Komori
Results4594BrightPath Biotherapeutics Co.,Ltd.Pharmaceuticals

Summary of Financial Results for the Second Quarter (Interim Period) of the Fiscal Year Ending March 2027 (Japanese GAAP) (Non-consolidated)

The operating loss for the interim period widened from ¥464,575 thousand in the same period of the previous year to ¥1,330,407 thousand, while net assets and the equity ratio also declined. Meanwhile, the FDA accepted the IND application for BP2202, allowing the company to proceed to the stage of starting a Phase 1 trial in the United States.

Worth reading
46Recurring
0–100. This measures how worthwhile something is to read, not how good or bad the company is.
Direction
Mixed performance
Direction inferred from the company’s description.
Scale
865832
¥ thousand
Wording
Avoiding a definitive answer
How definitive the wording is.

Results for this period

Interim period (second quarter)1 April 2026 to 30 September 2026Non-consolidated (individual)Japanese GAAP
Net Sales0¥ millionYear on year -50.0%
Operating profit-1,330¥ million
Ordinary income-1,323¥ million
Net income attributable to owners of the parent-1,304¥ million

The width of the band at each stage is based on revenue. The narrower it becomes toward the bottom, the smaller the proportion of revenue that remains as profit. The dotted outline is the full-year forecast and the band inside it is the result for this period. The progress rate is the result divided by the forecast.

Net income per share-¥9.39
Financial position at period-end
Total assets1,500¥ million
of which net assets 1,044 ¥ millionEquity ratio 69.6%vs. prior year-end -20.5pt

塗りつぶした部分が自己資本比率です。総資産のうち、返済のいらない自前の資金がどれだけかを表します。The thin vertical line indicates the level at the end of the previous fiscal year.

Cash inflows and outflows
Operating-879,248
Investment+913
Financials0
Net change-878,335

Stacked from zero: upward is an increase in cash, downward a decrease (in ¥ thousand).The net change represented by the dotted line is the total of three items, calculated from figures provided by the company.

Cash and cash equivalents at end of period¥1,277,863 thousand
Outlook and shareholder returns
Full-year earnings forecast
Net Sales¥0 million
Operating profit¥-1,965 million
Ordinary income¥-1,947 million
Net income¥-1,949 million
Annual Dividend Forecast0.00 yen → 0.00 yen
Factors Behind Changes in Business Performance

The company advanced research and development to create novel cancer immunotherapy drugs. Regarding cash flows from operating activities, it recorded an interim net loss before income taxes, while accounts payable increased and advances decreased.

Disclosure regarding the going concern assumption

Not applicable.

Change in accounting policy
基準改正に伴う変更 Noneそれ以外の変更 None見積りの変更 None修正再表示 None
Material subsequent eventsThe company issued the 21st Series Stock Acquisition Rights through a third-party allotment on 5 October 2026. Of these, 37,143 rights were partially exercised between 6 October and 12 November 2026, resulting in the issuance of 3,714,300 common shares.
Impairment lossNone recorded for the period (impairment loss on the interim income statement: "-")
Breakdown of extraordinary income (loss)Extraordinary income Gain on sale of non-current assets ¥659 thousand, Gain on reversal of stock acquisition rights ¥19,674 thousand / Extraordinary loss Other ¥0 thousand
Availability of Supplementary Financial Results MaterialsNone
Availability of Financial Results BriefingWhether applicable Available / Subject person Analysts and institutional investors
Issued Shares at Period-End138,891,300
Treasury Shares at Period-End81
Results for this period
ItemDetails
Fiscal Period ClassificationInterim period (second quarter)
Accounting standardsJapanese GAAP
Consolidated / non-consolidatedNon-consolidated (individual)
Period Covered1 April 2026 to 30 September 2026
Net Sales¥0 million (YoY -50.0%)
Operating profit¥-1,330 million
Ordinary income¥-1,323 million
Profit attributable to owners of the parent¥-1,304 million
Net income per share-¥9.39
Equity ratioEnd of the current fiscal period 69.6 / End of previous period 90.1
Total assets¥1,500 million
Net assets¥1,044 million
Cash flows from operating activities¥-879,248 thousand
Cash flows from investing activities¥913 thousand
Cash flows from financing activities¥0 thousand
Cash and cash equivalents at end of period¥1,277,863 thousand
Full-year earnings forecastNet Sales ¥0 million / Operating profit ¥-1,965 million / Ordinary income ¥-1,947 million / Net income ¥-1,949 million
Annual Dividend Forecast0.00 yen → 0.00 yen
Impairment lossNone recorded for the period (impairment loss on the interim income statement: "-")
Breakdown of extraordinary income (loss)Extraordinary income Gain on sale of non-current assets ¥659 thousand, Gain on reversal of stock acquisition rights ¥19,674 thousand / Extraordinary loss Other ¥0 thousand
Disclosure regarding the going concern assumptionNot applicable.
Change in accounting policyChanges due to revisions to standards None / Other changes None / Change in accounting estimate None / Restatement None
Material subsequent eventsThe company issued the 21st Series Stock Acquisition Rights through a third-party allotment on 5 October 2026. Of these, 37,143 rights were partially exercised between 6 October and 12 November 2026, resulting in the issuance of 3,714,300 common shares.
Availability of Supplementary Financial Results MaterialsNone
Availability of Financial Results BriefingWhether applicable Available / Subject person Analysts and institutional investors
Issued Shares at Period-End138,891,300
Treasury Shares at Period-End81
Factors Behind Changes in Business PerformanceThe company advanced research and development to create novel cancer immunotherapy drugs. Regarding cash flows from operating activities, it recorded an interim net loss before income taxes, while accounts payable increased and advances decreased.
Items this document does not state (10)
Operating MarginRevision to Earnings ForecastPayout ratioShareholder Return PolicySegment revenueSegment profitRegional salesOrders received and order backlogDepreciation and amortizationChanges in the scope of consolidation

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 states that it advanced research and development to create novel cancer immunotherapy drugs. The decrease in cash and deposits was attributed to expenditures related to research and development activities and other items. It also states that the FDA accepted the IND application for BP2202 at the end of July 2026, enabling the company to start a Phase 1 clinical trial in the United States.

How to read this page

This is not the documentKomori reads the disclosure the company filed and writes this summary. Figures are as stated by the company and are not audited.
Weight is not a verdictIt measures how much this changes what the company had already told the market. It is not a view on the shares.
Corrections happenIf the company reissues this disclosure, the page is rebuilt from the corrected version and the revision number moves up.
Summary of Financial Results for the Second Quarter (Interim Period) of the Fiscal Year Ending March 2027 (Japanese GAAP) (Non-consolidated) | BrightPath Biotherapeutics Co.,Ltd. (4594) timely disclosure | Komori