Ribomic, Inc. (4591) AI Stock Analysis

• Market Cap: ¥4.56B
• Dividend Yield: N/A
• Average Volume (3M): 477.44K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.79
• Revenue Growth: -100.00%
• EPS Growth: 7.60%
• Country: JP
• Employees: 24
• Sector: Healthcare
• Sector Strength: 45
• Industry: Biotechnology
• EPS (TTM): -6.09
• Shares Outstanding: 54,332,640
• 10 Day Avg. Volume: 531,790
• 30 Day Avg. Volume: 477,440
• PEG Ratio: 0.32
• Price to Book (P/B): 1.30
• Price to Sales (P/S): 1880.02
• P/FCF Ratio: -3.84
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 43 Neutral
• Price Target: ¥83.00 ▲(10.67% Upside)

The score is primarily constrained by weak financial performance—minimal/volatile revenue alongside large ongoing losses and sustained cash burn, despite the benefit of having no debt. Technicals are also soft with the stock trading below key moving averages and a negative MACD, while valuation metrics offer limited support due to negative earnings and no provided dividend yield.

Positive Factors

Debt-free balance sheet

A consistent lack of debt lowers refinancing and interest burdens, reducing solvency risk. For an R&D-heavy biotech this increases strategic optionality, letting management prioritize milestones or partnerships rather than servicing debt, supporting longer-term flexibility.

Positive gross profit where revenue exists

When revenue is generated the business shows positive gross profit, indicating potentially favorable unit economics. If the company can re-establish steady commercial activity, those underlying margins could support operating leverage and sustainable margin recovery over time.

Lean headcount supports operational flexibility

A small team (24 employees) implies lower fixed overhead and the ability to direct scarce cash to priority R&D programs. Lean staffing can extend runway, enable focused execution, and reduce the incremental burn rate versus larger peers as the company advances development milestones.

Negative Factors

Minimal and volatile revenue

Revenue collapsed to zero in FY2024 and was negligible in FY2025, showing no commercial scale. This structural lack of recurring income undermines long-term cash generation, making the business dependent on external financing or nonrecurring receipts to sustain operations.

Persistent and large cash burn

Sustained operating cash outflows near ¥1.0B annually versus negligible revenue create an ongoing funding requirement. Persistent burn forces frequent capital raises, elevating dilution risk and constraining the company's ability to advance programs without dilutive or restrictive financing terms.

Equity erosion over time

Shareholders' equity halving over several years signals capital erosion from cumulative losses and/or dilution. A shrinking equity cushion reduces financial resilience, narrows options for funding adversity, and increases vulnerability if future financing becomes more costly or scarce.

Ribomic, Inc. Business Overview & Revenue Model

Company Description

Ribomic Inc. discovers and develops pharmaceutical compounds using RNA aptamers in Japan. The company develops drugs for wet age-related macular degeneration, achondroplasia, pulmonary arterial hypertension, proliferative vitreoretinopathy, heart failure, osteoarthritis, and asthma, as well as separating agents for affinity purification of human IgG and Fc-fusion proteins. Ribomic Inc. was incorporated in 2003 and is headquartered in Tokyo, Japan.

How the Company Makes Money

Ribomic, Inc. generates revenue primarily through research and development partnerships, licensing agreements, and potential milestone and royalty payments associated with its aptamer-based therapeutics. The company collaborates with pharmaceutical and biotechnology firms to co-develop and commercialize its drug candidates, leveraging its proprietary technology platform. These partnerships often involve upfront payments, as well as contingent payments based on the achievement of specific development, regulatory, or sales milestones. Additionally, once the products are commercialized, Ribomic stands to earn royalties based on sales, further contributing to its revenue.

Ribomic, Inc. Financial Statement Overview

Summary

Financials reflect an early-stage biotech profile with very small/volatile revenue (including zero in FY2024), deep and widening losses (FY2025 net loss ~¥1.02B), and persistent cash burn (FY2025 operating cash flow about -¥1.0B; free cash flow about -¥1.03B). The main offset is a debt-free balance sheet, but equity has declined materially (about ¥6.0B to ¥3.0B from FY2021 to FY2025), indicating ongoing capital consumption.

Income Statement

Revenue is small and volatile, including a drop to zero in FY2024 and only ~¥2.1M in FY2025, indicating limited commercial scale and/or dependence on irregular sources. Profitability is deeply negative across the period, with losses widening again in FY2025 (net loss ~¥1.02B) and extremely weak margins given the low revenue base. A positive is that reported gross profit is generally positive (where revenue exists), but operating costs overwhelm the business model at its current stage.

Balance Sheet

The company reports no debt across all years, which reduces financial risk and refinancing pressure. However, equity has declined materially over time (from ~¥6.0B in FY2021 to ~¥3.0B in FY2025), consistent with ongoing losses and dilution/erosion of capital. Returns on equity are persistently negative, highlighting that the balance sheet strength is being consumed rather than compounded.

Cash Flow

Cash burn is substantial and persistent, with operating cash flow negative every year (about -¥1.0B in FY2025) and free cash flow also negative (about -¥1.03B in FY2025). While free cash flow improved in FY2024 versus FY2023, it deteriorated again in FY2025, suggesting an uneven but ongoing funding requirement. A modest positive is that free cash flow roughly tracks net loss (cash burn not dramatically worse than accounting losses), but the absolute level of burn remains high versus the revenue base.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	1.11M	2.11M	0.00	65.97M	80.91M	91.96M
Gross Profit	-190.00K	2.11M	-10.50M	65.97M	80.91M	91.96M
EBITDA	-992.17M	-1.02B	-1.01B	-1.79B	-1.73B	-1.21B
Net Income	-992.39M	-1.02B	-1.02B	-1.65B	-1.68B	-1.19B
Balance Sheet
Total Assets	2.93B	3.19B	3.55B	4.58B	4.95B	6.12B
Cash, Cash Equivalents and Short-Term Investments	2.81B	3.04B	3.40B	4.33B	4.70B	5.84B
Total Debt	0.00	0.00	0.00	0.00	0.00	0.00
Total Liabilities	111.84M	142.21M	155.81M	199.30M	260.53M	116.96M
Stockholders Equity	2.82B	3.04B	3.39B	4.38B	4.69B	6.00B
Cash Flow
Free Cash Flow	0.00	-1.03B	-955.48M	-1.73B	-1.51B	-1.15B
Operating Cash Flow	0.00	-999.00M	-932.76M	-1.71B	-1.50B	-1.15B
Investing Cash Flow	0.00	67.18M	177.27M	276.35M	689.56M	-1.70B
Financing Cash Flow	0.00	667.26M	27.65M	1.33B	354.72M	4.99B

Ribomic, Inc. Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 75.00
• 50DMA: Positive
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:4591, the sentiment is Negative. The current price of 75 is below the 20-day moving average (MA) of 85.65, below the 50-day MA of 80.92, and below the 200-day MA of 93.04, indicating a neutral trend. The MACD of 1.56 indicates Positive momentum. The RSI at 48.71 is Neutral, neither overbought nor oversold. The STOCH value of 5.81 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for JP:4591.

Ribomic, Inc. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
4570	72 Outperform	¥14.31B	44.82	―	―	12.91%	37.96%
4594	53 Neutral	¥8.40B	-5.54	―	―	1221.43%	30.54%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
4588	50 Neutral	¥50.87B	-21.14	―	―	-9.04%	13.09%
4881	50 Neutral	¥3.53B	-1.97	―	―	-16.23%	-51.84%
4583	45 Neutral	¥7.67B	-8.33	―	―	25.28%	39.15%
4591	43 Neutral	¥4.56B	-3.54	―	―	-100.00%	7.60%

Ribomic, Inc. Corporate Events

Ribomic Files Patent for High-Activity Eye-Disease Aptamer RBM-006 After Positive Diabetic Retinopathy Data

Ribomic has filed a new substance patent application in Japan for RBM-006, a highly active anti-autotaxin aptamer with a shorter chain length than existing candidates, and reported that the molecule significantly suppressed retinal hemorrhage in a mouse model of diabetic retinopathy. The data, generated in collaboration with the University of Tokyo, strengthen the intellectual property position around RBM-006 and underscore its potential as a mechanistically distinct alternative to anti-VEGF drugs, which fail to benefit more than half of diabetic retinopathy patients, with the company planning to pursue early commercialization through partnerships while confirming that funding for development is secured and its full-year earnings forecast remains unchanged.

The most recent analyst rating on (JP:4591) stock is a Hold with a Yen84.00 price target. To see the full list of analyst forecasts on Ribomic, Inc. stock, see the JP:4591 Stock Forecast page.

RIBOMIC Reports Positive Phase 2 Trial Results for Achondroplasia Treatment

RIBOMIC, Inc. has announced promising results from a Phase 2 clinical trial of their drug umedaptanib pegol, designed to treat achondroplasia in pediatric patients. The trial showed that two patients experienced a significant increase in height growth velocity, with sustained efficacy over two years, potentially positioning RIBOMIC as a key player in developing treatments for this rare disease.

Ribomic Inc. Reports Six-Month Financial Results with No Revenues

Ribomic Inc. reported its non-consolidated financial results for the six months ending September 30, 2025, showing no operating revenues and a net loss. Despite the financial losses, the company maintains a strong equity ratio of 96.1%, indicating a solid financial position, which may reassure stakeholders about its stability amidst ongoing challenges.