Nxera Pharma KK

Latest Results (14.08.2024):

Revenue Growth

Nxera Pharma KK reported a significant increase in revenue for the first half of FY2024, reaching ¥12,720 million ($84 million), compared to ¥2,146 million ($16 million) in the same period of the previous year. This growth was primarily driven by the inclusion of PIVLAZ® sales in Japan, a new 'option to license' transaction with Boehringer Ingelheim, and several milestone payments from partners such as Neurocrine, Centessa, and AbbVie.

Core Operating Profit

For the first half of FY2024, Nxera Pharma KK achieved a core operating profit of ¥1,176 million ($8 million), a significant turnaround from a core operating loss of ¥2,720 million ($20 million) in the prior comparative period. This improvement was mainly due to the increased revenue, although it was partially offset by higher costs, including additional core costs related to the inclusion of Nxera Pharma Japan and Nxera Pharma Korea in the scope of consolidation.

Operating Loss

Despite the increase in revenue, Nxera Pharma KK reported an operating loss of ¥3,654 million ($24 million) for the first half of FY2024, compared to ¥4,168 million ($31 million) in the same period last year. The operating loss was influenced by non-core costs such as amortization charges on intangible assets, PIVLAZ® inventory adjustments, and integration costs.

Cash Balance

As of June 30, 2024, Nxera Pharma KK maintained a robust cash balance of ¥51 billion ($317 million). This strong cash position ensures sufficient investment capacity to support ongoing and future business operations and strategic initiatives.

Financial Outlook

Nxera Pharma KK has provided guidance for the full year FY2024, with expected R&D expenses ranging from ¥12,000 to ¥14,000 million and S&M plus G&A expenses between ¥18,000 to ¥20,000 million. The company plans to continue investing in R&D activities, integration costs, and the commercialization of key products to drive long-term growth.