ABL Bio에이비엘바이오

ABL Bio's shares have fallen sharply over the past year while it reports large losses, though its pipeline is generating new clinical data.

ABL Bio is an early-stage biopharma company that earns revenue mainly from licensing its bispecific antibody pipeline to global partners rather than from product sales. Trailing twelve-month figures to H1 2026 show revenue of ₩34.3B against an operating loss of ₩86.1B, with ₩165B in cash and ₩16.7B in borrowings. The share price closed at ₩41,000 on 2026-10-29, down 55.9% over one year.

What stands out

• Trailing revenue of ₩34.3B is far below the operating loss of ₩86.1B, giving an operating margin of -251.2%.
• 2025 revenue rose to ₩79.3B (up 137.6%) but the company still posted an operating loss of ₩40.4B.
• Free cash flow over the trailing period was -₩41.8B, and cash of ₩165B is well above borrowings of ₩16.7B.
• The company's DCF fair value model gives a base value of ₩855 against the current ₩41,000 price, a gap the data does not explain; the bear and bull figures are also listed.
• Recent headlines centre on clinical data for gastric cancer drug Givastomig and bispecific antibodies ABL111 and ABL503 presented at ESMO in October 2026.

What to watch

• Upcoming clinical trial results and phase 3 preparation steps for Givastomig, as reported in the news.
• Further licensing deals or milestone payments, which are the company's main source of revenue.
• Ongoing filings of 5%+ holding reports and stock purchase option grants, as well as the cash burn implied by the negative free cash flow.