Cytogen싸이토젠

Cytogen is growing revenue fast from a small base but still loses money heavily, and its shares have fallen over the past year.

Cytogen is a Korean liquid biopsy company built around its Live CTC isolation platform, serving drug developers and research institutions. Trailing twelve-month revenue is about ₩27.4B, but operating loss is about ₩6.6B and net loss about ₩10.5B, with free cash flow of roughly −₩7.4B. The share price is ₩2,695, down 12.8% over one year, with a market capitalisation of about ₩62.3B.

What stands out

• Revenue rose from ₩0.35B in 2021 to ₩26.1B in 2025, but operating losses have stayed above ₩8B every year shown.
• Operating margin improved from −97.8% in 2024 to −31.3% in 2025, though the trailing twelve months show −23.9%, so the trend is narrowing losses rather than profit.
• Cash of about ₩14.9B against borrowings of only ₩10M suggests little debt, but cash burn remains significant relative to that balance.
• Price-to-book is about 1.9x and price-to-sales about 2.3x; earnings-based multiples are not meaningful because the company is loss-making, and the data includes no dividend.
• Foreign ownership fell slightly from 2.4% to 2.2% over the last 60 days, and foreign investors were net sellers over the past 20 days.

What to watch

• The next half-year or annual results, to see whether revenue growth continues and losses narrow further.
• Recent filings include a merger completion report dated 1 October 2026 and several 5%+ holding reports; the data does not explain their details, so check the filings directly.
• The shares are near the middle-to-low end of their 52-week range (₩2,590 to ₩11,200), and the data does not include analyst views or news coverage to explain recent moves.