CanBas Co., Ltd.
Change in Use of Proceeds and Timing of Expenditures
Partial changes to the use of funds raised through new shares and new share subscription rights, and to the timing of expenditures. The allocation period for CBP501 Phase 3 clinical trial costs has been extended and preparations for initiating the Phase 3 trial in Europe are underway. The unallocated amount of 973.9 million yen will continue to be allocated to clinical expenses, and the final timing for operating fund expenditures has been changed to August 2026. Overall impact is stated to have no effect on performance.
Key Figures
- 3,271.9 million yen: CBP501 Phase 3 clinical trial costs
- 1,560 million yen: Operating funds (allocated)
- 3,721.9 million yen: Total funds raised (net proceeds approx.)
AI要約
Overview of Change in Use of Proceeds
Of the uses of proceeds announced in May 2023, the Board of Directors resolved today to change the timing of expenditures for CBP501 Phase 3 clinical trial costs and operating funds. Due to a delay in approval to start the Phase 3 clinical trial in the United States, funds for CBP501 have been shifted to preparations to start the trial with the European regulator (EMA). As a result, unallocated portions originally scheduled for allocation will be allocated beyond September 2026. Operating funds exceeded the amounts originally scheduled for allocation from July 2023 to April 2024, and additional allocations have been made from May 2024 onward.
Impact and Outlook
The company discloses that this change will not affect current-period results. The plan is to allocate the unallocated amounts going forward, extending the expenditure end dates: (1) to August 2028 and (2) to August 2026, respectively. Funds from the 17th series of share subscription rights have already been allocated, and the difference between total funds raised and allocated funds, 973.9 million yen, remains unallocated.
CanBas Co., Ltd.
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