Completion of Receipt of Settlement Proceeds for Recovery of U.S. Clinical Trial Costs
BrightPath Biotherapeutics Co.,Ltd.
The GRN-1201 clinical trial conducted in the United States and 5 clinical trial sites
The funds for payments to the clinical trial sites, which had been transferred to the designated account of Rosenstein Research, Ltd., the business partner at the time, were not paid to the clinical trial sites.
Settlement amount of US$220 thousand (approximately ¥34 million at the time). The amount is scheduled to be recorded as non-operating income: US$100 thousand and ¥15,108 thousand in the fiscal year ending March 2025, and US$120 thousand and ¥18,023 thousand in the fiscal year ending March 2026 (the amount attributable to the fourth quarter of the fiscal year ending March 2026 is an estimate).
The interim period, third quarter and fourth quarter of the fiscal year ending March 2025, and the first, second, third and fourth quarters of the fiscal year ending March 2026 (the fourth quarter is an estimate)
This matter will have no impact on results for the fiscal year ending March 2026.
US$203 thousand (approximately ¥32 million at the time), relating to 5 clinical trial sites. The counterparty was Rosenstein Research, Ltd.
Related procedures
Litigation and settlement
Court (name not disclosed)
BrightPath Biotherapeutics Co.,Ltd.
Rosenstein Research, Ltd.
This matter will have no impact on results for the fiscal year ending March 2026.
| Item | Details |
|---|---|
| Event name | Completion of Receipt of Settlement Proceeds for Recovery of U.S. Clinical Trial Costs |
| Date of occurrence | 30 March 2026 (date on which receipt of the full settlement amount was completed) |
| Subject Entity | BrightPath Biotherapeutics Co.,Ltd. |
| Target Locations / Products | The GRN-1201 clinical trial conducted in the United States and 5 clinical trial sites |
| Cause | The funds for payments to the clinical trial sites, which had been transferred to the designated account of Rosenstein Research, Ltd., the business partner at the time, were not paid to the clinical trial sites. |
| Amount of Impact on Business Performance | Settlement amount of US$220 thousand (approximately ¥34 million at the time). The amount is scheduled to be recorded as non-operating income: US$100 thousand and ¥15,108 thousand in the fiscal year ending March 2025, and US$120 thousand and ¥18,023 thousand in the fiscal year ending March 2026 (the amount attributable to the fourth quarter of the fiscal year ending March 2026 is an estimate). |
| Accounting period in which recognized | The interim period, third quarter and fourth quarter of the fiscal year ending March 2025, and the first, second, third and fourth quarters of the fiscal year ending March 2026 (the fourth quarter is an estimate) |
| Impact on Earnings Forecast | This matter will have no impact on results for the fiscal year ending March 2026. |
| Type of litigation or proceeding | Litigation and settlement |
| Court or authority | Court (name not disclosed) |
| Plaintiff | BrightPath Biotherapeutics Co.,Ltd. |
| Defendant | Rosenstein Research, Ltd. |
| Date of filing / date of action | 27 February 2024 (date the complaint was filed) |
| Amount of receivables at risk of non-collection or delayed collection | US$203 thousand (approximately ¥32 million at the time), relating to 5 clinical trial sites. The counterparty was Rosenstein Research, Ltd. |
| Outlook | This matter will have no impact on results for the fiscal year ending March 2026. |
Items this document does not state (10)
These are items the company does not state in this document. We do not leave them blank, nor fill them in from other sources or by inference.
The reasons the company gives
The company's own explanation, not something inferred from the numbers.The Company reached a settlement regarding costs that Rosenstein Research, Ltd., its business partner at the time, had not paid to the clinical trial sites, and completed collection of the full settlement amount, which had been received in installments.