PMGC Holdings (ELAB) Plunges 57.06% Amid Regulatory Scrutiny, EBITDA Losses

The share price fell to its lowest level since August 2025 today, with an intraday decline of 36.17%.

PMGC Holdings (ELAB) has plunged 57.06% over the past 11 trading days amid regulatory scrutiny and deteriorating financials. A December 17 report highlighted concerns over potential legal risks, exacerbating a negative earnings trend marked by a $2.38 million EBITDA loss and pretax losses of $2.57 million. Despite October milestones, including ITAR compliance for its AGA Precision Systems subsidiary and the acquisition of Indarg Engineering to bolster technical capabilities, these strategic moves have been overshadowed by operational inefficiencies and thin revenue growth of $285,000.

Broader challenges include a $1.24 million SG&A expense burdening profitability and a debt-to-equity ratio of 0.52 fueling leverage concerns. While a $20 million equity line secured in September and a planned 5 million-share offering aim to stabilize liquidity, such measures risk diluting shareholder value. Market sentiment has also been pressured by sector-wide biotech/skincare scrutiny and macroeconomic volatility, as seen in a 500-point Dow Jones drop in October. Analysts stress the need for cost discipline, revenue diversification, and regulatory clarity to restore investor confidence.