LabGenomics Resolves Overhang Issue..."Former CEO's Remaining Shares Exit"

LabGenomics announced on the 8th that its former CEO conducted a block deal (large-scale off-hours trading) for an exit (capital recovery).

Jin Seung-hyun, former CEO of LabGenomics, sold the management rights to Luha PE (Private Equity) in January. After the change in management rights, he sold 2,877,896 shares he held through a pre-market block trade to institutional investors on the 8th. With this sale, all of Jin's remaining shares that were considered overhang were disposed of.

A LabGenomics representative stated, "Since the stock transfer transaction in January, all remaining shares held by Mr. Jin have been sold, resolving the overhang issue," and added, "We will continue to strive to enhance corporate value through the acquisition of the US CliaLab, participation in the Cancer Moonshot project, and expansion of research and development achievements."

Last month on the 17th, LabGenomics acquired 100% of the shares of the US CliaLab 'QDx' for 76.8 billion KRW. Through this, significant sales growth is expected by expanding the product line, reducing costs through the introduction of in-house laboratory-developed tests (LDT), and improving the average selling price (ASP).

LabGenomics plans to introduce three next-generation sequencing (NGS)-based cancer diagnostic panels together with QDx and establish cooperative systems with global healthcare companies in various fields.

Meanwhile, the company announced on the 6th that it will participate in the Cancer Moonshot, a cancer conquest project promoted by the US government. Recently, it also launched 'OTD-Lung,' the first companion diagnostic test in Korea targeting non-small cell lung cancer.

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