[Public Notice+] FutureChem Reports 8.2 Billion KRW in Sales Last Year, Up 44.9% Year-on-Year

[Asia Economy Reporter Eunmo Koo] FutureChem, a company specializing in the development of new radiopharmaceutical drugs, announced on the 7th through a public disclosure that its consolidated financial statements for last year showed sales of 8.2 billion KRW and an operating loss of 5.3 billion KRW. Sales increased by 44.9% compared to the previous year, and the operating loss improved by about 2 billion KRW from 7.3 billion KRW in 2018.

Sales of the main product, PDView, a radiopharmaceutical for diagnosing Parkinson's disease, increased by 112.7%, from 900 million KRW in 2018 to 2 billion KRW last year. Sales of FDG and cassette reagents used in radiopharmaceutical manufacturing also rose by 52.0%, from 1.1 billion KRW to 1.7 billion KRW. Subsidiaries FutureChem Healthcare and SI Healthcare also contributed with sales growth of 47.8% and 42.2%, respectively.

A FutureChem official stated, "From the second half of this year, when production at Ewha Womans University Seoul Hospital and Kosin University Hospital becomes full-scale, sales and profitability growth will become visible. In particular, with the secured production facility for Alzaview and the expected future application of insurance coverage, we anticipate driving performance improvement."

FutureChem is currently conducting Phase 1 clinical trials of Prostaview, a prostate diagnostic drug, at Seoul St. Mary's Hospital and the Korea Institute of Radiological & Medical Sciences (Korea Atomic Energy Medical Center). On the 3rd, it received approval for an Investigational New Drug (IND) application for Phase 1 clinical trials from the U.S. Food and Drug Administration (FDA) and plans to conduct clinical trials centered at Johns Hopkins University Hospital.

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