Company
Business
Stem Cell Therapy
Organoid
CDMO Business
IR Resource Center
Kangstem Biotech strives to develop an innovative new drug for patients suffering from rare and incurable diseases.
2024 Earnings
22
2025.01
Kangstem Biotech improved its financial stability with a 55% reduction in net loss for the current period on a consolidated basis compared to the previous year.
Kangstem Biotech improved its financial stability with a 55% reduction in net loss for the current period on a consolidated basis compared to the previous year.
For the current fiscal year, Kangstem Biotech recorded a revenue of approximately 7.6 billion KRW. The net loss was about 10.4 billion KRW, a 55% decrease compared to the previous year. The key factors contributing to the improved profit and loss include the receipt of ongoing royalties following the domestic license agreement for the osteoarthritis treatment OSCA, the sale of subsidiary shares, and increased revenue from milestone achievements in the CDMO business. The sale of shares in the preclinical CRO subsidiary was carried out as part of proactive restructuring to ensure financial stability, considering the current pharmaceutical and biotech market conditions.
A Kangstem Biotech representative stated, “Excluding the subsidiary from the consolidation significantly improved the profit and loss, including the loss from continuing operations before income tax. Additionally, the company’s separate revenue increased by 1.7 billion KRW compared to last year, thanks to ongoing royalties, the CDMO business, and stem cell culture medium sales. Looking ahead, we expect revenue growth from milestone royalty payments from the OSCA license agreement and drug supply for domestic and international regenerative medicine businesses.”
“We plan to strengthen our revenue and financial stability based on stem cells this year. We will secure mid- to long-term revenue sources through clinical research and domestic and international regenerative medicine projects in line with the revised Bioethics and Safety Act. Additionally, we aim to continuously expand capital and improve our financial structure through the research and development and business achievements of our major pipelines.”