[Market Focus] QuantaMatrix Surges Over 10% as Financial Concerns Ease

With concerns over QuantaMatrix's finances easing following a capital raise of 36 billion won, the company's stock price is on the rise.

As of 9:08 a.m. on December 26, QuantaMatrix was trading at 4,990 won on the KOSDAQ market, up 490 won (10.89%) from the previous trading day.

Founded in 2010, QuantaMatrix is a manufacturer specializing in rapid antibiotic susceptibility testing products and has expanded its business through its dRAST product. In July of last year, the company published a paper on uRAST, which quickly identifies the optimal antibiotic for patients, in the world-renowned scientific journal Nature. The uRAST product is expected to be launched within three years.

Previously, on December 22, QuantaMatrix issued perpetual convertible bonds worth 36 billion won. The bonds were acquired by PentaStone No. 3 New Technology Investment Association, in which listed company Mico holds a 99% stake. On December 24, the company disclosed a management rights transfer agreement, which includes restrictions on the sale of shares held by the largest existing shareholder.

On this day, independent research firm ValueFinder commented on QuantaMatrix, stating, "Attention should be paid to the acceleration of the company's global roadmap through the capital raise."

Lee Chungheon, a researcher at ValueFinder, explained, "Although perpetual convertible bonds are technically bonds, they are effectively recognized as equity. This has created a situation in which the company can resolve the issue of loss from continuing operations before income taxes, which has been a concern in the market. With total equity increasing to approximately 40 billion won, the company now has secured funding to continue research and development for about three years, which is a positive factor."

He added, "In addition, the company has already secured more than 15 billion won in research and development funding this year from domestic and U.S. government infectious disease response funds (CARB-X). Taking this into account, the company has secured over 50 billion won in total, raising expectations for the acceleration of the global commercialization roadmap for dRAST and uRAST. With financial risks resolved, if the company uses these funds to further expand into global markets, a revaluation of its corporate value is possible."