Somagen, Only Reliable Factor is Performance... Growing Together with Moderna

[Asia Economy Reporter Hyungsoo Park] Somagen has successfully turned a profit in the third quarter of this year, entering a full-fledged growth phase. The stock price is also steadily trending upward, reflecting expectations of improved performance.

According to the financial investment industry on the 17th, Somagen's stock price rose 39.2% this month. Considering that the KOSDAQ index fell 1.7% during the same period, the market-relative return exceeds 40 percentage points.

Somagen recorded sales of $9.78 million and operating profit of $410,000 in the third quarter. Compared to the same period last year, sales increased by 66.4%, and operating profit turned positive.

Researcher Donggeon Lee of Shinhan Financial Investment explained, "Somagen recorded its first quarterly profit since its listing," adding, "Sales increased as the volume supplied to major clients such as Verantix, Edmera Health, Moderna, and NIH grew."

He continued, "NGS sales in the third quarter were $8.38 million, up 72.2% year-on-year," and "we expect to achieve profitable management in the fourth quarter as sales increase compared to the same period last year."

Lee analyzed, "Next year, annual profitability turnaround is also possible through expanding new contracts and launching new products," adding, "Sales will increase through the recently launched proteomics analysis service and microbiome-based female sexually transmitted infection and HPV testing services."

He added, "Profitability will improve as sales of highly profitable product groups rapidly increase."

Lee stated, "Among existing clients, sales to Moderna are rapidly increasing," noting, "Cumulative sales for the third quarter increased about threefold compared to the same period last year." Furthermore, he emphasized, "As Moderna expands its business, Somagen's order volume will also increase," adding, "Discussions are underway for new pharmaceutical company orders."

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