Sanigen's Q1 2026 Net Loss Narrows to 898M Won, Equity Drops and Debt Ratio Rises


  • Q1 2026 revenue: 3.31B won (down 21.3% YoY from 4.21B won)
  • Operating loss: 0.87B won (improved from 1.19B loss in Q1 2025)
  • Net loss: 0.90B won (improved from 1.62B loss in Q1 2025)
  • Total equity: 1.59B won (down 35.9% from 2.48B at year-end 2025)
  • Net debt ratio: 60.2% (up from 30.3% at year-end 2025)
  • Full allowance of 1.40B won for fraud-related receivables
  • R&D expenses: 0.38B won (11.6% of revenue)
  • Post-report: decided capital increase (~6.57M shares) and 5B won CB issuance
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KOSDAQ Filing Information


  • Filing: Quarterly Report (2026.03)
  • Company: SANIGEN (188260)
  • Submission: SANIGEN Co., Ltd.
  • Receipt: 05-14-2026