The company said Monday that employees bought shares on the open market this month through its Employee Stock Ownership Association (ESOA), which enables employees to acquire and hold shares in their employer. The latest round follows two previous purchases since the company listed on the KOSDAQ in December 2023.
To encourage participation, the firm has continued to offer employees opportunities to acquire shares after the listing, providing support including low-interest loans and flexible repayment periods.
The initiative is intended to give employees a direct a stake in the company's long-term growth and align their interests with its performance.
The latest purchases follow open-market buying by CEO Park Young-woo, who has been acquiring shares since June.
Shares, however, traded 4.36 percent lower at 8,560 won ($6.21) as of 9:36 a.m. Monday on the KOSDAQ. They opened at 8,740 won and fell as low as 8,440 won in early trading.
Y-Biologics develops antibody-based therapeutics through its proprietary drug pipeline and partnerships with other drug developers.
The biotech firm aims to broaden its portfolio and strengthen its position in the global antibody therapeutics market.
AJP Takeaways
• Y-Biologics completed its third employee share purchase since its KOSDAQ listing in December 2023, with about 65 percent of employees now owning company shares.
• Y-Biologics supports employee purchases through measures including low-interest loans and flexible repayment periods.
• Y-Biologics develops antibody-based drug candidates through its proprietary discovery technologies, internal pipeline and strategic partnerships.
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