Genome & Company is split between drug discovery — developing an immuno-oncology candidate (GENA-104), antibody-drug conjugates, and microbiome therapeutics on its own platform — and businesses that generate actual revenue, namely the cosmetics brand UIQ and a U.S. subsidiary's contract development and manufacturing (CDMO). The contract-manufacturing segment is being wound down on profitability grounds, so it is a transitional period in which cosmetics are shifting to the center of the top line, and alongside a May 2026 quarterly report, capital-related disclosures such as holdings changes by executives and major shareholders and stock-option grant corrections followed. What stands out lately is that if cosmetics revenue more than offsets the decline in contract manufacturing to rebuild the top line and the loss narrows, a P/B of 1.68x reads strongly as a lower valuation than peer clinical-stage biotechs; on the other hand, the first-quarter net loss widened again to roughly the size of last year's full-year loss, and stock options and holdings changes carry the possibility of share-count dilution, so it should be watched while checking these conditions.
At-a-glance assessment financial health · growth · profitability · valuation
- The most recent full-year net result was a loss.
- Revenue fell 11.4% year over year (3-year trend: mixed).
- Most recent quarter (Q1 2026) revenue was 9.0% lower than a year earlier.
- ROE is -6.1% (controlling-interest basis). It is below the sector average.
- Operating margin is -118.9%.
- P/E is hard to compute here, so this is read on P/B.
Ownership & governance As of 2025-12-31
Largest shareholder Park Han-soo 7.51% (individual)
Controlling bloc incl. related parties 14.58%
With the controlling bloc holding 15%, ownership is dispersed, leaving room for control-related or activist dynamics.
🔎 In-depth analysis
- Genome & Company is a company split between 'drug development' and 'businesses that generate actual revenue.' On the R&D side, it develops, on its in-house platform 'GNOCLE,' an immuno-oncology candidate (GENA-104) targeting a newly discovered immune-checkpoint protein (CNTN-4), antibody-drug conjugates (ADC), and microbiome therapeutics using gut microbes (GEN-001 and others).
- These drug candidates are still at the clinical stage and generate almost no revenue.
- Actual revenue comes from two places.
- One is the cosmetics brand 'UIQ,' a consumer business that has grown quickly selling derma cosmetics such as cleansers.
- The other is microbial-drug contract development and manufacturing (CDMO) through a U.S. subsidiary.
- That said, the company has decided to wind down the contract-manufacturing segment on profitability grounds, making this a transitional period in which cosmetics revenue is shifting to the center of the company's top line.
- In sum, it is a stock that must be viewed across two axes — the 'drug pipeline' and the 'cosmetics results.'
- The latest close is ₩3,830 and market capitalization is ₩173.0 billion.
- The price sits below its 20-day line (₩4,362) and below its 60-day line (₩5,709).
- Trading under both its short- and medium-term moving averages, the trend is on the soft side.
- The RSI (a supplementary gauge that weighs upward versus downward force over the past 14 days on a 0-100 scale) is 39.6, a neutral reading.
- The one-month change is -34.1%, the three-month change is -43.5%, and the position versus the 52-week high is -61.6%.
- Relative strength against the KOSDAQ is 82 (on a 1-99 scale, computed from returns versus the index over the past year with more weight on recent performance; higher means stronger than the market).
- That places it in roughly the top 17% of all stocks by strength.
- Over the past three months it has lagged the index by 23.9%.
- Chart reading is best done alongside trading volume and disclosure dates.
- This company does not yet turn a profit, so the P/E (how many times one year's earnings the price represents) cannot be derived, and it is viewed instead through the asset-based P/B.
- The P/B (how many times equity the price represents) is 1.62x.
- For a clinical-stage loss-making biotech, the P/B is a natural yardstick because there are no earnings yet, and 1.68x is actually on the lower side of the multiples other biotechs at the same R&D stage commonly receive.
- In other words, the fact of a loss alone does not put the P/B in a position to be seen as 'burdensome.' On profitability, the operating margin is about -118.9% and ROE (how much is earned in a year on equity) is about -6.1%, still loss-making, but the size of the loss itself has fallen rapidly, as the growth section below shows.
- On finances, the debt ratio (debt relative to equity) is about 137% and the current ratio (assets soon to be turned into cash relative to debt due within a year) is about 2.29x, so short-term liquidity is fairly comfortable.
- Trailing metrics based on last year's finalized results are limited in gauging 'how cheap' in a single number because of the loss, so the price ultimately hinges more on the forward-looking trends of drug progress and cosmetics growth.
- Separating the top line from profit and loss reveals different textures.
- Revenue fell 11.4% from about ₩27.7 billion in 2024 to about ₩24.6 billion in 2025, and first-quarter 2026 revenue also declined 9.0% year on year.
- This is largely a deliberate top-line contraction from winding down the low-profitability contract-manufacturing segment.
- On profit and loss, the direction is clear.
- The net loss narrowed sharply over three years, from about -₩47.5 billion in 2023 to about -₩20.1 billion in 2024 to about -₩6.4 billion in 2025.
- The broad trend is improvement, with the loss narrowing rapidly.
- That said, the first-quarter 2026 net loss of about -₩6.8 billion widened again in a single quarter to roughly the size of last year's entire full-year loss.
- In other words, an inflection in which the loss re-expanded early this year is layered on top of the 'loss-narrowing' trend.
- For a company whose earnings have not yet reached the black, neither a trailing P/E based on last year's finalized results nor a forward P/E based on this year's expected earnings can be computed.
- Until a swing to profit is confirmed, the key is to track directly the scale of revenue, whether the loss narrows again, and whether cosmetics fill the gap left by contract manufacturing.
- Recent disclosures lean more toward shareholder and capital items than business events such as new orders or strong results.
- Alongside the May 2026 quarterly report, reports of holdings changes by executives and major shareholders and of changes in large holdings of 5% or more followed, and several corrections to filings of employee stock-option grants (the right to receive company shares at a set price) were also filed.
- Because these are a signal that share count and ownership structure may change, for existing shareholders the possibility of equity dilution is something to watch.
- Conversely, 'results and pipeline events' the company announces, such as clinical progress on drugs or cosmetics revenue growth, are best confirmed directly through separate disclosures and IR.
- The strengths are clear.
- The size of the loss has fallen sharply over three years, and cosmetics (UIQ), a business that actually earns money, is growing quickly and shifting the center of the top line from drug expectations toward results.
- The relatively high current ratio leaves comfort in short-term liquidity, and the P/B of 1.68x sits, if anything, lower than peer clinical-stage loss-making biotechs.
- There are points to be careful about too.
- The first-quarter 2026 net loss widened again to roughly the size of last year's entire full-year loss, so a swing to profit has not yet been confirmed, and revenue is falling as contract manufacturing is wound down, so whether cosmetics fill that gap is the crux.
- With frequent stock-option and holdings-change disclosures, the possibility of share-count dilution should also be watched.
- In sum, if a trend of cosmetics revenue more than offsetting the contract-manufacturing decline to rebuild the top line and the loss narrowing is confirmed, it reads strongly alongside the low P/B; in phases where the loss re-expands as in the first quarter, or where fundraising dilutes stakes, it reads weakly.
- Rather than concluding one way or the other, it is a stock to watch while checking these conditions.
🔎 Valuation vs peers Inconclusive
For clinical and R&D-stage biotechs with no profit, the P/E cannot be used, so we compare on P/B and business progress. Within the same pharma/biotech space, we gauge its position by placing alongside it both (a) R&D-stage companies still loss-making that must be viewed on P/B and (b) a company already turning a profit that is viewed on P/E.
| Peer | P/E | P/B | ROE |
|---|---|---|---|
| L&C Bio | — | 9.50x | -69.71% |
| Lunit | — | 5.71x | -34.48% |
| Hugel | 20.61x | 3.06x | 14.82% |
As a loss-making company for which the P/E cannot be derived, the comparison is made on P/B and business progress. Against R&D-stage loss-making biotechs at the same stage — L&C Bio (P/B 10.91x, ROE -69.7%) and Lunit (P/B 7.37x, ROE -34.5%) — Genome & Company's P/B of 2.23x is on the lower side, and its net-loss scale (ROE -6.1%) is far smaller than theirs. Conversely, Hugel, already turning a profit and valued at a P/E of 21.9x and P/B of 3.25x, is a reference point for a company that has 'graduated from losses,' whereas Genome & Company is still before that stage. Trailing metrics based on last year's finalized results make it hard to conclude 'cheap or expensive' because of the loss, so the justification for the price ultimately rests on whether cosmetics revenue more than offsets the contract-manufacturing decline to grow the top line and the loss narrows again, and whether clinical work progresses. So we leave value at this point inconclusive rather than concluding one way.
Price history Close · MA20 · MA60
The latest close is ₩3,830 and the market capitalization is ₩173.0 billion. The price sits below its 20-day moving average (₩4,362) and below its 60-day moving average (₩5,709). It is under both its short- and medium-term moving averages, so the trend looks subdued. The RSI (a supplementary indicator that gauges the strength of gains versus losses over the past 14 days on a 0-100 scale) is 39.6, a neutral level. The one-month change is -34.1%, the three-month change is -43.5%, and the position relative to the 52-week high is -61.6%. Relative strength versus the KOSDAQ is 82 (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 83% 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 -23.92% / 6M -33.36% / 12M +23.44%
Key metrics vs sector median
Valuation
A net loss makes the P/E an unreliable valuation gauge. The P/B of 1.62x is above the sector median (1.37x).
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
Return on equity (ROE) is -6.1%, below the sector average (3.0%). The operating margin is -118.9%. The debt ratio is 137.1%, so the financial structure is moderate.
Growth FY2025 · annual report (consolidated)
| Item | 2023 | 2024 | 2025 | YoY |
|---|---|---|---|---|
| Revenue | $9.5M | $18.4M | $16.3M | -11.38% ↓ slower |
| Operating profit | -$36.5M | -$16.0M | -$19.4M | — |
| Net profit | -$31.5M | -$13.3M | -$4.3M | — |
| 5-year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $299,074 | $9.3M | $9.5M | $18.4M | $16.3M |
| Operating profit | -$23.9M | -$38.1M | -$36.5M | -$16.0M | -$19.4M |
| Net profit | -$22.6M | -$34.4M | -$31.5M | -$13.3M | -$4.3M |
| Revenue CAGR | 4-yr avg 171.69% | ||||
Revenue fell 11.4% year over year (2023 ₩14.3 billion → 2024 ₩27.7 billion → 2025 ₩24.6 billion), and the three-year trend is 'mixed'. The rate of decline widened from the prior year. Operating results are in the red, so a swing back to profit matters more than the growth rate here. Over the 5 years on record, revenue compound annual growth (CAGR) is 171.7%. The two-year revenue CAGR is 31.1%. In the most recent quarter (Q1 2026), revenue was 9.0% lower than the same period a year earlier.
Latest quarterly results Q1 2026 · vs year-ago
Technical indicators
What stands out
- —
Points to watch
- The most recent full year was a loss, so it is worth checking whether profitability recovers.
- Revenue fell 11.4% year over year (3-year trend: mixed).
Recent news & events searched · sourced
- 2026-05-15FilingFirst-quarter 2026 quarterly report filed. Quarterly revenue fell 9.0% year on year and the net loss widened to about -₩6.8 billion.Short term: an inflection in the loss-narrowing trend. The revenue decline from winding down contract manufacturing and the re-expansion of the loss need to be confirmed together. Source
- 2026-05-29FilingReports of ownership of specific securities by executives and major shareholders and of large holdings of shares (general). Changes in major shareholders' holdings were reported.Medium term: the possibility of a change in ownership structure. Large-holding changes are a check item from a supply-demand and governance standpoint. Source
- 2026-05-14FilingMultiple corrections filed to the reports of employee stock-option grants (the right to receive company shares at a set price).Medium term: the possibility of share-count increase and existing-shareholder dilution upon future exercise. It signals a change in compensation design. Source
- 2026-05-27FilingLarge-holding report (summary form) filed. A change in the holdings of a 5%-or-more holder was reported.Short term: a change in the holdings of a major supply-demand participant. A reference point on the supply-and-support side. Source
Figure cross-check computed ↔ external
Recent filings
- 2026-05-29OwnershipOfficers'/major-shareholders' holdings report
- 2026-05-29OwnershipOfficers'/major-shareholders' holdings report
- 2026-05-29OwnershipOwnership-change filing
- 2026-05-27OwnershipOwnership-change filing
- 2026-05-27OwnershipOwnership-change filing
- 2026-05-15PeriodicQuarterly report
- 2026-05-14Amended filing
- 2026-05-14Amended filing
- 2026-05-14Amended filing
- 2026-05-14Amended filing
- 2026-05-14Amended filing
- 2026-05-14Amended filing
📖 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.