Bioneer (064550.KQ) surged to its daily price limit as buying orders poured in following news that its hair-loss treatment research had been published in a U.S. academic journal. An estimated 10 million people in South Korea suffer from hair loss.
According to the Korea Exchange, Bioneer shares were trading at 9,190 won, up 2,120 won, or 29.99%, from the previous session. The stock opened sharply higher and then climbed rapidly to the daily limit. Analysts attributed the surge to news that the hair-loss treatment research had produced results.
Bioneer said the same day that the results of a human trial confirming the potential application of a next-generation Cosmerna technology in scalp and hair environments possibly linked to stress-related hair loss had been published in the Journal of the American Academy of Dermatology (JAAD), the official journal of the American Academy of Dermatology.
JAAD is the official journal of the American Academy of Dermatology (AAD) and is recognized worldwide as a leading authority in dermatology. It is also regarded as a major journal where dermatology researchers and clinicians around the world present key findings.
According to Bioneer, the study was a double-blind, controlled human trial conducted over 24 weeks, in which a total of 72 subjects with mild-to-moderate androgenetic alopecia were randomly assigned to a placebo group, a low-concentration group and a high-concentration group. In the study, a topical formulation targeting DKK1 — known as a key factor in regulating hair follicle growth and regression — was applied by specialists once every two weeks for a total of 12 applications.
DKK1 is a factor involved in regulating the growth and regression of hair follicles and has been studied in relation to the process by which hair gradually thins and weakens. In particular, prior research published in an international dermatology journal has suggested that changes in cortisol and glucocorticoids — representative hormones associated with the stress response — may be involved in DKK1 expression within hair follicles and in changes to the hair growth cycle.
The main endpoints included changes in hair density, hair thickness, blinded investigator assessment and safety. The study found that at 24 weeks, both the low-concentration and high-concentration groups showed a statistically significant improvement in hair density compared with the placebo group. Hair thickness also tended to improve with concentration, with more pronounced improvement observed in the high-concentration group.
Separately, President Lee Jae-myung has instructed the Ministry of Health and Welfare to review extending national health insurance coverage to hair-loss treatment during a policy briefing. Lee also pledged health insurance coverage for hair loss during the 20th presidential election.
