Curocell Obtains MFDS Approval for CAR-T Therapy Rimqarto and Raises 72.6 Billion KRW
CAR-T therapy 'Rimqarto' (CRC01) received MFDS approval on April 29, 2026 for DLBCL and PMBCL
After the reporting period, on April 17, the board approved raising 36.3B KRW in convertible preferred shares and 36.3B KRW in convertible bonds, fully paid on April 27 (total 72.6B KRW)
Consolidated debt-to-equity ratio improved to 310.74% from 2,083% at year-end due to CB conversion and capital increase
Operating loss of 7.8B KRW and net loss of 8.7B KRW for the quarter, widening from the prior period
Phase 2 final results: CRR 67.1% (superior to competitors' 40-54%), ORR 75.3%
Cash and cash equivalents of 4.0B KRW; financial liabilities maturing within 1 year of 38.5B KRW (liquidity risk)
No revenue yet; consulting contract with Biruni (Turkey) for CAR-T manufacturing (USD 1M, recognized as advance)
R&D expenses of 6.4B KRW for the quarter; annual R&D about 32B KRW
No dividends (accumulated deficit; future shareholder returns to be considered when profitable)