SanBio Co (4592) AI Stock Analysis

• Market Cap: ¥132.41B
• Dividend Yield: N/A
• Average Volume (3M): 2.08M
• Price to Earnings (P/E): ―
• Beta (1Y): 0.97
• Revenue Growth: N/A
• EPS Growth: -12.69%
• Country: JP
• Employees: 29
• Sector: Healthcare
• Sector Strength: 45
• Industry: Biotechnology
• EPS (TTM): -9.95
• Shares Outstanding: 78,028,330
• 10 Day Avg. Volume: 2,869,570
• 30 Day Avg. Volume: 2,080,090
• PEG Ratio: -5.05
• Price to Book (P/B): 28.13
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -13.74
• 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: 42 Neutral
• Price Target: ¥1,651.00 ▼(-25.96% Downside)

The score is held down primarily by very weak financial performance (no meaningful revenue, large ongoing losses, and persistent cash burn), alongside a bearish technical setup (below key moving averages with negative MACD). Valuation is also constrained by negative earnings and no dividend yield support.

Positive Factors

Regulatory Approval

Approval for AKUUGO marketing changes allows SanBio to lift shipment restrictions, enhancing its market potential and positioning in regenerative medicine.

Market Expansion

AKUUGO's launch and planned U.S. expansion position SanBio as a leader in regenerative medicine, potentially increasing its market share and growth.

Funding for Growth

The international share offering provides capital for clinical trials and infrastructure, supporting SanBio's strategic growth in regenerative medicine.

Negative Factors

Financial Losses

Ongoing financial losses and asset declines highlight operational challenges, which may hinder long-term sustainability and require continuous external funding.

Cash Burn

Persistent cash burn indicates a high dependency on external funding, posing risks to financial stability if the burn rate does not improve.

Revenue Absence

Lack of revenue generation reflects limited commercial traction, posing a challenge to achieving profitability and reducing reliance on external capital.

SanBio Co Business Overview & Revenue Model

Company Description

SanBio Company Limited develops, produces, and sells regenerative cell medicines for the central nervous system. The company develops SB623 that has completed a phase 2 clinical trial to treat traumatic brain injury in the United States and Japan. Its research pipeline products also comprise SB623 for ischemic and hemorrhagic strokes, age-related macular degeneration, retinitis pigments, spinal cord injury, Parkinson's disease, Alzheimer's disease, and others; SB618 for peripheral nerve damage; SB308 for muscular dystrophy disease; MSC1 for cancer; and MSC2 for inflammatory disease and optic neuritis. The company was founded in 2001 and is headquartered in Tokyo, Japan.

How the Company Makes Money

SanBio Co. generates revenue through the development and commercialization of its cell therapy products, primarily targeting neurological conditions. The company's revenue model includes product sales, licensing agreements, and strategic partnerships with other pharmaceutical and biotechnology companies. Key revenue streams are anticipated from successful clinical trials leading to market approval and subsequent commercialization of their proprietary therapies. SanBio also collaborates with research institutions and industry partners to enhance its research and development capabilities, which can lead to milestone payments and royalties once products reach the market.

SanBio Co Financial Statement Overview

Summary

SanBio Co faces significant financial challenges with zero revenue, substantial losses, and negative cash flows. Despite maintaining some equity, the firm's financial position is precarious.

Income Statement

SanBio Co has consistently reported zero total revenue over the past years, indicating no sales activity. The company has experienced significant losses with substantial negative EBIT and net income figures, indicating a lack of profitability. The absence of revenue growth further emphasizes the company's struggle to generate income.

Balance Sheet

SanBio's balance sheet shows a declining trend in stockholders' equity from 2020 to 2025. The debt-to-equity ratio appears relatively stable, but the high level of liabilities compared to assets raises concerns about financial stability. Despite a decrease in cash reserves over time, the company maintains a positive equity ratio, indicating some resilience.

Cash Flow

SanBio has faced considerable challenges in managing cash flows, with operating cash flow consistently negative, leading to negative free cash flow. This indicates difficulties in sustaining operations without external financing. The free cash flow to net income ratio is unfavorable, highlighting the company's inability to convert earnings into cash flow.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	0.00	0.00	0.00	0.00	0.00	0.00
Gross Profit	-8.26M	-9.37M	-14.50M	-24.61M	-132.47M	-74.45M
EBITDA	-4.40B	-3.51B	-4.53B	-4.62B	-4.37B	-5.73B
Net Income	-3.57B	-2.88B	-2.64B	-5.56B	-4.68B	-3.39B
Balance Sheet
Total Assets	3.22B	3.45B	5.05B	7.05B	5.51B	13.34B
Cash, Cash Equivalents and Short-Term Investments	2.74B	2.92B	4.45B	6.73B	4.56B	12.48B
Total Debt	1.36B	397.00M	665.00M	933.00M	2.52B	4.00B
Total Liabilities	1.93B	1.68B	2.25B	2.62B	3.48B	4.99B
Stockholders Equity	1.29B	1.76B	2.79B	4.43B	2.04B	8.35B
Cash Flow
Free Cash Flow	0.00	-3.61B	-4.82B	-7.44B	-6.60B	-5.35B
Operating Cash Flow	0.00	-3.62B	-4.78B	-7.43B	-6.55B	-5.22B
Investing Cash Flow	0.00	-4.27M	-19.03M	-10.10M	-66.26M	4.18B
Financing Cash Flow	0.00	2.09B	2.38B	9.45B	-1.50B	-56.57M

SanBio Co Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 2230.00
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:4592, the sentiment is Negative. The current price of 2230 is above the 20-day moving average (MA) of 1649.00, above the 50-day MA of 2030.26, and below the 200-day MA of 2412.26, indicating a neutral trend. The MACD of -74.42 indicates Negative momentum. The RSI at 44.99 is Neutral, neither overbought nor oversold. The STOCH value of 55.51 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for JP:4592.

SanBio Co Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
4587	51 Neutral	¥225.25B	-38.57	-10.16%	―	-62.47%	-134.06%
2160	47 Neutral	¥137.14B	-167.09	-1.81%	―	13.78%	-110.02%
4974	47 Neutral	¥98.74B	-15.47	―	2.18%	-0.16%	-802.20%
4599	43 Neutral	¥17.49B	-9.14	―	―	―	11.34%
4592	42 Neutral	¥132.41B	-35.16	-636.97%	―	―	-12.69%
4565	40 Neutral	¥78.73B	-12.76	-9.05%	―	-1.96%	-64.18%

SanBio Co Corporate Events

SanBio Co. Records Significant Non-Operating Expenses and Deferred Income Taxes

SanBio Co., Ltd. announced the recording of significant non-operating expenses and deferred income taxes in the third quarter of the fiscal year ending January 31, 2026. The company reported a foreign exchange loss of 395 million yen and a foreign currency translation adjustment of 405 million yen due to exchange rate fluctuations, impacting its financial performance. Additionally, SanBio recognized deferred tax liabilities, leading to deferred income taxes of negative 446 million yen, affecting its earnings performance.

The most recent analyst rating on (JP:4592) stock is a Sell with a Yen1010.00 price target. To see the full list of analyst forecasts on SanBio Co stock, see the JP:4592 Stock Forecast page.

SanBio Reports Continued Financial Losses Amid Operational Challenges

SanBio Company Limited reported its consolidated financial results for the nine months ending October 31, 2025, showing a continued net loss with operating and ordinary income also in negative figures. The company’s financial position weakened compared to the previous period, with a significant decrease in total assets and net assets, reflecting ongoing challenges in its operations and market positioning.

The most recent analyst rating on (JP:4592) stock is a Sell with a Yen1010.00 price target. To see the full list of analyst forecasts on SanBio Co stock, see the JP:4592 Stock Forecast page.

SanBio Gains Approval for AKUUGO Marketing Changes

SanBio Co., Ltd. announced that the Ministry of Health, Labour and Welfare in Japan has approved a partial change to the marketing authorization for AKUUGO, a regenerative therapy for brain injuries. This change lifts certain shipment restrictions, allowing the company to proceed with its plans to launch the product following its NHI price listing. The company aims to expand its operations in the U.S. market with a Phase 3 clinical trial for traumatic brain injury and plans to discuss clinical trials for a stroke program in Japan, positioning itself as a leader in regenerative medicine.

The most recent analyst rating on (JP:4592) stock is a Sell with a Yen1010.00 price target. To see the full list of analyst forecasts on SanBio Co stock, see the JP:4592 Stock Forecast page.

SanBio Co. Announces International Offering to Fund Key Clinical Trials

SanBio Co., Ltd. has announced the determination of issue price and other details for its new shares through an international offering, aiming to raise approximately 14,202 million yen. The funds will be used primarily for clinical trials and infrastructure development for its AKUUGO® and SB623 programs, enhancing its market position in Japan and the U.S.

The most recent analyst rating on (JP:4592) stock is a Sell with a Yen1010.00 price target. To see the full list of analyst forecasts on SanBio Co stock, see the JP:4592 Stock Forecast page.

SanBio Co. Announces International Share Offering to Fund Regenerative Medicine Expansion

SanBio Co., Ltd. announced the issuance of new shares through an international offering to fund the launch and marketing of its product AKUUGO® in Japan and to support clinical trials in the U.S. and Japan. This strategic move aims to enhance the company’s growth and corporate value by establishing necessary infrastructure and expanding its market presence in regenerative medicine.

The most recent analyst rating on (JP:4592) stock is a Sell with a Yen1010.00 price target. To see the full list of analyst forecasts on SanBio Co stock, see the JP:4592 Stock Forecast page.

SanBio’s AKUUGO Gains Approval for Launch, Eyes Global Expansion

SanBio Co., Ltd. announced that the Subcommittee on Regenerative Medical Products and Biological Technologies has deemed the partial change proposal for AKUUGO acceptable, paving the way for its launch after NHI price listing. AKUUGO, the world’s first regenerative brain therapy, received conditional approval in Japan in 2024, and SanBio plans to expand its traumatic brain injury program to the U.S. market, aiming to become a leader in regenerative medicine.

The most recent analyst rating on (JP:4592) stock is a Sell with a Yen1010.00 price target. To see the full list of analyst forecasts on SanBio Co stock, see the JP:4592 Stock Forecast page.

SanBio Awaits Regulatory Decision on AKUUGO Suspension

SanBio Co., Ltd. announced that its application for a partial change in marketing approval for AKUUGO Suspension for Intracranial Implantation will be reviewed by regulatory authorities, with a decision expected by January 2026. The outcome of this review is anticipated to have minimal financial impact for the current fiscal year, but it could enhance SanBio’s position in the regenerative medicine market by potentially expanding the use of its stem cell-based product for brain injury treatment.

The most recent analyst rating on (JP:4592) stock is a Sell with a Yen1010.00 price target. To see the full list of analyst forecasts on SanBio Co stock, see the JP:4592 Stock Forecast page.