New Risk • Jun 06
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 Taiwanese stocks, typically moving 12% 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 (-NT$134m free cash flow). Share price has been highly volatile over the past 3 months (12% average weekly change). Earnings have declined by 14% per year over the past 5 years. Minor Risks Revenue is less than US$5m (NT$69m revenue, or US$2.2m). Market cap is less than US$100m (NT$1.18b market cap, or US$37.4m). New Risk • Apr 20
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 Taiwanese stocks, typically moving 11% 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 Less than 1 year of cash runway based on free cash flow trend (-NT$134m free cash flow). Earnings have declined by 14% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (11% average weekly change). Revenue is less than US$5m (NT$69m revenue, or US$2.2m). Market cap is less than US$100m (NT$1.99b market cap, or US$63.2m). Reported Earnings • Apr 09
Full year 2025 earnings released: NT$1.71 loss per share (vs NT$1.02 loss in FY 2024) Full year 2025 results: NT$1.71 loss per share (further deteriorated from NT$1.02 loss in FY 2024). Revenue: NT$69.0m (up 114% from FY 2024). Net loss: NT$184.4m (loss widened 86% from FY 2024). Over the last 3 years on average, earnings per share has fallen by 13% per year whereas the company’s share price has fallen by 11% per year. Announcement • Mar 10
InnoPharmax Inc., Annual General Meeting, May 29, 2026 InnoPharmax Inc., Annual General Meeting, May 29, 2026. Location: 4 floor no,207, t`i ting ta tao, neihu district, taipei city Taiwan New Risk • Mar 01
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2025. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 9.6% per year over the past 5 years. Minor Risks Latest financial reports are more than 6 months old (reported June 2025 fiscal period end). Share price has been volatile over the past 3 months (7.9% average weekly change). Revenue is less than US$5m (NT$56m revenue, or US$1.8m). Market cap is less than US$100m (NT$1.65b market cap, or US$52.6m). New Risk • Sep 27
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 Taiwanese stocks, typically moving 8.3% 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 (8.3% average weekly change). Earnings have declined by 9.6% per year over the past 5 years. Minor Risks Revenue is less than US$5m (NT$56m revenue, or US$1.8m). Market cap is less than US$100m (NT$2.16b market cap, or US$70.8m). Reported Earnings • Apr 18
Full year 2024 earnings released: NT$1.02 loss per share (vs NT$0.77 loss in FY 2023) Full year 2024 results: NT$1.02 loss per share (further deteriorated from NT$0.77 loss in FY 2023). Net loss: NT$99.3m (loss widened 40% from FY 2023). Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. New Risk • Apr 18
New major risk - Revenue size The company makes less than US$1m in revenue. Total revenue: NT$32m (US$990k) This is considered a major risk. Companies with a small amount of revenue are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 6.7% per year over the past 5 years. Revenue is less than US$1m (NT$32m revenue, or US$990k). Minor Risks Share price has been volatile over the past 3 months (8.9% average weekly change). Market cap is less than US$100m (NT$1.50b market cap, or US$45.9m). New Risk • Apr 10
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 Taiwanese stocks, typically moving 8.0% 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 Risk Earnings have declined by 3.6% per year over the past 5 years. Minor Risks Latest financial reports are more than 6 months old (reported June 2024 fiscal period end). Share price has been volatile over the past 3 months (8.0% average weekly change). Revenue is less than US$5m (NT$35m revenue, or US$1.1m). Market cap is less than US$100m (NT$1.34b market cap, or US$40.7m). Announcement • Mar 04
InnoPharmax Inc., Annual General Meeting, May 29, 2025 InnoPharmax Inc., Annual General Meeting, May 29, 2025. Location: 4 floor no,207, t`i ting ta tao, neihu district, taipei city Taiwan New Risk • Feb 28
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2024. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 3.6% per year over the past 5 years. Minor Risks Latest financial reports are more than 6 months old (reported June 2024 fiscal period end). Revenue is less than US$5m (NT$35m revenue, or US$1.1m). Market cap is less than US$100m (NT$1.45b market cap, or US$43.9m). New Risk • Jul 18
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 Taiwanese stocks, typically moving 8.8% 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 (8.8% average weekly change). Earnings have declined by 2.6% per year over the past 5 years. Minor Risks Revenue is less than US$5m (NT$46m revenue, or US$1.4m). Market cap is less than US$100m (NT$2.67b market cap, or US$81.8m). New Risk • Jun 03
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 Taiwanese stocks, typically moving 7.1% 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 Risk Earnings have declined by 2.6% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (7.1% average weekly change). Shareholders have been diluted in the past year (9.4% increase in shares outstanding). Revenue is less than US$5m (NT$46m revenue, or US$1.4m). Market cap is less than US$100m (NT$1.81b market cap, or US$56.0m). Reported Earnings • Apr 20
Full year 2023 earnings released: NT$0.77 loss per share (vs NT$1.19 loss in FY 2022) Full year 2023 results: NT$0.77 loss per share (improved from NT$1.19 loss in FY 2022). Revenue: NT$46.1m (up 58% from FY 2022). Net loss: NT$70.8m (loss narrowed 31% from FY 2022). Over the last 3 years on average, earnings per share has fallen by 8% per year whereas the company’s share price has fallen by 3% per year. New Risk • Feb 27
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Minor Risks Latest financial reports are more than 6 months old (reported June 2023 fiscal period end). Share price has been volatile over the past 3 months (5.7% average weekly change). Shareholders have been diluted in the past year (9.4% increase in shares outstanding). Revenue is less than US$5m (NT$49m revenue, or US$1.6m). Market cap is less than US$100m (NT$1.61b market cap, or US$51.1m). Reported Earnings • Aug 16
First half 2023 earnings released: NT$0.33 loss per share (vs NT$0.56 loss in 1H 2022) First half 2023 results: NT$0.33 loss per share (improved from NT$0.56 loss in 1H 2022). Revenue: NT$34.6m (up 136% from 1H 2022). Net loss: NT$29.9m (loss narrowed 39% from 1H 2022). Over the last 3 years on average, earnings per share has fallen by 17% per year but the company’s share price has only fallen by 9% per year, which means it has not declined as severely as earnings. New Risk • Jun 12
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 9.4% This is considered a minor 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 Less than 1 year of cash runway based on free cash flow trend (-NT$100m free cash flow). Revenue is less than US$1m (NT$29m revenue, or US$946k). Minor Risks Share price has been volatile over the past 3 months (7.0% average weekly change). Shareholders have been diluted in the past year (9.4% increase in shares outstanding). Market cap is less than US$100m (NT$1.77b market cap, or US$57.4m). Reported Earnings • Mar 09
Full year 2022 earnings released: NT$1.19 loss per share (vs NT$1.08 loss in FY 2021) Full year 2022 results: NT$1.19 loss per share (further deteriorated from NT$1.08 loss in FY 2021). Net loss: NT$103.2m (loss widened 11% from FY 2021). Over the last 3 years on average, earnings per share has fallen by 9% per year but the company’s share price has increased by 20% per year, which means it is well ahead of earnings. Reported Earnings • Aug 16
First half 2022 earnings released: NT$0.56 loss per share (vs NT$0.48 loss in 1H 2021) First half 2022 results: NT$0.56 loss per share (down from NT$0.48 loss in 1H 2021). Net loss: NT$48.9m (loss widened 18% from 1H 2021). Over the last 3 years on average, earnings per share has increased by 5% per year whereas the company’s share price has increased by 4% per year. Reported Earnings • Apr 14
Full year 2021 earnings released: NT$1.08 loss per share (vs NT$0.57 loss in FY 2020) Full year 2021 results: NT$1.08 loss per share (down from NT$0.57 loss in FY 2020). Revenue: NT$48.1m (down 65% from FY 2020). Net loss: NT$93.0m (loss widened 112% from FY 2020). Over the last 3 years on average, earnings per share has increased by 17% per year whereas the company’s share price has increased by 21% per year. Reported Earnings • Apr 14
Full year 2020 earnings released: NT$0.57 loss per share (vs NT$1.24 loss in FY 2019) The company reported a solid full year result with reduced losses, improved revenues and improved control over expenses. Full year 2020 results: Revenue: NT$136.9m (up 61% from FY 2019). Net loss: NT$43.9m (loss narrowed 50% from FY 2019). Over the last 3 years on average, earnings per share has increased by 38% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Is New 90 Day High Low • Mar 13
New 90-day high: NT$19.05 The company is up 8.0% from its price of NT$17.70 on 11 December 2020. The Taiwanese market is up 14% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Pharmaceuticals industry, which is up 3.0% over the same period. Announcement • Mar 11
InnoPharmax Inc., Annual General Meeting, May 27, 2021 InnoPharmax Inc., Annual General Meeting, May 27, 2021. Is New 90 Day High Low • Feb 04
New 90-day low: NT$14.55 The company is down 18% from its price of NT$17.65 on 06 November 2020. The Taiwanese market is up 21% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Pharmaceuticals industry, which is down 17% over the same period. Is New 90 Day High Low • Jan 06
New 90-day low: NT$16.55 The company is down 28% from its price of NT$22.95 on 08 October 2020. The Taiwanese market is up 17% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Pharmaceuticals industry, which is down 14% over the same period. Is New 90 Day High Low • Nov 28
New 90-day low: NT$17.05 The company is down 29% from its price of NT$24.05 on 28 August 2020. The Taiwanese market is up 8.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Pharmaceuticals industry, which is down 9.0% over the same period. Is New 90 Day High Low • Nov 04
New 90-day low: NT$17.50 The company is down 45% from its price of NT$31.60 on 06 August 2020. The Taiwanese market is down 1.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Pharmaceuticals industry, which is down 4.0% over the same period. Is New 90 Day High Low • Oct 12
New 90-day low: NT$22.00 The company is down 27% from its price of NT$30.25 on 14 July 2020. The Taiwanese market is up 4.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Pharmaceuticals industry, which is down 16% over the same period. Is New 90 Day High Low • Sep 22
New 90-day low: NT$22.80 The company is down 3.0% from its price of NT$23.40 on 24 June 2020. The Taiwanese market is up 10.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Pharmaceuticals industry, which is up 5.0% over the same period.