CKD Bio종근당바이오

CKD Bio is back in losses on a trailing basis after a profitable 2024 and a small 2025 profit, with the shares down sharply over the past year.

CKD Bio, a Korean fermentation and biotech company making APIs, probiotics and microbiome CDMO services, reported trailing twelve-month revenue of about ₩158B to H1 2026 but an operating loss of about ₩8.1B and a net loss of about ₩7.8B. Its shares closed at ₩13,500 on 19 October 2026, a market cap of about ₩74B, and are down 39.1% over one year while up 4.3% over one month.

What stands out

• Revenue has stayed in a narrow range around ₩140B to ₩170B since 2021, but operating profit has swung between losses and a peak of about ₩11B in 2024.
• The 2025 full year showed a small operating profit of about ₩3.6B but a net loss of about ₩2.9B, and trailing results to H1 2026 have turned loss-making again.
• Balance sheet leverage is high, with liabilities at 145.1% of equity and borrowings of about ₩44B against cash of only about ₩0.5B, and trailing free cash flow was about -₩9.7B.
• The shares trade at about 0.6 times book value and 0.5 times sales, with no P/E available because earnings are negative, and the dividend yield is 0%.
• Foreign ownership rose from 1.7% to 2% over the last 60 days, while retail investors were net sellers over the last 20 days.
• Recent filings include a half-year report and preliminary earnings released in August 2026, plus a 'major management matter relevant to investors' filed on 14 August 2026, though the filing title gives no detail.

What to watch

• The contents of the 14 August 2026 major management matter filing, which the data does not describe.
• Whether the company returns to operating profit and reduces its ₩44B in borrowings and negative free cash flow in coming reports.
• The company's botulinum toxin launch and microbiome CDMO progress, which the data does not quantify; no news headlines were available in the data.