Shares of Hanmi Pharmaceutical Co. Ltd. (128940.KS) fell 7.2% to ₩501,000 on Tuesday, paring gains from a 30% surge in the prior session.
The South Korean biotech company’s stock had climbed 29.96% on Monday, adding ₩124,500 to reach ₩540,000, following the announcement of an exclusive global licensing agreement with Genentech, a subsidiary of Roche Holdings AG. The deal covers development, manufacturing, and commercialization of HM17321, an experimental obesity treatment, outside South Korea.
Under the agreement, Hanmi received an upfront payment of $190 million, with total potential deal value reaching $2.3 billion through development, regulatory, and commercial milestones. Genentech retains worldwide rights to the drug candidate, excluding South Korea.
Tuesday’s decline reflected profit-taking after the sharp advance, with the stock trading between ₩464,500 and ₩553,000 intraday. The KOSPI index edged higher following losses in the prior session, though broader market movements did not directly influence Hanmi’s volatility.
The biotech’s three-week rally prior to the deal had lifted shares by approximately 62%, driven by investor optimism over the licensing agreement’s scale and potential.
