Financial risks from rising research and development expenses and prolonged investment recovery
First written in FY2016. 19 of 38 entries say "Worsened", first in FY2017-Q1. Latest entry: FY2026.
Kidswell Bio moved to the "Worse" side of this theme in 2016, 5 years before the typical company in this theme (2021).
The whole theme swung hardest in 2019: 4 of 13 companies on the "Worse" side.
6 other companies' latest entry also says "Worsened".
- FY2026WorsenedAnnual report
「R&D expenses totaled ¥1,119.977 million, up 45.9% year on year, following continued investment in measures to reduce manufacturing costs in the biosimilar business, the development of new biosimilars, and preclinical studies and investment in large-scale manufacturing process development aimed at conducting clinical trials in Japan and overseas for a cell therapy product targeting cerebral palsy in the cell therapy business.」
R&D expenses rose 45.9% year on year to ¥1,119.977 million, increasing the investment burden related to manufacturing cost reductions, new biosimilars, preparations for clinical development in Japan and overseas for cerebral palsy, and large-scale manufacturing process development. - FY2026-H1WorsenedAnnual report
「R&D activities amounted to ¥388.361 million in the current interim consolidated fiscal period, and R&D progress across the pipelines has been broadly in line with plan.」
R&D expenses increased from ¥340.907 million in the same interim period of the previous year to ¥388.361 million, again increasing the financial burden from R&D investment. Meanwhile, the company stated that progress across the pipelines was broadly in line with plan. - FY2025Optimization of R&D expenses and reduced burdenAnnual report
「Meanwhile, R&D expenses decreased significantly year on year as a result of reviewing the priority of development products based on R&D progress and commercial viability, optimizing R&D expenses, and deferring the recognition of some expenses until fiscal 2025 or later.」
The R&D expense burden for the current fiscal year decreased as a result of reviewing development priorities and shifts in the timing of expense recognition. The company plans to continue R&D investment itself. - FY2025-H1WorsenedAnnual report
「In addition, increased R&D investment accompanying steady R&D activities in the cell therapy business resulted in an operating loss, an ordinary loss and an interim net loss attributable to owners of the parent.」
R&D investment in the cell therapy business continued, and the company recognized R&D expenses of ¥340.907 million in the current interim consolidated fiscal period, resulting in continued losses on a consolidated basis. - FY2024-Q3WorsenedAnnual report
「R&D activities amounted to ¥807.465 million in the cumulative third quarter of the current fiscal year, and R&D progress across the pipelines has been broadly in line with plan.」
R&D expenses increased 39.4% from ¥579.055 million in the same period of the previous year to ¥807.465 million, increasing the financial burden from R&D investment. Meanwhile, the company stated that progress across the pipelines was broadly in line with plan. - FY2024-Q2WorsenedAnnual report
「R&D activities amounted to ¥546.693 million in the cumulative second quarter of the current fiscal year, and R&D progress across the pipelines has been broadly in line with plan.」
R&D expenses increased from ¥251.787 million in the same period of the previous year to ¥546.693 million, increasing the financial burden from R&D investment. Meanwhile, the company stated that progress across the pipelines was broadly in line with plan. - FY2024-Q1WorsenedAnnual report
「R&D activities amounted to ¥312.535 million in the cumulative first quarter of the current fiscal year, and R&D progress across the pipelines has been broadly in line with plan.」
R&D expenses increased from ¥105.490 million in the same quarter of the previous year to ¥312.535 million, increasing the financial burden from SHED's R&D, preparations to begin clinical research, and costs associated with establishing the Tokyo Research Institute, among other items. - FY2023WorsenedAnnual report
「The company plans to recognize ¥1,600.000 million in R&D expenses over the coming year. These R&D expenses mainly comprise temporary expenditures for development aimed at realizing SHED's growth strategy and measures to reduce the cost of goods sold for the ranibizumab biosimilar.」
The planned R&D expenses for the following year are ¥1.6 billion, including expenditures related to SHED's growth strategy and efforts to reduce the cost of ranibizumab, indicating an increased burden from R&D investment. - FY2023-Q3Cumulative third-quarter R&D expenses and progress against planAnnual report
「R&D activities amounted to ¥579.055 million in the cumulative third quarter of the current fiscal year, and R&D progress across the pipelines has been broadly in line with plan.」
The company recognized R&D expenses of ¥579.055 million for the cumulative third quarter and stated that progress across the pipelines was broadly in line with plan. - FY2023-Q2Cumulative second-quarter R&D expenses and progress against planAnnual report
「R&D activities amounted to ¥251.787 million in the cumulative second quarter of the current fiscal year, and R&D progress across the pipelines has been broadly in line with plan.」
The company recognized R&D expenses of ¥251.787 million for the cumulative second quarter and stated that progress across the pipelines was broadly in line with plan. - FY2023-Q1Recognition of R&D expenses after transitioning to non-consolidated accountingAnnual report
「R&D activities amounted to ¥105.490 million in the cumulative first quarter of the current fiscal year, and R&D progress across the pipelines has been broadly in line with plan.」
The company recognized R&D expenses of ¥105.490 million for the quarter and stated that progress across the pipelines was broadly in line with plan. - FY2022WorsenedAnnual report
「Total R&D expenses for the current consolidated fiscal year amounted to ¥1,150.209 million.」
Full-year R&D expenses increased from ¥963.868 million in the previous fiscal year to ¥1,150.209 million, increasing the financial burden from R&D investment. - FY2022-Q3WorsenedAnnual report
「R&D activities amounted to ¥770.421 million in the cumulative third quarter of the current consolidated fiscal year, and R&D progress across the pipelines has been broadly in line with plan.」
R&D expenses for the cumulative third quarter increased from ¥600.660 million in the same period of the previous year to ¥770.421 million, increasing the financial burden from R&D investment. Meanwhile, the company stated that progress across the pipelines was broadly in line with plan. - FY2022-Q2WorsenedAnnual report
「R&D activities amounted to ¥532.689 million in the cumulative second quarter of the current consolidated fiscal year, and R&D progress across the pipelines has been broadly in line with plan.」
R&D expenses for the cumulative second quarter increased from ¥403.208 million in the same period of the previous year to ¥532.689 million, increasing the financial burden from R&D investment. Meanwhile, the company stated that progress across the pipelines was broadly in line with plan. - FY2022-Q1WorsenedAnnual report
「The amount of R&D activity during the first quarter of the current consolidated cumulative period was ¥297 million, and R&D across the respective pipelines is progressing generally as planned.」
R&D expenses increased from ¥138 million in the same quarter of the previous year to ¥297 million, increasing the financial burden from R&D investment. Meanwhile, the Company explained that the respective pipelines are progressing generally as planned. - FY2021WorsenedAnnual report
「Total R&D expenses for the current consolidated fiscal year were ¥964 million.」
Full-year R&D expenses increased from ¥898 million in the previous consolidated fiscal year to ¥964 million, increasing the financial burden from R&D investment. - FY2021-Q3Cumulative R&D expenses decreasedAnnual report
「The amount of R&D activity during the third quarter of the current consolidated cumulative period was ¥601 million.」
R&D expenses decreased from ¥685 million in the same quarter of the previous year to ¥601 million. The financial burden from R&D investment continues. - FY2021-Q2Cumulative R&D expenses decreasedAnnual report
「The amount of R&D activity during the second quarter of the current consolidated cumulative period was ¥403 million.」
R&D expenses decreased from ¥484 million in the same quarter of the previous year to ¥403 million. The financial burden risk from R&D investment continues. - FY2021-Q1Quarterly R&D expenses decreasedAnnual report
「The amount of R&D activity during the first quarter of the current consolidated cumulative period was ¥138 million.」
R&D expenses decreased from ¥235 million in the same quarter of the previous year to ¥138 million. The financial burden from R&D investment continues. - FY2020Full-year R&D expenses reportedAnnual report
「Total R&D expenses for the current consolidated fiscal year were ¥898 million.」
The Company reported full-year R&D expenses of ¥898 million in its first year of consolidated reporting, and the financial burden from R&D investment continues. - FY2020-Q3Cumulative R&D expenses reported for the third quarterAnnual report
「The amount of R&D activity during the third quarter of the current consolidated cumulative period was ¥685 million.」
The Company reported cumulative R&D expenses of ¥685 million for the third quarter of its first year of consolidated reporting. The financial burden risk from R&D investment continues. - FY2020-Q2Cumulative R&D expenses reported for the second quarterAnnual report
「The amount of R&D activity during the second quarter of the current consolidated cumulative period was ¥484 million.」
The Company reported cumulative R&D expenses of ¥484 million for the second quarter of its first year of consolidated reporting. The financial burden risk from R&D investment continues. - FY2020-Q1R&D expenses reported in the first year of consolidated reportingAnnual report
「The amount of R&D activity during the first quarter of the current consolidated cumulative period was ¥235 million.」
The Company reported R&D expenses of ¥235 million in the first quarter of its first year of consolidated reporting. No comparative analysis was performed against the same period of the previous year or the end of the previous consolidated fiscal year. - FY2019Decrease in R&D expensesAnnual report
「Total R&D expenses for the fiscal year were ¥945 million.」
R&D expenses decreased from ¥1,107 million in the previous year to ¥945 million. However, the financial burden risk from R&D investment continues. - FY2019-Q3R&D expenses decreased year on yearAnnual report
「The amount of R&D activity during the third quarter of the current cumulative period was ¥525 million.」
Cumulative R&D expenses for the third quarter decreased from ¥657 million in the same period of the previous year to ¥525 million. However, payments for development costs related to biosimilars were the primary cause of the decrease in cash and deposits, and the financial burden from R&D investment continues. - FY2019-Q2Cumulative R&D expenses decreasedAnnual report
「The amount of R&D activity during the second quarter of the current cumulative period was ¥285 million.」
R&D expenses decreased from ¥500 million in the same period of the previous year to ¥285 million. However, payments for development costs related to biosimilars were identified as the primary cause of the decrease in cash and deposits, and the financial burden from R&D investment continues. - FY2019-Q1WorsenedAnnual report
「The amount of R&D activity during the first quarter of the current cumulative period was ¥141 million.」
R&D expenses increased from ¥105 million in the same period of the previous year to ¥141 million. Payments for development costs related to biosimilars were the primary cause of the decrease in cash and deposits, indicating that the financial burden from R&D investment has increased again. - FY2018Decrease in R&D expensesAnnual report
「R&D expenses accounted for 71.4% of selling, general and administrative expenses in the fiscal year ended March 2018, representing a substantial R&D expense burden relative to the Company's size.」
R&D expenses were ¥1,107 million and accounted for 71.4% of selling, general and administrative expenses, down from ¥1,433 million and 76.4% in the previous fiscal year. However, the risk of increased R&D investment remains. - FY2018-Q3Cumulative R&D expenses decreasedAnnual report
「The amount of R&D activity during the third quarter of the current cumulative period was ¥657 million.」
Cumulative R&D expenses for the third quarter decreased from ¥1,098 million in the same period of the previous year to ¥657 million. However, the Company continues to state that commencing work on new products under development could result in a substantial increase in R&D expenses. - FY2018-Q2Quarterly R&D expenses decreasedAnnual report
「The amount of R&D activity during the second quarter of the current cumulative period was ¥500 million.」
R&D expenses decreased from ¥863 million in the same period of the previous year to ¥500 million. However, the Company continues to state that commencing work on new products under development could result in a substantial increase in R&D expenses. - FY2018-Q1Quarterly R&D expenses decreasedAnnual report
「The amount of R&D activity during the first quarter of the current cumulative period was ¥105 million.」
R&D expenses decreased from ¥448 million in the same period of the previous year to ¥105 million. However, the Company continues to state that R&D expenses could increase substantially as the pipeline expands, so it has not stated that the future financial burden risk has been eliminated. - FY2017WorsenedAnnual report
「R&D expenses accounted for 76.4% of selling, general and administrative expenses in the fiscal year ended March 2017, representing a substantial R&D expense burden relative to the Company's size.」
R&D expenses accounted for 76.4% and increased to ¥1,433 million. The financial burden of R&D investment has increased. - FY2017-Q3WorsenedAnnual report
「The amount of R&D activity during the third quarter of the current cumulative period was ¥1,098 million. The Company also plans to actively expand its pipeline, but commencing work on new products under development could result in a substantial increase in R&D expenses.」
R&D expenses increased from ¥863 million in the second-quarter cumulative period to ¥1,098 million, and the Company also explicitly notes the possibility of further increases associated with pipeline expansion. - FY2017-Q2WorsenedAnnual report
「The amount of R&D activity during the second quarter of the current cumulative period was ¥863 million. The Company also plans to actively expand its pipeline, but commencing work on new products under development could result in a substantial increase in R&D expenses.」
R&D expenses increased from ¥399 million in the same period of the previous year to ¥863 million, and the Company also explicitly notes the possibility of further increases associated with pipeline expansion. - FY2017-Q1WorsenedAnnual report
「The amount of R&D activity during the first quarter of the current cumulative period was ¥448 million.」
R&D expenses increased from ¥167 million in the same period of the previous year to ¥448 million, indicating that the risk of R&D expenses affecting the Company's finances is becoming more pronounced. - FY2016First statedAnnual report
「R&D expenses accounted for 72.6% of selling, general and administrative expenses in the fiscal year ended March 2016, representing a substantial R&D expense burden relative to the Company's size.」
The Company reported that R&D expenses currently account for 72.6%, indicating that unexpected increases in R&D expenses associated with advancing or acquiring products under development could affect its financial position, results of operations and cash flow.