HLB Q1 2026 Results and Drug Development Progress: Rivoceranib FDA Resubmission, Lirafugratinib NDA Priority Review

Q1 2026 consolidated revenue: 18.7B KRW, operating loss: 23.2B KRW, net loss: 40.9B KRW (attributable to parent: 38.0B KRW)
R&D expenses: 10.6B KRW (56.9% of revenue)
Rivoceranib + camrelizumab for first-line HCC: FDA resubmission on Jan 23, 2026; decision expected within 2-6 months based on Class 1/2 classification
Lirafugratinib (cholangiocarcinoma): NDA submitted to FDA on Jan 28, 2026, granted priority review (Breakthrough Therapy designation)
Debt ratio: 87.4% (vs. 88.1% at year-end 2025), credit rating: BB (Korea Rating & Data)
Subsidiary Elevar Therapeutics deepens capital impairment (equity -38.3B KRW), ITI capital impairment -26.0B KRW
Consolidated assets: 925.4B KRW, liabilities: 431.6B KRW, equity: 493.9B KRW
Cash and cash equivalents: 26.2B KRW (decreased from 41.0B KRW at year-end 2025)
R&D pipeline: Rivoceranib ongoing trials in multiple indications; Lirafugratinib plan for expanded trial in FGFR2-altered solid tumors
Absorption merger of HLB Science completed (Dec 2025); new media-commerce subsidiaries established

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