Long-term, costly research and development and uncertainty over development success and regulatory approval
First written in FY2019. 4 of 8 entries say "Restated". Latest entry: 2026-10-06.
StemRIM moved to the "Worse" side of this theme in 2026, 6 years after the typical company in this theme (2020).
The whole theme swung hardest in 2022: 20 of 41 companies on the "Worse" side.
22 other companies' latest entry also says "Materialised".
- FY2025RestatedAnnual report
「Although the development of prescription pharmaceuticals requires substantial research and development investment and many years, it is not uncommon for development not to proceed as planned, for example because useful effects are not identified in clinical trials, resulting in a decision to extend or discontinue development.」
The uncertainty that substantial, long-term research and development investment and clinical trial results, among other factors, may lead to development extensions or discontinuation has been reaffirmed. - FY2024RestatedAnnual report
「Although the development of prescription pharmaceuticals requires substantial research and development investment and many years, it is not uncommon for development not to proceed as planned, for example because useful effects are not identified in clinical trials, resulting in a decision to extend or discontinue development.」
The uncertainty that substantial, long-term research and development investment and clinical trial results, among other factors, may lead to development extensions or discontinuation has been reaffirmed. - FY2022RestatedAnnual report
「Although the development of prescription pharmaceuticals requires substantial research and development investment and many years, it is not uncommon for development not to proceed as planned, for example because useful effects are not identified in clinical trials, resulting in a decision to extend or discontinue development.」
The uncertainty that substantial, long-term research and development investment, clinical trial results and regulatory approval may lead to development extensions or discontinuation has been reaffirmed. - FY2021RestatedAnnual report
「Although the development of prescription pharmaceuticals requires substantial research and development investment and many years, it is not uncommon for development not to proceed as planned, for example because useful effects are not identified in clinical trials, resulting in a decision to extend or discontinue development.」
The uncertainty that substantial, long-term research and development investment, clinical trial results and regulatory approval may lead to development extensions or discontinuation has been reaffirmed. - FY2019First statedAnnual report
「The Company develops pharmaceuticals and other products, but pharmaceutical development requires many years and substantial research expenditure, and development of each pipeline product is not necessarily successful.」
The Company has disclosed as risks the lengthy period required for clinical trials, regulatory approval and commercialisation, as well as the possibility that development may not proceed as planned.