Zencurix CEO Purchases Total of 100 Million KRW in Shares on Market... "Judging Stock Undervalued"

[Asia Economy Reporter Hyunseok Yoo] GenCurix, a liquid biopsy molecular diagnostics specialist company, announced on the 6th that its largest shareholder and CEO, Sangrae Cho, along with the management team, purchased an additional total of 6,970 shares on the market.

Since 2019, CEO Cho has been acquiring approximately 30,000 shares of the company’s stock to enhance shareholder value, and this time he purchased an additional 5,320 shares worth about 100 million KRW. Alongside him, Hyunwook Park, Vice President and Head of Strategic Planning, also purchased an additional 1,650 shares worth 30 million KRW, following his 1,533 shares acquired in 2019.

Sangrae Cho, CEO of GenCurix, stated, “Considering the commercial value and the stage of business development of the products the company holds, the current stock price is very undervalued, which led to the market purchase. As the largest shareholder, this will also strengthen responsible management.”

GenCurix has completed all regulatory approval procedures for its breast cancer prognosis diagnostic test, JinSwel BCT, and is currently proceeding with the process for sales within large general hospitals. The liquid biopsy products for early diagnosis of liver cancer (HEPA_eDX) and colorectal cancer (COLO_eDX), developed and completed at the end of last year, are planned to complete clinical trials within this year and obtain approval from the Ministry of Food and Drug Safety early next year.

The EGFR companion diagnostic test for lung cancer patients became eligible for health insurance coverage starting this year, and full-scale deliveries to general hospitals began last month. In addition to the EGFR test, regulatory approvals are also being pursued for Droplex companion diagnostic tests, including KRAS, BRAF, POLE, and C-MET, which have already been developed.

A GenCurix representative said, “Important projects that can realize meaningful external growth are progressing smoothly this year. We will swiftly proceed with regulatory approvals for the completed products and simultaneously devote full efforts to research and development to further strengthen our technological superiority in the liquid biopsy field.”