Business model with licensing, milestones and royalties as primary revenue sources
First written in FY2024-Q3. 4 of 5 entries say "Restated". Latest entry: 2026-10-15.
The whole theme swung hardest in 2021: 1 of 11 companies on the "Worse" side.
6 other companies' latest entry also says "Restated".
- 2026-10-15RestatedEarnings
「以上の結果、当事業年度の事業収益は該当ありませんでした（前事業年度は該当なし）。」
事業収益がない状態が継続していることが確認された。 - FY2026-H1RestatedAnnual report
「The Company's principal sources of revenue are: ① upfront payments received for licensing drug candidates developed by the Company to pharmaceutical companies; ② milestone payments made based on development progress under license agreements; and ③ royalty income consisting of a percentage of sales paid after the relevant drugs are marketed, among other sources. No revenue was recognized during the interim accounting period.」
The structure centered on upfront payments, development milestones and royalties after launch as the principal sources of revenue was reaffirmed, and no revenue was recognized during the interim accounting period either. - FY2025-H1RestatedAnnual report
「The Company's principal sources of revenue are: ① upfront payments received for licensing drug candidates developed by the Company to pharmaceutical companies; ② milestone payments made based on development progress under license agreements; and ③ royalty income consisting of a percentage of sales paid after the relevant drugs are marketed, among other sources. No revenue was recognized during the interim accounting period.」
The structure centered on upfront payments, development milestones and royalties as the principal sources of revenue was reaffirmed, and no revenue was recognized during the interim accounting period. - FY2024RestatedAnnual report
「For the time being, the Company expects its revenue to come from partner companies under license agreements. Revenue under license agreements comprises upfront payments, development milestone payments, sales milestone payments and royalty income.」
The revenue structure centered on upfront license payments, development and sales milestones, and royalties continues to be described. - FY2024-Q3First statedAnnual report
「The Company's principal sources of revenue are: ① upfront payments received for licensing drug candidates developed by the Company to pharmaceutical companies; ② milestone payments made based on development progress under license agreements; and ③ royalty income consisting of a percentage of sales paid after the relevant drugs are marketed, among other sources.」
Revenue sources are described as upfront payments arising from the licensing of drug candidates, development milestones and royalties after launch.