Sosei Group Corporation
Quarterly Report for the Third Quarter of 2021
(Quarter ended September 30, 2021)
This document has been translated from the Japanese original for reference purposes only. In the event of any discrepancy between this translated document and the Japanese original, the original shall prevail. Sosei Group Corporation makes no warranty of any nature as to the accuracy of this English translation and assumes no responsibility for this translation or for direct, indirect or any other form of damages arising from the translation.
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Table of Contents
Part 1: Company Information | |
Section 1. Company Overview …………………………………………………………………………………………………………………… | 4 |
Section 2. Business Review ………………………………………………………………………………………………………………………… | 5 |
Section 3. Information about the Filing Company ……………………………………………………………………………………… | 18 |
Section 4. Interim Condensed Consolidated Financial Statements ……………………………………………………………… | 21 |
Part 2: Bond Guarantee Information | |
Part 2: Bond Guarantee Information ……………………………………………………………………………………………………… | 44 |
Independent Auditor's Report …………………………………………………………………………………………………………………… | 45 |
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Quarterly Report
Document to be filed: | Quarterly Securities Report |
Grounds act: | Article 24-4-7, Paragraph 1 of Financial Instruments and |
Exchange Act | |
Destination of filing: | Director General of the Kanto Local Finance Bureau |
Date of filing: | November 11, 2021 |
Accounting period: | The 32nd Term Third Quarter (July 1, 2021 - September 30, |
2021) | |
Company name: | Sosei Group Corporation |
Representative's name and title: | Shinichi Tamura, Representative Executive Officer, CEO |
Location of head office: | 2-1 Kojimachi, Chiyoda-ku, Tokyo |
Phone: | +81-3-5210-3290 (main) |
Contact person: | Chris Cargill, Executive Officer CFO |
Nearest contact location: | 2-1 Kojimachi, Chiyoda-ku, Tokyo |
Phone: | +81-3-5210-3290 (main) |
Contact person: | Chris Cargill, Executive Officer CFO |
Location for public inspection: | Tokyo Stock Exchange, Inc. |
(2-1 Nihonbashi Kabutocho, Chuo-ku, Tokyo) |
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Sosei Group Corporation
Section 1. Company Overview
- Changes in Key Management Indices
The 31st Term | The 32nd Term | The 31st Term | |||
Nine month period | Nine month period | ||||
ended | ended | ||||
September 30, 2020 | September 30, 2021 | ||||
Term | (Unaudited) | (Unaudited) | (Audited) | ||
January 1, 2020 | January 1, 2021 | January 1, 2020 | |||
Period | Septenber 30, 2020 | September 30, 2021 | December 31, 2020 | ||
Revenue | 4,443 | 3,590 | |||
(Three month period ended September | ¥m | 8,842 | |||
(1,927) | (467) | ||||
30) | |||||
(Loss) profit before income taxes | ¥m | (1,478) | (4,152) | 1,622 | |
Net (loss) profit attributable to | |||||
owners of the parent company | ¥m | (1,642) | (1,825) | 1,479 | |
(Net profit, Three month period ended | (475) | (472) | |||
September 30) | |||||
Total comprehensive (loss) income | |||||
attributable to owners of the parent | ¥m | (3,319) | 2,094 | 661 | |
company | |||||
Equity attributable to owners of the | ¥m | 48,230 | 53,773 | 52,381 | |
parent company | |||||
Total assets | ¥m | 73,322 | 88,956 | 76,465 | |
Basic (loss) earnings per share | (21.03) | (22.50) | |||
(Earnings, Three month period ended | ¥ | 18.77 | |||
(5.94) | (5.80) | ||||
September 30) | |||||
Diluted (loss) earnings per share | ¥ | (21.03) | (22.50) | 18.59 | |
Ratio of equity attributable to owners | (%) | 65.8 | 60.4 | 68.5 | |
of the parent company to total assets | |||||
Cash flows from operating activities | ¥m | 2,232 | (2,888) | 4,672 | |
Cash flows from investing activities | ¥m | (109) | 379 | (150) | |
Cash flows from financing activities | ¥m | 20,678 | 11,191 | 20,278 | |
Cash and cash equivalents at the end | ¥m | 37,800 | 49,841 | 40,008 | |
of the period | |||||
Notes 1. | The Group has prepared interim condensed consolidated financial statements and, therefore, has not included | ||||
information regarding changes in key management indices for the submitting company. |
2. The financial figures quoted above have been extracted from the interim condensed consolidated financial statements and consolidated financial statements prepared in accordance with International Financial Reporting Standards (IFRS).
3. Revenue does not include consumption taxes.
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Business Description
For the nine month period ended September 30, 2021, there was no significant change in the nature of the business run by the Group, which includes the Company and its affiliated companies. There were also no changes in the Group's significant affiliated companies.
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Sosei Group Corporation
Section 2. Business Review
Forward-looking statements in this section reflect the views of management as of Nobember 11, 2021.
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Business and Operational Risks
For the nine month period ended September 30, 2021 there were no new business-related risks and no significant changes concerning business-related risks stated in the annual securities report for the preceding financial year.
- Overview of Operating Results
2.1 Operating Results
- Analysis of operating results
The Group is a science and technology-led company, specializing in drug discovery and early-stage drug development. Our mission is to make a significant contribution to improving the quality of life and health of people around the world. Our vision is to become one of Japan's global biotechnology and drug discovery champions.
During the nine months ended September 30, 2021, the Group continued to advance its drug discovery and early-stage development pipeline, as well as enhance its proprietary StaR® ("stabilized receptor") and aligned technologies, and Structure-based Drug Design ("SBDD") platform.
Our business model is focused across three core areas to create value; (i) supporting our existing partnerships with major global pharmaceutical companies, (ii) advancing R&D with innovative technology companies and venture funds, and (iii) signing new high-value partnerships based on successful in-house drug discovery and early-stage development of new candidates.
As of September 30, 2021, the Group had over 20 programs in total ongoing in discovery, with multiple in-house and partnered programs currently in preclinical/clinical trials1,2.
Due to the Group's renewed focus on small molecules and therapeutic antibodies, peptide discovery programs, which include HTL0030310 (an SSTR agonist), GLP-1 antagonist and Dual GLP- 2/GLP-1 agonist, have been set aside for academic or industrial partnerships and will not be progressed any further by the Group in-house on a fully funded basis.
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Includes Imaradenant (AZD4635) for multiple solid malignancies, HTL0016878 for neurological diseases, HTL0018318 for neurological diseases (voluntarily suspended), HTL009936 for neurological diseases, PF-07081532 for T2DM/Obesity, PF-07054894 for Inflammatory Bowel Disease, PF- 07258669 for Anorexia, BHV3100 for neurological diseases, TMP301 for neurological disorders, and HTL0030310 for endocrine disorders.
2 Phase 2 trial of HTL0018318 for DLB in Japan remains under voluntary suspension and has been withdrawn. The Group may resubmit a new clinical trial notification for HTL0018318 (or another novel M1 agonist) to the Japanese Pharmaceuticals and Medical Devices Agency (PMDA) in the future, pending the outcome of an ongoing analysis and studies into toxicology findings.
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Sosei Group Corporation published this content on 11 November 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 11 November 2021 06:36:08 UTC.