Worth reading
40Recurring
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
1
¥100 million (AMED grant)Wording
Avoiding a definitive answer
How definitive the wording is.Items stated in the management plan
Annual updateWhat happened to the previous planPlan for the fiscal year ended March 2026 (out-licensing activities, clinical development, exploratory research and core technologies) → Actual results for the fiscal year ended March 2026 (failure to achieve out-licensing targets, extension of the clinical trial period, and progress in exploratory research and core technologies)0.0%Calculated from the two disclosed figures
Key initiatives
01Business development 1: Advancing technology through the integration of antibody acquisition technology and AI drug discovery
02Business development 2: Expansion through collaboration
03Business development 3: Our category
04Out-licensing activities
05Clinical Development
06Exploratory research
07Core technology 1
08Core technology 2
09PPMX Antibody Library 2: Promoting pipeline development and expanding the business as a platform business
10High-efficiency single B-cell platform technology: Establishing a business model for commercialization
Size of the Target MarketGlobal antibody therapeutics market: $87.8 billion in 2016 (14%) and $281 billion in 2026 (23%). Source: Evaluate Pharma. The top 10 global pharmaceutical companies by sales in fiscal 2025 were compiled based on Nikkei Bio ONLINE, published on 7 May 2026.
Risks identified by the company
Pharmaceutical research and development, pharmaceutical industry: Uncertainty in new drug development
Pharmaceutical research and development, pharmaceutical industry: Competition
Pharmaceutical research and development, pharmaceutical industry: Collaboration with external contractors
Business operations: Patents
Business operations: Uncertainty relating to the occurrence of disasters, infectious diseases and other events
Pipeline: PPMX-T002
Pipeline: PPMX-T003
Exploratory pipeline (including PPMX-T004)
Risks relating to business performance, etc.: Cash flow management
Risks relating to business performance, etc.: Failure to meet the Growth Market listing maintenance criteria
Reason for revision or withdrawal
The clinical trial period was extended through 31 March 2027 due to delays in patient enrollment. Although activities were conducted with a target of fiscal year ended March 2025, no license agreement was reached and activities are continuing. The clinical research period was extended by 3 months due to delays in data collection.
| Item | Details |
|---|---|
| Plan name | Business Plan and Growth Potential |
| Plan period | Fiscal year ending March 2027 to fiscal year ending March 2028 |
| Progress against the plan | Annual update |
| Key initiatives | Business development 1: Advancing technology through the integration of antibody acquisition technology and AI drug discovery, Business development 2: Expansion through collaboration, Business development 3: Our category, Out-licensing activities, Clinical Development, Exploratory research, Core technology 1, Core technology 2, PPMX Antibody Library 2: Promoting pipeline development and expanding the business as a platform business, High-efficiency single B-cell platform technology: Establishing a business model for commercialization |
| Results under the previous plan | Plan for the fiscal year ended March 2026 (out-licensing activities, clinical development, exploratory research and core technologies) → Actual results for the fiscal year ended March 2026 (failure to achieve out-licensing targets, extension of the clinical trial period, and progress in exploratory research and core technologies) |
| Reason for revision or withdrawal | The clinical trial period was extended through 31 March 2027 due to delays in patient enrollment. Although activities were conducted with a target of fiscal year ended March 2025, no license agreement was reached and activities are continuing. The clinical research period was extended by 3 months due to delays in data collection. |
| Size of the Target Market | Global antibody therapeutics market: $87.8 billion in 2016 (14%) and $281 billion in 2026 (23%). Source: Evaluate Pharma. The top 10 global pharmaceutical companies by sales in fiscal 2025 were compiled based on Nikkei Bio ONLINE, published on 7 May 2026. |
| Risks identified | Pharmaceutical research and development, pharmaceutical industry: Uncertainty in new drug development, Pharmaceutical research and development, pharmaceutical industry: Competition, Pharmaceutical research and development, pharmaceutical industry: Collaboration with external contractors, Business operations: Patents, Business operations: Uncertainty relating to the occurrence of disasters, infectious diseases and other events, Pipeline: PPMX-T002, Pipeline: PPMX-T003, Exploratory pipeline (including PPMX-T004), Risks relating to business performance, etc.: Cash flow management, Risks relating to business performance, etc.: Failure to meet the Growth Market listing maintenance criteria |
| Publication date | 25 June 2026 |
Items this document does not state (16)
Sales TargetOperating profit targetOperating profit margin targetNet income targetROE targetROIC targetPayout ratio / DOE policyTreasury share acquisition policyCost of capitalSelf-assessment of PBR and share priceTotal investment planInvestment amount by sectorSegment targetNon-financial targetsPlan assumptionsDate of board resolution
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 clinical trial of PPMX-T003 was extended through March 2027 due to delays in patient enrollment. Out-licensing activities did not result in a license agreement by the target timing and are continuing, while the clinical research period was extended by 3 months due to delays in data collection.
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.