Parataxis Korea파라택시스코리아

Parataxis Korea is loss-making and its shares are down about 72% over the past year, with a merger and delisting-related filings in progress.

Parataxis Korea runs a bitcoin treasury and mining business alongside a biotech unit that aims to out-license drug candidates for idiopathic pulmonary fibrosis and cancer. Its trailing twelve-month revenue is about ₩1.6B against an operating loss of about ₩9.9B, and the share price closed at ₩416 on 2026-10-27, near its 52-week low of ₩392. Recent filings include a merger decision, amended shareholder meeting notices, a withdrawn extraordinary meeting record-date notice, a trading halt and delisting-related filings, but the data does not explain what these mean for shareholders.

What stands out

• Trailing twelve-month operating loss of about ₩9.9B on revenue of about ₩1.6B, with an operating margin of roughly -618%.
• Trailing net loss of about ₩33.1B and free cash flow of about -₩15.5B, while cash is about ₩1.1B against borrowings of about ₩1.6B.
• Shares are down about 72% over one year, though flat over one and three months, and market capitalisation is about ₩44.1B.
• Foreign investors were net buyers over the last 20 trading days, while institutions were net sellers; foreign ownership is 51.8%.
• Valuation metrics are mixed: price-to-book is about 1.2, price-to-sales about 27.7, and P/E is not meaningful because earnings are negative; no dividend is paid.

What to watch

• Details and timing of the merger decision and the shareholder meeting, which the data does not describe.
• Whether the delisting-related and trading halt filings lead to a change in listing status.
• Future filings on biotech out-licensing deals and funding, since the company has large losses and limited cash relative to borrowings.