12 (local time), which invalidated a U.S. patent held by Halozyme. Analysts believe this decision could favor both Alteogen and MSD in ongoing patent infringement lawsuits.
Eom Min-yong, a researcher at Shinhan Investment Corp, predicted that the PTAB's ruling would lead to the dismissal of Halozyme's patent infringement lawsuit in U.S. civil court, as the patent in question has been invalidated.
He added that with the invalidation of Halozyme's patent, the ALT-B4 patent is now secured until 2043, which is expected to enhance its value. Consequently, he raised his target price for Alteogen from 570,000 won to 620,000 won.
* This article has been translated by AI.
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