SK Biopharm Introduces 1.1 Trillion Won Epilepsy Drug Technology; Construction Stocks Eye Dual Momentum from Nuclear Power & Reconstruction

The scale of the contract is also known to be significant, which is highly meaningful as it represents a new pipeline expansion following its existing epilepsy treatment, Xcopri.

Notably, SK Biopharm directly acquiring new drug candidates and platforms, rather than a big pharma company, is considered an unusual case in the domestic pharmaceutical and biotech industry and is expected to have a positive impact on future corporate value re-evaluation.

Recently, expectations for a ceasefire agreement between Iran and the US have created a positive atmosphere, with the Middle East reconstruction theme acting as a market catalyst. This positive sentiment is expected to contribute to construction stocks making a turnaround based on the dual momentum of nuclear power and reconstruction.

This made it difficult for purchasing funds to flow into semiconductor-related stocks in today's market.

There have been instances of profit-taking (sell-on) after Nvidia's earnings announcements in the past, leading investors to adopt a cautious stance due to this learned behavior. However, volatility in the derivatives market is understood to have somewhat eased compared to the past.

This is interpreted as a strong signal that the US government will not tolerate instability in the long-term bond market.

This move by the Treasury reinforces the view that growth stocks or technology stocks could actually present opportunities even in a high-interest rate environment. It is a time when a different approach to investment strategy is needed.

Analysis suggests that interest rate-sensitive sectors, such as the construction industry, which can benefit from interest rate cuts, may shift into a favorable short-term phase.

Conversely, South Korea has a strategy to secure leadership by promoting its APR1400, raising the possibility of conflict. In this process, there is also potential noise that the role of Korea Hydro & Nuclear Power (KHNP) could be limited.

For this reason, there is a tendency to prefer construction companies over equipment manufacturers.

In particular, large construction companies like Hyundai E&C are considered advantageous because their nuclear power construction capabilities, combined with Middle East reconstruction issues, allow them to diversify risks and secure additional growth engines.

The start of US-China 1.5-track dialogue is expected to lead to discussions on key issues. This could act as an important trigger for easing the macro environment.

Furthermore, with the return of US diplomatic personnel to the Middle East, expectations for an easing of the Iran situation are rising. This has reduced the possibility of physical conflict and even hints at the potential for easing restrictions on Russian and Iranian crude oil, which is expected to reduce overall market uncertainty.

As expectations for a relaxed macro environment grow, a change in investment sector selection strategy is deemed necessary. If the overall macro situation improves, high-growth sectors such as biotech, semiconductors, and AI infrastructure are expected to show strength.

Conversely, sectors less directly linked to the macro environment, such as cosmetics, may show relative weakness. Therefore, adjusting portfolio weight towards sectors that can benefit from macro easing can be a realistic strategy for investors.

The company has established a key supply chain for Samsung Electronics' robot and humanoid businesses, and has secured cost competitiveness through integrated solution building with its subsidiary DKT.

This expansion of its robot business is expected to act as a new growth engine for BH. Additionally, the planned launch of Apple's foldable phone in the second half is expected to significantly contribute to BH's performance improvement in the third and fourth quarters. An increase in the supply of Apple-bound flexible printed circuit boards (RFPCB) is anticipated.

These factors are analyzed as major drivers that will diversify BH's revenue structure and lead to stable growth. Therefore, there are high expectations in the market for BH's future performance and corporate value appreciation.

This is interpreted as a strategy to mitigate the risk of dependence on its existing epilepsy treatment, Xcopri, as a single product, and to secure sustainable growth engines.

Opacalm is currently undergoing global Phase 2/3 clinical trials, making rapid commercialization highly likely. This technology introduction is expected to enhance SK Biopharm's new drug development capabilities and increase its competitiveness in the global market.

SK Biopharm's newly introduced epilepsy drug 'Opacalm' utilizes the KV7 potassium channel activation mechanism. This mechanism directly suppresses excessive electrical excitation in brain nerve cells, acting as a 'brake' for neurons.

That is, it operates by regulating hyperexcitation in the brain through potassium ion efflux before a seizure occurs, thereby blocking seizures. This is a differentiated approach from existing epilepsy treatments and is receiving high technical value and market expectations as a next-generation epilepsy treatment.

Opacalm shows excellent efficacy in patients with intractable and drug-resistant epilepsy who do not respond to existing drugs, and is evaluated to have improved on the side effects of first-generation drugs.

The KV7 activation mechanism has the advantage of minimizing side effects on normal cells by directly inhibiting nerve excitation while maintaining high selectivity. This is also expected to significantly contribute to improving patients' quality of life.

SK Biopharm expects to create complementary synergies through co-administration of the existing Xcopri and the newly introduced Opacalm. This strategy strengthens its epilepsy treatment portfolio while effectively resolving the risk of dependence on a single product.

The ability to leverage its existing network of specialists and medical professionals in the US to boost Opacalm's market penetration is also considered a strength. This will allow SK Biopharm to establish a stable growth foundation and further enhance its corporate value.

If the macro environment eases, these undervaluation factors are expected to be resolved, creating an opportunity for stock price rebound.

This appears to be largely driven by market sentiment rather than specific negative news.

Therefore, rather than approaching semiconductor equipment stocks from a short-term perspective, the view is that they maintain high potential as a leading sector in the second half of the year. The current adjustment could even be an opportunity for low-price buying, and a long-term holding strategy is recommended.