GI Innovation지아이이노베이션

GI Innovation remains deeply loss-making, with a share price down about half over the past year and a 52-week range of ₩6,470 to ₩20,950.

GI Innovation is a Korean biotech developing fusion-protein immunotherapy candidates, earning revenue mainly from licensing deals with partners rather than selling approved drugs. On trailing twelve months to H1 2026 it reported revenue of about ₩5.5B against an operating loss of about ₩44.7B, with cash of about ₩29.0B and borrowings of about ₩1.3B. The shares closed at ₩7,660 on 26 October 2026, a market value of about ₩494B.

What stands out

• Trailing revenue of about ₩5.5B is small against operating losses of about ₩44.7B, giving an operating margin of roughly -812%.
• Revenue in 2024 was only about ₩24M, while 2025 revenue rose to about ₩5.8B, so results depend heavily on the timing of licensing income.
• Free cash flow was about -₩44.4B on a trailing basis, and cash of about ₩29.0B is well below that annual burn rate.
• The DCF-based fair value figures in the data range from ₩0 to ₩174, with a base case of ₩80, far below the current price; the data does not explain the model's inputs in detail.
• Foreign ownership rose from 7.8% to 8.9% over about 60 days, while foreign investors were net sellers of about ₩2.5B over the last 20 days and retail investors were net buyers of about ₩2.0B.

What to watch

• Upcoming results and the next half-year or annual filings, which will show whether licensing revenue and cash runway hold up.
• The 'major management matter' filings dated 21 August, 1 October and 23 October 2026; the data does not give their content, so check the filings directly.
• Further 5%+ holding reports and insider shareholding filings, which the recent filing list shows as frequent; no news headlines were available in the data.