CJ BioscienceCJ 바이오사이언스

CJ Bioscience remains loss-making with heavy losses against small revenue, and its share price has fallen about 60% over the past year.

CJ Bioscience, a Korean microbiome drug and genomics company, reported trailing twelve-month revenue of ₩3.7B against an operating loss of ₩23.0B as of the first half of 2026. Its share price closed at ₩3,690 on 2026-10-22, near the lower end of its 52-week range of ₩3,060 to ₩10,200. The lead candidate CJRB-101 is in clinical trials for lung and head-and-neck cancers, combined with Keytruda.

What stands out

• Revenue has been broadly flat at around ₩3.5B to ₩4.4B over 2021 to 2025, while operating losses have ranged from ₩10B to ₩34B a year.
• Trailing free cash flow was negative at about ₩19.8B, and borrowings of ₩7.9B exceed cash of ₩4.6B.
• The company has no price-to-earnings ratio because it is loss-making; its price-to-book ratio is 1.2 and it pays no dividend.
• The discounted cash flow fair value model in the data gives ₩2,167 as base case, below the current close of ₩3,690.
• Foreign ownership fell slightly from 2.9% to 2.6% over the past 60 days, and the 20-day flows show foreign investors net sellers.

What to watch

• The next quarterly report and any update on cash burn, given the negative free cash flow and borrowings above cash.
• Clinical trial progress for CJRB-101, which the data does not describe in detail.
• Filings on the large business group status and any further management matters, as the data does not explain their significance for the company.