Nxera Pharma Co., Ltd. · TSE:4565
Nxera Pharma — Q3 2026 Earnings Presentation
41 slides from Nxera Pharma's earnings presentation, Oct 30, 2026
Slide 1: 3Q FY2026 Results Briefing & R&D Day
EXTERNAL NON-CONFIDENTIAL 3Q FY2026 Results Briefing & R&D Day October 30, 2026 | Nxera Pharma Co., Ltd. (TSE: 4565)
Slide 2: Disclaimer
The material that follows is a presentation of general background information about Nxera Pharma Co., Ltd and its subsidiaries (collectively, the “Company”) as of the date of this Disclaimer presentation. This material has been prepared solely for informational purposes and is not to be construed as
Slide 3: Agenda
Agenda 01 Operational Highlights 02 Financial Results 03 Japan / APAC Commercial 04 UK R&D 05 The Road Ahead 06 Q&A 3
Slide 4: Operational Highlights
HIGHLIGHTS RESULTS JP/APAC R&D OUTLOOK Operational Highlights Christopher Cargill, President and CEO 01
Slide 5: Profitable in Japan, discovering in the UK, partnered with the world
HIGHLIGHTS RESULTS JP/APAC R&D OUTLOOK Profitable in Japan, discovering in the UK, partnered with the world Q3 FY2026: three messages today, and how they lead to the road ahead 1 PROFITABLE AND GROWING 2 SCIENCE THAT PARTNERS PAY FOR 3 ON TRACK FOR 2030 REVENUE (9M) ONE MODEL ¥ 27.7Bn PARTNER ¥ 13.3
Slide 6: Nine months FY2026: revenue up 27%, profitable in both businesses
HIGHLIGHTS RESULTS JP/APAC R&D OUTLOOK Nine months FY2026: revenue up 27%, profitable in both businesses FINANCIAL PERFORMANCE COMMERCIAL BUSINESS PLATFORM BUSINESS ✓ ：Completed in Q3 REVENUE (JPY M) PIVLAZ® SALES MULTIPLE REVENUE-GENERATING MILESTONES ACHIEVED 21,848 27,742 ¥ 9.9Bn $22.5M $10.0M
Slide 7: 2026 priorities: what we promised, what we delivered
HIGHLIGHTS RESULTS JP/APAC R&D OUTLOOK 2026 priorities: JPY 19.5 billion+ net product sales ¥14.4Bn what we promised, 01 (PIVLAZ® plus QUVIVIQ®) Progress: 74% ✓ Commercial what we delivered Get one or more late-stage assets Lucerastat 02 ✓ for Japan and APAC (excl. China) in-licensed Commercial Sign
Slide 8: Financial Results
HIGHLIGHTS RESULTS JP/APAC R&D OUTLOOK Financial Results Hironoshin Nomura, CFO 02
Slide 9: Revenue up 27% to ¥27.7bn, and profitable on both core and IFRS basis
HIGHLIGHTS RESULTS JP/APAC R&D OUTLOOK Revenue up 27% to ¥27.7bn, and profitable on both core and IFRS basis Commercial ¥14.4bn, partner income ¥13.3bn; core OP excludes non-core costs (JPY million) PROGRESS IN 1-3Q FY2026 30000 27,742 ◼ Received multiple milestone 1,454 payments from Neurocrine, 25
Slide 10: Breakdown of 1-3Q financial results (FY2026)
HIGHLIGHTS RESULTS JP/APAC R&D OUTLOOK Breakdown of 1-3Q financial results (FY2026) Both businesses profitable: commercial ¥7.1bn and platform ¥2.7bn core operating profit Consolidated Non-core Consolidated (JPY million) Platform*1 ＋ Commercial*2 = ＋ costs = P&L (Core) P&L (IFRS) (YoY) (YoY) (YoY) (
Slide 11: Breakdown of 1-3Q financial results: progress vs forecast
HIGHLIGHTS RESULTS JP/APAC R&D OUTLOOK Breakdown of 1-3Q financial results (FY2026) Both sales and cost is inline with full-year forecast announced at the beginning of the fiscal year Consolidated Consolidated (JPY million) Platform*1 ＋ Commercial*2 = ＋Non-core costs = P&L (Core) P&L (IFRS) (Progres
Slide 12: Japan/APAC Commercial
HIGHLIGHTS RESULTS JP/APAC R&D OUTLOOK Japan/APAC Commercial Toshi Maeda, COO and President of Nxera Pharma Japan 03
Slide 13: Japan products: ¥14.4bn in nine months; PIVLAZ +10%, QUVIVIQ +43%
HIGHLIGHTS RESULTS JP/APAC R&D OUTLOOK Japan products: ¥14.4bn in nine months; PIVLAZ® +10%, QUVIVIQ® +43% Commercial Peak sales potential*: PIVLAZ® ¥15–16bn, QUVIVIQ® ¥15–20bn PIVLAZ® QUVIVIQ® (JPY M) (JPY M) +5% +7% +30% 16,000 +14% 90% 13,800-14,200 14,000 +47%* 13,511 5,000-6,000 80% 12,651 +224
Slide 14: AGAMREE (vamorolone): Japan filing 2027, launch 2028
HIGHLIGHTS RESULTS JP/APAC R&D OUTLOOK Jan AGAMREE® (vamorolone): Japan filing 2027, launch 2028 in-licensed Commercial Peak sales potential ¥10–20bn*; no extra trials needed in Japan or Korea PRODUCT OVERVIEW DEVELOPMENT TIMELINE (DMD) PARTNERS' US/EU FORECAST N. America (Angelini) Europe (Santhera
Slide 15: Lucerastat: Global Phase 3 oral Fabry therapy in-licensed
HIGHLIGHTS RESULTS JP/APAC R&D OUTLOOK Oct Lucerastat: Global Phase 3 oral Fabry therapy in-licensed Commercial NDA is expected as early as 2029 globally, with a market launch in Japan planned for the early 2030s. KEY DEAL TERMS STRATEGIC RATIONALE Ph 3 Asset Lucerastat: oral glucosylceramide syntha
Slide 16: Fabry disease: about half of diagnosed patients in Japan are untreated
HIGHLIGHTS RESULTS JP/APAC R&D OUTLOOK Fabry disease: about half of diagnosed patients in Japan are untreated Commercial In addition to switching from ERT, widespread adoption among untreated patients is expected due to oral availability FABRY DISEASE TREATMENT OPTIONS JAPAN TREATMENT MIX • Inherite
Slide 17: UK R&D
HIGHLIGHTS RESULTS JP/APAC R&D OUTLOOK UK R&D Patrik Foerch, CSO and President of Nxera Pharma UK 04
Slide 18: Our UK science in partners' hands: seven molecules in the clinic, two in Phase 3
HIGHLIGHTS RESULTS JP/APAC R&D OUTLOOK Our UK science in partners’ hands: seven molecules in the clinic, two in Phase 3 Platform 2026 PARTNER NxWAVE® ORIGINATED PROGRAMS HEADLINE VALUE NEXT CATALYST MILESTONES Muscarinic agonists Phase 3: Direclidine, schizophrenia Direclidine Phase 2: Direclidine,
Slide 19: Orexin: a validated class, now with Lilly, and we share in all three molecules
HIGHLIGHTS RESULTS JP/APAC R&D OUTLOOK Orexin: a validated class, now with Lilly, and we share in all three molecules Platform THREE MOLECULES ADVANCING LILLY’S COMMITMENT • Acquired Centessa for ~US$6.3bn plus up to US$1.5bn in ORX750 (cleminorexton) Phase 2/3 additional payments tied to approvals
Slide 20: Why it keeps happening: GPCR data no one else has, and discovery twice as fast
HIGHLIGHTS RESULTS JP/APAC R&D OUTLOOK Why it keeps happening: GPCR data no one else has, and discovery twice as fast Platform GPCRs are still the most successful drug class, accounting for a third of approved medicines. We have mapped 527 GPCR structures over the past 20 years. DATA NO ONE ELSE HAS
Slide 21: NxAQ: AI built on our data suggests, physics checks, chemists decide
HIGHLIGHTS RESULTS JP/APAC R&D OUTLOOK NxAQ®: AI build on our data suggests, physics checks, chemists decide Platform NXERA-OWNED DATA 1 2 3 4 5 DATA PACKAGE AI DESIGNS & RANKS PHYSICS CHECKS CHEMIST DECIDES MAKE AND TEST 527 GPCR structures 30,000 stabilizing mutations Extensive dataset for Models
Slide 22: Next wave: oral programs on proven targets
HIGHLIGHTS RESULTS JP/APAC R&D OUTLOOK Next wave: oral programs on proven targets Platform OBESITY OBESITY (NEXT GENERATION) GRAVES / THYROID EYE DISEASE HYPOPARATHYROIDISM Amylin agonist | Market ~US$20bn (2030) Multiple targets | Market ~US$200bn TSHR NAM | Market ~US$5.5bn (2030) PTH1R agonist |
Slide 23: The road ahead: building value to 2030
HIGHLIGHTS RESULTS JP/APAC R&D OUTLOOK The road ahead: building value to 2030 Christopher Cargill, President and CEO 05
Slide 24: How it fits: Japan's profits fund UK discovery; partners pay for what we discover
HIGHLIGHTS RESULTS JP/APAC R&D OUTLOOK How it fits: Japan's profits fund UK discovery; partners pay for what we discover Each business funds, de-risks and accelerates the others DATA LOOP every program makes the next smarter and faster PARTNER · GLOBAL DISCOVER DEVELOP Global rights: upfronts, miles
Slide 25: Path to 2030: ¥50bn+ revenue and an operating margin above 30%
HIGHLIGHTS RESULTS JP/APAC R&D OUTLOOK Path to 2030: ¥50bn+ revenue and an operating margin above 30% From ¥28.8bn of revenue in FY2024, with four drivers of growth and four of margin REVENUE GROWTH MARGIN EXPANSION Grow what we sell Lean commercial model ¥50bn+ PIVLAZ® is standard of care; QUVIVIQ®
Slide 26: What you can hold us to: catalysts to the end of 2027
HIGHLIGHTS RESULTS JP/APAC R&D OUTLOOK What you can hold us to: catalysts to the end of 2027 The three events that matter most, and the full list we will report against H2 2027 H2 2027 H2 2027 Platform Platform Commercial Direclidine Phase 3 data ORX750 Phase2/3 data AGAMREE® Japan filing Partnered
Slide 27: Nxera
aA 2 Nxera:™
Slide 28: Thank you
Thank you BREAKTHROUGHS IN PROGRESS ● BREAKTHROUGHS IN PROGRESS ● BREAKTHROUGHS IN PROGRESS
Slide 29: Appendix
APPENDIX Appendix 29
Slide 30: Original FY2026 guidance (February 2026)
APPENDIX Original FY2026 guidance (February 2026) As of the February 2026 announcement Consolidated Consolidated (JPY million) Platform*1 ＋ Commercial*2 = P&L (Core) ＋Non-core costs = P&L (IFRS) （YoY） （YoY） （YoY） （YoY） Revenue 14,300 +40% 19,500 +0% 33,800 +14% Total : 7,100 33,800 +14% Cost of Sale
Slide 31: Major pipeline overview
APPENDIX Major pipeline overview Discovery – Preclinical Phase 1 Phase 2 Phase 3 Filed Commercial Vamorolone In-licensed PIVLAZ® Duchenne muscular dystrophy Cerebral vasospasm Commercial Lucerastat In-licensed QUVIVIQ® Fabry disease Insomnia Develop in-house to a certain stage to Best-in-class GPR52
Slide 32: QUVIVIQ in Japan, and options from global data
APPENDIX QUVIVIQ® in Japan, and options from global data Commercial Gaining share in Japan, with new options from global data JAPAN MOMENTUM GLOBAL EVIDENCE NXERA ACTIVITIES • Daytime functioning: improved IDSIQ • Japan: Shionogi leads commercialization of Japan DORA insomnia market ¥83bn (2025) sle
Slide 33: Lucerastat six years of clinical data
APPENDIX Lucerastat six years of clinical data Commercial A randomized Phase 3 study and its extension: Gb3 lowered, and well tolerated over the long term MODIFY: RANDOMIZED PHASE 3, THEN OPEN-LABEL EXTENSION PLASMA GB3: LUCERASTAT VS PLACEBO SCREENING DOUBLE-BLIND OPEN-LABEL EXTENSION: ALL PATIENTS
Slide 34: Lucerastat kidney function and the path to registration
APPENDIX Lucerastat kidney function and the path to registration Commercial Long-term data suggest kidney function loss slowed by about half KIDNEY FUNCTION (eGFR) DECLINE: 2 YEARS BEFORE MODIFY VS ON LUCERASTAT KIDNEY BIOPSY SUB-STUDY All patients (n=93) Classic males (n=43) eGFR <90 (n=30) Anti-ER
Slide 35: 2026 milestones, from NxWave generated molecules
APPENDIX 2026 milestones, from NxWave® generated molecules Platform ✓ ：Completed in Q3 STAGE PARTNER MILESTONE EVENT VALUE TIMING Multi-target collaboration in neurological diseases US$10M + US$10M Apr & Jun ’26 Third and Fourth development milestones Multi-target collaboration in diabetes and metab
Slide 36: Orexin portfolio, what Centessa forecast on its own
APPENDIX Orexin portfolio, what Centessa forecast on its own Platform Pre-acquisition, risk-adjusted forecast published in November 2025, before Lilly’s acquisition CENTESSA’S PIPELINE (ORX750 / ORX142 / ORX489) PRE-ACQUISITION RISK-ADJUSTED LONG-TERM REVENUE Positioned to be Potential Best-in-Class
Slide 37: NXE'744, an EP4 agonist for Inflammatory Bowel Disease
APPENDIX NXE’744, an EP4 agonist for Inflammatory Bowel Disease Platform A first-in-class GI-targeted agent to promote mucosal healing in IBD EP4 AGONIST OFFERS A DIFFERENTIATED MOA TO CURRENT SOC ALL ELEMENTS OF THE FIRST-IN-HUMAN STUDY HAVE NOW Modulation of barrier homeostasis and inflammatory ax
Slide 38: NXE'149, a GPR52 agonist for schizophrenia
APPENDIX NXE’149, a GPR52 agonist for schizophrenia Platform A novel first-in-class mechanism to treat positive, negative & cognitive domains of schizophrenia PHASE 1 HIGHLIGHTS PHASE 2 ENABLEMENT ✓ Safe and well tolerated • 3 month GLP toxicology in 2 species ✓ Human PK showed low variability and c
Slide 39: NXE'732, an EP4 antagonist immunotherapy for solid tumors
APPENDIX NXE’732, an EP4 antagonist is our novel immunotherapy for solid tumors Platform Phase 2a expansion in process in combination with atezolizumab DISEASE RATIONALE PHASE 1 TRIAL RESULTS • When EP4 is activated, it • The emerging data for NXE-732 points to a potential best-in-class profile damp
Slide 40: 2026 commitments and catalysts
APPENDIX 2026 commitments and catalysts ✓ Delivered • In progress → Re-timed PROGRAM / COMMITMENT PARTNER TIMING STATUS AND DETAIL EVENT VALUE PLATFORM ✓ ORX142 (OX2 agonist) Jan 2026 Phase 2 study start US$3.6M ✓ ORX489 (OX2 agonist) Mar 2026 Phase 1 study start US$3M ✓ ORX750 (OX2 agonist) Sep 202
Slide 41: Locations
Locations Midtown East, F17, 410 Teheran- Steinmetz Building Burleigh-on-the-Strand Office 26.01 9-7-2 Akasaka Ro Granta Park, 355-359 Strand Flexoffice Messeturm London 26th Floor Minato-ku GangNam-Gu Cambridge Messeplatz 10 Tokyo 107-0052 Seoul 06192 WC2R 0HS CB21 6DG CH-4058 Basel Japan South Kor