[Special Stock] Somagen Extends Genome Analysis Service with Moderna

SomaGen is showing strong performance. The news that the U.S. company Moderna, known for developing the COVID-19 vaccine, has signed an additional one-year contract to supply genomic sequencing services such as DNA and RNA from July this year through the first half of next year appears to be influencing the stock price.

At 2:02 PM on the 2nd, SomaGen was trading at 4,360 KRW, up 10.66% from the previous day.

SomaGen signed a genomic sequencing service contract worth 6.48 million USD (approximately 8.5 billion KRW) with Moderna for one year from the second half of last year through the first half of this year. The scale of this year's contract is similar to last year's, providing services for one year starting from July.

Hong Soo, CEO of SomaGen, stated, "We are confident that our close collaborative relationship with Moderna will continue in the future," adding, "Through the references accumulated over the past 10 years with Moderna, the volume of orders from global pharmaceutical companies such as AstraZeneca and Eli Lilly has been steadily increasing recently."