Revenue Dependence on Specific Pipeline Programs and Partners
First written in FY2023. 4 of 6 entries say "Restated". Latest entry: FY2027-H1.
The whole theme swung hardest in 2021: 1 of 6 companies on the "Worse" side.
3 other companies' latest entry also says "Restated".
- FY2027-H1RestatedAnnual report
「The Company has obtained from CORXEL an exclusive worldwide development, manufacturing and commercialization license for certain indications of TMS-008.」
The Company reaffirms its partnership with CORXEL and its exclusive worldwide rights for certain TMS-008 indications. - FY2026-H1RestatedAnnual report
「The Company has obtained from CORXEL an exclusive worldwide development, manufacturing and commercialization license for certain indications of TMS-008.」
The Company reiterates its partnership with CORXEL, under which it holds rights to develop, manufacture and commercialize TMS-007 and TMS-008. - FY2025RestatedAnnual report
「The Company’s revenue plan depends on milestone and royalty income received from its partner relating to TMS-007. Because the partner will conduct most R&D, regulatory applications, manufacturing and sales after out-licensing, the Company’s revenue may depend on the partner’s strategy and development progress and may fluctuate significantly.」
The Company continues to disclose the risk that TMS-007 milestone and royalty income depends on its partner’s strategy and development progress, with no guarantee of information access or continued development. - FY2025-Q1RestatedAnnual report
「The Company has obtained from JIXING an exclusive worldwide development and commercialization license for certain indications of TMS-008.」
The Company states that it holds from JIXING exclusive development and commercialization rights for TMS-007 in Japan and for certain TMS-008 indications worldwide. - FY2024-Q3ReframedAnnual report
「The transfer accompanied amendments to the option agreement requested by JIXING. JIXING, whose shares are more than 80% owned through funds established and managed by RTW, a global investment firm specializing in life sciences, has strong development capabilities and could be an optimal partner. Although total development milestones would decrease from $165 million to $12.5 million, the Company expects the increase in expected revenue from the overall transaction to exceed the reduction, based on a third-party valuation that assumed the Company would develop and commercialize TMS-007 and the new JX09 program in Japan.」
Revenue dependence shifted from Biogen to JIXING HK. Maximum development milestones fell from $165 million to $12.5 million, while a new revenue structure included sales milestones, royalties and Japanese development rights. - FY2023First statedAnnual report
「The Company’s revenue plan depends on milestone and royalty income received under its option agreement with Biogen relating to TMS-007. Because Biogen would conduct R&D, regulatory applications, manufacturing and sales after out-licensing, the Company’s revenue would depend on Biogen’s strategy and development progress and could fluctuate significantly.」
The Company’s revenue plan depends on Biogen’s strategy and development progress for TMS-007, creating potential volatility in milestone and royalty income.