GI Innovation: Q1 2026 Operating Loss Widens but Clinical Progress and Strong Cash Position
Q1 2026: No revenue, operating loss of KRW 12.35B (vs KRW 11.84B YoY), net loss of KRW 12.33B (vs KRW 12.82B YoY), continuing losses.
Cash and cash equivalents of KRW 24.8B, plus KRW 54.3B in debt securities (FVTPL), total liquidity ~KRW 79.1B. Debt ratio 7.72%, sound financial structure.
Key pipeline progress: GI-101/GI-102 (immuno-oncology) in Phase 1/2 in US/Korea; GI-301 (allergy) global Phase 2 (CLEAR) led by Yuhan; GI-108 (metabolic immuno-oncology) Phase 1/2a initiated.
Ongoing collaboration with MSD for Keytruda combination. GI-101 licensed to Simcere ($790M), GI-301 to Yuhan (KRW 1.4T) and Maruho ($221M).
No shareholder return (buyback/dividend) activities.
R&D expenses increased to KRW 9.8B (vs KRW 8.5B YoY), headcount stable at 67.