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D.Western Therapeutics Institute
(4576)
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Rating:43Neutral
Price Target:
¥67.00
▼(-36.19% Downside)
Action:Reiterated
Date:09/16/26
The score is held down primarily by sustained losses and ongoing negative free cash flow (cash burn), despite improving loss trends and strong gross margins. Technicals also weigh on the score as the stock trades well below major moving averages with very weak momentum. Valuation provides limited support because the company is unprofitable and no dividend yield is available.
Positive Factors
Strong Gross Margins
A gross margin of about 78% in 2025, despite ongoing losses, indicates the underlying offering retains substantial gross profit capture. This provides a durable base for operating leverage if revenue scales, although the margin alone has not yet offset the company’s operating cost burden.
Negative Factors
Persistent Cash Burn
Recurring negative operating and free cash flow means the company is not currently funding its operations internally. Even with a better 2025 result, continued cash burn can require additional financing and may constrain investment, especially if the path to profitability takes longer.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong Gross Margins
A gross margin of about 78% in 2025, despite ongoing losses, indicates the underlying offering retains substantial gross profit capture. This provides a durable base for operating leverage if revenue scales, although the margin alone has not yet offset the company’s operating cost burden.
Read all positive factors
D.Western Therapeutics Institute (4576) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥3.91B
Dividend YieldN/A
Average Volume (3M)310.49K
Price to Earnings (P/E)―
Beta (1Y)-0.17
Revenue Growth-41.25%
EPS Growth55.11%
CountryJP
Employees19
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)-12.89
Shares Outstanding57,559,410
10 Day Avg. Volume557,840
30 Day Avg. Volume310,486
Financial Highlights & Ratios
PEG Ratio0.11
Price to Book (P/B)3.21
Price to Sales (P/S)11.87
P/FCF Ratio-9.27
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
D.Western Therapeutics Institute Business Overview & Revenue Model
Company Description
D. Western Therapeutics Institute, Inc. is a biotechnology enterprise focused on the research, discovery, and innovation of various pharmaceutical drugs. The company's current portfolio includes GLANATEC and GLA-ALPHA, ophthalmic solutions prescri...
D.Western Therapeutics Institute Financial Statement Overview
Summary
Income Statement
32
Negative
Balance Sheet
58
Neutral
Cash Flow
27
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 305.74M | 387.62M | 471.58M | 428.36M | 448.10M | 414.42M |
| Gross Profit | 251.40M | 301.24M | 424.74M | 391.70M | 420.53M | 394.32M |
| EBITDA | -611.48M | -572.35M | -1.23B | -775.59M | -390.75M | -110.03M |
| Net Income | -651.85M | -632.09M | -1.29B | -812.41M | -429.69M | -149.00M |
Balance Sheet | ||||||
| Total Assets | 1.97B | 2.17B | 1.67B | 2.37B | 2.96B | 2.46B |
| Cash, Cash Equivalents and Short-Term Investments | 1.54B | 1.71B | 1.13B | 1.87B | 2.33B | 1.93B |
| Total Debt | 594.17M | 605.18M | 797.98M | 885.12M | 967.69M | 340.00M |
| Total Liabilities | 654.26M | 734.01M | 935.57M | 1.09B | 1.08B | 427.72M |
| Stockholders Equity | 1.31B | 1.44B | 733.87M | 1.28B | 1.86B | 2.01B |
Cash Flow | ||||||
| Free Cash Flow | 0.00 | -496.54M | -1.31B | -601.76M | -364.58M | -179.21M |
| Operating Cash Flow | 0.00 | -493.79M | -1.30B | -586.82M | -354.77M | -176.31M |
| Investing Cash Flow | 0.00 | -2.45M | -10.01M | -15.25M | -139.89M | -111.15M |
| Financing Cash Flow | 0.00 | 1.08B | 567.63M | 134.47M | 867.30M | -104.46M |
D.Western Therapeutics Institute Technical Analysis
Negative
105.00
Price Trends
81.70
Negative
79.62
Negative
89.17
Negative
Market Momentum
-3.03
Positive
28.67
Positive
8.46
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:4576, the sentiment is Negative. The current price of 105 is above the 20-day moving average (MA) of 83.95, above the 50-day MA of 81.70, and above the 200-day MA of 89.17, indicating a bearish trend. The MACD of -3.03 indicates Positive momentum. The RSI at 28.67 is Positive, neither overbought nor oversold. The STOCH value of 8.46 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for JP:4576.
D.Western Therapeutics Institute Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
47 Neutral | ¥40.26B | 61.29 | ― | ― | -47.32% | ― | |
44 Neutral | ¥14.24B | -30.07 | ― | ― | -18.71% | -246.54% | |
44 Neutral | ¥8.80B | -7.91 | ― | ― | -56.16% | 3.12% | |
43 Neutral | ¥3.91B | -5.80 | -45.41% | ― | -41.25% | 55.11% | |
41 Neutral | ¥71.50B | -19.87 | -37.79% | ― | ― | 5.71% | |
40 Underperform | ¥10.72B | -5.96 | ― | ― | ― | 4.68% |
* Healthcare Sector Average
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D.Western Therapeutics Institute Corporate Events
D. Western Therapeutics Outlines Q2 FY12/26 Results and Outlook
Aug 13, 2026
D. Western Therapeutics Institute has released briefing materials for its second quarter results for the fiscal year ending December 2026. The documents outline financial performance, progress in business activities, and an updated forecast for th...
D.Western Therapeutics Posts Deeper Losses, Keeps 2026 Outlook Unchanged
Aug 13, 2026
D.Western Therapeutics Institute reported consolidated net sales of ¥33 million for the first half of 2026, an 80.9% year-on-year decline, with an operating loss of ¥312 million and a net loss attributable to owners of the parent of ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.