Peptron Shares Drop 25.11% as Eli Lilly Evaluation Ends
Peptron disclosed that its SmartDepot technology evaluation period with Eli Lilly ended without a commercialization contract.
Peptron announced on its website that the technology evaluation period with Eli Lilly for its SmartDepot platform ended as of that day. The company's shares fell 25.11% to 97,800 won in early trading on the Korea Exchange.
Peptron stated that the end of the technology evaluation period means the joint research and evaluation procedures under the evaluation agreement were completed. The company added that the conclusion of the evaluation does not mean the end of possible commercialization cooperation between the two companies.
Peptron also said it cannot currently disclose the specific method and timing of follow-up cooperation.
Earlier agreement and market reaction
In 2024, Peptron signed a non-exclusive technology evaluation agreement with Eli Lilly to apply its long-acting drug delivery platform SmartDepot to Lilly's peptide drugs. The company's shares had fallen 25.80% in the aftermarket the previous day. The latest decline extends losses following the disclosure that the evaluation ended without a commercialization contract.
Quick answers
How much did Peptron shares fall?
Peptron shares fell 25.11% to 97,800 won in early trading on the Korea Exchange.
What does the end of the evaluation mean for Peptron and Eli Lilly?
Peptron said the joint research and evaluation procedures under the evaluation agreement were completed, but that this does not mean the end of possible commercialization cooperation between the two companies.
When did Peptron sign the agreement with Eli Lilly?
In 2024, Peptron signed a non-exclusive technology evaluation agreement with Eli Lilly to apply its SmartDepot platform to Lilly's peptide drugs.