Oncolys BioPharma : Non-consolidated Financial Results for the Fiscal Year Ended December 31, 2025

Published February 8, 2026 at 11:05 p.m. UTC

Source: MarketScreener

Note: This document has been translated from a part of the Japanese original for reference purpose only. In the event of any discrepancy between this translated document and the Japanese original, the original shall prevail.

Non-consolidated Financial Results for the Fiscal Year Ended December 31, 2025 [Japanese GAAP]

February 6, 2026

Company name: Oncolys BioPharma Inc. Stock exchange listing: Tokyo Stock Exchange Code number: 4588

URL: https://www.oncolys.com Representative: Yasuo Urata, President & CEO Contact: Kohei Hata, Executive Officer

Email: [email protected]

Scheduled date of Annual General Meeting of Shareholders: March 24, 2026 Scheduled date of commencing dividend payments: -

Scheduled date of filing annual securities report: March 25, 2026 Availability of supplementary briefing material on financial results: No Schedule of financial results briefing session: Scheduled (for analysts)

(Amounts of less than one million yen are rounded down.)

Financial Results for the Fiscal Year Ended December 31, 2025 (January 1, 2025 to December 31, 2025)

Operating Results (% indicates changes from the previous corresponding period.)

	Net sales		Operating	profit	Ordinary profit		Profit
Fiscal year ended	Million yen	%	Million yen	%	Million yen	%	Million yen	%
December 31, 2025	28	(9.0)	(2,024)	-	(2,051)	-	(2,058)	-
December 31, 2024	31	(50.2)	(1,681)	-	(1,663)	-	(1,684)	-

	Basic earnings per share	Diluted earnings per share	Rate of return on equity	Ordinary profit to total assets	Operating profit to net sales
Fiscal year ended	Yen	Yen	%	%	%
December 31, 2025	(80.00)	-	(61.1)	(52.9)	-
December 31, 2024	(77.17)	-	(80.2)	(63.5)	-

(Reference) Equity in earnings of affiliates: Fiscal year ended December 31, 2025: ¥- million

Fiscal year ended December 31, 2024: ¥- million

Financial Position

	Total assets	Net assets	Equity ratio	Net assets per share
	Million yen	Million yen	%	Yen
As of December 31, 2025	4,555	3,999	87.6	136.38
As of December 31, 2024	3,198	2,752	85.8	110.40

(Reference) Equity: As of December 31, 2025: ¥3,992 million

As of December 31, 2024: ¥2,744 million

Cash Flows

	Cash flows from operating activities	Cash flows from investing activities	Cash flows from financing activities	Cash and cash equivalents at end of period
Fiscal year ended	Million yen	Million yen	Million yen	Million yen
December 31, 2025	(1,940)	(7)	3,221	3,429
December 31, 2024	(2,020)	(4)	2,879	2,165

Dividends

	Annual dividends					Total dividends	Payout ratio	Dividends to net assets
	1st quarter-end	2nd quarter-end	3rd quarter-end	Year-end	Total	Total dividends	Payout ratio	Dividends to net assets
Fiscal year ended December 31, 2024 Fiscal year ended December 31, 2025	Yen	Yen	Yen	Yen	Yen	Million yen	%	%
	- -	0.00 0.00	- -	0.00 0.00	0.00 0.00	- -	- -	- -
Fiscal year ending December 31, 2026 (Forecast)	-	0.00	-	0.00	0.00		-

Financial Results Forecast for the Fiscal Year Ending December 31, 2026 (January 1, 2026 to December 31,

2026)

Financial results forecast is not disclosed due to the difficulty of making reasonable estimates. For details, please see "1. Overview of Business Results, etc. (4) Future Outlook" on page 3 of the supplementary material.

* Notes:

Changes in accounting policies, changes in accounting estimates and retrospective restatement
1. Changes in accounting policies due to the revision of accounting standards: No
2. Changes in accounting policies other than 1) above: No
3. Changes in accounting estimates: No
4. Retrospective restatement: No
Total number of issued shares (common shares)
1. Total number of issued shares at the end of the period (including treasury shares): December 31, 2025: 29,291,600 shares
  December 31, 2024: 24,961,600 shares
2. Total number of treasury shares at the end of the period: December 31, 2025: 17,641 shares
  December 31, 2024: 101,238 shares
3. Average number of shares during the period:

Fiscal year ended December 31, 2025: 25,725,718 shares

Fiscal year ended December 31, 2024: 21,831,246 shares

These financial results are outside the scope of audit by certified public accountants or an audit corporation.
Explanation of the proper use of financial results forecast and other notes (Note regarding forward-looking statements, etc.)

The earnings forecasts and other forward-looking statements herein are based on information available to the

Company at the time of the release of these materials and certain assumptions deemed reasonable, and do not represent a commitment from the Company that they will be achieved. In addition, actual financial results, etc. may differ significantly due to a wide range of factors. For the assumptions used in forecasting financial results and notes regarding the use of financial forecasts, please see "1. Overview of Business Results, etc. (4) Future Outlook" on page 3 of the supplementary material.

Table of Contents

Overview of Business Results, etc 2
1. Overview of Business Results for the Fiscal Year Under Review 2
2. Overview of Financial Position for the Fiscal Year Under Review 2
3. Overview of Cash Flows for the Fiscal Year Under Review 3
4. Future Outlook 3
5. Basic Policy on Profit Distribution and Dividends for the Fiscal Year Under Review and Next Fiscal Year
  . 3
Management Policies 4
1. Basic Policy on Management 4
2. Target Business Indicators 4
3. Medium- to Long-term Management Strategies 4
4. Issues to be Addressed 5
Basic Stance Concerning Choice of Accounting Standards 7
Financial Statements and Primary Notes 8
1. Balance Sheets 8
2. Statements of Income 10
3. Statements of Changes in Equity 11
4. Statements of Cash Flows 13
5. Notes to Financial Statements 14
  (Notes on going concern assumption) 14
  (Significant accounting policies) 14
  (Significant changes in shareholders' equity) 15
  (Equity in earnings (losses) of affiliates if equity method is applied) 15
  (Revenue recognition) 16
  (Segment information, etc.) 17
  (Per share information) 19
  (Significant subsequent events) 19
Supplemental Information 20
1. Research and Development Activities 20

1. Overview of Business Results, etc.

Overview of Business Results for the Fiscal Year Under Review
During the fiscal year ended December 31, 2025, although uncertainties increased due to U.S. tariff policy, the Japanese economy saw robust corporate activities, with the expectation of a limited impact from mutual tariff policies following the agreement between Japan and the U.S. Meanwhile, the unstable situation continues due to factors such as the deterioration in political relations with China and no resolution in sight for the Russia-Ukraine war and the Israel conflict.
Under these circumstances, the Company has been pursuing a vision of "Providing new options to future cancer treatments, and leaving our footprint in the history of cancer treatment through those achievements." In particular, the Company is promoting research, development, and business activities with a focus on oncolytic virus OBP-301. The Company is progressively moving from the conventional single business model dependent on licenses to a "hybrid business model" that combines a pharmaceutical company-type business model and a license-type business model, with the development of the domestic business of OBP-301 as a pharmaceutical company-type business model.
In addition, concerning LINE-1 inhibitor OBP-601 (censavudine), Transposon Therapeutics, Inc. (hereinafter "Transposon") is conducting clinical trials at its own expense based on a license agreement and proceeding with business activities.
For details of the Company's activities, please refer to "5. Supplemental Information (1) Research and Development Activities."
For the fiscal year ended December 31, 2025, net sales were ¥28,546 thousand (net sales of ¥31,384 thousand in the previous fiscal year), and operating loss was ¥2,024,068 thousand (operating loss of ¥1,681,403 thousand in the previous fiscal year). In addition, the Company recorded interest income of ¥3,949 thousand, and other items as non-operating income, as well as share acquisition rights issuance costs of ¥7,177 thousand, share issuance costs of ¥9,222 thousand, and other items as non-operating expenses. Ordinary loss was ¥2,051,244 thousand (ordinary loss of ¥1,663,911 thousand in the previous fiscal year). The Company also recorded an impairment loss of ¥2,772 thousand on the renovation of the Tokyo head office, etc., as an extraordinary loss. As a result, net loss was ¥2,058,049 thousand (net loss of ¥1,684,778 thousand in the previous fiscal year).
Overview of Financial Position for the Fiscal Year Under Review
1. Status of Assets, Liabilities and Net Assets
  Assets at the end of the fiscal year under review were ¥4,555,879 thousand (42.4% increase compared with the end of the previous fiscal year), owing partly to an increase in cash and deposits. Liabilities were ¥555,909 thousand (24.5% increase compared with the end of the previous fiscal year), owing partly to an increase in contract liabilities resulting from advances received. Net assets were ¥3,999,969 thousand (45.3% increase compared with the end of the previous fiscal year), owing to capital increase through issuance of new shares, loss incurred and other factors.
2. Status of Cash Flows

Cash and cash equivalents at the end of the fiscal year under review were ¥3,429,561 thousand (58.3% increase compared with the end of the previous fiscal year). Cash flows for the fiscal year under review were as follows.

(Cash flows from operating activities)

Net cash flows used in operating activities were ¥1,940,866 thousand (a cash outflow of ¥2,020,088 thousand in the previous fiscal year). This is primarily attributable to loss before income taxes of ¥2,054,016 thousand, a decrease in advance payments - other of ¥147,229 thousand, an increase in accounts receivable - other of

¥199,872 thousand, and an increase in contract liabilities of ¥110,000 thousand.

(Cash flows from investing activities)

Net cash flows used in investing activities were ¥7,583 thousand (a cash outflow of ¥4,705 thousand in the previous fiscal year). This is primarily attributable to payments of leasehold and guarantee deposits of ¥4,496 thousand and purchase of property, plant and equipment of ¥3,014 thousand.