iX Biopharma share price rocketed 2,400%!
Could this be another SGX fairy-tale in the making, resembling the supersonic rallies of AEM Holdings and iFAST Corporation? Within a year, iX Biopharma share price had rocketed by an eye-popping 2,400%, surging from $0.020 to a high of $0.52. In light of the explosive form of iX Biopharma share price, an SG Wealth Builder member has requested for my insights.
By way of background, iX Biopharma Ltd is a specialty pharmaceutical and nutraceutical company focused on drug development and manufacturing. The company’s core technology lies in its flagship, patent-protected WaferiX® sublingual drug-delivery platform. This base platform patent holds significant strategic value, enabling iX Biopharma to secure numerous product-specific patents—including Wafermine®, Wafesil®, and the MeltMed Series.
To be frank, I think few investors would have paid attention to iX Biopharma prior to the historic rally. And for good reasons too. Listed in Catalist only in 2015, iX Biopharma had never been profitable and had been racking in multi-million losses year in and out. Given such scary financial track record, it is not surprising that IX Biopharma is under the radar of most Singapore investors. Most retail investors would typically shun loss-making penny stocks following the 2013 Singapore penny stock crash.
The turning point for iX Biopharma occurred when it strategically pivoted in the US market. In November 2025 it signed a non-binding term sheet with Orion Specialty Labs, an FDA-licensed 503B pharmacy, to manufacture and commercialize pharmaceutical and supplement products in US using iX Biopharma’s WaferiX® sublingual drug delivery technology. Consequently, the US pivot led to US$40.95 million U.S. Government contract to fund Wafermine, its sublingual ketamine wafer, for the treatment of acute moderate to severe pain.
Based on my limited knowledge, I have never come across the US military funding a research of this scale to a non-US company. As such, this US government award is exceptionally rare and virtually unprecedented for an SGX-listed biotech firm. Furthermore, the U.S. DoD awarded the contract on a sole-source basis, indicating that US military determined iX Biopharma possesses a unique drug-delivery technology no other competitor could provide to meet frontline operational needs.
Even more remarkable is that US government is determined to get iX’s WaferiX® sublingual drug delivery technology approved by FDA via Emergency Use Authorization (EUA) Pathway.
Interestingly, the contract is not typical of an investment funding from a capital venture in a biotech start-up, which entails injection of new equity and dilution of shares to existing shareholders. Instead, the US government contract fully reimburses the project costs and labour expenses. This major catalyst turbocharged iX Biopharma share price in early 2026.
However, the limelight really came when OCBC emerged as a substantial shareholder when its shareholdings crossed 5.04% in July 2026. With the backing from two institutional investors, iX Biopharma shareholders must be feeling giddy-headed. In this article, I will share my thoughts on this counter.
Note that this is an opinion article and not meant to be a financial advice. Please do your due diligence or engage financial advisors before investing in the stock market. Furthermore, I am not vested and have never invested in iX Biopharma before. Whether iX Biopharma share price will surge or collapse has no impact on me. Thus, this article is not meant to induce readers to make any form of investment decisions.
Two major risks that could derail iX Biopharma share price
Given the massive run-up in iX Biopharma share price, it certainly seems that the sky is the limit for the counter. However, the moment of truth will arrive if the share price suffers an unexpected train wreck. In my opinion, the biggest risk for this stock lies in its [This is a premium article. The rest of the content is blocked and can be accessible by SG Wealth Builder Members only. To read the full content, please sign up as member.]
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