Shares of Alteogen (196170.KQ), the largest bio company by market capitalization on the KOSDAQ, are surging more than 10%. Analysts attribute the buying pressure to expectations of an additional technology transfer.
According to the Korea Exchange, Alteogen shares were trading at 372,500 won as of around 2 p.m. Tuesday, up 39,500 won, or 11.86%, from the previous session. The stock soared as high as 375,500 won during intraday trading.
After opening higher, the stock pared its gains and briefly turned negative before sharply expanding its advance again. Reports that Alteogen's negotiations for an additional technology export had entered the final stages appeared to stimulate buying.
According to the bio industry, Alteogen CEO Jung Tae-yeon told reporters at the "2026 BIO International Convention" (BIO USA) held in San Diego that the additional technology export negotiations underway with global pharmaceutical companies had entered the final stages.
