Pharmicell Reports Q1 Revenue of 11 Billion KRW and Net Loss of 1.3 Billion KRW

Pharmicell announced on the 14th that it recorded sales of 11 billion KRW and a net loss of 1.3 billion KRW in the first quarter of this year.

Sales from the biochemical division, which produces raw materials for gene therapy drugs, amounted to 10.6 billion KRW, while the biomedical division, which produces stem cell therapies, recorded sales of 400 million KRW. By product category, sales in the advanced materials sector were 8.7 billion KRW, and raw pharmaceutical materials such as nucleosides and mPEG accounted for 1.9 billion KRW.

A Pharmicell representative explained, "Sales of raw pharmaceutical materials were deferred to April, which affected the first quarter's performance," adding, "In April, the biochemical division recorded sales exceeding 7 billion KRW due to the recognition of raw pharmaceutical material sales and an increase in sales of low-dielectric materials." The representative continued, "In the second quarter of this year, sales of low-dielectric materials, which were mainly used in network boards, are expanding to artificial intelligence (AI) servers, leading to increased shipments," and added, "We expect sales growth and improved profitability through the discovery of new clients for raw pharmaceutical materials."

They further stated, "Pharmicell is expanding its contract development and manufacturing organization (CDMO) business with the completion of the GMP Plant 2 for advanced biopharmaceutical production this year," and said, "We anticipate growth in the cell therapy-related business due to the revision of the Advanced Regenerative Bio Act."