Cannaprep Therapeutic Company soars 153% on its first day of listing on KOSDAQ... Attracting attention in the biotech industry

Canap Therapeutics’ stock soared on its first day of listing on Kosdaq, attracting market attention. On the 16th, the company’s stock closed at 50,600 won, up 153% from the issue price. The intraday high reached 70,000 won, 3.5 times the issue price.

Canap Therapeutics, founded in 2019, is a biotech company specializing in new drug development, with partnerships with major Korean pharmaceutical companies such as Lotte Biotech, Green Cross, and Yuhan Corporation. In 2024, the company achieved sales of 4.251 billion won and an operating profit of 4.722 billion won, demonstrating growth potential. Moreover, in demand forecasts for institutional investors, its subscription competition rate was as high as 962.1:1, with the final issue price set at the upper limit of the desired price range of 20,000 won.

Analysts believe that the company’s performance so far reflects its technological strength and market trust. The listing is expected to further expand the company’s growth potential and help raise funds needed for new drug development.

Especially given the characteristics of the biotech industry, where new drug R&D involves long-term and costly processes, Canap Therapeutics’ stock surge is interpreted as generating market anticipation. Market experts say this price jump is not a short-term phenomenon but suggests the potential for medium- to long-term value appreciation. How the company will respond to market expectations moving forward remains highly watched.