--- title: "OSR Holdings (now OSR Health) delays quarterly report" url: "https://aibio.space/news/osr-holdings-now-osr-health-delays-quarterly-report-expects-11-4/" publisher: "aibio.space (Biotech Investor Relations News)" date: "2025-05-15" section: "Distress" tickers: "OTC:OSRH" source: "https://www.sec.gov/Archives/edgar/data/1840425/000121390025044399/ea0242429-nt10q_osr.htm" summary: "The company blamed a delay in finalizing its statements with its auditors after its February 14, 2025 business combination." --- By the aibio.space news desk. Sources - [OSR Health, Inc. NT 10-Q (2025-05-15)](https://www.sec.gov/Archives/edgar/data/1840425/000121390025044399/ea0242429-nt10q_osr.htm) - [OSR Health, Inc. 10-K (2025-04-22): business](https://www.sec.gov/Archives/edgar/data/1840425/000121390025034116/ea0237686-10k_osrhold.htm) [OSRH](https://aibio.space/companies/osr-health/) 2025-05-15 # OSR Holdings (now OSR Health) delays quarterly report, expects $11.4 million loss Tickers [OSRH](https://aibio.space/companies/osr-health/) The company blamed a delay in finalizing its statements with its auditors after its February 14, 2025 business combination. ## Key facts - **Company**: OSR Health, Inc. (OTC: OSRH) - **News type**: Distress - **Primary source**: [OSR Health, Inc. NT 10-Q (2025-05-15)](https://www.sec.gov/Archives/edgar/data/1840425/000121390025044399/ea0242429-nt10q_osr.htm) *Rows of law reports on a shelf. CC0, via rawpixel. The picture shows the field, not the companies named.* ## The late filing OSR Holdings, Inc. (now OSR Health, Inc.; ticker OSRH) said on May 15, 2025 that it would not file its quarterly report for the period ended March 31, 2025 on time. In a Form 12b-25 notification signed by its chief executive, Kuk Hyoun Hwang, the company cited a delay in completing the necessary disclosures and in finalizing its financial statements with its independent registered public accounting firm. It expects to file the 10-Q on or before the fifth calendar day after the due date. The notice says the figures it gives are still under review by the auditors and accounting staff, and that they may differ once the 10-Q is filed. The company checked "yes" when asked whether all other periodic reports for the past 12 months had been filed, and it listed its principal office at 10900 NE 4th Street in Bellevue, Washington. ## A larger loss and a restatement The company expects a consolidated net loss of about $11.4 million (KRW 16.5 billion) for the quarter. It compares that with a restated net loss of about $3.1 million (KRW 4.5 billion) for the same quarter of 2024. The increase is primarily due to a rise in other expenses, including one-time charges tied to the business combination. That combination closed on February 14, 2025, when OSR Holdings, formerly a special purpose acquisition company, acquired OSR Co., Ltd. For accounting purposes, OSR Co., Ltd. is the accounting acquirer under ASC 805-10, so the current statements reflect its consolidated operations. The 2024 quarter will be restated on the same basis. The company says the figures differ from those the SPAC filed before the deal and "should not be directly compared to those prior filings." The notice gives no cash balance, revenue or balance-sheet figure. The loss therefore cannot yet be set against the resources the company holds. It also does not say whether the delay affects any other filing. ## What the company holds The 2024 annual report describes OSR as a global healthcare holding company with operations in South Korea and Switzerland and an office in the United States. It says the company intends to identify, lead and support subsidiaries based on innovative research, and that it hopes to realize more liquidity through the sale of those subsidiaries from time to time. It calls its model hub-and-spoke, with a central executive team working alongside each subsidiary's management. The report describes three subsidiaries. One develops T-cell immunotherapies based on a live attenuated bacterial vaccine strain. A second runs a platform for recombinant biologics, and a third makes neurovascular surgical devices. The report says the subsidiaries' patent portfolio includes 10 patent families of issued patents and pending applications, with anticipated expiration between 2032 and 2041. Its table lists seven issued families: six owned by Vaximm, expiring from 2032 to 2038, and one exclusively licensed family covering designer ligands of the TGF-beta superfamily, expiring in 2030. The portfolio overview describes the platforms in general terms, and the patent table is the only product-level detail it gives. ## Why the delay matters The notice combines three things: a late filing, a loss that is up sharply from a restated base, and no balance sheet. The one-time charges behind the increase are described only in general terms, and the notice does not say how large they are. The company's stated route to liquidity runs through selling subsidiaries, and the notice does not say whether any sale is under way. [Report an error](https://aibio.space/reputation/#correction) ## Companies in this story OSRH OSR Health, Inc. OTC ยท United States Open the starter desk ## More in Distress Distress ### [Mineralys takes ownership of lorundrostat patents but keeps Tanabe milestone debts](https://aibio.space/news/mineralys-takes-ownership-lorundrostat-patents-but-keeps-tanabe/) Oct 29, 2026 Distress ### [Bristol Myers Squibb drops Prothena's PRX019, ending up to $617.5 million in milestones](https://aibio.space/news/bristol-myers-squibb-drops-prothenas-prx019-ending-up-617-5-million/) Oct 29, 2026 Distress ### [LENZ Therapeutics reorganizes to cut 2027 operating expenses by more than 50%](https://aibio.space/news/lenz-therapeutics-reorganizes-cut-2027-operating-expenses-more-50/) Oct 28, 2026 --- Source page: https://aibio.space/news/osr-holdings-now-osr-health-delays-quarterly-report-expects-11-4/. Facts in aibio.space stories are checked against company filings and releases; opinion is labelled. Cite as: aibio.space, "OSR Holdings (now OSR Health) delays quarterly report", 2025-05-15, https://aibio.space/news/osr-holdings-now-osr-health-delays-quarterly-report-expects-11-4/