무료 바카라 게임 Bio converts around 5.78 million preferred shares to common stock… “Overhang concerns overstated”

[by Sung, Jae Jun] 무료 바카라 게임 Bio announced on July 14 that it has converted all 5,778,196 convertible preferred shares (CPS) held by the Korea Development Bank, Atinum Investment, InterVest, Hana Financial Group, and Company Partners into common shares. The newly converted shares are scheduled to be listed on July 28.

The company stated that market concerns regarding a potential overhang from the CPS conversion are excessive. 무료 바카라 게임 Bio clarified that it has coordinated with institutional investors in advance to minimize any market impact and emphasized that its core operations, including future technology commercialization and clinical trials, are progressing as scheduled.

In July 2024, ABL Bio announced its plan to develop a next-generation dual-antibody antibody-drug conjugate (ADC) and secured funding through a third-party allocation paid-in capital increase totaling KRW 140 billion (approximately USD 101.1 million). At the time, investor participation was reportedly driven by a strong evaluation of the mid- to long-term growth potential of dual-antibody ADCs. Currently, the company is preparing to submit investigational new drug (IND) applications with the goal of entering Phase 1 clinical trials in the United States for ‘ABL206 (development code)’ and ‘ABL209,’ both of which remain in the preclinical development stage.

Conversely, ABL Bio is actively advancing technology transfer and commercialization efforts centered on ‘Grabody-B,’ its proprietary blood-brain barrier (BBB) shuttle platform designed for the treatment of neurodegenerative diseases. In April, the company signed a technology transfer agreement valued at up to KRW 4.1 trillion (approximately GBP 2.14 billion) with the multinational pharmaceutical company GlaxoSmithKline (GSK).

In its immunotherapy pipeline, ‘ABL111 (Givastomig),’ a 4-1BB-based dual antibody, is demonstrating promising preliminary results in an ongoing Phase 1b combination therapy clinical trial, drawing attention for the therapeutic potential and versatility of the platform.

“Following discussions with institutional investors, we concluded that a full conversion of all CPS into common stock was the most effective approach to alleviate overhang concerns. A partial conversion could leave the remaining shares as a potential burden on the stock price, so we opted for a lump-sum conversion,” stated Lee Sang-hoon, CEO of ABL Bio. “With our core business advancing as planned, we will accelerate focused research and development (R&D) efforts to position ABL Bio as a leading global biotechnology company,” he added.