ViGenCell (308080) 🔎 In-depth
KOSDAQ · Price as of 2026-08-06 · Updated 2026-08-09
ViGenCell, founded in 2013, is a biotech developing immune cell therapies — a clinical-stage company building cell-therapy platforms that harness the body's immune cells to target cancers and intractable diseases, so revenue is tiny and R&D spending drives the bottom line. In October 2025 it disclosed a supply contract of about ₩5.2 billion, more than 18 times the prior year's revenue; in February 2026 it reported full-year results (revenue ₩22.67 million, an operating loss of ₩17.1 billion, and a net loss of ₩16.3 billion), and in May its first-quarter results (revenue ₩0.3 billion, an operating loss of ₩2.8 billion, and a net loss of ₩2.6 billion). The notable point right now is that its strengths — a current ratio of about 2,003%, giving ample short-term funding room, and signs like the ₩5.2 billion contract that research is turning into actual deals — stand against the fact that it is still pre-product-revenue, so the company's value hinges heavily on clinical progress and its funding situation and would weaken if trials are delayed or additional financing drags on.
This page organises public market and filing data for information purposes. It is not a recommendation to buy or sell, nor investment advice. Metrics labelled “forward” are our own unverified estimates. Please verify with the original DART filings and decide at your own responsibility.
30-second brief
Pulled directly from the computed values below — not a separately written opinion.
What do the SourceComputedEstimateReading tags mean?
Source filings and exchange data · Computed calculated from public data · Estimate our own unverified projection · Reading drafted automatically, then rule-checked. See AI & Automation.
Core valuation metric
This stock's effective sub-sector is “Biotech (Drug Development & Research)” (Biotech & Pharmaceuticals), a type best read first through qualitative factors such as pipeline value and cash runway rather than earnings multiples.
Drug-discovery biotech firms often have little in the way of earnings or revenue yet, so P/E or sales multiples can't meaningfully capture their value. Instead, it makes more sense to judge them qualitatively — by the clinical stage of the pipeline, licensing and out-licensing progress, and the cash runway that keeps research going.
That said, meaningful revenue has yet to ramp, so pipeline value and cash runway may matter more than this metric.
This note explains how each sector is typically valued and is educational context only, not investment advice.
At-a-glance assessment financial health · growth · profitability · valuation
- The most recent full-year net result was a loss.
- Revenue fell 91.9% year over year (3-year trend: mixed).
- ROE is -37.3% (total-net basis). It is below the sector average.
- Operating margin is -75453.1%.
- A sector-metric and in-depth research verdict — see “Valuation vs peers” below for the basis.
Ownership & governance As of 2025-12-31
Largest shareholder Gaeun Global 10.68% (corporate)
Controlling bloc incl. related parties 21.51%
With the controlling bloc holding 22%, control is maintained but the free float is relatively large.
🔎 In-depth analysis Reading
ViGenCell, founded in 2013, is a biotech developing immune cell therapies. Rooted in hematopoietic stem-cell research at the College of Medicine of the Catholic University of Korea, it develops cell-therapy platform technology that uses the body's immune cells to treat cancers and intractable diseases. Built on an industry-academia-research collaboration structure, it holds a pipeline targeting multiple tumors and intractable conditions. It is not yet at the stage of earning money by selling a drug in the market; it is a development-focused company researching candidate substances and validating them through clinical trials. As a result, revenue is small and R&D spending drives the bottom line, and the company's value turns more on pipeline progress and its funding situation than on near-term results. Because market capitalization is not large, a single disclosure (a contract, a financing, and so on) can affect its finances and share count, and that is worth watching too.
The latest close is ₩5,350 and the market capitalization is ₩109.7 billion. The price sits above its 20-day moving average (₩5,169) and below its 60-day moving average (₩7,638). Short-term and medium-term trends are diverging, so the direction is best read separately. The RSI (a supplementary indicator that gauges the strength of gains versus losses over the past 14 days on a 0-100 scale) is 45.9, a neutral level. The one-month change is -2.9%, the three-month change is -49.2%, and the position relative to the 52-week high is -66.1%. Relative strength versus the KOSDAQ is 80 (on a 1-99 scale, converted from returns against the index over the past year with more weight on recent performance; higher means stronger than the market). It is stronger than roughly 80% of all stocks. Over the past three months it lagged the index by 23.9%. Chart interpretation is best done alongside trading volume and the dates on which disclosures occur.
Recent annual (2025) revenue was ₩22.67 million — effectively pre-product-revenue — with an operating loss of ₩17.1 billion and a net loss of ₩16.3 billion. As a biotech developing a new drug, it operates with essentially no revenue while R&D spending determines the bottom line, so a loss is close to natural for a company at this stage. A P/E (how many times a year's earnings the share price is) cannot be calculated because earnings are negative; instead, the P/B (how many times book value the share price is) is 2.67x. Given that the adjacent peer set in the same sector spans 0.42x to 2.71x, the share price against book value sits in the middle-to-upper part of that range — on asset value alone, neither extremely expensive nor cheap. The current ratio is about 2,003%, so short-term payment capacity is ample, and the debt ratio is 24.1%. For a company at this stage, how long its cash on hand can sustain R&D is a more relevant yardstick than profitability metrics.
As befits a clinical-stage biotech, the bottom line has been in the red for several years. Operating losses were ₩20.1 billion in 2023, ₩15.3 billion in 2024, and ₩17.1 billion in 2025 — uneven — while revenue appears only in small amounts when research or technology-related income is booked, so it varies widely year to year. The fact that 2025 revenue fell versus the prior year is better read as a difference in whether one-off income was recognized than as a slump in the core business. The most recent quarter (Q1 2026) shows revenue of ₩0.3 billion, an operating loss of ₩2.8 billion, and a net loss of ₩2.6 billion. Because no official company full-year figure is published, it is more accurate to follow the confirmed results and pipeline progress rather than assert this year's earnings. For a company like this, growth shows up first in clinical-stage advances and in events such as licensing-out and supply contracts, not in the revenue curve.
On October 1, 2025 it disclosed a single-sale/supply contract worth about ₩5.2 billion — more than 18 times the prior year's revenue — a meaningful event for future revenue recognition. However, the reading depends on whether the deal ends with one transaction or feeds into repeatable revenue, so the contract term and recognition timing should be watched together. On February 4, 2026 came a disclosure of a change in annual results (revenue ₩22.67 million, an operating loss of ₩17.1 billion, a net loss of ₩16.3 billion), and on May 14 a Q1 2026 quarterly report (revenue ₩0.3 billion, an operating loss of ₩2.8 billion, a net loss of ₩2.6 billion). With results disclosures, it is worth checking whether they point the same direction as the annual trend and whether one-off factors are mixed in.
ViGenCell is a clinical-stage biotech developing immune cell therapies, and applying the same yardstick used for ordinary manufacturing or profit-making firms is easy to misread. The strengths are clear: a current ratio of about 2,003% gives ample short-term funding room; signs such as the ₩5.2 billion supply contract show research turning into actual deals; and the share price against book value (P/B 2.83x) does not sit at an extreme within its peer set. The points to watch are equally clear: it is still pre-product-revenue, so losses continue — natural for a development-focused company, but meaning value hinges heavily on clinical progress and funding. In short, it is strong when the pipeline advances through clinical stages, revenue signals like the ₩5.2 billion contract accumulate repeatedly, and cash room supports the effort; it weakens when trials are delayed or additional financing drags on. The company's value turns on development progress and the ability to convert those results into revenue, more than on near-term profit or loss.
🔎 Valuation vs peers Undervalued
A peer set of similarly sized companies by market capitalization within research and development.
| Peer | P/E | P/B | ROE |
|---|---|---|---|
| Aptabio Therapeutics | — | 4.03x | -34.64% |
| Genexine | — | 0.53x | -11.03% |
| TiumBio | — | 3.74x | -46.05% |
We looked first at a public-data peer set of similar market capitalization within research and development. The current P/E (how many times a year's earnings the share price is) cannot be determined, and the P/B (how many times book value the share price is) is 2.67x. That said, for smaller-cap stocks, earnings swings and financing disclosures carry a large effect, so we did not draw firm conclusions from last year's confirmed-results metrics alone. For the outlook box, an official company projection could not be confirmed.
Price history Close · MA20 · MA60
The latest close is ₩5,350 and the market capitalization is ₩109.7 billion. The price sits above its 20-day moving average (₩5,169) and below its 60-day moving average (₩7,638). Short-term and medium-term trends are diverging, so the direction is best read separately. The RSI (a supplementary indicator that gauges the strength of gains versus losses over the past 14 days on a 0-100 scale) is 45.9, a neutral level. The one-month change is -2.9%, the three-month change is -49.2%, and the position relative to the 52-week high is -66.1%. Relative strength versus the KOSDAQ is 80 (on a 1-99 scale, converted from returns against the index over the past year with more weight on recent performance; higher means stronger than the market). It is stronger than roughly 80% of all stocks. Over the past three months it lagged the index by 23.9%. Chart interpretation is best done alongside trading volume and the dates on which disclosures occur.
Relative performance stock vs index · start = 100
Excess return vs index · 3M -23.93% / 6M -6.27% / 12M +42.83%
Key metrics Computed vs sector median
Valuation
A net loss makes the P/E an unreliable valuation gauge. The P/B of 2.67x is below the sector median (3.91x).
Enterprise value (EV)
EV = market cap + net debt. It reflects cash and debt, so it captures the real cost of the whole business that market cap alone misses; lower multiples are cheaper relative to earnings or sales.
Profitability & financials
The operating margin is -75453.1%. The debt ratio is 22.2%, so the financial structure is stable.
Growth FY2025 · annual report (separate)
| Item | 2023 | 2024 | 2025 | YoY |
|---|---|---|---|---|
| Revenue | $0 | $195,961 | $15,929 | -91.87% |
| Operating profit | -$14.1M | -$10.8M | -$12.0M | — |
| Net profit | -$12.6M | -$9.9M | -$11.5M | — |
| 5-year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $0 | $0 | $0 | $195,961 | $15,929 |
| Operating profit | -$9.2M | -$12.8M | -$14.1M | -$10.8M | -$12.0M |
| Net profit | -$7.8M | -$12.2M | -$12.6M | -$9.9M | -$11.5M |
Revenue fell 91.9% year over year (2023 ₩0 → 2024 ₩278,946,254 → 2025 ₩22,674,300), and the three-year trend is 'mixed'. Operating results are in the red, so a swing back to profit matters more than the growth rate here.
Latest quarterly results Source Q1 2026 · vs year-ago
Technical indicators Computed
What stands out
- —
Points to watch
- The most recent full year was a loss, so it is worth checking whether profitability recovers.
- Revenue fell 91.9% year over year (3-year trend: mixed).
Recent news & events searched · sourced
- 2025-10-01ContractSingle-sale/supply contract signed: contract value ₩5.2 billion, 1,864.0% of recent revenueThe contract value and term are central to future revenue recognition. Whether the deal is one-off or repeatable divides the medium-term reading. Source
- 2026-02-04EarningsChange of 30% or more in revenue or profit/loss structure (15% for large corporations): annual revenue ₩22.67 million, operating loss ₩17.1 billion, net loss ₩16.3 billionThis is recently confirmed or preliminary results data. Check whether it points the same direction as the annual trend and whether one-off factors are present. Source
- 2026-05-14EarningsQuarterly report (2026.03): Q1 2026 revenue ₩0.3 billion, operating loss ₩2.8 billion, net loss ₩2.6 billionThis is recently confirmed or preliminary results data. Check whether it points the same direction as the annual trend and whether one-off factors are present. Source
Figure cross-check computed ↔ external
| Metric | Computed | External | Status | Source |
|---|---|---|---|---|
| Closing price | ₩5,350 | ₩5,350 | Confirmed | link |
| Latest quarterly results | revenue ₩0.3 billion, operating profit -₩2.8 billion | revenue ₩0.3 billion, operating profit -₩2.8 billion | Confirmed | link |
| Annual results | revenue 2,267, operating profit -₩17.1 billion | revenue 2,267, operating profit -₩17.1 billion | Confirmed | link |
| Contract disclosure source text | single supply contract signed: contract value ₩5.2 billion · vs recent revenue 1864.0% | single supply contract signed: contract value ₩5.2 billion · vs recent revenue 1864.0% | Confirmed | link |
| Results disclosure source text | revenue30%: revenue 2,267 · operating profit -₩17.1 billion · net profit -₩16.3 billion | revenue30%: revenue 2,267 · operating profit -₩17.1 billion · net profit -₩16.3 billion | Confirmed | link |
| Results disclosure source text | (2026.03): 2026 1 revenue ₩0.3 billion · operating profit -₩2.8 billion · net profit -₩2.6 billion | (2026.03): 2026 1 revenue ₩0.3 billion · operating profit -₩2.8 billion · net profit -₩2.6 billion | Confirmed | link |
| Outlook box basis | — | — | Unverified | — |
Recent filings Source
- 2026-05-14PeriodicQuarterly report
- 2026-03-31OwnershipOwnership-change filing
- 2026-03-31OwnershipOfficers'/major-shareholders' holdings report
- 2026-03-26Shareholders' meeting notice
- 2026-03-18PeriodicAnnual business report
- 2026-03-18Audit report
- 2026-03-11Shareholders' meeting notice
- 2026-02-25Shareholders' meeting notice
- 2026-02-25Disclosure
- 2026-02-24Disclosure
📖 Plain-language glossary — expand if you are new to this
- P/E
- How many times a year's net profit the price is worth (lower is cheaper relative to earnings). The P/E here is on trailing (last full-year) results; for companies whose earnings swing fast (memory chips and other cyclicals/high-growth), a forward P/E on this year's expected earnings is more accurate.
- P/B
- Price relative to net assets (equity). Around 1x means it trades near book value; below 1x means below book.
- P/S
- Price relative to a year's revenue — useful for growth companies with thin earnings.
- Net debt / EV
- Net debt = interest-bearing debt − cash. Negative means more cash than debt (net cash). EV (enterprise value) = market cap + net debt, closer to what it would cost to buy the whole business.
- EV/EBIT · EV/EBITDA · EV/Sales
- Enterprise value against operating profit (EBIT), EBITDA, or revenue. Unlike P/E these reflect debt and cash; lower is cheaper relative to earnings power or sales.
- FCF / FCF yield
- Free cash flow = operating cash − capex, the cash actually left over. FCF yield = FCF ÷ market cap; higher means more cash generated per unit of market value.
- Intrinsic value (DCF)
- Future free cash flow (or, for some capex-heavy but profitable names, forecast earnings) discounted to today to estimate per-share value. Because it shifts a lot with the discount-rate and growth assumptions, it is shown as a bear/base/bull range, and the basis and assumptions are disclosed in one line beneath it.
- ROE
- How much profit the company earns in a year on its equity (%). Higher means better returns on capital.
- EPS / BPS
- Earnings per share / net assets (book value) per share.
- Operating / net margin
- Profit left from the core business / final profit after tax and interest, per unit of revenue.
- Debt ratio
- Debt relative to equity (%). Higher means more reliance on borrowing (norms vary by sector).
- Current ratio
- Assets convertible to cash within a year against debt due within a year. Above 100% leaves some short-term headroom.
- Interest coverage
- How many times operating profit covers the interest owed. Below 1x means operating profit alone struggles to cover interest.
- Dividend yield / payout ratio
- The year's dividend as a % of today's price / the share of earnings paid out as dividends.
- Revenue CAGR
- Multi-year growth expressed as a single yearly average (compound annual growth rate).
- RSI (short-term signal)
- Whether recent price action is overheated or beaten down. Above 70 is overbought, below 30 oversold.
- MA20 / MA60 (moving averages)
- The 20- and 60-day average price. Price above them signals a firmer short-term trend.
- vs 52-week high
- How far below the past year's peak the price sits now (%).
All figures are for reference only; how they read varies by sector and over time.
Sources: Korea FSC market-price API (data.go.kr), OpenDART, KRX/KIND — public data only.
Bong Stocks presents public-data-based information for reference only. It is not investment advice and contains no target prices, ratings, or buy/sell recommendations. Verify independently before making any decision.