Penetrium Bioscience: Q1 2026 Revenue Down, Net Loss Persists, Equity Boosted by FVOCI Gain
Q1 2026 consolidated revenue: KRW 1.69 billion (down ~24% QoQ); operating loss: KRW 1.84 billion; net loss: KRW 1.87 billion (narrowed from KRW 3.66 billion loss in Q1 2025)
Cash and cash equivalents: KRW 2.24 billion (down from KRW 4.78 billion at year-end 2025); short-term borrowings: KRW 5 billion; net debt ratio: 25.99% (29.82% at year-end)
Unrealized gain of KRW 11.89 billion on FVOCI financial assets (1.5% stake in Hyundai Bioscience); total equity increased to KRW 31.89 billion (from KRW 21.53 billion)
Credit rating: BB- / Cash flow rating: D (NICE D&B)
Maintained exclusive license agreement with major shareholder Hyundai Bioscience for breast/lung cancer drugs (upfront KRW 9.1 billion + milestones up to KRW 16.5 billion + royalties)
R&D expenses: KRW 0.14 billion (down from KRW 0.73 billion in prior year period); stock options granted (500,000 shares at exercise price KRW 11,512)
No dividend (accumulated deficit KRW -18.29 billion)