[Announcement+] FutureChem Reports 1Q Operating Loss of 1.9 Billion KRW Due to Increased R&D Expenses

[Asia Economy Reporter Kum Bo-ryeong] FutureChem announced on the 14th that its consolidated sales for the first quarter of this year increased by 10.8% year-on-year to 1.57 billion KRW. Operating loss slightly widened to 1.86 billion KRW compared to the previous year.

The sales growth was driven by a 40.4% increase in sales of its main products, the Parkinson's disease diagnostic radiopharmaceutical 'PDView' and the Alzheimer's diagnostic 'AlzView,' compared to the same period last year. Sales of the cancer diagnostic radiopharmaceutical (FDG) from its affiliate FutureChem Healthcare also rose by 13.5%.

Regarding the increased operating loss, FutureChem explained, "Research and development expenses increased as clinical trials for the prostate cancer diagnostic new drug FC303 and the prostate cancer treatment drug FC705 were expanded for overseas market entry."

FutureChem has completed the domestic Phase 1 clinical trial of FC303 and is preparing the results report to submit to the Ministry of Food and Drug Safety. FC705 has applied for a Phase 1 IND (Investigational New Drug) with the Ministry and plans to start clinical trials within this year.

A FutureChem official stated, "Despite the market downturn caused by the spread of COVID-19, we achieved sales growth based on product competitiveness. The expansion of clinical trials is a stepping stone for mid- to long-term growth, and the core pipeline covering prostate cancer diagnosis and treatment will lead the global market."

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