BL Pharmtech비엘팜텍

BL Pharmtech remains loss-making, with revenue shrinking sharply and the share price down over the last three months after a large rise over the past year.

The company runs health products sold mainly in Korea, diagnostic devices and anticancer drug development through a related company. For the trailing twelve months to H1 2026 it reported revenue of ₩3.1B, an operating loss of ₩2.9B and a net loss of ₩16.0B, with free cash flow of minus ₩1.3B. The share price closed at ₩1,991 on 2026-10-20, with a market value of about ₩55.6B.

What stands out

• Revenue has fallen every year from ₩84.4B in 2021 to ₩6.5B in 2025, and the trailing figure is ₩3.1B, so the sales base has become much smaller.
• Operating and net losses have persisted across all five years shown, and the trailing net loss of ₩16.0B is larger than trailing revenue.
• Cash of ₩5.8B exceeds borrowings of ₩2.2B, but liabilities are about 104.5% of equity and free cash flow is negative.
• The share price is up 189.4% over one year but down 38.5% over three months and 12.3% over one month; it sits well above its 52-week low figure of zero won in the data and below its 52-week high of ₩8,150.
• Recent filings include a share acquisition in another company, an amended convertible bond decision and amended share acquisition filing; the news list in the data is empty, so the reasons are not explained there.

What to watch

• The next quarterly or annual filings, to see whether revenue stabilises and losses narrow from the trailing figures.
• Details of the convertible bond issue and the share acquisitions in the amended filings, including any effect on dilution or cash.
• Foreign ownership of 1.4% and a net retail inflow in the last 20 days, which the data does not explain further.