Orum Therapeutics Widens Operating Loss in Q1 but Secures 145B Won in Funding
Consolidated operating loss of 18.1B won (vs 9.6B loss in prior year same period), net loss of 15.3B won (vs 8.6B loss) – losses widened
Q1 revenue was 0 won (vs 3M won), R&D expenses surged to 13.8B won (vs 5.6B won)
Issuance of convertible preferred shares in Jan 2026 brought net inflow of 144.9B won; cash and cash equivalents rose to 113.1B won (from 4.1B at end of 2025)
Convertible preferred shares (Series 1 & 2) recognized as financial liabilities of 153.9B won, causing debt ratio to jump to 162% (from 29% at end of 2025)
Ongoing BMS deal for ORM-6151 (up to $180M, $100M received) and Vertex TPD² platform license (up to 3 targets, up to $310M milestone per target)
No capital erosion; total equity slightly decreased to 119.6B won (from 130.9B)
Basic loss per share: 677 won (consolidated), 703 won (separate)