BL Pharmtech Q1 2026: Operating profit turns positive, revenue plummets, going concern uncertainty

Q1 2026 consolidated revenue: 1.52B KRW (down 49% YoY from 2.99B)
Consolidated operating profit: 0.49B KRW (vs -0.61B in Q1 2025), turning positive
Consolidated net income: 0.52B KRW (vs -1.07B in Q1 2025), turning positive
Accumulated deficit: 100.7B KRW; current assets exceed current liabilities by only 1.64B (going concern uncertainty)
Full conversion of 20th convertible bonds (2B KRW) into common shares (86,959 shares at 23,000 won each)
Recovery of equity securities worth 0.94B from Duke Korea lawsuit, reversal of allowance
Affiliate BL Melani's advancing anticancer drugs ML301/ML302; selected for Amgen Golden Ticket and recruited experts
Put option derivative liability of 2.21B (related to Magna ABC Fund)
Significant allowances for impairment on loans to related parties (12.49B in total)