Ono Pharm. (4528): In‑house progress confirmed; focus shifts to accumulation of clinical data

Research evidence excerpt

Ono Pharm. (4528): In‑house progress confirmed; focus shifts to accumulation of clinical data

within five years of onset, did not identify any major safety concerns 52-Week Range 1,509-2,675 JPY

at 24 weeks. Some liver function test abnormalities were observed, but these recovered Market Value (mn) 1,122,060 JPY

after treatment discontinuation, and we view the adverse reactions as generally Market Value ($mn) 7,009 USD

manageable. In exploratory efficacy analyses, mUMSARS and MRI-based brain volume Shares Outstanding (mn) 499.1

assessment showed a trend toward suppression of disease progression, and the signal Average Daily Value ($mn) 28.2 USD

for slowing progression was relatively clear, particularly in the MSA-P subgroup. Based Free Float 65.4%

on the difference in efficacy by MSA subtype, Ono indicated that it plans to conduct BofA Ticker / Exchange OPHLF / TYO

Phase 3 in MSA-P, where it believes the probability of success is higher. Bloomberg / Reuters 4528 JP / 4528.T

ROE (2026E) 8.9%

Focus on in-house development, open to collaborations Net Dbt to Eqty (Mar-2025A) -12.6%

As its drug discovery strategy in neurology, Ono highlighted four priorities: (1) deeper

understanding of disease biology, (2) taking on the challenge of disease-modifying

therapies, (3) controlling glial cells in addition to neurons, and (4) improving human

ASCO: American Society of Clinical Oncology

translatability. It also introduced initiatives in glia drug discovery, lipid drug discovery, CLDN: Claudin

and ion channel drug discovery. Looking ahead, Ono has confirmed progress in multiple CPS: Combined positive score

projects, including upcoming Phase 2 data readouts for ONO-1110 (endocannabinoid EP4: Prostagrandin E2 receptor4

modulator) and ONO-2020 (epigenetic modulator).