NextBioMedical Hits Record High Since Listing

Listed on KOSDAQ in August last year at an IPO price of 29,000 won
Hit an intraday high of 91,100 won on the 1st
Performance improves as exports of endoscopic hemostatic agent increase

NextBioMedical has set a new record high since its listing on the KOSDAQ market in August last year. The company’s profitability continued through the third quarter following the second quarter this year, boosting its corporate value.

According to the financial investment industry on December 2, NextBioMedical’s stock price has risen by 117% so far this year. At one point during the previous trading day, the stock price reached 91,100 won, marking a new all-time high since its listing. Compared to its initial public offering price of 29,000 won on August 20 last year, the stock is now trading at more than three times that amount. Its market capitalization has surpassed 700 billion won.

NextBioMedical is an innovative bio-solution company that develops therapeutic materials based on polymer and drug delivery system technologies. Its main products include: ▲Nexpowder, a hemostatic agent for endoscopy ▲Nexsphere™, a vascular embolization microsphere ▲Nexsphere™-F, an embolization agent for arthritis pain treatment.

Recognized for its technological excellence and innovation, the company is working closely with Medtronic, the world’s largest medical device company. NextBioMedical has signed a Quality Management System (QMS) agreement with Medtronic and established a world-class quality and technical documentation management system. In July 2020, the company signed a global distribution agreement with Medtronic for Nexpowder, its endoscopic hemostatic agent. The product is now available in the United States, Europe, Canada, and other markets. In the third quarter of this year, NextBioMedical also entered the Japanese market through CMI, a Japanese medical device company.

The endoscopic hemostatic agent is a powder designed for gastrointestinal bleeding. It is used to treat and prevent bleeding from peptic ulcers and post-endoscopic procedures. Nexpowder, developed by NextBioMedical, is a single-use medical device consisting of a hemostatic powder and a delivery device that can be used with an endoscope.

Exports of Nexpowder are driving performance improvements. In the third quarter of this year, the company recorded sales of 4.9 billion won and an operating profit of 400 million won. Sales increased by 125% compared to the same period last year, and operating profit turned positive.

Jung Donghee, a researcher at Samsung Securities, stated, “Exports to the United States and Europe through Medtronic are continuing at a scale of 400,000 to 500,000 dollars per month, respectively. Since September, official sales have also begun in Japan, where the product was listed for insurance reimbursement.” He added, “The post-marketing clinical trial that began last year will conclude in August next year. Based on the results of this trial, we expect Nexpowder to be included as a standard treatment guideline for major endoscopic bleeding cases.”

NextBioMedical is also conducting clinical trials in the United States for Nexsphere-F, its fast-degrading embolization agent for arthritis. The first patient was enrolled in October. In March, the U.S. Food and Drug Administration (FDA) designated Nexsphere-F as a breakthrough medical device. The company is aiming for approval in 2027. In Korea and Europe, where the product is already approved, NextBioMedical plans to further demonstrate its efficacy in relieving arthritis pain through post-marketing clinical trials.

Park Jonghyun, a researcher at Daol Investment & Securities, commented, “Nexsphere-F is expected to be a next-generation game changer for osteoarthritis. It is a fast-degrading vascular embolization product for the treatment of degenerative arthritis and tendinitis, working by blocking abnormal microvessels in the arthritic area to relieve pain.”

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