1. Cellbyon Q2 2025 Performance: Wider-Than-Expected Loss

Cellbyon recorded KRW 884 million in revenue in the first half of 2025, a significant decrease compared to the previous year. Operating and net losses widened to KRW -3.7 billion and KRW -3.3 billion, respectively. Increased R&D expenses are the primary cause, indicating continued investment in new drug development.

2. Lu-177-DGUL Clinical Trial Progress: Positive Momentum Gained

The prostate cancer drug Lu-177-DGUL showed positive data in Phase 2 domestic clinical trials, raising expectations. Selection as an excellent project by the Korea Drug Development Fund and designation as GIFT 11 are also positive factors. With patient dosing completed in Q2 and image evaluation scheduled for Q3, the drug has entered a crucial stage towards applying for conditional approval.

3. Cellbyon’s Future: Focus on New Drug Development Potential

In the short term, declining sales and widening losses may pose a burden. However, the progress of Lu-177-DGUL is expected to act as a mid-to-long-term growth driver. Successful approval and commercialization of the drug are anticipated to boost sales and improve profitability.

4. Action Plan for Investors

  • Short-term Investors: Be mindful of price volatility and consider utilizing potential short-term price declines as buying opportunities.
  • Mid-to-Long-Term Investors: Focus on the potential for successful new drug development and consider investments from a long-term perspective. It is crucial to monitor clinical trial results, conditional approval application, and approval process to adjust investment strategies accordingly.