Revenue: As of FY2025 Q1, the actual value is USD 0.EPS: As of FY2025 Q1, the actual value is USD -0.04.EBIT: As of FY2025 Q1, the actual value is USD -4.157 M.NKGen Biotech, Inc. operates as a single reportable segment, with its financial performance and resource allocation assessed on a consolidated basis, focusing on net loss and cash used in operations.<h4>Operational Metrics</h4><ul><li>Net Income (Loss): NKGen Biotech, Inc. reported a net income of $15,350 thousand for the three months ended March 31, 2025, a significant improvement from a net loss of - $5,382 thousand for the same period in 2024. </li><li>Research and Development Expenses: These expenses decreased by $1,379 thousand, or 43%, to $1,857 thousand in Q1 2025 from $3,236 thousand in Q1 2024, primarily due to lower personnel-related costs and R&amp;D supplies and services. </li><li>General and Administrative Expenses: These expenses decreased by $1,576 thousand, or 36%, to $2,809 thousand in Q1 2025 from $4,385 thousand in Q1 2024, mainly due to reductions in professional fees, stock option expenses, repairs and maintenance, and salaries and bonuses. </li><li>Total Cost and Expenses: Total costs and expenses decreased by $2,955 thousand, or 39%, to $4,666 thousand in Q1 2025 from $7,621 thousand in Q1 2024. </li><li>Loss from Operations: The loss from operations improved to - $4,666 thousand in Q1 2025 from - $7,621 thousand in Q1 2024. </li><li>Interest Expense: Interest expense decreased by $560 thousand, or 52%, to - $509 thousand in Q1 2025 from - $1,069 thousand in Q1 2024, attributed to repayments on interest-bearing debt obligations. </li><li>Loss on Issuance of Financial Instruments: This loss increased by $321 thousand, or 44%, to - $1,050 thousand in Q1 2025 from - $729 thousand in Q1 2024, primarily due to new issuances of convertible bridge loans and convertible promissory notes in 2025. </li><li>Gain on Amendments to Financial Instruments, Net: This figure was - $0 thousand in Q1 2025, a decrease of $283 thousand from $283 thousand in Q1 2024, as no amendments occurred in 2025. </li><li>Change in Fair Value of Financial Instruments: This amount increased by $17,802 thousand, or 472%, to $21,575 thousand in Q1 2025 from $3,773 thousand in Q1 2024, due to mark-to-market adjustments of various derivative liabilities and convertible instruments. </li></ul><h4>Balance Sheet Metrics</h4><ul><li>Cash and Cash Equivalents: Cash and cash equivalents decreased to $6 thousand as of March 31, 2025, from $106 thousand as of December 31, 2024. </li><li>Restricted Cash: Restricted cash decreased to $23 thousand as of March 31, 2025, from $129 thousand as of December 31, 2024. </li><li>Working Capital Deficit: The working capital deficit increased to approximately - $41.5 million as of March 31, 2025. </li><li>Total Assets: Total assets decreased to $15,842 thousand as of March 31, 2025, from $16,231 thousand as of December 31, 2024. </li><li>Total Liabilities: Total liabilities decreased to $66,174 thousand as of March 31, 2025, from $86,139 thousand as of December 31, 2024. </li><li>Convertible Promissory Notes: Convertible promissory notes decreased to $18,303 thousand as of March 31, 2025, from $32,410 thousand as of December 31, 2024. </li><li>Derivative Warrant Liabilities: Derivative warrant liabilities decreased to $10,995 thousand as of March 31, 2025, from $17,073 thousand as of December 31, 2024. </li><li>Accumulated Deficit: The accumulated deficit improved to - $191,066 thousand as of March 31, 2025, from - $206,416 thousand as of December 31, 2024. </li><li>Total Stockholders’ Deficit: Total stockholders’ deficit improved to - $50,332 thousand as of March 31, 2025, from - $69,908 thousand as of December 31, 2024. </li></ul><h4>Cash Flow Metrics</h4><ul><li>Net Cash Used in Operating Activities: Net cash used in operating activities decreased by $1,234 thousand to - $2,800 thousand in Q1 2025 from - $4,034 thousand in Q1 2024. </li><li>Net Cash (Used in) Provided by Investing Activities: This changed from $35 thousand provided in Q1 2024 to - $52 thousand used in Q1 2025, primarily due to purchases of capitalized software. </li><li>Net Cash Provided by Financing Activities: Net cash provided by financing activities decreased by $1,361 thousand to $2,646 thousand in Q1 2025 from $4,007 thousand in Q1 2024, mainly due to reduced proceeds from FPA agreements and convertible bridge loans, partially offset by increased proceeds from convertible promissory notes and capital contributions. </li><li>Cash Paid for Interest Expense: Cash paid for interest expense increased to $131 thousand in Q1 2025 from $120 thousand in Q1 2024. </li></ul><h4>Future Outlook and Strategy</h4>NKGen Biotech, Inc. anticipates continued significant operating losses and requires additional near-term financing to support research, development, clinical trials, and potential product commercialization. The company plans to raise capital through debt or equity financings from related parties, private equity, or other sources, while also working to regain compliance with SEC reporting obligations and pursue relisting on a national securities exchange. Its strategy includes advancing the clinical development of SNK01 for Alzheimer’s and Parkinson’s disease, completing the Phase I trial for SNK02 in solid tumors, and investing in manufacturing technology.

NKGen Biotech | 10-Q: FY2025 Q1 Revenue: USD 0