GemVax Posts 81.5 Billion Won in Sales Last Year... "Turns to Operating Profit"

GemVax & KAEL (hereinafter referred to as GemVax) announced on the 13th that it achieved a consolidated sales revenue of 81.5 billion won last year, succeeding in turning an operating profit.

GemVax reported over 30% year-on-year sales growth and a reduction in selling and administrative expenses, resulting in an operating profit of approximately 3.8 billion won and thereby turning a profit. On a separate basis, operating profit reached about 5.5 billion won.

Last year’s strong performance at GemVax was primarily driven by an unprecedented boom in the semiconductor industry. The semiconductor supercycle led to a surge in demand for filters, which are essential consumables in manufacturing processes, and this resulted in increased semiconductor filter sales for GemVax.

A GemVax representative stated, “We have continuously enhanced our technological capabilities and established unique competitiveness in the filter sector through ongoing R&D, enabling us to respond swiftly to market changes. With the semiconductor industry experiencing an unprecedented supercycle, we expect our strong performance to continue.”

In addition to its semiconductor filter business, GemVax is also focused on developing treatments for neurodegenerative diseases, such as Alzheimer’s disease and progressive supranuclear palsy (PSP), utilizing its peptide-based new drug candidate ‘GV1001’.

The PSP treatment GV1001 has received both Fast Track and Orphan Drug designations from the U.S. Food and Drug Administration (FDA), as well as Orphan Drug designation from the European Medicines Agency (EMA). The company expects to receive the domestic phase 2 clinical study report (CSR) for a 72-week study combining the PSP lead-in and extension trials early next month, and is planning a global phase 3 clinical trial.

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