PeptiDream
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PeptiDream (4587) investor relations material

PeptiDream Q4 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q4 2025 earnings summary16 Feb, 2026

Executive summary

  • Transitioned from a discovery-focused start-up to a global pharmaceutical company with a robust pipeline in macrocyclic peptide therapeutics and radiopharmaceuticals, ending FY2025 with 13 clinical programs, nearly doubling from the previous year.

  • Maintained profitability in radiopharmaceuticals for the fourth consecutive year, but overall FY2025 revenue was significantly below forecast due to delayed out-licensing and milestone deals, resulting in a net loss of ¥3.7 billion.

  • Management structure expanded and major investments initiated in R&D and manufacturing facilities to support future growth.

  • No dividends paid or planned, with a focus on R&D investment and internal reserves.

Financial highlights

  • FY2025 revenue was ¥18.5 billion, down 60.3% YoY and significantly below the initial forecast, mainly due to delayed out-licensing; radiopharmaceuticals contributed ¥15.7 billion, drug discovery ¥2.8 billion.

  • EBITDA was negative at ¥2.8 billion; net loss attributable to owners was ¥3.7 billion; basic EPS was -¥28.99.

  • Cash and cash equivalents ended at ¥28.7 billion, down ¥19.4 billion YoY.

  • R&D expenses to increase from ¥5 billion in 2025 to ¥6.5 billion in 2026.

  • FY2026 revenue forecast is ¥32 billion plus potential large upfront payments, with core operating profit expected at ¥4.6 billion.

Outlook and guidance

  • Anticipates 6–12 new clinical programs to enter development in 2026, targeting 19–25 programs by year-end.

  • Conservative revenue guidance for 2026, separating high-probability projects (¥15 billion) from potential large lump-sum deals.

  • Long-term goal to reach ¥100 billion in annual revenue, driven by core therapeutic areas.

  • R&D spending and headcount expected to rise as more programs advance.

What underpins the FY2026 revenue forecast growth?
Which wholly-owned programs enter clinical trials in 2026?
How is governance reinforced post-reagent incident?
Oral myostatin inhibitor partnering strategy
PDRadiopharma's Japan rights strategy
FY2026 revenue stabilization strategy
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Frequently asked questions

PeptiDream Inc. is a Japan-based biotechnology company specializing in peptide-based drug discovery and development. The company utilizes its proprietary Peptide Discovery Platform System (PDPS) to identify and optimize peptide therapeutics for various medical applications. PeptiDream collaborates with global pharmaceutical companies to develop novel therapeutics across multiple disease areas. Its research and development efforts focus on peptide-drug conjugates, small-molecule drugs, and peptide-based imaging agents. The company is headquartered in Kawasaki, Japan, and its shares are listed on the TSE.

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