ISU Abxis이수앱지스

ISU Abxis is loss-making on a trailing basis after a sharp 2026 revenue drop, though its shares are up over the last three months.

ISU Abxis sells enzyme replacement therapies and an antibody drug, mainly in Korea and through partners overseas. On a trailing twelve-month basis to H1 2026 it reported revenue of ₩51.0B, an operating loss of ₩10.2B and a net loss of ₩16.7B, after a profitable 2024 and a small profit in 2025 that turned to a net loss. The stock closed at ₩3,535, about 31% below its level a year ago and well inside its 52-week range of ₩2,890 to ₩6,350.

What stands out

• Trailing operating margin is -20.1% and net margin is -32.8%, compared with a 22.2% operating margin in 2024.
• Cash of ₩23.0B sits against borrowings of ₩19.3B, and trailing free cash flow is positive at ₩8.5B.
• The data shows no dividend yield and no reliable forward earnings multiple, since trailing earnings are negative; the P/B of 1.2 and P/S of 2.8 are the main valuation markers given.
• Foreign ownership fell from 2.3% to 1.8% 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 for the period to June 2026, plus a convertible bond acquisition filing dated 22 September 2026.

What to watch

• The next full-year results and any update to the trailing loss figures, which the data does not yet cover.
• Filings related to convertible bonds, including the June 2026 conversion price adjustment, which could affect share count.
• Revenue concentration in the MENA region and reliance on partner companies for overseas sales, as named in the company profile. No news headlines were included in the data.