Hanmi Pharmaceutical’s shares fell 7.2% to ₩501,000 on Tuesday, paring a sharp advance from the prior session after the company secured a $2.3 billion licensing deal with Genentech for its experimental obesity drug HM17321.
The stock had surged nearly 30% on Monday to ₩540,000 following the announcement of the exclusive global licensing agreement, which grants Genentech—Roche’s U.S. subsidiary—rights to develop, manufacture, and commercialize HM17321 outside South Korea. The deal includes a $190 million upfront payment, accounting for roughly 8% of the total potential contract value, with the remainder tied to development, regulatory, and commercial milestones.
The two-day swing reflected volatile trading, with Hanmi’s shares ranging between ₩464,500 and ₩553,000 intraday on Tuesday. The pullback follows a three-week rally that saw the stock gain approximately 62%, driven by anticipation of the Genentech agreement.
South Korea’s benchmark KOSPI index edged higher on Tuesday, recovering marginally after Monday’s losses. The deal’s structure—limiting Genentech’s commercial rights to markets outside Korea—left the drug’s domestic prospects intact, though the sharp valuation shift underscored investor sensitivity to milestone-driven biotech licensing news.
Hanmi’s shares, listed under ticker 128940, have historically exhibited volatility tied to clinical and licensing developments for its pipeline candidates.
