Genexine제넥신

Genexine remains deeply loss-making, with heavy borrowings and a share price down about half over the past year.

Genexine is a Korean biopharma developing long-acting protein drugs on its hyFc platform and a DNA vaccine, with revenue mainly coming from partnerships and licensing. On trailing twelve months to H1 2026 it reported about ₩5.0B of revenue against an operating loss of about ₩39.7B and borrowings of about ₩105.7B versus cash of about ₩10.1B. The share price is ₩2,690, roughly 52% lower over one year, with a market cap of about ₩122.5B.

What stands out

• Trailing revenue is about ₩5.0B, while operating loss is about ₩39.7B, an operating margin near -799%.
• Free cash flow is about -₩40.7B on a trailing basis, and borrowings (about ₩105.7B) far exceed cash (about ₩10.1B).
• Annual revenue rose 56% in 2025 to about ₩4.6B, but operating losses have remained roughly ₩34B to ₩40B every year since 2022.
• Valuation is not based on earnings (P/E not available); price-to-book is about 0.6 and price-to-sales about 24.7.
• Recent filings include a collateral provision for a third party (July 2026), a lawsuit (April 2026), a major management matter (August 2026) and a shareholder meeting call (October 2026).

What to watch

• Details and impact of the August 2026 major management matter and the collateral provisions, which are not described in the data provided.
• Upcoming shareholder meeting agenda and record date, plus the next quarterly report, which the data does not specify.
• Cash runway versus borrowings and cash burn, given trailing free cash flow of about -₩40.7B; news headlines and investor flow data were not available in the pack.