MNOV reported FY 2025 net sales of USD 409,657 (JPY 62.95 million) and an operating loss of USD 13.28 million (JPY 2.04 billion). Loss before income taxes was USD 11.99 million (JPY 1.84 billion), while net loss attributable to shareholders was USD 12 million (JPY 1.84 billion), with net loss per share of USD 0.24. As of December 31, 2025, MNOV had total assets of USD 45.6 million (JPY 7.01 billion) and total equity/shareholders’ equity of USD 41.59 million (JPY 6.39 billion), with a shareholders’ equity ratio of 91.2% and shareholders’ equity per share of USD 0.84 (JPY 129.07). Operating cash flow for FY 2025 was negative USD 9.81 million (JPY 1.51 billion), and cash and cash equivalents at period end were USD 30.81 million (JPY 4.73 billion). MNOV reported no cash dividend for FY 2025 and forecast no dividend for FY 2026, and said it is not providing a FY 2026 consolidated financial forecast, citing potential impacts from strategic collaborations and out-licensing activities and uncertainty over whether a counterparty may bear part of expected R&D expenses.
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