OliX, Icure IPOs Test Korean Biotech Sentiment Amid Samsung Uncertainties
OliX Pharmaceuticals and Icure are poised to be first biotech firms to launch IPOs this year amid uncertainties over ongoing accounting issues at Samsung BioLogics and possible tougher accounting reviews on IPO seekers.
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In a move to harmonize the pharma and biotech industry's accounting practices with global trends, South Korea’s financial authority will examine companies’ R&D cost-related accounting to check for possible ‘distortions’.
Faced with the risk of losing their investment from a possible stock delisting amid prosecutors’ probes into company’s management, SillaJen’s individual minority shareholders are demanding the Korea Exchange resume trading of the biotech’s stock, in a rare united move.
Also, deals involving Sumitomo Dainippon, Tolero, Boston Biomedical, Zai Lab, Turning Point, SciClone, EpicentRx, Yuhan, GI Innovation, Takeda, Carmine, HitGen, Morphic, CStone and Burning Rock.