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  • Biotech firms with net loss overestimate their performance
  • by Cha, Jihyun | translator Hong, Ji Yeon | Nov 12, 2025 06:19am
'Companies aim for surplus once listed'
All 15 surveyed companies that were listed this year under the Technology Exception Listing system were in a net loss position¡¦aim for tens of billions in surplus
Critics point out that biotech companies are more likely to 'overestimate' their future estimated performance and comparables when calculating public offering prices
While Korean biotech and healthcare companies are using the Technology Exception Listing system to challenge the Initial Public Offering (IPO) market, there have been concerns over their valuation methods. Critics argue that some companies are excessively inflating their valuations by presenting overly optimistic estimates of future performance or by selecting comparables that are significantly larger and established at the public offering price.

All 2024 listed biotech companies are in deficit, but the futue estimated earnings used for IPO price show tens of billions in surplus

According to the Financial Supervisory Service (FSS) on the 12th, a total of 10 biotech and healthcare companies have been listed th
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