Amicogen아미코젠

Amicogen's revenue has collapsed and losses are deep, with the company now designated an unfaithful disclosure company after two disclosure reversals.

Amicogen reported trailing twelve-month revenue of ₩46.7B to H1 2026 against an operating loss of ₩13.0B and a net loss of ₩19.3B, with borrowings of ₩37.8B against cash of ₩8.2B. Revenue fell 75.8% in 2025 after a large drop from the ₩173.6B reached in 2024, and the share price has fallen 73.9% over the past year to ₩924. The data includes no recent news headlines, so the company's own filings are the main source of recent information.

What stands out

• Revenue fell from ₩173.6B in 2024 to ₩42.0B in 2025, and the trailing figure to H1 2026 is ₩46.7B.
• Operating margin was -27.9% on a trailing basis and net margin was -41.3%, so losses are large relative to sales.
• Liabilities are 65.9% of equity and borrowings of ₩37.8B exceed cash of ₩8.2B.
• On 2026-09-03 and 2026-09-28 filings show the company was designated an unfaithful disclosure company after two disclosure reversals.
• Price-to-book is 0.6 and there is no dividend, while the data has no P/E because earnings are negative.
• Foreign ownership is 2.8%, and 20-day flows show institutions and foreign investors net sellers while retail was net buyer.

What to watch

• Upcoming half-year and shareholder meeting filings, including several amended versions already filed in August and October 2026.
• Whether the company can reduce its ₩37.8B of borrowings and return to positive operating cash flow, given free cash flow of -₩1.7B.
• Any further disclosure corrections or regulatory follow-up related to the unfaithful disclosure designation.