In today’s briefing:
- The Pinkfong Company IPO Preview
- Alteogen (196170 KS): Significant Commercial Success of ALT-B4 Is On Card
The Pinkfong Company IPO Preview
- The Pinkfong company (creator of the Baby Shark brand) is getting ready to complete its IPO in KOSDAQ in 4Q 2025.
- The company plans to issue 2 million shares in this listing. The IPO price range is from 32,000 won to 38,000 won per share.
- At this price range, the expected expected market cap of the Pinkfong company ranges from 463 billion won (US$331 million) to 550 billion won ($393 million).
Alteogen (196170 KS): Significant Commercial Success of ALT-B4 Is On Card
- FDA has cleared Merck’s Keytruda subcutaneous injection, which has been developed using Alteogen Inc (196170 KS)’s human hyaluronidase ALT-B4. EMA’s CHMP also recommended approval of subcutaneous Keytruda.
- Merck expects 30–40% of Keytruda IV sales to be converted to SC by 2028. Accordingly, Alteogen is expected to secure over KRW1T in annual royalties in the long term.
- Keytruda SC launch in the U.S. and EU, additional deals for ALT-B4, and Enhertu SC Phase 1 trial update are the key upcoming catalysts for Alteogen.
💡 Before it’s here, it’s on Smartkarma
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