Nxera Pharma (4565) AGM 2025 summary

Opening remarks and agenda

• The meeting was chaired by the President and CEO, with a live stream for shareholders and participation guidelines provided.

• Quorum was confirmed with 9,650 shareholders present or voting, representing 567,622 voting rights.

• The agenda included business reports, proposals, Q&A, voting, and closing declaration.

Board and executive committee updates

• Audit Committee reported no inappropriate conduct or violations by directors or executive officers.

• Internal control systems and independent auditor's methods were found appropriate.

• Six directors re-appointed, two new external independent directors nominated, with roles in compensation, nomination, and audit committees.

Financial performance review

• FY2024 revenue reached JPY 28,835m, up 126% from FY2023, driven by PIVLAZ sales and milestone payments.

• Core operating profit was JPY 3,606m, reversing a core operating loss in FY2023.

• Operating loss narrowed to JPY 5,423m from JPY 9,526m in FY2023; cash reserves at JPY 36.2bn.

• Cash balance temporarily decreased due to advance API purchases for QUVIVIQ, securing over one year of supply.

• R&D and SG&A expenses were lower than estimated due to successful integration.