DXVX (DXVX) succeeded in external growth in the second quarter of this year.
Dxnvx announced on the 14th that it recorded 14.1 billion won in sales in the second quarter, a 98% increase from the same period last year.
The expansion of the bio-healthcare business led by the Chinese subsidiary led to top-line growth. The sales of the bio-healthcare business in the second quarter were 11 billion won, up 143% from the second quarter of last year.
During the same period, operating loss turned to red at 2.24 billion won. However, excluding stock compensation costs of 2.85 billion won, which is a one-time non-cash expense, was reflected, and the operating profit was 600 million won.
Dxnvx is expected to continue its sales growth in the second half of the year as it expands its pharmaceutical distribution business in China and Korea. Through this, it is evaluated that it will be possible to turn to the black in the fourth quarter of this year at the earliest.
In China, it will release antibiotics, a basic medicine, under its own brand, and follow-up products such as skin disease treatments, arthritis supplements, and eye nutrients will be released one after another within the year. In addition, it plans to visualize partnerships with global pharmaceutical companies and release microbiome-based health supplements in the fourth quarter.
Research and development (R&D) is also actively underway. Dxnvx is promoting the development of its own new drug by establishing a new drug research headquarters and clinical development headquarters. Microbiome-based respiratory disease treatments and subsidiary Avixgen’s macular degeneration treatments are major pipelines. ONM-200, a vaccine candidate for immuno-oncology treatment, confirmed high safety and anti-cancer immune activation response in phase 1a clinical trial and is reviewing additional clinical trials.