[Market Focus] Neurofit Surges Over 50% on First Day of KOSDAQ Listing

Neurofit, a deep learning-based brain imaging analysis technology company, is soaring by more than 50% in early trading on its first day listed on KOSDAQ.

As of 10:02 a.m. on July 25, Neurofit's stock price stood at 22,000 won, up 57.14% from its IPO price of 14,000 won. The stock opened at 28,600 won and climbed as high as 29,400 won during intraday trading, but has since pared some of its gains.

During the public subscription for general investors held over two days on July 15 and 16, Neurofit recorded a competition rate of 1,922.75 to 1. The subscription deposit amounted to approximately 6.7296 trillion won. Previously, in the demand forecast for institutional investors conducted from July 4 to 10, the competition rate reached 1,087.6 to 1, leading to the IPO price being set at the top of the desired range (11,400 to 14,000 won), at 14,000 won.

Founded in 2016, Neurofit develops software tools that analyze diagnostic data such as brain magnetic resonance imaging (MRI) and positron emission tomography (PET) using artificial intelligence (AI). The company provides solutions for differential diagnosis of dementia, definitive diagnosis of Alzheimer's disease, and observation of side effects and prognosis. The funds raised from the IPO are planned to be used for further advancement of key solutions and technologies, as well as for overseas business expansion.

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