Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  KOREA EXCHANGE (KOSDAQ)  >  Seegene Inc    A096530   KR7096530001

SEEGENE INC

(A096530)
  Report
SummaryNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsOther languagesPress ReleasesOfficial PublicationsSector news

Seegene : Exports 10 million Corona Tests to Brazil

05/18/2020 | 09:47am EST

SEOUL, Korea, May 18, 2020 /CNW/ -- Seegene Inc. (096530.KQ), a leading developer of multiplex PCR technologies headquartered in South Korea, announced that it will export 10 million tests of its COVID-19 testing kits to Pan American Health Organization (PAHO) / World Health Organization (WHO) through Brazilian subsidiary, Seegene do Brasil Diagnosticos Ltda.

Seegenehas supplied 5 million tests of Allplex 2019-nCOV assay to Brazil and will supply remaining tests in the following weeks. Also, Seegene will discuss a further increase of up to 100% of the testing volume.

The company said, "This unprecedentedly large export volume emphasizes an explosive increase in demand for Seegene's COVID-19 product worldwide and demonstrates that our high volume testing system is gaining world recognition."

Seegene's Allplex 2019-nCOV Assay is eyeing a good response from the market as the capability of the assay that identifies 3 different target genes (E gene, RdRP gene and N gene) in a single-tube enables accurate and efficient diagnosis, and Seegene's automated system is extremely useful during the coronavirus pandemic where large volume of tests are required.

Seegene has already exported 20 million tests of the COVID-19 assays to over 60 countries and is ramping up the production rapidly to meet an increased demand across the globe.

The export volume to the Brazilian market is expected to rise as Seegene is negotiating supply agreement with the state government and private laboratories in Brazil. In addition, the company is planning with PAHO for further contracts with other countries in Latin America.

As Seegene's assay is already well-recognized in major European countries such as France, Germany, Italy and Spain, the company's solution for COVID-19 diagnosis surely secures a bridgehead for expanding the market presence to Latin America. This contract indeed marks a significant beginning for Seegene to further occupy the molecular diagnostics market in all of the countries in Latin America. 

About Seegene

Seegene (KQ : 096530) is a global pioneer in symptom-based in vitro molecular diagnostics focusing on advancing science to develop multiplex molecular technologies and to manufacture multiplex in vitro diagnostic devices and reagents. Seegene's core enabling power is the passion for wide spreading of multiplex molecular diagnostics to improve the quality of life and health of people. Using its innovative proprietary technologies, Seegene has been making considerable contributions to giving the most economic and clinic-friendly molecular diagnostic solutions for infectious diseases, genetics, pharmacogenetics, and oncology. For more information, please visit www.seegene.com.

Joon Kim
kjh8363@seegene.com

Jisoo Lee
jislee@seegene.com

Cision
View original content:http://www.prnewswire.com/news-releases/seegene-exports-10-million-corona-tests-to-brazil-301060832.html

SOURCE Seegene

© Canada Newswire, source Canada Newswire English

All news about SEEGENE INC
01/20SEEGENE : to advance business in Latin America in the New Year
AQ
01/06SEEGENE : COVID-19 test with saliva sample collection feature now available in E..
AQ
2020SEEGENE : COVID-19/FluA,B/RSV test with extraction-free feature now available in..
AQ
2020Hyundai's U.S. Actions in Response to Coronavirus (COVID-19)
AQ
2020SEEGENE : introduces a High-throughput 8-plex Test for Flu A, Flu B, RSV and COV..
AQ
2020SEEGENE : South Korean COVID-19 test kit maker Seegene posts second-quarter prof..
RE
2020Hyundai's U.S. Actions in Response to Coronavirus (COVID-19)
AQ
2020Hyundai's U.S. Actions in Response to Coronavirus (COVID-19)
AQ
2020Hyundai's U.S. Actions in Response to Coronavirus (COVID-19)
AQ
2020SEEGENE : Exports 10 million Corona Tests to Brazil
AQ
More news
Financials
Sales 2020 1 039 B 0,94 B 0,94 B
Net income 2020 500 B 0,45 B 0,45 B
Net cash 2020 410 B 0,37 B 0,37 B
P/E ratio 2020 9,19x
Yield 2020 0,06%
Capitalization 4 554 B 4 128 M 4 121 M
EV / Sales 2020 3,99x
EV / Sales 2021 3,37x
Nbr of Employees 216
Free-Float 67,3%
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 5
Average target price 330 560,00 KRW
Last Close Price 175 200,00 KRW
Spread / Highest target 145%
Spread / Average Target 88,7%
Spread / Lowest Target 52,4%
EPS Revisions
Managers and Directors
NameTitle
Jong-Yoon Chun Chief Executive Officer & Director
Jung-Yong Kim Director & Head-Finance
Kyung-Jun Chun Director
Hong-Il Yoon Independent Director
Jin-Soo Choi Director & Vice President
Sector and Competitors
1st jan.Capitalization (M$)
SEEGENE INC4 128
EXACT SCIENCES CORPORATION6.45%24 479
GUARDANT HEALTH, INC.16.32%15 726
BGI GENOMICS CO., LTD.31.71%10 351
INVITAE CORPORATION15.16%9 896
ADAPTIVE BIOTECHNOLOGIES CORPORATION5.09%8 960