South Korea’s Stock Price Manipulation Joint Response Team raided ABL Bio’s headquarters in Seoul’s Gangnam-gu district and the residences of employees suspected of insider trading. Investigators are examining whether around 10 people, including company employees, bought ABL Bio shares before disclosure of a technology transfer agreement with a global pharmaceutical company and sold them after the stock rose. Estimated illicit gains total approximately 1 billion Korean won, or about $740,000. ABL Bio shares were trading at 59,800 won on the KOSDAQ at 2:41 p.m. on the 15th, down 5,100 won, or 7.86%, from the previous trading day. The investigation will focus on the timing of the trades, the status of negotiations when purchases occurred and whether confidential information was obtained through employees’ duties.