Teragen Etex: Q1 Operating Profit Down, Net Loss Swings…Interim Dividend Introduced

Consolidated revenue KRW 68.5bn (+2% YoY), operating profit KRW 1.9bn (down 57% from KRW 4.5bn), net loss KRW 3.4bn (swing to loss)
Separate revenue KRW 43.6bn, operating profit KRW 1.7bn, net loss KRW 3.2bn
Impairment loss of KRW 5.3bn on assets held for sale (Medpacto shares) and KRW 3.4bn on financial assets drove net loss
Interim dividend introduced: articles amended at 36th AGM (allows interim dividends)
R&D expense KRW 1.2bn (1.8% of revenue), pipelines ongoing (personalized cancer vaccine, genomics)
Convertible bonds KRW 38bn (0% coupon, due 2029), derivative liability KRW 1.2bn
Choline alfoscerate clinical reassessment underway, patent infringement lawsuit pending (outcome uncertain)
Loan from key executives KRW 0.5bn