GC Cell Q1 2026: Net Loss Narrowed, Pipeline and Tech Transfer on Track

Consolidated Q1 2026 revenue: KRW 37.3B (vs KRW 39.5B in Q1 2025), operating loss KRW 5.1B, net loss KRW 2.9B (improved from KRW 17.9B loss in Q1 2025, including KRW 4.6B fair value gain on financial assets)
Cell therapy (Immuncell-LC KRW 9.1B) and lab testing services (KRW 19.3B) account for 76% of sales
R&D expenses KRW 6.0B (16.1% of sales); key clinical trials: CD5 CAR-NK Phase 1 ongoing, Immuncell-LC pancreatic cancer Phase 3 ongoing
Continued NK cell therapy tech transfer with Artiva; Immuncell-LC tech transfer to PT Bifarma (Indonesia) completed (up to USD 10.5M milestones)
Short-term borrowings increased to KRW 69.5B (from KRW 51.6B at year-end 2025), cash and cash equivalents decreased to KRW 4.6B (from KRW 14.6B)
Operating cash flow negative KRW 16.4B; net profit improved due to fair value gains
BCMA CAR-T in-license from IASO Biotechnology (Oct 2025, multiple myeloma)
Holds 3 FDA Orphan Drug Designations (hepatocellular carcinoma, glioblastoma, pancreatic cancer)