What Happened? NKMax Designated for Delisting Review
On September 24, 2025, NKMax was designated for delisting review due to a disclaimer of opinion from its 2023 audit. The Korea Exchange will decide whether to delist NKMax or grant a grace period by October 29, 2025. NKMax must submit a management improvement plan by October 22.
Why Did This Happen? Understanding NKMax’s Current Situation
NKMax, a developer of NK cell-based immunodiagnostic and therapeutic solutions, underwent corporate restructuring and returned to positive equity in June 2025. However, as of the first half of 2025, the company continues to face declining sales, operating losses, and net losses, along with losses from affiliates. While the growth potential of the immunocell therapy market is positive, increasing competition and development costs remain significant challenges.
What’s Next? Analyzing the Short-Term and Long-Term Impact
- Short-term Impact: Stock price decline, increased trading volatility, potential trading suspension.
- Long-term Impact: Depending on the management improvement plan and review results, NKMax faces delisting or a grace period. Even with a grace period, uncertainties in fundraising and business operations may persist.
What Should Investors Do? Investment Strategies and Key Considerations
- Conservative Approach: Investments in NKMax carry significant risks and require caution.
- Stay Informed: Closely monitor the management improvement plan, review outcomes, pipeline performance, and financial health.