[Click eStock] "GenCurix, Likely to Become No.1 in Breast Cancer Prognostic Diagnostic Products Market... Sales Starting from June"

[Asia Economy Reporter Hyunseok Yoo] Hanyang Securities analyzed on the 10th that sales of the breast cancer prognosis diagnostic product of GenCurix will soon occur. No investment opinion or target price was presented.

Byungyong Oh, a researcher at Hanyang Securities, said, "The breast cancer prognosis diagnostic ‘GenesWell BCT’ is highly anticipated as it is the only breast cancer prognosis diagnostic test approved in Korea," adding, "Currently, the US company ‘EXACT Sciences’ product ‘oncotypeDX’ is sold exclusively in Korea, but as it is an unapproved domestic product, insurance is not applied."

He stated, "GenCurix’s product is an approved product, so it is eligible for indemnity insurance, and since its efficacy has been proven in Asian patients, it is more competitive in Korea than ‘oncotypeDX,’ which only conducted clinical trials on Caucasians," emphasizing, "It is also a cheaper test, and full-scale sales are scheduled to begin in June. We believe it has the potential to become the market leader in the future."

Researcher Oh also analyzed that the likelihood of success for the liver cancer and colorectal cancer early diagnosis products, which are pending approval, is high. He especially expected a significant impact upon their release. In the case of Korea’s Genomictree, its market capitalization once exceeded 700 billion KRW while pursuing approval for a colorectal cancer stool early diagnosis product. Additionally, ‘EXACT Sciences,’ which launched a colorectal cancer stool early diagnosis product in the US, recorded annual sales of approximately 800 billion KRW from that product alone as of last year, with a market capitalization reaching about 20 trillion KRW.

Oh explained, "GenCurix’s early diagnosis products are liquid biopsy products that use blood to detect liver and colorectal cancer early, rather than stool tests," adding, "Because it is much more convenient than stool tests, market entry could be easier, and the impact upon product launch could be significant."

He evaluated, "They are currently collecting specimens for clinical trials and will enter about two weeks of clinical trials in the second half of the year," adding, "Of course, results cannot be guaranteed, but since GenCurix’s market capitalization is only 137.1 billion KRW, expectations are likely to grow as the approval schedule approaches."