Withus Pharm Q1 2026 Net Profit Surges 141%, Decides to Cancel Treasury Shares
Q1 2026 revenue of KRW 28.2 billion (+9.5% YoY), operating profit of KRW 0.24 billion (0.9% margin), net profit of KRW 3.97 billion (+141% YoY, reflecting tax benefit of KRW 3.26 billion)
On April 10, 2026, completed cancellation of 2,459 treasury shares (all) through capital reduction from retained earnings. Total shares outstanding reduced to 13,199,680, zero treasury shares
Total assets KRW 142.6 billion, liabilities KRW 40.6 billion, equity KRW 102.0 billion. Cash and equivalents KRW 19.2 billion, net debt-to-equity ratio 21%
Improved new drug WU-24002 (hypertension) approved, launch expected July 2026. Atoren 40mg launched in February. Prostate hyperplasia treatment (WU-22001) in Phase 1 clinical preparation
Loans to related parties KRW 3.29 billion (employees). Health agency fee transaction with Daeah Medical Foundation (KRW 2.5 million)
No dividends for the past three years (21st, 22nd terms). Shareholder return via treasury stock cancellation
Trade receivables allowance for doubtful accounts KRW 1.28 billion (4.76% coverage). Full provision for overdue >24 months of KRW 1.26 billion
Contingent liability: joint clinical re-evaluation of choline alfoscerate underway (impact on financial statements not estimable)