By contrast, Prestige Biologics plunged by double digits as expectations tied to a possible contract with Celltrion evaporated.
JPMorgan Healthcare Conference
◇JPMHC Four Days Away, Investor Expectations Build
The market’s main catalyst of the day was the upcoming J.P. Morgan Healthcare Conference, widely known as JPMHC. The world’s largest pharmaceutical and biotech investment event will be held Jan. 13 to 16 in San Francisco, or Jan. 12 to 15 local time. Marking its 43rd edition, the conference is expected to draw more than 550 pharmaceutical, biotech and healthcare companies and over 8,000 participants.
Gencurix, which issued a press release announcing its participation in JPMHC, surged to its daily upper limit, rising 29.7 percent to become the biggest beneficiary of conference-related momentum. The cancer molecular diagnostics company said it plans a series of meetings with global industry leaders Roche, QIAGEN and Bio-Rad, often referred to as the top three players in the molecular diagnostics market.
The company said it will discuss expanding its portfolio of digital PCR-based cancer diagnostics and strategies for global market penetration. It also plans to further flesh out its U.S. market entry strategy following the conference.
Rznomics, which listed on the KOSDAQ in December, also rallied ahead of JPMHC, rising 22.9 percent to close at 193,900 won. The stock has climbed more than eightfold from its IPO price of 22,500 won.
Before its listing, Rznomics signed a global licensing deal with Eli Lilly in May last year worth about 1.9 trillion won to develop RNA editing therapeutics. Milestone payments from the deal are expected to begin this year.
Revenue reached 7.1 billion won through the third quarter of last year, reflecting upfront payments from the Eli Lilly deal. Operating loss narrowed slightly year on year to 9.2 billion won.
A Rznomics official said Chief Executive Lee Sung-wook, Vice President Hong Sung-woo and members of the business development team will attend JPMHC to hold meetings related to existing material transfer agreements and technology validation. The focus will be on requested meetings rather than actively seeking new partners.
◇WSI Eyes 2026 as First Full Year of Medical Robot Business
WSI 'U-BOT' (Source: WSI)
Pharmaceutical and medical device distributor WSI closed up 15.1 percent at 3,785 won. The company attributed the rally to growing expectations surrounding its new medical robot business.
A WSI official said asset managers have contacted the company since last week, expressing interest in adding the stock to their portfolios. The official noted that robot-related companies have recently drawn market attention and that WSI has also resolved overhang risks, helping fuel investor interest.
WSI posted revenue of 40.4 billion won and operating profit of 3.9 billion won in 2024. Through the third quarter, cumulative revenue reached 39.2 billion won and operating profit totaled 3.3 billion won putting the company on track to surpass its previous year’s performance.
WSI is drawing attention over whether it can successfully pivot from a distributor to a medical robot company as it prepares for domestic regulatory approval of its new product this year. Its subsidiary EasyMedBot has developed what it claims is the world’s first robotic uterine manipulator U-BOT.
U-BOT is an automated uterine position control robot equipped with detachable control units and patient specific disposable components inserted into the body. Medical staff can remotely operate the system using a joystick and voice recognition. The robot can replace more than two assistants typically required in conventional laparoscopic surgery with an artificial intelligence powered robotic arm, reducing manpower needs to one.
A WSI official said U-BOT is expected to receive product approval from the Ministry of Food and Drug Safety around the second quarter. The company plans to actively promote the device at academic conferences and exhibitions in the second half of the year, with the goal of supplying major hospitals starting next year.
◇Prestige Biologics Rises and Falls on Celltrion Speculation
Shares of Prestige Biologics fell sharply after reports said its contract partner was not Celltrion. The stock closed down 14.2 percent at 3,235 won.
The company’s shares had risen on Jan. 7 and 8 following speculation that Celltrion was the counterparty to a 14.4 billion won contract manufacturing agreement signed last year. However, PharmEdaily reported Wednesday afternoon that Celltrion was not the partner, triggering an immediate reversal of gains.
A Celltrion official said the 14.4 billion won CMO contract disclosed by Prestige Biologics was not signed with Celltrion.
Some retail investors had even speculated about a potential acquisition by Celltrion, amplifying disappointment when the reports were denied.
Prestige Biologics said it remains confident, citing growing order volumes and improving performance. The company secured total orders worth 36.7 billion won last year, including sizable contracts from external clients in addition to its parent company.
A Prestige Biologics official said the company has been invited to attend JPMHC, adding that the invitation itself reflects external recognition of its technological capabilities. The official said the company aims to maintain a similar level of orders this year as in the second half of last year.
