Aptabio 2026 Q1: Losses continue but pet business sales increase

Consolidated revenue KRW 957M (up 150% from KRW 383M), driven by pet products and health functional food ODM
Operating loss KRW 6,549M, net loss KRW 6,445M (vs KRW 2,579M), widening losses
R&D expenses KRW 5,020M, R&D/revenue ratio 588.5% (vs 308.2%)
Cash and cash equivalents KRW 7,823M (down 51% from KRW 16,079M at year-end 2025)
Convertible bond balance KRW 7.24B (conversion price KRW 9,565), derivative liability KRW 2,588M
APX-115 diabetic nephropathy phase 2b, APX-115 CI-AKI global phase 2 ongoing
Designation as managed issue deferred: revenue below KRW 3B and recurring losses (technology growth company exemption)