[Click eStock] "Genomictree, Explosive Growth Expected in Liquid Biopsy Cancer Diagnostic Products"

[Asia Economy Reporter Ji Yeon-jin] Daishin Securities announced on the 23rd that Genomictree's liquid biopsy cancer diagnostic product, which is undergoing domestic and global clinical trials, is expected to experience explosive growth once positive clinical results are secured and official approval and insurance registration are completed in South Korea, China, and the United States after 2024.

Genomictree, established in 2000 and listed on the KOSDAQ market in 2019, is a liquid biopsy diagnostic company. It developed EarlyTec, a stool-based liquid biopsy product for early cancer detection. EarlyTec can diagnose various cancers such as colorectal cancer, bladder cancer, and lung cancer.

Songhyeop Han, a researcher at Daishin Securities, stated, "As supply contracts with major domestic hospitals increase and partnership agreements in Europe and Southeast Asia take effect, expectations for sales growth are rising for EarlyTec-C (colorectal cancer)." He added, "Sales of EarlyTec-C are projected to reach 3 billion KRW this year, and EarlyTec-B is also expected to be commercialized in the U.S. next year (2023) through laboratory-developed test (LDT) services for bladder cancer." It was noted that competitor Pacific Edge also saw a significant increase in corporate value after receiving insurance registration following its LDT service.

The company's core business, the liquid biopsy cancer diagnostic market, has high potential and is currently in an early stage, with a high possibility of domestic companies penetrating the market compared to existing in vitro diagnostic sectors. Globally approved stool-based liquid biopsy cancer diagnostic products include two: ColoGuard developed by Exact Sciences in the U.S. and Genomictree's EarlyTec. Competitor Exact Sciences is listed on the NASDAQ in the U.S. with a market capitalization of approximately 12 trillion KRW.

This content was produced with the assistance of AI translation services.