NeoImmuneTech네오이뮨텍

NeoImmuneTech remains loss-making with minimal revenue, and its share price has fallen sharply over the past year despite a recent rally over three months.

NeoImmuneTech is a Korean T-cell immunotherapy developer whose lead candidate NT-I7 is still in clinical development. Trailing twelve-month revenue is about ₩1.2B against an operating loss of about ₩14.5B, and the company relies on licensing, co-development and government supply revenue. Its latest news cites a combination trial with CAR-T therapy and a planned technology transfer.

What stands out

• Trailing revenue is about ₩1.2B, while the operating loss is about ₩14.5B and the net loss about ₩17.0B, so margins are deeply negative.
• Revenue fell from about ₩125B-equivalent scale in 2024 to about ₩67B in 2025 in the filed figures, a 46.6% drop, and annual losses have been persistent since 2021.
• Cash of about ₩22.8B against borrowings of about ₩5.7B, with trailing free cash flow of about -₩15.7B, indicates ongoing cash burn.
• The share price is ₩1,632, down 43.6% over one year and 13.9% over one month, but up 36.8% over three months; it sits well below its 52-week high of about ₩4,450.
• Foreign ownership rose from 0.6% to 1.3% over 60 days, while recent 20-day flows were mainly retail-led selling, according to the data provided.
• Valuation metrics such as P/E are not meaningful given losses, and the price-to-book ratio is very high at about 1,527x; no analyst ratings or price targets are included in the data.

What to watch

• The amended half-year report (June 2026) and any further filings that clarify revenue, losses and cash runway.
• Progress on the planned full-scale technology transfer and the CAR-T combination trial results referenced in the 27 October news.
• Convertible bond conversion price adjustments and insider or 5%+ holding reports, which may signal dilution or ownership changes.