Hanall Biopharma한올바이오파마

Hanall Biopharma's TTM results swung to a large net loss in H1 2026, while its batoclimab partner won Chinese approval and the shares have fallen sharply over the past month.

Hanall Biopharma is a small Korean drugmaker whose trailing twelve-month revenue is about ₩162.7B, but net income is negative at roughly -₩24.9B after a loss-making 2025. The stock closed at ₩38,550 on 26 October 2026, down 17.3% over one month and 18.8% over three months, though still up 17.7% over one year. The data does not include a fair value estimate or analyst price targets.

What stands out

• Trailing twelve-month operating income is about ₩4.8B (2.9% margin), but net loss is about -₩24.9B (-15.3% margin), and ROE is -15.1%.
• Free cash flow is about -₩10.5B and borrowings (₩44.1B) exceed cash (₩30.2B) over the trailing period.
• 2025 was a loss year, with operating loss of -₩0.9B and net loss of -₩5.6B on revenue of ₩155.2B, up 11.7%.
• On 23 October 2026, several outlets reported that batoclimab, a drug developed and licensed by Hanall, was approved in China for myasthenia gravis, via its Chinese partner.
• Price-to-book is 12.5x against negative earnings, and the dividend yield is 0%.
• Over 20 trading days, foreign investors were net buyers (about ₩12.6B) while institutions were net sellers (about -₩20.3B); foreign ownership rose from 3.0% to 4.9% in 60 days.

What to watch

• Next filings after the half-year report (filed 14 August 2026), including any update on the major management matter disclosed in July 2026, which the data does not describe in detail.
• Whether the China approval for batoclimab leads to milestone payments or sales for Hanall, which the data does not quantify.
• Continued losses and negative free cash flow, with borrowings above cash, as a financing risk the data highlights.