[Click e-Stock] Hanyang Securities: "Samyang Biopharm as Top Pick in Bearish Biotech Market"

Hanyang Securities has recommended Samyang Biopharm as a top pick in the current bearish biotech market.

According to Hanyang Securities on June 25, Samyang Biopharm is recognized as the global leader in the surgical suture material industry, with a strong track record of stable earnings growth. The company is also considered to have significant upside potential thanks to its new gene therapy delivery technology, the 'SENS' platform.

Byungyong Oh, a research analyst at Hanyang Securities who authored the report, explained the rationale for the recommendation by stating, "In a bearish biotech market, we are focusing on companies with solid fundamentals that can support the bottom and those with major upside potential related to future R&D." No target price was provided.

Samyang Biopharm's sales in the first quarter reached 31.2 billion won, with suture material sales accounting for approximately 18.6 billion won. The company's operating profit target for this year exceeds 10 billion won.

Samyang Biopharm holds around 60 patents related to the SENS platform. SENS is regarded as having superior immunogenicity compared to LNP, resulting in less antibody production and no resistance, which makes it advantageous for long-term repeated administration. Analyst Oh explained, "Utilizing SENS, it is possible to develop gene therapies that are non-immunogenic and can be targeted to specific organs."

He added, “Samyang Biopharm is focusing on commercialization through partnerships with leading overseas gene therapy companies. The company is currently constructing a gene therapy plant in Daejeon, and business results in the second half of the year are highly anticipated.”

He also commented, "Given the lack of suitable alternatives to LNP, the potential for commercializing SENS is significant. SENS can also be applied to emerging new gene therapies such as in vivo CAR-T. Since it is a versatile platform, the initiation of even one or two early partnerships could result in a substantial increase in value."

This content was produced with the assistance of AI translation services.