SillaJen Minority Shareholders Unite, Call For Trade Resumption

See Suspension As Unnecessary, Despite Probes

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.

Money and handcuffs — Exchange Shifting Responsibility To Innocent Minority Shareholders? • Source: Shutterstock

SillaJen, Inc.’s minority shareholders have urged the Korea Exchange to immediately resume the trading of stock in the South Korean biotech, whose management is being probed by prosecutors for alleged embezzlement and breach of duty, in a bid to protect the company’s 170,000 small investors and to avoid disruptions to the company’s ongoing clinical research programs with foreign partners.

Pexa-Vec (pexastimogene devacirepvec) is one SillaJen asset undergoing trials, in renal cell carcinoma, solid tumors, colorectal cancer and melanoma and...