Earnings lift Lunit, DRTECH; lawsuit hits Curiox[K-bio pulse]

[Kim Jin Soo, Edaily Repoeter] Shares of Lunit and DRTECH rose on Nov. 13 as improving financial performance attracted investor interest. Lunit gained on revenue growth and narrowing operating losses, while DRTECH benefited from expanding medical device sales and expectations of increased industrial nondestructive testing equipment shipments to the Middle East.

In contrast, Curiox Biosystems shares plunged after the company announced a lawsuit against two global life sciences companies over alleged trade secret misappropriation and breach of contract. Although the legal action is intended to protect Curiox‘s proprietary technology, concerns over litigation-related uncertainty appeared to weigh on investor sentiment.

Lunit stock trend. (KG Zeroin)

Lunit rises as profitability improves

Shares of Lunit climbed as much as 17.8% during intraday trading to 16,160 won before paring gains to close at 15,020 won, up 9.48%, according to MP Doctor, a financial data service operated by KG Zeroin and formerly known as MarketPoint. Improving financial performance was cited as a key driver of the stock’s advance.

Lunit reported Nov. 12 that its consolidated revenue for the third quarter of 2026 reached 22.2 billion won ($15.3 million), while its operating loss totaled 10.7 billion won. Revenue increased 13% from a year earlier, while the operating loss narrowed by 50%.

The company‘s loss before interest, taxes, depreciation and amortization, or EBITDA, narrowed 77% year over year to 3.5 billion won. That marked its smallest quarterly EBITDA loss in 14 quarters, since the first quarter of 2023.

Cumulative revenue for the first nine months of 2026 reached a record 68 billion won, up 20% from the same period last year.

Recent buying by pension funds also appeared to support the share price.

Pension funds purchased a net 10.1 billion won worth of Lunit shares between Oct. 14 and Nov. 12. Although they sold a net 11.4 billion won on Nov. 11, they resumed buying the following day, purchasing a net 3.1 billion won.

Market observers said Lunit’s simultaneous pursuit of revenue growth and cost reductions has strengthened expectations for improved profitability. However, with the company still reporting operating losses, its ability to sustain that improvement is expected to remain a key factor influencing its share price.

“The sharp rise in our share price appears to reflect a combination of recent net buying by pension funds and growing expectations for improved financial performance,” a Lunit spokesperson said.

DRTECH gains on growth in medical devices and industrial equipment

Shares of DRTECH closed at 3,925 won, up 8.94% from the previous session, supported by improving earnings and expectations of increased overseas sales of industrial nondestructive testing equipment.

DRTECH announced Nov. 13 that it had received final approval from Saudi Aramco and Abu Dhabi National Oil Co., or ADNOC, for nondestructive testing procedures using its industrial bendable detectors.

The approvals go beyond product performance verification, establishing a basis for deploying the company‘s digital nondestructive testing equipment in actual industrial operations.

Bendable detectors are flexible digital X-ray detectors designed to conform to curved surfaces. They are used to inspect welds in oil and gas pipelines for cracks and other defects.

DRTECH expects the approvals to facilitate increased product shipments across the Middle East.

The company is also making progress in North America. DRTECH currently supplies 16-inch bendable detectors for large-diameter pipelines to a major North American nondestructive testing company. It recently secured approval for a smaller 2-inch model and is preparing additional shipments.

DRTECH also plans to expand its industrial equipment business into the aerospace and defense sectors.

Its medical device business continues to grow.

Sales volume of the company’s EXPEED series of dynamic digital X-ray detectors more than doubled in the first nine months of 2026 compared with the same period last year. Revenue from its EXTRON surgical C-arm systems increased 45%, while sales of its breast imaging products rose 16%.

Growth across these business segments has translated into stronger financial performance.

DRTECH reported third-quarter revenue of 34.5 billion won, its highest ever for a third quarter. Operating profit reached 2.2 billion won, marking a second consecutive quarter of operating profit exceeding 1 billion won.

Cumulative operating profit for the first nine months totaled 3.4 billion won.

“We are gradually establishing a foundation for normalized earnings and improved profitability,” a DRTECH spokesperson said. “The fact that we recorded operating profit exceeding 1 billion won in both the second and third quarters demonstrates that this trend is becoming increasingly evident.”

Curiox plunges amid uncertainty over trade secret lawsuit

Shares of Curiox Biosystems plunged 21.75% to close at 46,400 won, as investors appeared concerned about potential uncertainties stemming from the company‘s decision to initiate legal proceedings against major global life sciences companies.

Curiox announced Nov. 13 that it had filed a lawsuit against Becton, Dickinson and Co., or BD, and Waters Corp. in the U.S. District Court for the Northern District of California, alleging trade secret misappropriation and breach of contract.

The lawsuit centers on Curiox’s proprietary C-FREE technology, which enables centrifuge-free sample preparation for cell analysis.

According to Curiox, BD‘s biosciences division previously entered into a nondisclosure agreement with the company. The agreement included provisions prohibiting the use of confidential information to develop competing products through reverse engineering, unauthorized copying or similar activities.

The division was subsequently acquired by Waters.

Curiox alleges that the defendants violated their contractual obligations and improperly used its proprietary technology.

The company is seeking monetary damages and injunctive relief to prevent further unauthorized use of the technology.

While the lawsuit represents a proactive effort by Curiox to protect its core technology and intellectual property, investors appeared to focus on the potential risks associated with prolonged litigation.

Concerns over legal costs and uncertainty surrounding the outcome of the case may have contributed to the sharp decline in its share price.

“As the litigation is currently pending before the court, we have no additional comments to make regarding the matter,” a Curiox spokesperson said.