Nextbiomedical넥스트바이오메디컬

Nextbiomedical has swung to a small trailing loss on rising revenue, while its share price has fallen sharply over the past year.

Nextbiomedical sells polymer-based medical products, including a hemostatic powder and embolization microspheres, in Korea and abroad. Trailing twelve-month revenue is about ₩17.8B with an operating loss of about ₩2.3B and a near-breakeven net loss, and the company held about ₩14.0B in cash against ₩0.6B in borrowings as of H1 2026. The share price closed at ₩28,000, down 55.3% over one year and far below its 52-week high of ₩101,000.

What stands out

• Revenue rose 72.7% in 2025 to about ₩16.5B, but the operating loss narrowed from about ₩3.6B in 2024 to about ₩0.7B in 2025, and the trailing operating margin is still -12.9%.
• Trailing net loss is only about ₩42M, but this is far smaller than the operating loss, so the data does not explain the gap and it should be checked in the filings.
• Free cash flow over the trailing period was negative at about -₩180M, and foreign ownership fell from 2.4% to 1.3% over 60 days, while foreign investors were net sellers over the last 20 days.
• Valuation metrics are high for a loss-making company: price-to-book is 4.7 and price-to-sales is 13, with no meaningful earnings multiple, and the stock trades well below its 52-week high.
• Recent filings include a half-year report for June 2026, an amended quarterly report, several insider shareholding reports and investor relations events; the news feed contained no headlines for the period.

What to watch

• The next quarterly and annual results, to see whether operating losses keep narrowing and whether revenue growth continues.
• Any further amended filings or the April 2026 management matter, which the data does not describe in detail.
• Progress on overseas market entry and distribution partner sales, which the profile names as a priority but the data gives no figures for.