▲ Financial Supervisory Service (FSS)
The Financial Supervisory Service (FSS) announced today (August 24) that it will hold a series of four briefing sessions tailored to different market participants next month to ensure the early settlement of the improved pharmaceutical and biotech disclosure measures in the market.
To provide guidance on practical considerations tailored to the characteristics of each participant group, the FSS plans to divide the briefings into four sessions: for KOSDAQ-listed companies (September 1), underwriters (September 8), companies preparing for listing (September 15), and KOSPI-listed companies (September 21).
According to the comprehensive improvement plan for pharmaceutical and biotech disclosures announced by the FSS at the end of July, companies in these sectors must detail core assumptions used in calculating public offering prices when going public.
They are required to specifically disclose expected market size, clinical trial success probabilities, and approval and review risks.
For regular and ad-hoc disclosures, the scope of disclosure will also be expanded to include the scale and structure of technology transfer agreements, and explanations of technical terms must be added.
The FSS explained that the objective of these briefing sessions is to ensure that market participants fully familiarize themselves with these improved disclosure standards, thereby minimizing administrative burdens caused by correction requests and delays in fundraising schedules.
The disclosure guidelines provided during the sessions will also be posted on the FSS website at a later date for relevant companies to use in their disclosure operations.
(Photo: Yonhap News)
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