ENCell reported on the 13th that its individual basis operating loss for last year was 15.683 billion won, a 33.42% increase compared to the previous year. During the same period, sales amounted to 7.2932 billion won, down 31.51% from the previous year.
The main revenue of ENCell comes from the contract manufacturing organization (CMO) of cell and gene therapy (CGT) pharmaceuticals for clinical trials for clients. ENCell analyzed that its sales declined last year due to temporary decreases in orders caused by the postponement of clinical trial schedules of client companies and the prolonged medical strike.
However, the company is seeing a continuation of contracts with domestic advanced biopharmaceutical corporations following a new contract with a global large pharmaceutical company in December of last year, and expects that revenues will normalize from the second half of the year.
An official from ENCell noted, "ENCell is making every effort not only in existing CMO but also in business diversification, and we expect to see visible improvements in performance after the first half of the year," adding, "We will do our best to expand sales and maximize operating profit by seizing market opportunities arising from changes to the Advanced Regenerative Medicine and Cellular Therapy Act based on the trust of domestic and foreign clients."