Telcon RF Pharmaceutical: Q1 2026 Consolidated Net Loss of KRW 11.5B, 10:1 Reverse Stock Split and KRW 3B Rights Issue for Financial Restructuring

Q1 2026 consolidated revenue: KRW 9.7B (down 2.8% YoY from KRW 10.0B), operating loss: KRW 1.4B (improved from KRW 1.5B loss YoY)
Consolidated net loss: KRW 11.5B (improved from KRW 14.6B loss YoY), but includes KRW 12.6B valuation loss on financial assets
Debt ratio surged to 26.68% from 10.05% at year-end; cash equivalents dropped to KRW 8.0B from KRW 26.1B
Post-report, on April 7, 2026, board resolved a 10:1 reverse stock split and a KRW 3B third-party rights issue for capital restructuring
Credit rating: B/B+ (speculative); accumulated deficit KRW 203.4B
Major shareholder: Newon Co., Ltd. (15.67%); provided KRW 13.8B debt guarantee to related party KPM Tech
SCD API exclusive supply contract remains (KRW 40.8B outstanding)