SanBio Company (4592) Q2 2027 earnings summary

Executive summary

• Launched AKUUGO® for intracerebral transplantation targeting chronic motor paralysis from traumatic brain injury, with national sales starting May 2026 after NHI price listing and conditional approval in July 2024.

• Focused on building patient access, treatment infrastructure, and regional medical collaboration, with initial adoption at eight major sites and a target of six cases dosed by fiscal year-end.

• Ongoing global expansion efforts, including U.S. Phase 3 trial preparations and new indication development for ischemic and hemorrhagic stroke.

• Strengthened manufacturing and supply systems, including transition to domestic production and logistics integration after U.S. facility closure.

• Continued outreach to healthcare professionals, with over 1,000 participants in seminars and events to support adoption and awareness.

Financial highlights

• R&D expenses for Q2 FY2027.1 were ¥1,226 million, down ¥120 million year-over-year, mainly due to timing shifts in manufacturing-related costs.

• Operating loss was ¥1,909 million for the six months ended July 31, 2026, slightly higher than the previous year.

• Net loss attributable to owners of parent was ¥1,791 million, improving from ¥1,997 million loss year-over-year.

• Operating revenue was ¥1,226 million, down from ¥1,346 million year-over-year.

• Cash and cash equivalents decreased to ¥12,677 million as of July 31, 2026, from ¥15,083 million as of January 31, 2026.

Outlook and guidance

• Losses were smaller than forecast due to delayed R&D expenses, with full-year forecasts adjusted accordingly; full-year forecast unchanged: operating revenue ¥396 million, operating loss ¥5,229 million, net loss ¥5,133 million, net loss per share ¥65.77.

• Plans to expand AKUUGO® adoption, secure stable supply, and initiate clinical trials for new indications.

• Strategic focus on global expansion, leveraging Japan as a base and progressing U.S. business and stroke programs.

• No dividend forecast for the fiscal year ending January 31, 2027.