Syntekabio Clears Delisting Risk with Unqualified Audit Opinion

[Song Young Doo, Edaily Reporter] AI drug discovery company Syntekabio has received an “unqualified” audit opinion for its 17th fiscal year(2025), demonstrating both financial soundness and business stability.

According to a regulatory filing on March 20, the company confirmed that it obtained an unqualified opinion from its external auditor and met all KOSDAQ listing maintenance requirements, including revenue, pre-tax income(loss), and capital impairment ratio thresholds.

On a consolidated basis, Syntekabio reported revenue of KRW 3.429 billion(approximately USD 2.6 million) in 2025, marking a more than 2,700% year-over-year increase. The sharp growth reflects the initial monetization of its AI-driven drug discovery platform and related services. Since its KOSDAQ listing in December 2019 as a technology-special listing company, Syntekabio had been required to achieve annual revenue of at least KRW 3 billion. Surpassing this threshold has fully eliminated uncertainties regarding potential designation as a managed(watchlist) stock.

Profitability indicators also showed improvement. Although the company recorded an operating loss of approximately KRW 10.7 billion, the loss narrowed by around 75% compared to the previous year. This suggests that both revenue expansion and cost-efficiency measures have begun to take effect, indicating ongoing structural improvements in its operating base.

However, net loss widened during the period. The company explained that this was primarily due to a decrease in derivative valuation gains recognized in the prior year, along with increased financial expenses such as interest costs stemming from higher short-term borrowings. It emphasized that these factors are largely accounting-related and not directly tied to core operating performance, and therefore should be viewed separately from the company’s underlying revenue growth and reduction in operating losses.

Syntekabio noted that meeting the revenue threshold had been a critical milestone, and the latest audit report confirms that the company has now secured listing stability.

A company official stated, “With the unqualified audit opinion and achievement of the KRW 3 billion revenue requirement, we have effectively addressed market concerns regarding managed stock designation. This marks a meaningful step in demonstrating both business stabilization and financial improvement driven by external growth.”

The official added, “Starting this year, we are advancing diversification of our business portfolio centered on our data center-based AI drug discovery platform, including asset programs and a PaaS(Platform as a Service) model. Through this, we aim to expand our revenue base and achieve sustainable profitability over the mid to long term.”

송영두 (songzio@edaily.co.kr)