Kolong Tissue Gene Falls Limit-Down for Three Days After TG-C Phase 3 Failure, Down 85.87% in Two Months

According to Maeil Business Newspaper, Kolong Tissue Gene fell limit-down for three consecutive days on July 23, dropping 29.95% to 21,050 Korean won. The stock has plummeted 85.87% from its 52-week high of 149,000 won recorded on May 12, following the failure of its TG-C cell gene therapy for osteoarthritis in U.S. Phase 3 trials announced on July 20.

The Phase 3 analysis showed pain relief and joint function improvement at the 12-month mark based on WOMAC and VAS endpoints, but failed to achieve statistical significance. Following the results, Korea Investment & Securities downgraded its rating from Buy to Neutral, citing reduced confidence in clinical credibility and lower market share projections.