HLB Panagene Q1: Revenue Down, Net Loss Widens, but Debt Ratio Improves Sharply
Q1 2026 consolidated revenue of KRW 3.13 billion (down 11.6% from KRW 3.54 billion in Q1 2025)
Consolidated operating loss of KRW 0.75 billion (vs. loss of KRW 0.73 billion) and net loss of KRW 1.07 billion (vs. loss of KRW 0.58 billion) – loss widened
Debt ratio improved sharply to 11.48% from 28.30% at year-end 2025, driven by early redemption of convertible bonds
In March 2026, acquired KRW 7.98 billion of the 5th and 6th convertible bonds before maturity (to be cancelled or resold)
R&D expenses of KRW 1.09 billion (34.9% of revenue) maintained
Expanded product portfolio with new product approvals and FDA listings