D.western Therapeutics Institute, Inc.TSE: 4576

Q2 FY12/24 Financial Results Briefing Materials

Aug 9, 2024 at 9:44 AM UTC · Issued by D.western Therapeutics Institute, Inc.

Note: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.

Q2 FY12/24

Financial Results Briefing Materials

August 9, 2024

D. Western Therapeutics Institute, Inc.

Stock Code: 4576

Table of Contents

Q2 FY12/24 Financial Results
Progress of Business in FY12/24
FY12/24 Forecast

(Reference) Business Overview

1. Q2 FY12/24 Financial Results

January 1 - June 30, 2024

Consolidated Statement of Income (vs. full-year forecast)

							（JPYmn）
	FY 12/23		FY 12/24
	1H results	FY results	1H results	YOY	FY forecast	Progress	Primary factors
	change	(out Feb.13)

Net sales	187	428	223	35	400	55.9％ •	Storong royalties for DW-1002 and
							GLANATEC FAMILY
SG&A expenses	431	1,190	654	223
						•	Development expenses for H-1337
R&D expenses	294	930	521	226	1,600	32.6％	was less than expected. It will be
							expensed upon completion
Other SG&A	136	259	133	(3)
expenses

Operating loss	(258)	(798)	(449)	(191)	(1,500)	－
Ordinary loss	(254)	(796)	(459)	(204)	(1,510)	－
Loss attributable to	(247)	(812)	(520)	(272)	(1,510)	•	Loss on redemption of convertible
owners of parent for	－	bonds of JPY60mn in extraordinary
the interim period							losses
Copyright D. Western Therapeutics Institute, Inc. All Rights Reserved.				5

Consolidated Statement of Income

As of June 30, 2024

(change compared to December 31, 2023)

（JPYmn）

Current liabilities 95（-98）

Cash and deposits

Non-current liabilities

Cash and deposits

Declined due mainly to R&D expenditures
Funding for immediate business development activities is secured., supported in part by the exercise of Series 12 Stock Acquisition Rights

Supplies

JPY260mn increase in advance payments to suppliers due to H-1337 development

Non-current assets

JPY20mn in amortization of intangible assets related to the licensing agreement for DW-1002 (Europe)

1,301（-566）

1,113（+214）

Current liabilities

JPY112mn decline in accounts payable due to H-1337 and DWR-2206 development costs
JPY9mn increase in current portion of long-term borrowings

Non-current liabilities


Accounts
receivable trade 123（+6）	Net assets

Other current	423（＋269	）	856（-423）
assets


Non-current	217（-17）
assets

JPY160mn increase in long-term borrowings due to loans to fund the development of DWR-2206
JPY53mn increase due to difference between issuance of bonds payable of JPY660mn and redemption of convertible bonds of JPY60mn

Net assets

Recorded a loss attributable to owners of parent of JPY520mn
Recorded JPY45mn each in capital and capital reserves due to exercise of stock acquisition rights

2. Progress of Business in FY12/24

Development Pipeline in 2024 1H

products on market

Region

Current state

GLANATEC

（

）

Japan, Asia

Decrease slightly due to launch of compounded drugs

Single drug

GLA-ALPHA

（

）

Japan

Launched in December 2022, Strong sales

Combination drug

DW-1002（

Single drug

）

Europe, U.S.

Strong due to yen depreciation

DW-1002（

）

Europe, etc.

Strong due to yen depreciation

Combination drug

Products

Region

Non-clinical

P-I

P-Il

P-Ill

Application

Approval

Current state

K-321

U.S., etc.

Global Phase III ongoing

Combination

U.S.

DW-1002

China

Regulatory review underway

Single

Japan

Negotiations with the regulatory authority and

examination underway for application filing

DW-1001

Japan

H-1337

U.S.

Phase IIb ongoing

DW-5LBT

U.S.

Reapplied in January 2024, received CRL in

July

DWR-2206

Japan

Submitted a Clinical Trial plan Notification for

Phase II in March

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