Veritas In Silico ＜130A＞ announced financial results for the 1st quarter (24/1/03) of the fiscal year ending 2024/12 on the 7th. Business revenue was 32 million yen, operating loss was 65 million yen, ordinary loss was 87 million yen, and quarterly net loss was 87 million yen. Since quarterly financial statements have not been prepared for the first quarter of the fiscal year ending 2024/12, the rate of increase or decrease for the first quarter of the fiscal year ending 2024/12 compared to the same quarter of the previous year is not described. Business revenue for the first quarter included research support fund income, etc. from the mRNA-targeted small molecule drug discovery business.

Joint drug discovery research with Toray Industries ＜3402＞, Shionogi Pharmaceutical ＜4507＞, LaQuoria Pharmaceutical ＜4579＞, and Takeda Pharmaceutical ＜4502＞ (hereafter, these pharmaceutical companies are referred to as partners) is continuing for the mRNA-targeted small molecule drug discovery business. Joint drug discovery research with the four partner companies progressed in the first quarter of this year. Efforts will be made to steadily implement joint drug discovery research with partner companies in order to achieve the next level of research milestones. Also, in order to acquire new partners, in addition to negotiations with pharmaceutical companies under confidentiality agreements, the company vigorously introduced the company's platform technology to domestic and foreign pharmaceutical companies interested in the company's mRNA-targeted small molecule drug discovery, and efforts were made to increase the number of companies that can negotiate under confidentiality agreements. It is planned to focus on business development activities in order to acquire new partners for the current fiscal year and the next fiscal year.

Regarding other mRNA-related drug discovery businesses, mRNA-related drug discovery, starting with nucleic acid pharmaceuticals, is still a field where technology development is necessary, and it cannot be said that it is sufficiently responding to a wide range of treatment needs at present. Regarding nucleic acid pharmaceuticals, the company has already identified antisense oligonucleotides (ASO), which are a type of nucleic acid drug that lowers the amount of mRNA in the p53 gene and suppresses protein expression, and has obtained a patent in Japan (patent 6934695). The company began studies with Mitsubishi Gas Chemical ＜4182＞ to conclude a joint research agreement aimed at ASO research, development, and manufacturing in 2023/12. In this first quarter, discussions have been repeated on the details of joint research, such as gene candidates targeted by ASO. Also, prior to joint research with Mitsubishi Gas Chemical, the company began in-house research to acquire ASO with even more efficiency and high activity by utilizing its knowledge on ASO so far.

Regarding the full-year earnings forecast for the fiscal year ending 2024/12, we have left the initial plan for sales of 676 million yen, up 87.6% from the previous fiscal year, operating income of 144 million yen, up 284.4% from the same period, ordinary profit of 128 million yen, up 257.6% from the same period, and net income of 108 million yen, up 229.0% from the same period.