With the impact of the global pandemic waning and the its second facility up and running next quarter, the CDMO company Mycenax will strive to return to growth this year, while its Korean ophthalmic drug client is expected to submit its application for drug approval in the first quarter and have its plant inspected by the end of the year.

Mycenax's revenue last year was down 5.4% due to lower milestone payments and the impact of the epidemic, and CDMO contributions were stable to slightly lower than the previous year.

Looking forward, it is believed that Mycenax's revenue from its CDMO business is expected to return to growth, with the largest number of CDMO customers currently coming from Japan. If all goes well, the eye drug will start making small contributions in the fourth quarter and expand to commercial volume production next year.

In response to the growth in demand from potential customers, the new facility is expected to commence production in the second quarter and will initially put in three large fermentation tanks with a full capacity of over $1 billion, more than double the current capacity.