Eoflow Announced that US Federal Court Has Decided to Suspend the Effect of 1st Injunction Decision

• On 8 May, Eoflow announced that the U.S. federal court has decided to suspend the effect of the first injunction decision.

• While the effect of the second preliminary injunction decision remains intact, Eoflow has requested a review of the suspension of the effect of the second revised injunction decision as well.

• There has been a renewed optimism on Eoflow (294090 KS)'s share price in the past week which increased by 46% from 7 May to 10 May.

On 8 May, Eoflow announced that the U.S. federal court has decided to suspend the effect of the first injunction decision. In October 2023, the U.S. court in Massachusetts banned the sale, manufacturing, and marketing of the insulin pump 'Eopatch' until the patent lawsuit against Insulet in the U.S. is concluded.

It has also been reported that while the effect of the second preliminary injunction decision remains intact, Eoflow has requested a review of the suspension of the effect of the second revised injunction decision as well.

There has been a renewed optimism on Eoflow (294090 KS)'s share price in the past week which increased by 46% from 7 May to 10 May. Its share price is also up 96% since its lows on 1 February. Despite its strong share price performance in the past three days, its share price is down 77% since its recent peak in June 2023. The average daily trading volume was 5.8 million in the past three trading days, which was more than 13x higher than the trading volume on 7 May.

1st Injunction Decision is Suspended, Eoflow Now Waiting for 2nd Injunction Decision

With the first injunction decision suspended, Eoflow is now waiting for the second injunction decision. The effect of the second injunction decision remains which means that sales channels are still limited. According to Eoflow, a decision was made to suspend the effect of the first injunction decision on the grounds that Insulet failed to sufficiently demonstrate that the injunction decision should be maintained.

If Eoflow wins the lawsuit to suspend the second revised injunction, Eoflow is expected to resume full operations overseas, where it had been banned for about seven months.