UPDATE : Friday, June 5, 2020
Bio stock slump drags down diagnostics, equipment, reagent companies
  • By Nam Doo-hyun
  • Published 2018.08.09 14:29
  • Updated 2018.08.09 14:29
  • comments 0

The shares of diagnostics, equipment, reagent and clinical agent companies are on a downward spiral amid the recent weakness of the pharmaceutical biotech stocks.

Among Korea’s 23 major diagnostics, equipment, reagent and clinical agent companies, the share price of only five companies are hovering above those of early this year, according to this paper’s survey.

Biotoxtech, a non-clinical CRO (Contract Research Organization) company, posted the highest rise to close at 11,950 won ($10.7) on Wednesday, up 65.3 percent from early this year. Biotoxtech’s sales in the first quarter of this year totaled 6.96 billion won, among which 5.67 billion won was from non-clinical services. Revenue for the first quarter increased 27 percent from the same period of last year.

Genematrix, a diagnostic kit developer, followed Biotoxtech’s lead with the share price increase of 28.9 percent, from 3,580 won on Jan. 2 to 4,615 won on Aug. 8. The company’s turnover in the first quarter was 11.2 billion won, including 797 million won from molecular diagnostics business, such as the HPV genotype diagnostic kit (Omniplex HPV), and 323 million won from the vitro diagnostics division, a reagent for liver function tests. The company’s sales in the first quarter fell 3 percent from a year ago.

Following them was drug and biotechnology equipment developer Young In Frontier, which marked the share price increase of 20.9 percent, from 5,070 won to 6,130 won. Equipment and reagent developer Logos Biosystems came next with 18.4 percent rise, from 12,500 won to 14,800 won, and gene diagnostics company Bioneer, with 12 percent gains, from 9,600 won to 10,750 won.

Shares of the medical device maker NanoEntek remained flat, closing at 6,000 won, 0.3 percent higher compared with the beginning of the year. Genome analysis services provider Theragen’s stocks remained at the same level as early this year, recording 11,950 won.

On the other hand, the share price of Cancerrop, a research company for genetic testing, marked the steepest drop of 75.1 percent over the period, from 39,300 won to 9,770 won.


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