HLB Falls to Daily Limit on FDA Rejection, KOSDAQ Market Cap Ranking Plunges from 10th to 21st

According to Maeil Gyeongje, HLB closed at the daily limit of 25,650 Korean won on July 13 after the U.S. Food and Drug Administration rejected its approval for the combination therapy of ribociclib and camrelizumab, marking the second consecutive trading day decline. The stock has lost over 50% in value across two days. The sharp decline pushed HLB's KOSDAQ market capitalization ranking from 10th place to 21st in a single trading day.

The biotech sector collapse extends beyond HLB. As of July 13, only two biotech companies remain in KOSDAQ's top 10 market cap rankings—Alteo Genomics and Kolon Tissue Gene—down dramatically from seven companies at year-end 2025, as semiconductors absorb significant capital outflows.