New Risk • Apr 27
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Japanese stocks, typically moving 6.9% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 18% per year over the past 5 years. Revenue is less than US$1m. Minor Risks Share price has been volatile over the past 3 months (6.9% average weekly change). Shareholders have been diluted in the past year (22% increase in shares outstanding). Market cap is less than US$100m (JP¥4.84b market cap, or US$30.4m). Announcement • Feb 12
Modalis Therapeutics Corporation, Annual General Meeting, Mar 26, 2026 Modalis Therapeutics Corporation, Annual General Meeting, Mar 26, 2026. New Risk • Jan 07
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Japanese stocks, typically moving 5.4% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 20% per year over the past 5 years. Revenue is less than US$1m. Minor Risks Share price has been volatile over the past 3 months (5.4% average weekly change). Shareholders have been diluted in the past year (21% increase in shares outstanding). Market cap is less than US$100m (JP¥4.87b market cap, or US$31.1m). Announcement • Dec 03
Modalis Therapeutics Corporation to Report Fiscal Year 2025 Results on Feb 12, 2026 Modalis Therapeutics Corporation announced that they will report fiscal year 2025 results on Feb 12, 2026 Announcement • Oct 01
Modalis Therapeutics Corporation to Report Q3, 2025 Results on Nov 07, 2025 Modalis Therapeutics Corporation announced that they will report Q3, 2025 results on Nov 07, 2025 Announcement • Aug 25
Modalis Therapeutics Corporation announced that it has received ¥3.072 million in funding from Evolution Capital Management LLC On August 25, 2025, Modalis Therapeutics Corporation closed the transaction. The exercise price will be of ¥91 and exercise period is from August 26, 2025 to April 27, 2026. The transaction includes participation from returning investor, Evo Fund, a fund managed by Evolution Capital Management LLC. Announcement • Jun 27
Modalis Therapeutics Corporation to Report Q2, 2025 Results on Aug 07, 2025 Modalis Therapeutics Corporation announced that they will report Q2, 2025 results on Aug 07, 2025 New Risk • Jun 09
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Japanese stocks, typically moving 14% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (14% average weekly change). Earnings have declined by 26% per year over the past 5 years. Shareholders have been substantially diluted in the past year (104% increase in shares outstanding). Revenue is less than US$1m. Minor Risk Market cap is less than US$100m (JP¥7.94b market cap, or US$55.1m). Announcement • Apr 08
Modalis Therapeutics Corporation to Report Q1, 2025 Results on May 08, 2025 Modalis Therapeutics Corporation announced that they will report Q1, 2025 results on May 08, 2025 Announcement • Feb 13
Modalis Therapeutics Corporation, Annual General Meeting, Mar 27, 2025 Modalis Therapeutics Corporation, Annual General Meeting, Mar 27, 2025. Announcement • Jan 03
Modalis Therapeutics Corporation to Report Fiscal Year 2024 Results on Feb 13, 2025 Modalis Therapeutics Corporation announced that they will report fiscal year 2024 results on Feb 13, 2025 Announcement • Sep 28
Modalis Therapeutics Corporation to Report Q3, 2024 Results on Nov 07, 2024 Modalis Therapeutics Corporation announced that they will report Q3, 2024 results on Nov 07, 2024 New Risk • Sep 14
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 57% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (25% average weekly change). Earnings have declined by 48% per year over the past 5 years. Shareholders have been substantially diluted in the past year (57% increase in shares outstanding). Revenue is less than US$1m. Minor Risk Market cap is less than US$100m (JP¥4.56b market cap, or US$32.4m). New Risk • Jul 24
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Japanese stocks, typically moving 13% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-JP¥2.3b free cash flow). Share price has been highly volatile over the past 3 months (13% average weekly change). Earnings have declined by 54% per year over the past 5 years. Revenue is less than US$1m. Minor Risks Shareholders have been diluted in the past year (25% increase in shares outstanding). Market cap is less than US$100m (JP¥4.02b market cap, or US$26.0m). Announcement • Jun 30
Modalis Therapeutics Corporation to Report Q2, 2024 Results on Aug 07, 2024 Modalis Therapeutics Corporation announced that they will report Q2, 2024 results on Aug 07, 2024 Announcement • May 08
Modalis Therapeutics Reports Data Supporting Development of a Transformative Epigenome Editing Therapeutic, MDL-101 Modalis Therapeutics Corporation posted the preprint paper titled "Efficient and durable gene activation by Cas9-mediated epigenome editing in vivo" on bioRxiv. The company reported data demonstrating exceptional durability, robust efficacy and safety in dyW mouse disease model of LAMA2-CMD and in adult and juvenile NHPs. LAMA2-CMD is a severe, early onset congenital muscular dystrophy caused by the absence of the LAMA2 protein. Despite significant advances in gene therapy and the approval of about a dozen therapies, the size of the disease-causing gene of LAMA2-CMD, which exceeds 3,000 amino acids, hinders the conventional gene therapy approach using AAV vectors to deliver the healthy version of the mutated gene. No approved therapies to address the root cause of this condition exist or are in clinical trials. Modalis' proprietary CRISPR-GNDM, is capable of specific modulation of the expression of disease-relevant genes, without introducing double-strand DNA breaks, and the company's MDL-101 is potentially the first-in-class therapeutics to solve the challenge and provide life-changing therapeutics for the patients of LAMA2-CMD. Announcement • Mar 02
Modalis Therapeutics Corporation to Report Q1, 2024 Results on May 08, 2024 Modalis Therapeutics Corporation announced that they will report Q1, 2024 results on May 08, 2024 New Risk • Feb 17
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -JP¥2.3b This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-JP¥2.3b free cash flow). Share price has been highly volatile over the past 3 months (8.9% average weekly change). Earnings have declined by 51% per year over the past 5 years. Revenue is less than US$1m. Minor Risks Shareholders have been diluted in the past year (14% increase in shares outstanding). Market cap is less than US$100m (JP¥3.20b market cap, or US$21.3m). Announcement • Feb 16
Modalis Therapeutics Corporation, Annual General Meeting, Mar 26, 2024 Modalis Therapeutics Corporation, Annual General Meeting, Mar 26, 2024. Announcement • Dec 05
Modalis Therapeutics Corporation to Report Fiscal Year 2023 Results on Feb 14, 2024 Modalis Therapeutics Corporation announced that they will report fiscal year 2023 results on Feb 14, 2024 Announcement • Nov 09
Modalis Therapeutics Corporation announced that it expects to receive ¥505.320864 million in funding from Evolution Capital Management LLC Modalis Therapeutics Corporation announced a private placement to issue 78,248 units 12 stock acquisition rights ¥68 per rights for the gross proceeds of ¥5,320,864 and 1st series of unsecured convertible bonds with stock acquisition rights for the gross proceeds of ¥500,000,000; aggregate gross proceeds of ¥505,320,864 on November 7, 2023. The transaction will include participation from new investor Evo Fund, a fund managed by Evolution Capital Management LLC. The transaction has been approved by the shareholders of the company and is expected to close on November 30, 2023. The bonds bear zero coupon rate and matures on December 1, 2025. The bonds are convertible into initial conversion price of ¥136 per share. The rights can be exercised from December 1, 2023 to December 1, 2025 and minimum exercise price is ¥68. New Risk • Nov 08
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -JP¥2.3b This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-JP¥2.3b free cash flow). Share price has been highly volatile over the past 3 months (9.6% average weekly change). Earnings have declined by 56% per year over the past 5 years. Revenue is less than US$1m. Minor Risks Shareholders have been diluted in the past year (8.4% increase in shares outstanding). Market cap is less than US$100m (JP¥4.07b market cap, or US$27.0m). Announcement • Sep 13
Modalis Therapeutics Corporation announced that it expects to receive ¥18.77952 million in funding from China Silver Asset Management Hong Kong Limited Modalis Therapeutics Corporation announced a private placement it will issue 78,248 12th stock acquisition rights at a price of ¥240 per share of gross proceeds for ¥18,779,520 on September 11, 2023. The transaction included the participation from new investor CS Asia Opportunities Master Fund, a fund managed by China Silver Asset Management Hong Kong Limited issue 11,158,133 shares and owns 26.13% stake. The securities issued through third party allotment. The company held that the transaction was approved at a meeting of the Company's Board of Directors. The transaction is expected to closing on September 27, 2023. New Risk • Sep 12
New major risk - Revenue and earnings growth Earnings have declined by 60% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-JP¥2.3b free cash flow). Share price has been highly volatile over the past 3 months (13% average weekly change). Earnings have declined by 60% per year over the past 5 years. Revenue is less than US$1m. Minor Risks Shareholders have been diluted in the past year (8.4% increase in shares outstanding). Market cap is less than US$100m (JP¥4.74b market cap, or US$32.3m). Announcement • Aug 27
Modalis Therapeutics Corporation to Report Q3, 2023 Results on Nov 07, 2023 Modalis Therapeutics Corporation announced that they will report Q3, 2023 results on Nov 07, 2023 New Risk • Aug 10
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -JP¥2.3b This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-JP¥2.3b free cash flow). Share price has been highly volatile over the past 3 months (12% average weekly change). Revenue is less than US$1m. Minor Risks Currently unprofitable and not forecast to become profitable over next 2 years (JP¥297m net loss in 2 years). Shareholders have been diluted in the past year (8.4% increase in shares outstanding). Market cap is less than US$100m (JP¥4.48b market cap, or US$31.1m). Announcement • May 28
Modalis Therapeutics Corporation to Report Q2, 2023 Results on Aug 07, 2023 Modalis Therapeutics Corporation announced that they will report Q2, 2023 results on Aug 07, 2023 Breakeven Date Change • Feb 15
Forecast breakeven date moved forward to 2023 The analyst covering Modalis Therapeutics previously expected the company to break even in 2024. New forecast suggests the company will make a profit of JP¥737.8m in 2023. Earnings growth of 122% is required to achieve expected profit on schedule. Announcement • Feb 13
Modalis Therapeutics Corporation, Annual General Meeting, Mar 28, 2023 Modalis Therapeutics Corporation, Annual General Meeting, Mar 28, 2023. Price Target Changed • Dec 16
Price target decreased to JP¥1,150 Down from JP¥1,350, the current price target is provided by 1 analyst. New target price is 253% above last closing price of JP¥326. Stock is down 50% over the past year. The company is forecast to post a net loss per share of JP¥32.68 next year compared to a net loss per share of JP¥25.67 last year. Announcement • Dec 06
Modalis Therapeutics Corporation to Report Fiscal Year 2022 Results on Feb 13, 2023 Modalis Therapeutics Corporation announced that they will report fiscal year 2022 results on Feb 13, 2023 Board Change • Nov 16
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 6 experienced directors. No highly experienced directors. was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Announcement • Aug 28
Modalis Therapeutics Corporation to Report Q3, 2022 Results on Nov 07, 2022 Modalis Therapeutics Corporation announced that they will report Q3, 2022 results on Nov 07, 2022 Price Target Changed • Aug 04
Price target increased to JP¥1,450 Up from JP¥1,225, the current price target is an average from 2 analysts. New target price is 196% above last closing price of JP¥490. Stock is down 62% over the past year. The company is forecast to post earnings per share of JP¥14.74 next year compared to a net loss per share of JP¥25.67 last year. Announcement • May 30
Modalis Therapeutics Corporation to Report Q2, 2022 Results on Aug 05, 2022 Modalis Therapeutics Corporation announced that they will report Q2, 2022 results on Aug 05, 2022 Price Target Changed • Apr 27
Price target decreased to JP¥1,250 Down from JP¥2,500, the current price target is an average from 3 analysts. New target price is 279% above last closing price of JP¥330. Stock is down 82% over the past year. The company is forecast to post a net loss per share of JP¥4.42 next year compared to a net loss per share of JP¥25.67 last year. Board Change • Apr 27
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 6 experienced directors. No highly experienced directors. was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Announcement • Apr 08
Modalis Therapeutics Corporation to Report Q1, 2022 Results on May 09, 2022 Modalis Therapeutics Corporation announced that they will report Q1, 2022 results on May 09, 2022 Price Target Changed • Feb 27
Price target decreased to JP¥1,250 Down from JP¥2,500, the current price target is an average from 2 analysts. New target price is 289% above last closing price of JP¥321. Stock is down 86% over the past year. The company is forecast to post earnings per share of JP¥31.34 next year compared to a net loss per share of JP¥25.70 last year. Reported Earnings • Feb 16
Full year 2021 earnings: EPS and revenues miss analyst expectations Full year 2021 results: JP¥25.67 loss per share (down from JP¥17.00 loss in FY 2020). Net loss: JP¥738.0m (loss widened 65% from FY 2020). Revenue missed analyst estimates by 100%. Earnings per share (EPS) were also behind analyst expectations. Over the next year, revenue is forecast to grow 178,233%, compared to a 1,669% growth forecast for the pharmaceuticals industry in Japan. Announcement • Feb 15
Modalis Therapeutics Corporation, Annual General Meeting, Mar 29, 2022 Modalis Therapeutics Corporation, Annual General Meeting, Mar 29, 2022. Price Target Changed • Feb 03
Price target decreased to JP¥2,500 Down from JP¥3,600, the current price target is an average from 3 analysts. New target price is 541% above last closing price of JP¥390. Stock is down 84% over the past year. The company is forecast to post earnings per share of JP¥19.58 next year compared to a net loss per share of JP¥17.00 last year. Board Change • Dec 15
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 6 experienced directors. No highly experienced directors. was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Reported Earnings • Apr 06
Full year 2020 earnings released: JP¥17.02 loss per share (vs JP¥5.94 profit in FY 2019) Full year 2020 results: Net loss: JP¥448.4m (down 420% from profit in FY 2019). Executive Departure • Apr 03
Scientific Founder & Outside Independent Director Osamu Nureki has left the company On the 30th of March, Osamu Nureki's tenure in the role of Scientific Founder & Outside Independent Director ended. As of December 2020, Osamu personally held 4.35m shares (JP¥9.6b worth at the time). Osamu is the only executive to leave the company over the last 12 months. Announcement • Mar 13
Modalis Therapeutics Corporation Announces the Retirement of Osamu Nureki as Director, Effective March 30, 2021 Modalis Therapeutics Corporation announced that at the conclusion of the Ordinary General Meeting of Shareholders scheduled to be held on March 30, 2021, Dr. Osamu Nureki, Outside Director will retire from his position. Reported Earnings • Feb 14
Full year 2020 earnings released: JP¥17.02 loss per share (vs JP¥5.94 profit in FY 2019) Full year 2020 results: Net loss: JP¥448.4m (down 420% from profit in FY 2019). Analyst Estimate Surprise Post Earnings • Feb 14
Revenue beats expectations Revenue exceeded analyst estimates by 0.3%. Earnings per share (EPS) were mostly in line with analyst estimates. Over the next year, revenue is forecast to grow 286%, compared to a 444% growth forecast for the Biotechs industry in Japan. Announcement • Feb 12
Modalis Therapeutics Corporation, Annual General Meeting, Mar 30, 2021 Modalis Therapeutics Corporation, Annual General Meeting, Mar 30, 2021. Is New 90 Day High Low • Jan 22
New 90-day high: JP¥2,966 The company is up 12% from its price of JP¥2,650 on 23 October 2020. The Japanese market is up 14% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Biotechs industry, which is up 7.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is JP¥279 per share. Announcement • Dec 16
Modalis Therapeutics Corporation Revises Consolidated Financial Results Forecast for the Fiscal Year Ending December 31, 2020 Modalis Therapeutics Corporation revised consolidated Financial Results Forecast for the Fiscal Year Ending December 31, 2020. For the full year the company forecast operating revenue of JPY 342 million compared previous guidance of to JPY 1,100 million or over. Operating income of JPY 420 compared to previous guidance JPY 350 million or more. Profit attributable to owners of parent of JPY 471 compared to previous guidance of JPY 250 or more. Basic earnings per share of JPY 17.89 compared to previous guidance of JPY 9.63 or over. The downward revision is mainly due to the absence of the upfront payment for license of MDL-101, which was projected in the previous financial results forecast. Company have been under discussion with domestic and overseas pharmaceutical companies, including major pharmaceutical companies, but judging from the current progress, the Company has concluded that it will take more time than previously anticipated before gaining the valuable partnership. The Company believes that further negotiations regarding licensing will lead to better conditions and consequently increase corporate value over the mid to long term. The Company aims to secure licensing within 2021. Data from non-human primate studies, which are currently undergoing analysis and expected to be finalized in early 2021, will support negotiations. Consolidated operating income, consolidated ordinary income, and profit attributable to shareholders of the parent have been revised downward due to the decrease in consolidated operating revenue. The Company Group will continue to make concerted efforts to increase corporate value over the medium to long term. Is New 90 Day High Low • Dec 07
New 90-day low: JP¥2,355 The company is down 23% from its price of JP¥3,040 on 08 September 2020. The Japanese market is up 10.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Biotechs industry, which is up 10.0% over the same period. Announcement • Dec 05
Modalis Therapeutics Corporation to Report Fiscal Year 2020 Results on Feb 12, 2021 Modalis Therapeutics Corporation announced that they will report fiscal year 2020 results at 6:00 AM, GMT Standard Time on Feb 12, 2021 Announcement • Sep 25
Modalis Therapeutics Corporation to Report Q3, 2020 Results on Nov 05, 2020 Modalis Therapeutics Corporation announced that they will report Q3, 2020 results on Nov 05, 2020 Announcement • Aug 04
Modalis Therapeutics Corporation has completed an IPO in the amount of ¥3.24 billion. Modalis Therapeutics Corporation has completed an IPO in the amount of ¥3.24 billion.
Security Name: Common Stock
Security Type: Common Stock
Securities Offered: 2,700,000
Price\Range: ¥1200
Discount Per Security: ¥96
Transaction Features: Sponsor Backed Offering 