Handok Q1 2026: Separate Revenue Up 11.1%, Operating Profit Turns Positive, Consolidated Net Loss Widens

Separate revenue KRW 131.5bn (+11.1% YoY), operating profit KRW 0.2bn (turned positive)
Separate net loss KRW 4.1bn (down 73.7% YoY); consolidated net loss KRW 8.6bn (vs. KRW 2.2bn full-year 2025)
Main cause of consolidated loss: equity method losses from associates KRW 4.8bn (Genexine, Rezolute, etc.)
Borrowings KRW 179.3bn, cash KRW 12.7bn
R&D expenses KRW 5.9bn (4.49% of revenue)
Key pipelines: HL2356 (growth hormone) preparing for Phase 3, HD-B001A (biliary tract cancer) completed domestic Phase 2, ongoing Phase 2/3 in US/Korea
No share buyback, cancellation, or dividend announcement