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JONBUR Research · Initiation

You're reading an earlier report from Oct 18, 2026. See the latest report

Curiox Biosystems · 445680 · Medical & precision devices

Curiox Biosystems: Sharp Share Price Rally Against Deep Losses and a Model Estimate Far Below the Market Price

Why this report

Start of coverage: one of the 300 largest companies, written once its financial statements were in.

Curiox Biosystems shares closed at ₩68,000, up 43.6% over one month and 65.2% over three months, while trailing twelve-month revenue of ₩5.7B came with an operating loss of ₩13.0B. A model estimate of ₩378 per share sits far below the current price, based on the assumptions shown.

Written Oct 18, 2026 · Data as of Oct 16, 2026 · 0 views

This is not financial advice. The report does not recommend buying or selling anything.

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Thesis

The data supports a picture of a small, loss-making medical device company whose share price has moved well ahead of its reported results. The shares are up 65.2% in three months but down 1.4% over one year, and sit 54.4% below the 52-week high of ₩149,200 and well above the low of ₩31,650. Revenue grew 12.3% in 2025 after a 32.4% fall in 2024, so the sales trend is not yet consistent. Operating losses have persisted every year in the data. The balance sheet looks light on liabilities (liabilities to equity of 8.9%) with cash of ₩10.5B, but free cash flow over the trailing period was negative ₩9.3B, so cash is being used. Over the last 20 trading days, retail investors were net buyers of about ₩17.8B while foreigners sold about ₩16.8B and institutions sold about ₩1.4B. Foreign ownership fell from 9.4% to 6.9% over 60 days. The data does not show what is behind the recent rally; the only news item is a market-tip style article from Money Today. Short balance data is not available.

Business overview

Curiox Biosystems is listed on KOSDAQ in the medical and precision devices sector. It was founded on 2018-09-07 and listed on 2023-08-10, with 17,224,699 listed shares and a market capitalization of about ₩1.17T. The CEO is 김남용. Annual revenue was ₩6.8B in 2023, ₩4.6B in 2024 and ₩5.2B in 2025, so the business is small relative to its market value. The data does not include product, customer or segment detail.

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Model estimate of fair value

Bear
₩388
-99%
Base
₩378
-99%
Bull
₩380
-99%

Model estimate based on the assumptions shown. Not a price target and not a buy or sell signal.

Base case of the 5-year discounted cash flow model on the stock's Valuation tab (statements TTM to H1 2026; discount rate 7.5%). Bear and Bull move the main assumptions by fixed steps. See and change the assumptions

Filings and data used

Report history

  1. Oct 27, 2026Update noteBig price moveCuriox Biosystems: Shares Fall 15.3% in Five Days on Heavy Volume, No Filing Explains the Move
  2. Oct 19, 2026Update noteBig price moveCuriox Biosystems: Shares Rise 27.9% in Five Days on Heavy Volume, No Filing Explains the Move
  3. Oct 18, 2026InitiationStart of coverage (300 largest)Curiox Biosystems: Sharp Share Price Rally Against Deep Losses and a Model Estimate Far Below the Market Price

Built only from jonbur's own data: prices and investor flows, filed financial statements and filings, and news headlines. Disclosed (filed) data is labelled as such. Written by AI and may contain mistakes.

This is not financial advice. The report does not recommend buying or selling anything.

Source: KRX statistical information