New Risk • Mar 20
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: NT$3.19b (US$99.8m) 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. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 22% per year over the past 5 years. Revenue is less than US$1m (NT$5.5m revenue, or US$172k). Minor Risk Market cap is less than US$100m (NT$3.19b market cap, or US$99.8m). Reported Earnings • Mar 13
Full year 2025 earnings released: NT$3.32 loss per share (vs NT$2.70 loss in FY 2024) Full year 2025 results: NT$3.32 loss per share (further deteriorated from NT$2.70 loss in FY 2024). Net loss: NT$436.5m (loss widened 38% from FY 2024). Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has fallen by 30% per year, which means it is significantly lagging earnings. Announcement • Mar 10
BRIM Biotechnology, Inc., Annual General Meeting, Jun 12, 2026 BRIM Biotechnology, Inc., Annual General Meeting, Jun 12, 2026. Location: no,335, jui kuang rd., neihu district, taipei city Taiwan New Risk • Dec 04
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 15% 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 Earnings have declined by 24% per year over the past 5 years. Revenue is less than US$1m (NT$3.2m revenue, or US$101k). Minor Risk Shareholders have been diluted in the past year (15% increase in shares outstanding). New Risk • Jul 11
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 8.5% 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 (8.5% average weekly change). Earnings have declined by 33% per year over the past 5 years. Revenue is less than US$1m (NT$433k revenue, or US$15k). Announcement • Jun 21
Brim Biotechnology, Inc. Provides Update on the IND Application of Phase I/IIb Clinical Trial of BRM411 in Patients with Glaucoma to TFDA BRIM Biotechnology, Inc. provided Update on the Company's IND application of Phase I/IIb clinical trial of BRM411 in patients with glaucoma to TFDA. 2.New drug name or code: BRM411 3.Indication: Glaucoma (Primary Open Angle Glaucoma; POAG or Ocular Hypertension; OHT) 4.Planned development stages: Phase I/IIb clinical trial and sequential clinical trials 5.Current development stage: (1) Application submission/approval/disapproval/each of clinical trials (include interim analysis): Regarding the IND application of Phase I/IIb clinical trial of BRM411 in patients with glaucoma, the Company has completed the submission of supplementary information as the Taiwan Ministry of Health and Welfare (MOHW) advised to Taiwan Food and Drug Administration (TFDA). (2) Once disapproved by competent authority or each of clinical trials (include interim analysis) results less than statistically significant sense, the risks & the associated measures the Company may occur: N/A (3) After obtaining official approval or the results of statistically significant sense, the future strategy: N/A (4) Accumulated investment expenditure incurred: In consideration of the future out-licensing negotiation strategies and to protect the rights and interests of investors, this will not be disclosed. 6.Upcoming development plan: (1) Estimated date of completion: The actual timeline will depend on regulatory review and clinical progress. (2) Estimated responsibilities: Relevant R&D expenses for executing clinical trials and payments of the licensing fee under exclusive licensing agreement based on the progress of clinical trials. New Risk • Jun 06
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 8.8% 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 33% per year over the past 5 years. Revenue is less than US$1m (NT$433k revenue, or US$14k). Minor Risk Share price has been volatile over the past 3 months (8.8% average weekly change). Announcement • May 12
BRIM Biotechnology, Inc. Provides Update on the IND Application of Phase I/IIb Clinical Trial of BRM411 in Patients with Glaucoma to TFDA BRIM Biotechnology, Inc. announced update on the Company's IND application of Phase I/IIb clinical trial of BRM411 in patients with glaucoma to TFDA. The company received the review opinions on the IND application of Phase I/IIb clinical trial of BRM 411 in patients with glaucom a from TFDA that TFDA was not able to agree to the implementation. The Company will submit the supplementary information as TFDA advised within the timeline. Once disapproved by competent authority or each of clinical trials (include interim analysis) results less than statistically significant sense, the risks & the associated measures the Company may occur: The Company will submit the supplementary Information as TFDA advised within the timelines. After obtaining official approval or the results of statistically significant sense, the future strategy: N/A. Accumulated investment expenditure incurred: In consideration of the future out-licensing negotiation strategies and to protect the rights and interests of investors, this will not be disclosed. Upcoming development plan: Estimated date of completion: The actual timeline will depend on regulatory review and clinical progress. Estimated responsibilities: Relevant R&D expenses for executing clinical trials and payments of the licensing fee under exclusive licensing agreement based on the progress of clinical trials. Market situation: With the global population aging, glaucoma is one of the fastest-growing eye diseases and is currently the second leading cause of blindness. According to statistics from the WHO, there are currently nearly 80 million glaucoma patients worldwide, and it is estimated that the number will exceed 100 million by 2040. According to statistics from the National Health Insurance Database, the prevalence of glaucoma in Taiwan is approximately 3%. The number of patients has increased year by year, currently exceeding 450,000, and the age of patients is also tending to be younger. According to a market research report published by Precedence Research, the global glaucoma treatment market size will reach USD 6.11 billion in 2023 and is expected to reach approximately USD 8.45 billion by 2033, with a compound annual growth rate (CAGR) of 3.29% from 2024 to 2033. North America is still the largest market for glaucoma treatment, while Asia Pacific is the fastest growing region during the forecast period, indicating that the global demand for glaucoma drugs and the market size will continue to grow. Announcement • Apr 29
BRIM Biotechnology, Inc. to Report Q1, 2025 Results on May 06, 2025 BRIM Biotechnology, Inc. announced that they will report Q1, 2025 results on May 06, 2025 New Risk • Apr 01
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: NT$3.33b (US$100.0m) 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. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 34% per year over the past 5 years. Revenue is less than US$1m (NT$333k revenue, or US$10k). Minor Risk Market cap is less than US$100m (NT$3.33b market cap, or US$100.0m). Announcement • Mar 17
BRIM Biotechnology, Inc., Annual General Meeting, Jun 25, 2025 BRIM Biotechnology, Inc., Annual General Meeting, Jun 25, 2025. Location: 2 floor no,12, chou tzu st., neihu district, taipei city Taiwan Announcement • Mar 07
BRIM Biotechnology, Inc. Submits the IND Application of Phase I/IIb Clinical Trial of BRM411 in Patients with Glaucoma to TFDA BRIM Biotechnology, Inc. announced the Company submitted the IND application of Phase I/IIb clinical trial of BRM411 in patients with glaucoma to TFDA. Indication: Glaucoma (Primary Open Angle Glaucoma; POAG or Ocular Hypertension; OHT). Planned development stages: Phase I/IIb clinical trial and sequential clinical trials. Current development stage: Application submission/approval/disapproval/each of clinical trials(include interim analysis): The company submitted the IND application of Phase I/IIb clinical trial of BRM411 in patients with glaucoma to TFDA. Accumulated investment expenditure incurred: In consideration of the future out-licensing negotiation strategies and to protect the rights and interests of investors, this will not be disclosed. Upcoming development plan: Estimated date of completion: The timeline will be adjusted according to the actual progress of the clinical trial. Estimated responsibilities: Relevant R&D expenses for executing clinical trials and payments of the licensing fee under exclusive licensing agreement based on the progress of clinical trials. New Risk • Jan 17
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: NT$3.29b (US$100.0m) 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. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 40% per year over the past 5 years. Revenue is less than US$1m (NT$156k revenue, or US$4.7k). Minor Risk Market cap is less than US$100m (NT$3.29b market cap, or US$100.0m). Announcement • Dec 16
BRIM Biotechnology, Inc. has completed a Follow-on Equity Offering in the amount of TWD 426.52431 million. BRIM Biotechnology, Inc. has completed a Follow-on Equity Offering in the amount of TWD 426.52431 million.
Security Name: Shares
Security Type: Common Stock
Securities Offered: 10,521,000
Price\Range: TWD 32.31
Security Name: Shares
Security Type: Common Stock
Securities Offered: 2,680,000
Price\Range: TWD 32.31 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 6.3% 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 40% per year over the past 5 years. Revenue is less than US$1m (NT$156k revenue, or US$4.8k). Minor Risk Share price has been volatile over the past 3 months (6.3% average weekly change). Announcement • Apr 05
BRIM Biotechnology, Inc., Annual General Meeting, Jun 27, 2024 BRIM Biotechnology, Inc., Annual General Meeting, Jun 27, 2024. Board Change • Feb 16
High number of new and inexperienced directors There are 5 new directors who have joined the board in the last 3 years. The company's board is composed of: 5 new directors. 4 experienced directors. No highly experienced directors. Independent Director Howard Kuo is the most experienced director on the board, commencing their role in 2023. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. New Risk • Sep 16
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 100% 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 No financial data reported. Shareholders have been substantially diluted in the past year (100% increase in shares outstanding). Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 4 non-independent directors. was the last director to join the board, commencing their role in . The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. 