New Risk • Jun 24
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of South Korean stocks, typically moving 13% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 37% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (13% average weekly change). Shareholders have been diluted in the past year (29% increase in shares outstanding). Market cap is less than US$100m (₩121.9b market cap, or US$79.1m). Announcement • Jun 23
Amicogen, Inc. announced that it expects to receive KRW 9.999998911 billion in funding Amicogen, Inc. has announced a private placement to issue common stock of 8,554,319 at the price of KRW 1,169 for the gross proceeds of KRW 9,999,998,911 on June 22, 2026. The transaction involves the new investor participation of YK Bionova Holdings Co., Ltd. for 8,554,319 shares. The transaction will happen through third party allocation. The transaction has been approved by the board of directors of the company. All the securities issued under the offering is subject to a hold period of 1 year from the date of issuance. The transaction is expected to close on July 15, 2026. New Risk • May 23
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -₩49b This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-₩49b free cash flow). Earnings have declined by 37% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (14% average weekly change). Shareholders have been diluted in the past year (29% increase in shares outstanding). Market cap is less than US$100m (₩128.3b market cap, or US$84.4m).