Alteogen (196170.KQ) Q1 2026: 120% SG&A Surge Erodes Operating Profit 36% Despite ₩867.5B Biogen Deal
A front-loaded cost ramp across clinical support headcount and share-based compensation compressed the operating margin to 54.9%, the lowest in recent history, even as Alteogen's cumulative out-licensing backlog crossed ₩9.3 trillion.
Source: Q1 2026 Quarterly Report — Filed with DART | Consolidated Financial Statements | Unit: ₩ billions
“Alteogen (196170.KQ) Q1 2026: 120% SG&A Surge Erodes Operating Profit 36% Despite ₩867.5B Biogen Deal”
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