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[Alpha Biz=(Chicago) Reporter Paul Lee] Former Helixmith founder Kim Sun-young and CSO (Research and Development General Manager) bought Helixmith shares in the market for the first time in more than five years. He suddenly increased his stock at a time when he stepped down as the largest shareholder by selling his management rights. The move came shortly after news broke that the U.S. clinical trial of VM202 DPN (diabetesic neuropathy), which was a major pipeline, failed again.
Helixmith announced on the 11th that former CEO Kim Sun-young bought a total of 4,000 shares in the market four times on the 4th and 8th. It's worth 16.01 million won. Although it is not large, it is noteworthy that former CEO Kim has increased Helixmith shares in more than five years. Former CEO Kim has only sold Helixmith shares since May 2018 but did not buy them. In particular, his spouse Kim Young-joo and son Kim Hong-geun also participated in the purchase. Kim Young-joo bought 7,000 Helix Smith shares (27.86 million won) eight times on the 4th, 5th, and 8th, and Kim Hong-geun bought 2,500 shares (9.88 million won) twice on the 4th.
The Engineis DPN is once the main pipeline that led Helix Smith's market capitalization to reach KRW 4 trillion. However, in September 2019, Helix Smith's share price fell as it failed in phase 3 clinical trials in the US. Shares of Helix Smith, which stood at 170,000 won, fell to 60,000 won in a week. Since then, Helix Smith has named the clinical trial phase 3-1, and has challenged phase 3 again by dividing it into phase 3-2 and phase 3-2b. The final results of the clinical trial are expected to be available by the end of 2022. However, the schedule did not go as expected and eventually failed to meet the goal.
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
