CHA Biotech reported on the 14th that its consolidated revenue for the first quarter of this year was 304.1 billion won, a 31% increase compared to the same period last year. During the same period, the operating loss was 12.5 billion won, maintaining the level of the previous year (12.6 billion won).
Revenue on a separate basis for the first quarter was 14.8 billion won, reflecting a 19% increase, while the operating loss was 4 million won.
The company explained that revenue increased due to continuous growth in overseas markets such as the United States and Australia, as well as the consolidation of Singapore Medical Group (SMG). Additionally, it evaluated that the even growth of genomic analysis, immune cell and stem cell preservation, and healthcare IT businesses contributed to the growth.
Regarding the operating loss, the company pointed to the impact of increased research and development (R&D) expenses for CHA Biotech, CMG Pharmaceutical, and CHA Vaccine. However, it analyzed that the increase in revenue and the reduction in losses from its U.S. subsidiary Matika Biotechnology helped maintain the level of the previous year.
CHA Biotech stated that it plans to strengthen its R&D by promoting overall management structure improvements centered around the new management team and completing a capital increase in June. Under the leadership of Nam Su-yeon, the head of R&D, it aims to secure new drug candidates and accelerate the establishment of a global standard for its cell therapy pipeline.