Genexine, sales of 34.6 billion won in the first half of 2021 and
operating profit of KRW 2.7 billion
[2021/08/17] Genexine, (095700, CEO Young-Chul Sung, Jungwon Woo) announced that it finished the first half in the black with sales of 34.6 billion won, operating profit of 2.7 billion won, and net profit of 1.2 billion won through the public disclosure of the business report for the first half.
Consolidated sales of KRW 34.6 billion in the first half were an increase of 268% compared to KRW 9.4 billion in sales in the same period of the previous year, and operating profit and net profit turned surplus compared to previous year, maintaining stable performance. In addition, total comprehensive income increased significantly to KRW 169.5 billion from KRW 57 billion in the same period last year.
In addition, total assets increased from 420 billion won in the same period last year to 786.7 billion won, solidifying its position as a mid-sized company.
About 30 billion won of Genexine's sales of 34.6 billion won in the first half of this year is the license out contract received from KG BIO in Indonesia. Genexine signed a license out contract with KG BIO in January for GX-I7 (substance name: efineptakin alfa), and developed a treatment for COVID-19 through drug re-creation of GX-I7, which was being developed as an immuno-oncology drug, and is currently undergoing phase 2 clinical trial in Indonesia. have.
In addition to coronavirus vaccines and treatments, Genexine is accelerating the commercialization of a new drug pipeline currently under development. GX-H9, a long-acting growth hormone that has recently been designated as an orphan drug by the European Medicines Agency (EMA), is undergoing phase 3 clinical trials with IMAB in China. GX-E4 is currently at phase 3 clinical trials with KG BIO in 7 Asian countries including Korea and Australia.
In addition, GX-188E, a cancer treatment DNA vaccine for cervical cancer designated as the first ‘bio-challenger’ by the Ministry of Food and Drug Safety as Korea’s, plans to complete the recruitment of patients for phase 2 clinical trials by the end of the year and secure the status to apply for conditional approval.
Genexine is strengthening its financial stability by achieving a surplus in sales and operating profit in 2021, and is also expecting commercialization by successfully conducting clinical trials of various pipelines currently in progress or additional technology exports through this. In addition, the company plans to carry out various C&D (Connect & Development) projects with domestic and foreign companies that are expected to create synergy with Genexine's existing pipeline, to conduct joint research, joint development, and joint clinical trials of new drugs.