Fact Source: Financial Supervisory Service DART / 2024-12-17
Disclosure Type: Execution of Single Sales/Supply Contract (Amendment)
💡 3-Second Summary
SAMSUNG BIOLOGICS has amended its 2020 biopharmaceutical contract manufacturing agreement with Checkpoint Therapeutics, Inc., moving the contract expiration date forward to December 17, 2024, due to the completion of contract performance.
📊 1. [Key Disclosure Content & Major Figures Summary]
- Reason for Amendment: Change in contract period due to completion of contract performance.
- Amendments Made (Data Integrity Verification):
- Contract Period Expiration: Changed from October 2, 2030 to December 17, 2024
- Core Contract Details:
- Title: Contract Manufacturing Agreement for Pharmaceuticals
- Counterparty: Checkpoint Therapeutics, Inc.
- Contract Value: KRW 22,934,104,200 (Total: USD 19,713,000; the filing notes that the confirmed contract amount may increase to USD 97,257,000 upon the customer’s successful development).
- Applied Exchange Rate: Fixed at the initial base rate of USD/KRW 1,163.40 as of October 6, 2020.
- Ratio to Revenue at Initial Filing: 3.27% (Compared against the respective fiscal year revenue of KRW 701,591,859,755).
- Key Timeline: Initial contract date: October 2, 2020 / Initial filing date: October 6, 2020 / Amendment Filing Date: December 17, 2024.
- Historical Context: This agreement represents an additional production contract connected to the single sales/supply contract initially disclosed on November 8, 2017.
📈 2. [Expert Insight: What This Disclosure Means for Investors]
This amendment filing, submitted on December 17, 2024, primarily updates the contract period of the previously disclosed 2020 manufacturing agreement following the formal completion of contractual obligations, ensuring data alignment within the public registry.
The primary fundamental point is that the contract conclusion stems from performance fulfillment rather than a cancellation or volume reduction. The timeline, originally set through 2030, has been officially wound down to December 17, 2024, as the manufacturing and delivery processes have concluded. The total contract value remains unchanged at the previously confirmed KRW 22.9B (USD 19.71M), and data validation shows that the ratio to historic revenue remains matched at 3.27%.
The amendment continuously maintains the clause regarding a potential expansion up to USD 97.26 million conditional upon the client’s development success. Because the filing does not detail any qualitative metrics or immediate net yield distributions from this final settlement, the contract process remains subject to future definitive disclosures regarding subsequent milestones. Rather than making speculative assumptions regarding the development outcomes, market participants should view this filing as confirmation of stable historic backlog execution.
📝 Editor’s Comment (by K-STOCK Editor)
SAMSUNG BIOLOGICS has processed an administrative amendment to its 2020 CMO contract ledger with Checkpoint Therapeutics. According to the document filed on December 17, 2024, the contract duration has been shortened from its original 2030 baseline to an official conclusion on December 17, 2024, following full performance fulfillment.
For international investors, this amendment constitutes a mechanical alignment of disclosure parameters rather than a new immediate operational driver or a fresh order inflow. The significance is strictly restricted to the formal closing of the contract period as the designated volume has been fully generated. The exchange rate from the initial disclosure date in 2020 (1,163.40) and the contract value remain fixed as stated in the filing. While the conditional text regarding potential expansion up to USD 97.2M remains on the ledger, it hinges entirely on future clinical or regulatory developments. Market participants should monitor subsequent official announcements based strictly on verified data while final accounting reconciliations are processed.
📢 Disclaimer and Source Information
Source: This content was newly structured and written based on official data submitted to the Financial Supervisory Service’s Electronic Disclosure System (DART).
Investment Risk Notice: This information is provided solely for informational and linguistic reference purposes. Under no circumstances does it constitute financial advice or a recommendation to buy or sell specific stocks. All investment decisions and financial responsibilities rest entirely with the investor.
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