Uncertainty regarding the timing and amount of license milestone revenue
First written in FY2023. 2 of 3 entries say "Restated". Latest entry: FY2025.
The whole theme swung hardest in 2019: 2 of 6 companies on the "Worse" side.
13 other companies' latest entry also says "Restated".
- FY2025RestatedAnnual report
「Our revenue model is based primarily on monetization through joint development with major pharmaceutical companies and out-licensing of marketing rights. The timing of such income depends on development progress, and the amount of sales is uncertain and may differ from our expectations.」
The company reiterates the uncertainty surrounding the timing and amount of revenue from out-licensing, milestones, royalties and in-house manufacturing and marketing. - FY2024RestatedAnnual report
「The timing of such income depends on development progress, and the amount of sales is uncertain and may differ from our expectations.」
The company reiterates the risk that the timing and amount of milestone income, royalty income and revenue from in-house manufacturing and marketing will depend on development progress and sales trends. - FY2023First statedAnnual report
「In preparing our earnings forecasts, we may anticipate milestone income based on achieving specified results before a product is commercialized. However, the timing of such income depends on development progress, and the amount of sales is uncertain and may differ from our expectations.」
The company identifies uncertainty in a revenue model based on out-licensing, milestone income and sales royalties, which depends on development progress and sales trends.