More than 15 South Korean listed biotech companies disclosed decisions this year to acquire their own convertible bonds (CBs) before maturity, according to the Financial Supervisory Service’s electronic disclosure system on September 18. Investors are increasingly seeking repayment rather than converting CBs into shares when market prices fall below conversion prices, requiring companies to make earlier-than-planned cash payments. Samsung Pharmaceutical announced the largest buyback at 20.225 billion Korean won, while HLB Pep, HLB Biostep, Shaperon, Engen Bio and Lunit were among other companies facing early redemptions. The obligations add pressure to biotech firms that must continue funding research and development and clinical trials. A securities-firm biotech analyst warned that companies with limited cash reserves may need additional financing, potentially diluting existing shareholders through rights offerings or similar measures.