Geninus Issues KRW 20B Convertible Preferred Shares, Debt Ratio Plunges from 332% to 110%; Q1 Revenue Down 9% YoY

In March 2026, issued KRW 20B convertible preferred shares (5,715,917 shares at KRW 3,499 each). Total equity increased from KRW 9.1B to 27.4B; debt ratio fell from 332% to 110%.
Consolidated Q1 2026 revenue: KRW 2.39B (down 9% YoY from KRW 2.63B), operating loss: KRW 2.05B (vs. KRW 2.37B), net loss: KRW 2.03B.
Launched new drug discovery platform IntelliMed in May 2025. Secured approx. KRW 5.4B in government projects for spatial omics.
Derivative liability of KRW 15.4B on convertible bonds (KRW 100B face). Subsidiary GxD in negative equity (-KRW 3.2B). Allowance for trade receivables: KRW 1.3B.
No dividend or share buyback plan. Going concern assumption intact but persistent losses.