[Featured Stock] GenCurix, Affiliate NgenBio Subscription Competition Rate 1502 to 1... 'Strong Performance'

[Asia Economy Reporter Yoo Hyun-seok] Cancer diagnosis specialist company GenCurix is showing strong performance. It appears to be influenced by the successful subscription of its affiliate, NgenBio.

As of 2 PM on the 3rd, GenCurix was trading at 20,150 KRW, up 4.12% (800 KRW) compared to the previous trading day.

On the previous day, NgenBio offered 488,800 shares to general investors, attracting 734,374,530 shares in subscriptions. The subscription competition rate recorded was 1502 to 1. A total of 5.1406 trillion KRW was gathered as deposit money.

Established in 2015 as a joint venture (JV) between KT and GenCurix, NgenBio is a gene diagnosis specialist company based on next-generation sequencing (NGS). It is recognized for establishing an independent domain in the field, having obtained approval from the Ministry of Food and Drug Safety for the first NGS technology-based precision diagnostic products for breast and ovarian cancer in Korea.

A GenCurix official stated, “Through NgenBio’s listing, smooth fundraising for research and development and business expansion will be possible, enabling continuous corporate growth. We will cooperate by utilizing the diagnostic areas of both companies and focus on technology development.”