Company: OSRH
Filing Date: 2025-01-24
Form Type: S-4/A
Source: 0001213900-25-006139
Chunk: 462

Company: OSR Holdings, Inc.
Filing Date: 2025-01-24
Form: S-4/A
Chunk 462
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 million per quarter from mid -2024through the end of 2025. Research and Development (R&D) Expenses R&D expenses consist primarily of costs incurred for research activities, including the development of product candidates, pre -clinicaland clinical trials and related costs of salaries and contractors. R&D costs are expensed as incurred. OSR Holdings did not have any research and development expenses for the years ended December 31, 2022 and 2021. In 2023, OSR Holdings R&D expenses were KRW 324 million, which came from the fully consolidated subsidiaries. New OSR Holdings expects to incur and report R&D related expenses mainly from its subsidiaries and affiliates actively engaged in R&D at an estimated amount of $2.5 million to $3.0 million per quarter from mid -2024through the end of 2025. Non-Operating Income (Loss) Finance income decreased from KRW 2.3 billion in 2022 to KRW 25 million in 2023. In 2022, the Company had a one -timegain from the disposal of financial assets of KRW 2.3 billion. Other finance income, consisting of interest income, increased by 912% in 2023 from 2022, from KRW 2.5 million to KRW 25 million, as a result of higher balances on interest bearing funds. Finance costs, consisting of interest expense, increased by 2,626%, from KRW 18 million to KRW 490 million, as a result of outstanding indebtedness of KRW 960 million during 2023. Profit (loss) before income tax Profit (loss) before income tax decreased 1,270% from a profit of KRW 1.3B in 2022 to a loss of KRW 15.7B in 2023, primarily (89%) due to the increase in administrative expenses, offset in part ( -7%) by the gross profit from the Company’s RMC subsidiary. Liquidity and Capital Resources From inception through June 30, 2024, OSR Holdings has incurred significant operating losses and negative cash flows from its operations. OSR Holdings’ operating losses were KRW 784.7 million and KRW 14.7 billion for the years ended December 31, 2022 and December 31, 2023, respectively, and KRW 4.8 billion and KRW 8.8 billion for the six months ended June 30