SYNTEKABIO CEO Jeong Jongseon Purchases 90,000 Company Shares on Open Market, Expresses Confidence in AI Drug Development Achievements

SYNTEKABIO, an artificial intelligence (AI)-based drug development company, announced on May 19 that CEO Jeong Jongseon had purchased 90,000 shares of the company's stock on the open market over the past five trading days.

According to the large-shareholding report disclosed the previous day, CEO Jeong's shareholding increased from 3,393,710 shares to 3,483,710 shares. This represents approximately 14.36% of the company's total outstanding shares, which stands at 24,258,475 shares.

The company explained that this share purchase reflects the CEO's strong confidence in SYNTEKABIO's technological strength and long-term growth potential, even amid recent market volatility. Additionally, the move is intended to demonstrate a commitment to responsible management and to communicate the company's determination to enhance shareholder value to the market.

SYNTEKABIO is currently accelerating its "AI-driven Asset Program" for new drug development based on its proprietary AI platform. The program focuses on advancing a structure that identifies in-house drug candidates and links them to commercialization.

The company emphasized that the Asset Program is a key strategy for transforming its business model from simple contract-based services to a revenue-generating model built on its own pipeline. It further stated that, starting from the third quarter of this year, related results are expected to be gradually reflected in revenue, making tangible business achievements visible.

CEO Jeong Jongseon commented, "Considering our ongoing key projects and technological competitiveness, the company's growth potential is very strong. This share purchase was also a decision based on my confidence in our corporate value." He added, "We will continue to do our utmost to achieve sustained growth and enhance shareholder value going forward."

Industry observers have assessed that the continued open-market share purchases by the largest shareholder may have a positive effect on investor sentiment, in line with expectations for improved business performance.

This latest share buyback is seen as a demonstration of management's direct confidence in the company's growth prospects, as SYNTEKABIO accelerates the expansion of its AI-based in-house drug pipeline business.

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