PeopleBio Reports 807% Growth with 900 Million KRW in 2Q Sales... Operating Loss Also Decreases

[Asia Economy Reporter Chunhee Lee] PeopleBio, a company specializing in blood-based early diagnosis of degenerative brain diseases, continues to show steady sales growth.

PeopleBio announced on the 30th that it recorded sales of 926.4 million KRW in the second quarter of this year on a separate basis. This is more than double the 447.82 million KRW recorded in the previous quarter and represents nearly 807% growth compared to 102 million KRW in the same period last year.

However, in terms of operating profit, the company posted a loss of 1.6 billion KRW. Although this is a decrease compared to the 1.9 billion KRW loss in the same period last year, the company continued to incur losses. The company explained, "Thanks to the significant increase in sales, the extent of operating losses has also decreased."

The sales growth is attributed to the establishment of a nationwide Alzheimer's disease blood test system. Building an Alzheimer's disease blood test service infrastructure centered on the five major domestic contract testing institutions in the first half of this year directly led to increased sales, indicating that meaningful revenue has begun to emerge from the core diagnostic business.

PeopleBio plans to focus on introducing and expanding Alzheimer's disease blood test services to general hospitals and clinics nationwide by the end of this year. A PeopleBio representative stated, "As the number of hospitals and clinics conducting tests expands in the second half of the year, we plan to significantly increase promotion and marketing from the end of this year," adding, "Through this, a substantial increase in sales is expected starting from the first quarter of next year."

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