Gencurix Q1 2026: Revenue Growth but Sharp Cash Decline and Continued Net Loss

Q1 2026 revenue of 2.1 billion KRW, up 23% YoY from 1.7 billion; cancer diagnostics accounted for 96.3%
Net loss of 2.37 billion KRW (EPS -101 won), widening from 2.0 billion loss in Q1 2025
Cash and cash equivalents plummeted 98% to 0.17 billion from 9.05 billion at year-end 2025; net debt surged to 10.3 billion from 0.6 billion
Other bad debt expense of 1.18 billion (related to affiliate loan) increased non-operating losses
Total borrowings 10.49 billion (year-end 2025: 9.67 billion); capital gearing ratio 42.4%, indicating weakened financial health
Issued 5,994,550 common shares via third-party capital increase, boosting equity capital and share premium
R&D costs 0.56 billion (26.7% of revenue); key pipelines (Droplex BRAF, PIK3CA, NSCLC Panel) in analytical performance verification and clinical stages
Lawsuit: appeal pending in building trespassing case after losing first trial
Recognized derivative liability of 2.88 billion for put option on GenoBio RCPS
No dividend or share buyback/cancellation plans