Corestemchemon Q1 Operating Loss Widens to KRW 6.0B; ALS Drug Production Halted

Consolidated Q1 2026 revenue down 29% YoY to KRW 4.3B; operating loss widens to KRW 6.0B (vs KRW 3.9B)
Net loss of KRW 6.9B (vs KRW 1.8B), EPS loss KRW 144
Production of cell therapy (NeuroNata-ALZ) remains suspended pending marketing authorization amendment and Osong ATMP GMP certification
Non-clinical CRO revenue KRW 4.2B (vs KRW 5.9B); both segments report operating losses
Cash and equivalents KRW 2.8B, total borrowings KRW 36.6B, net debt KRW 33.8B (capitalization ratio 41.24%)
Derivative liability valuation loss of KRW 1.0B from exchangeable bonds
R&D expense KRW 1.6B (40.6% of sales)
Accumulated deficit KRW 126.6B, total equity KRW 48.1B
Completed rights issue in Nov 2025 (20M shares) to strengthen capital base