日本ケミカルリサーチ announced on 11 September that dosing had begun in the global Phase I/II clinical trial of JR-446. Developments reported include the expansion of Izargo sales, growth in contract revenue, progress in preparations for the JR-141 application and progress in clinical trials.
The share price moved within a narrow range, closing at ¥512 on 11 September and ¥516 on 18 September. Even after the sharp increase in trading volume on 11 September, the stock continued to trade around ¥516. These movements reflect recent trading conditions.
日本ケミカルリサーチ announced on 11 September that dosing had begun in the global Phase I/II clinical trial of JR-446. Recent disclosures have indicated progress in development, and further developments relevant to the medium to long term are expected to emerge intermittently.
The expansion of Izargo sales and growth in contract revenue have been identified as areas of focus. Contract revenue has increased through licensing agreements with multiple companies and the exercise of option rights, potentially providing a source of funding for research and development investment.
According to the earnings summary, for the first quarter of the fiscal year ending July 2026, revenue was ¥9.7 billion, operating loss was ¥2.1 billion and net loss was ¥1.9 billion. Revenue increased year on year, while the losses widened.
Key points to monitor for future earnings include the expansion of Izargo sales, growth in contract revenue and progress in major pipeline programs. Risk factors, including higher research and development expenses and the impact of drug prices, have also been identified. Overall, the company’s medium- to long-term developments warrant close monitoring.