Oscotec, an innovative drug development company, posted higher first-quarter revenue on the back of expanded global sales of Leclaza (lazertinib), which it licensed to Yuhan Corporation. Oscotec said Wednesday it recorded first-quarter consolidated revenue of 3.7 billion won and an operating loss of 10 billion won.
Revenue rose 88.4 percent from 1.9 billion won a year earlier. The increase reflects royalty income from the expanded global sales of lazertinib, according to the company. Lazertinib is a treatment for EGFR mutation-positive non-small cell lung cancer that Oscotec out-licensed to Yuhan Corporation at the preclinical stage in 2015.
The operating loss reflects continued investment in clinical trials and research and development for its core pipeline. First-quarter R&D spending rose slightly to 6.4 billion won from 5.5 billion won a year earlier. Oscotec is developing a platform for "anti-resistance cancer drugs," which fundamentally block resistance that develops during cancer treatment, as a mid- to long-term R&D axis. The company is currently conducting a Phase 1 trial of its anti-resistance cancer drug OCT-598.
"First-quarter revenue increased from a year earlier as royalty income related to lazertinib was reflected," an Oscotec official said. "Based on the financial foundation including revenue and milestones from lazertinib, Oscotec will focus on strengthening the competitiveness of its follow-up pipeline, including its anti-resistance cancer drug platform."
Separately, Oscotec said the same day that it will receive $10.2 million (approximately 15.2 billion won) on a consolidated basis as part of the milestone payment tied to the European commercial launch of lazertinib. The payment comes a year and six months after the drug received marketing approval from the European Commission (EC) as a first-line treatment for non-small cell lung cancer in December 2024.
