SkyLabs stock surges following KOSDAQ listing and clinical data release

SkyLabs, a medical device company specializing in wearable health technology, has seen its stock price surge on the KOSDAQ market following its recent listing. By the morning of the eighth, shares were trading at approximately 37,050 KRW, representing a more than 3.5-fold increase from its initial public offering (IPO) price of 10,000 KRW.

The upward momentum is attributed to recent clinical research findings presented at the European Society of Cardiology (ESC) Congress in Munich, Germany. SkyLabs shared data regarding its ring-type blood pressure monitor, ‘CART’, demonstrating an 80% valid data analysis rate for patients with atrial fibrillation.

SkyLabs utilizes photoplethysmography (PPG) sensors and AI algorithms to monitor blood pressure continuously through a ring format, offering an alternative to traditional arm cuffs. The company is currently expanding its presence in domestic hospitals and pursuing international growth, including partnerships in Europe and preparations for US FDA clearance.