Olix Q1 2026 Revenue KRW 3.57B... Lilly & Hansoh Tech Transfer Deals on Track

Q1 2026 revenue KRW 3.57B (up 266% YoY from KRW 0.98B), operating loss KRW 10.79B, net loss KRW 9.77B. R&D expense KRW 8.83B (247% of revenue).
Phase 1 clinical trial for MASH/obesity drug (OLX702A) ongoing in Australia under Lilly deal (up to USD 630M). Hansoh GalNAc-asiRNA license deal (up to USD 330M) continues.
Pipeline: OLX702A (Phase 1), OLX104C (alopecia, Phase 1b/2a), OLX301A (AMD, Phase 1 completed), OLX101A (hypertrophic scar, Phase 2a PoC). OASIS platform advancement and CNS expansion.
Assets KRW 186.3B, liabilities KRW 41.0B, equity KRW 145.4B. Cash & equivalents KRW 11.1B, short-term financial instruments KRW 87.8B. Borrowings KRW 20.6B (vs KRW 22.1B at year-end 2025).
Risks: Litigation with Samyang Holdings (appeal ongoing, claim KRW 1.15B), FX and interest rate exposure, accumulated deficit KRW 201.4B.
No dividends. No share buyback or cancellation planned.