CHA Biotech Q1 Sales Rise 8% to 329.7 Billion Won... Operating Loss Continues

Operating Loss of 30.7 Billion Won Due to Digital Healthcare and R&D Investment

Net Loss Narrows by 24.4 Billion Won to 2.6 Billion Won

CHA Biotech announced on the 15th that its consolidated sales for the first quarter of this year reached 329.7 billion won. This represents an 8% increase compared to the same period last year.

Cha Biotech company logo image. Cha Biotech

Growth in overseas healthcare businesses in countries such as the United States, Australia, Singapore, and Japan, along with the consolidation of Kakao Healthcare and CHA AI Healthcare, contributed to the increase in sales. The performance of subsidiaries such as CMG Pharmaceutical and CHA Cares was also reflected.

The operating loss was 30.7 billion won, continuing to post a deficit. This was due to the expansion of the digital healthcare business and increased investment in research and development of advanced regenerative medicine. The net loss for the period was 2.6 billion won, narrowing the deficit by 24.4 billion won compared to the same period last year.

On a non-consolidated basis, sales were 16.2 billion won, up 9%. This was attributed to growth in the IT, bioinformatics (BI), and cord blood businesses. The operating loss was 1.4 billion won. However, the sale of shares in Solidus Investment led to a net profit of 20.8 billion won, turning into the black.

CHA Biotech is currently developing the idiopathic pulmonary fibrosis treatment 'CHAGE-201-IPF', the allogeneic CAR-NK cell therapy 'CHACAR-NK-201', and the ovarian insufficiency cell therapy 'CHAUM-101', among others.

This content was produced with the assistance of AI translation services.