BioSolution: Q1 2026 Revenue Growth and Debt Ratio Improvement, Operating Loss Persists
Consolidated Q1 2026 revenue of 37.6 billion won, up 19.9% YoY, with cell therapy accounting for 69.3%
Consolidated operating loss of 1.299 billion won (similar to prior year), net loss narrowed to 2.039 billion from 2.420 billion
Debt ratio plummeted from 113.98% to 58.23% due to conversion of convertible bonds into equity (1,631,833 shares issued, capital increase of 9.9 billion won)
Cash and cash equivalents of 11.15 billion won (12/2025: 11.88 billion), improved financial structure
R&D expenses of 1.51 billion won (41.69% of revenue), down from 72.74% in prior year period
Key pipelines: CartilOiD Australia phase 1/2a IND approved (Jan 2026), Sperocure Korea phase 1/2a IND submitted (Nov 2025), anti-cancer immune cell therapy in preclinical
No shareholder return plans such as share buyback, cancellation, or dividend
No material pending litigation, negligible contingent liabilities