[Asia Economy Reporter Lee Chun-hee] Precision Bio, a company specializing in in vitro diagnostics, recorded consolidated sales of 4 billion KRW in the third quarter of this year. This represents a 14.8% decrease compared to the same period last year.
Precision Bio announced on the 15th that its third-quarter sales amounted to 3.97689 billion KRW, down 14.8% year-on-year. Operating loss was 1.82563 billion KRW, and net loss was 2.17369 billion KRW, with deficits increasing by 116.5% and 231.5%, respectively.
On a cumulative basis for this year, sales reached 16.09484 billion KRW, operating loss was 2.5879 billion KRW, and net loss was 4.71392 billion KRW. In terms of sales, the company surpassed last year's total sales of 15.9 billion KRW by the third quarter, continuing its growth trend. However, while operating loss decreased by 19.7%, net loss increased by 80.3%.
The company explained that sales increased due to continued strong sales of clinical chemistry products in the European and domestic markets. The factory utilization rate, which was 37% in the first quarter, rose to 58% in the third quarter. Precision Bio plans to expand its supply capacity by constructing a second factory near its headquarters in Daejeon.
Additionally, the company signed a supply contract worth 118.2 billion KRW in February and is preparing to enter the North American animal diagnostics market with clinical chemistry products, targeting the first quarter of next year. It is also advancing the development of digital therapeutics (DTx) targeting chronic kidney disease and liver cirrhosis.
A Precision Bio representative stated, "Sales of COVID-19 diagnostic products have been gradually decreasing since the first quarter, but we are monitoring the situation to respond flexibly. Despite the weak sales of COVID-19 diagnostic products, routine diagnostics are expected to gradually increase, so the existing diagnostic business based on testing devices is expected to perform well."
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
