KoBioLabs고바이오랩

KoBioLabs remains loss-making with heavy share price declines over the past year, though its latest filings show no major new negative events beyond a CEO change.

KoBioLabs, a microbiome-based biotech, is still unprofitable: trailing twelve-month revenue is about ₩75.4B against an operating loss of ₩8.1B as of H1 2026. Cash of ₩14.6B sits against borrowings of ₩15.5B, and the shares trade at ₩2,875, down 44.8% over one year but up 5.3% over one month. The company says its revenue comes from licensing drug candidates and from the WeBiome health food and probiotics subsidiary, though the data does not break out revenue by source.

What stands out

• Revenue has grown from about ₩2.9B in 2021 to ₩69.3B in 2025, but operating losses have stayed large, at ₩9.7B in 2025.
• Trailing free cash flow is negative at about ₩2.9B, and liabilities are 102.6% of equity.
• The stock is at ₩2,875, well below its 52-week high of ₩8,730 and above its low of ₩2,310.
• Foreign ownership is small at 2.7%, and over the last 20 days foreign investors were net buyers while retail investors were net sellers.
• Filings in March 2026 included a change of CEO, a major management matter, and a stock purchase option grant.

What to watch

• The next quarterly report and any update on whether operating losses are narrowing, since the data shows no profit forecast.
• Debt repayment capacity, given cash of ₩14.6B against borrowings of ₩15.5B and negative free cash flow.
• Any further details on the March 2026 CEO change and management matter, which the data does not explain.