[Special Stock] 'Concerns Over Designation as Management Item' Genenbio Plunges 17% Early in Trading

[Asia Economy Reporter Lee Myunghwan] ZenenBio is plummeting sharply from the beginning of trading on the 10th due to concerns over being designated as a management item.

As of 9:25 AM on the same day, ZenenBio is trading at 2,630 KRW, down 17.81% (570 KRW) from the previous trading day.

This is interpreted as due to concerns that ZenenBio may be designated as a management item after recording operating losses for four consecutive business years.

The Korea Exchange requested ZenenBio on the 9th to disclose whether the concerns about designation as a management item are true and to provide specific details. In response, ZenenBio announced on the same day that reasons for designation as a management item occurred at the internal settlement point.

A ZenenBio official stated, "Operating losses have occurred for four consecutive recent business years based on separate standards," and added, "If this reason is confirmed by the audit report, the company may be designated as a management item."