Reported Earnings • Apr 06
Full year 2025 earnings released: NT$3.81 loss per share (vs NT$3.81 loss in FY 2024) Full year 2025 results: NT$3.81 loss per share. Net loss: NT$357.9m (loss widened 1.1% from FY 2024). Announcement • Mar 20
AnnJi Pharmaceutical Co., Ltd., Annual General Meeting, Jun 23, 2026 AnnJi Pharmaceutical Co., Ltd., Annual General Meeting, Jun 23, 2026. Location: 1 floor no,508, sec.7 chung hsiao e. rd., taipei city Taiwan New Risk • Mar 02
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 Risks Earnings have declined by 14% per year over the past 5 years. Revenue is less than US$1m (NT$24m revenue, or US$758k). 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 (7.6% average weekly change). New Risk • Dec 16
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 7.7% 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 14% per year over the past 5 years. Revenue is less than US$1m (NT$24m revenue, or US$759k). Minor Risk Share price has been volatile over the past 3 months (7.7% average weekly change). Announcement • Oct 23
Annji Pharmaceutical Co., Ltd. Announces U.S. Food & Drug Administration Grants Fast Track Designation for AJ201 AnnJi Pharmaceutical Co., Ltd. announced that the U.S. Food & Drug Administration (FDA) has granted Fast Track Designation for AJ201, the first-in-class for therapy for spinal and bulbar muscular atrophy (SBMA, also known as Kennedy's disease). SBMA, or Kennedy's disease, is a rare X-linked inherited neuromuscular disorder caused by CAG repeat expansion in the androgen receptor (AR) gene. The resulting mutant AR protein contributes to muscle and neuron degeneration through mechanisms involving cellular toxicity, oxidative stress, and neuroinflammation. SBMA affects ~1 in 40,000 males globally and currently has no FDA-approved treatment. AJ201, also known as JM17, is a novel investigational compound that has shown potential in reducing mutant AR toxicity and improving motor function in preclinical SBMA models. At the molecular level, it promotes degradation of pathogenic mAR protein, induces expression of antioxidant enzymes, proteasome subunits, and heat shock proteins, all of which may slow disease progression (Bott et al., 2016). New Risk • Aug 19
New major risk - Revenue size The company makes less than US$1m in revenue. Total revenue: NT$24m (US$792k) 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 14% per year over the past 5 years. Revenue is less than US$1m (NT$24m revenue, or US$792k). Minor Risk Share price has been volatile over the past 3 months (7.2% average weekly change). Announcement • May 22
Annji Pharmaceutical Company Announces Positive Phase 1/2A Results for Aj201 in Spinal and Bulbar Muscular Atrophy (Sbma) Patients AnnJi Pharmaceutical Co., Ltd. announced positive results from its Phase 1/2a randomized, double-blind, placebo-controlled, first-in-patient clinical trial of AJ201 in adults with Spinal and Bulbar Muscular Atrophy (SBMA). Conducted across six U.S. clinical sites, the study evaluated the safety, tolerability, pharmacokinetics (PK), and pharmacodynamics (PD) of AJ201 (ClinicalTrials.gov Identifier: NCT05517603). While not powered to assess efficacy, exploratory endpoints revealed meaningful treatment-related improvements that support continued clinical development. Safety and Pharmacokinetics: The safety and pharmacokinetic profiles in SBMA patients were consistent with prior healthy volunteer data. AJ201 was generally well tolerated, and no systemic drug accumulation was observed. After 12 weeks of oral treatment, AJ201 recipients showed clinically meaningful improvements in physical and muscle function compared to placebo, including a 17.6-meter gain in the 6-Minute Walk Test (6MWT) and a 0.8-point increase in the SBMA Functional Rating Scale (SBMAFRS) on average, while the placebo group experienced light declines. Biomarker Findings and RNA Sequencing Reveal Mechanistic Support: Mutual androgen receptor (mAR) levels, a proposed biomarker for SBMA, were assessed via muscle biopsies. Nuclear mAR levels were reduced by more than 50% in 53% of AJ201-treated patients, compared to 17% of placebo, indicating potential therapeutic activity. RNA sequencing of muscle biopsies from AJ201-treated patients revealed activation of the Nrf2 pathway, along with modulation of several disease-relevant signaling cascades. These changes, absent in the placebo group, offer support for AJ201's therapeutic mechanism of action. Consistent improvements across functional, biochemical, and molecular markers observed in this study support continued development of AJ201 for SBMA. "The study results are highly encouraging. AJ201 has shown evidence of clinical benefit, demonstrated through improvements in functional assessments, positive shifts in serum biomarkers, and RNA sequencing data supportingactivation of the Nrf2 pathway. Together, these findings reinforce the therapeutic potential of AJ201," said Dr. Christopher Grunseich, Principal Investigator of the study. Dr. Grunseich is a Lasker Clinical Researcholar and Head of the Inherited Neuromuscular Diseases Unit at the National Institute of Neurological disorders and Stroke (NINDS), National Institutes of Health (NIH). Reported Earnings • Mar 26
Full year 2024 earnings released: NT$3.81 loss per share (vs NT$4.25 loss in FY 2023) Full year 2024 results: NT$3.81 loss per share. Revenue: NT$96.4m (down 33% from FY 2023). Net loss: NT$354.0m (loss widened 7.5% from FY 2023). Announcement • Mar 25
AnnJi Pharmaceutical Co., Ltd., Annual General Meeting, Jun 16, 2025 AnnJi Pharmaceutical Co., Ltd., Annual General Meeting, Jun 16, 2025. Location: 1 floor no,465-1, sec.6 chung hsiao e. rd., taipei city Taiwan New Risk • Mar 18
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 6.6% 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: 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 (6.6% average weekly change). Market cap is less than US$100m (NT$2.63b market cap, or US$79.8m). 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: Minor Risks Latest financial reports are more than 6 months old (reported June 2024 fiscal period end). Market cap is less than US$100m (NT$2.81b market cap, or US$85.3m). New Risk • Oct 09
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: NT$3.21b (US$99.5m) This is considered a minor risk. Companies with a small market capitalization 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. This is currently the only risk that has been identified for the company. Reported Earnings • Aug 17
First half 2024 earnings released First half 2024 results: NT$2.13 loss per share. Net loss: NT$196.1m (flat on 1H 2023). Board Change • Jun 26
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 6 non-independent directors. was the last director to join the board, commencing their role in . The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. 