1. Igene’s 2025 Half-Year Performance: Growth and Risk
Igene recorded KRW 1.69 billion in revenue in the first half of 2025, a 56% increase year-over-year. However, it also reported an operating loss of KRW 4.95 billion and worsening capital impairment. These contrasting results present both opportunities and risks for investors.
2. Key Businesses and Pipeline Analysis: Future Growth Drivers
- mRNA COVID-19 Vaccine (EG-COVID): Next-generation vaccine based on the saRNA platform, targeting Phase 3 clinical trial completion and product approval by 2028.
- AAV-based Ophthalmic Disease Therapeutics: Developing treatments for macular degeneration and diabetic retinopathy.
- Tetravalent Meningococcal Conjugate Vaccine (EG-MCV4): Received IND approval for Phase 2/3 clinical trials in Korea in June 2025.
- Recombinant Botulinum Toxin (EG-rBTX100): Utilizing recombinant technology to avoid resistance and patent disputes.
These pipelines hold high growth potential, but the uncertainties of R&D and intensifying competition should be considered.
3. Investment Strategy: Conservative Approach, Key Indicator Monitoring is Crucial
While Igene holds long-term growth potential, a conservative approach is advised considering the current financial status and development uncertainties. Investors should monitor these key indicators:
- Clinical development progress and results of the pipeline
- Commercialization and revenue generation of key businesses
- Financial structure improvement plans and execution
- Technology transfer and partnership agreements
- Changes in the macroeconomic environment