ABL Bio Reports Operating Profit of 12.8 Billion KRW and Revenue of 49 Billion KRW in First Half of the Year

Turned Profitable in First Half
Operating Loss of 10.3 Billion KRW in 2Q... Deficit Widened YoY

ABL Bio announced on the 14th that its cumulative operating profit for the first half of this year reached 12.768 billion KRW, marking a turnaround to profitability compared to the same period last year.

Sanghoon Lee, CEO of ABL Bio.
Photo by Chunhee Lee

During this period, sales amounted to 48.972 billion KRW, representing a 157% increase compared to the first half of last year.

However, based on the second quarter of this year, the company recorded an operating loss of 10.343 billion KRW. This indicates a larger deficit compared to the same period last year. Second quarter sales were 8.59 billion KRW, showing a 47% decrease year-on-year.

An ABL Bio representative explained, "In the biotech business model, which focuses solely on research and development (R&D) as the core operation, it is extremely rare to achieve profitability solely from technology-related revenue due to significant R&D expenditures, and even if achieved, it is generally temporary. As we enter our sixth year since listing, we have been conducting research, development, and clinical trials using resources generated independently without borrowing or capital increases."

Currently, ABL Bio is conducting 15 global clinical trials across 7 clinical pipelines. With a diverse range of pipelines secured, ABL Bio expects opportunities to increase corporate value through technology transfers and other means in the future.

Lee Sang-hoon, CEO of ABL Bio, stated, "While running a company, it is easy to be exposed to negative temptations, but ABL Bio has steadfastly continued without losing its true nature. The recent successful initiation of clinical trials for ABL301, ABL503, and ABL103, along with numerous global patent registrations and academic activities, prove this. We will continue to be a company that pursues innovation and growth."

Meanwhile, ABL Bio is currently conducting more than 15 global clinical trials on over 7 pipelines, including 'ABL001,' either independently or through partners.

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