On the 29th, Il-Yang Pharmaceutical announced that it “has not exaggerated clinical trial results” regarding the ongoing police investigation on the company’s COVID-19 drug candidate ‘Supect.’

This announcement was made in response to one media report that Il-Yang Pharmaceutical is being investigated for exaggerating the clinical trial results for its COVID-19 drug to raise the stock price.

According to the report, the police saw that the company had provided misleading information to investors, claiming that ‘Supect reduced COVID-19 infection by 70% within 48 hours of administration compared to the control group’ based on its non-clinical (in-vitro) trial results.