[콘퍼런스콜 리뷰] 리가켐, R&D 지속력 2년 이상…현금창출력 확대

Ligachem Biosciences demonstrates the viability of a technology licensing-driven model by securing 2+ years of R&D sustainability despite Q1 operating losses. The company's cash endurance critically depends on milestone realization from partner clinical trials rather than upfront contract values—exemplified by Systhone's exceptional LCB71 data (100% ORR, 95.5% CR), which validates the ADC platform's potential and strengthens future partnering leverage.