Note: This document has been translated from the Japanese original for reference purposes only. In the event of any discrepancy
between this translated document and the Japanese original, the original shall prevail.

July 16, 2024

Non-consolidated Financial Results
for the Nine Months Ended May 31, 2024
[Japanese GAAP]
Company name
: Chordia Therapeutics Co., Ltd
Listing: Tokyo Stock Exchange
Security Code: 190AURL
: https://www.chordiatherapeutics.com/
Representative: Hiroshi Miyake, CEO & Representative Director
Inquiries: Kentaro Kume, CFO
Telephone: +81–3–6661-9543
Scheduled date to file quarterly security report: July 16, 2024
Scheduled date to commence dividend payments: Preparation of supplementary material on quarterly financial results : None
Holding of quarterly financial results briefing: None(Yen amounts are rounded down to millions, unless otherwise noted)

1. Non-consolidated financial results for the nine months ended May 31, 2024 (from September 1,2023 toMay 31, 2024)(1) Non-consolidated operating results (cumulative)(Percentages indicate year-on-year changes)
Business revenue
Nine months ended
May 31, 2024May 31, 2023

Millions of yen-

Operating income% Millions of yen-1,180-

Basic earning per share

Ordinary income% Millions of yen-1,175-

Net income% Millions of yen-1,177-%-

Diluted earning per share

Six months ended
Yen
Yen
May 31, 2024
-20.86
May 31, 2023
NOTE 1. The third quarter of the fiscal year ended August 3rd, 1.2023 has not prepared a quarterly financial table, so the descriptionof the third quarter of the fiscal year ended August 2023 was included. And the rate of change from the same quarter of theprevious fiscal year for the third quarter of the fiscal year ended August 2024 is not shown.
2. In terms of quarterly net profit per share after adjustment for latent stocks in the third quarter of the fiscal year ended
August 3rd, 2.2024, latent stocks still exist. However, since our stock was not listed in the third quarter of FY8/2024, wewere unable to determine the medium-term average stock price.Net loss per share is not stated because it is a quarterly loss.

(2) Non-consolidated financial position
Total assets
As ofMay 31 , 2024
August 31, 2023
Reference :Net assets

Millions of yen
3,462
4,909
EquityAs of May 31, 2024
As of August 31, 2023

Millions of yen
3,323
4,500

3,297 million yen
4,474 million yen

1Equity Ratio%
95.2
91.2

2. Cash dividends
End of first quarterEnd of second
quarter
Yen

Dividend per share
End of the thirdquarter
Yen

Yen
Fiscal year ended
0.00
August 31, 2023
Fiscal year ending
August 31, 2024
Fiscal year ending
August 31, 2024
0.00
(Forecast)(NOTE)Revisions to the most recently announced dividend forecasts: None

Term endTotalYenYen-0.00

0.00-0.00

0.00

3. Forecast of non-consolidated financial results for the fiscal year ending August 31, 2024 (from September
1, 2023 to August 31, 2024)(Percentages indicate year-on-year changes)

Business revenue

Operating income

Ordinary income

Millions ofMillions ofMillions of%
%
yen
yen
yen
Full year△2,273△2,278
NOTE: Revisions to the most recently announced earnings forecasts: None

Per share
Net income

Net income
Millions ofyen△2,280%%

Yen-△40.40*Note(1) Application of special accounting methods for preparing quarterly financial statements: None
(2) Changes in accounting policies and changes or restatement of accounting estimatesA) Changes in accounting policies due to revision of accounting standards: None
B) Changes in accounting policies other than the above: NoneC) Changes in accounting estimates: None
D) Restatement of revisions: None
(3) Number of shares outstanding (common shares)
A) Number of shares outstanding at the end of the period (including treasury stock)3Q for the Fiscal Year Ended August 2024
56,443,800 Shares
FY8/2023
56,443,800 Shares
B) Number of treasury stock at the end of the period3Q for the Fiscal Year Ended August 2024
SharesFY8/2023
SharesC) Average number of shares outstanding (quarterly consolidated cumulative period)
3Q for the Fiscal Year Ended August 2024
56,443,800 Shares
FY8/2023 3Q
Shares＊ Quarterly financial results are not subject to quarterly review by a certified public accountant or an auditing firm.
＊ Proper use of earning forecasts, and other special matters
The forward-looking statements including earning forecasts, contained in these materials are based on information currently
available to the Company and on certain assumption deemed to be reasonable. Actual results may differ from the above forecasts
due to changes in business performance and other factors. Please refer to "1. Qualitative Information on Quarterly Financial Results,(3) Explanation of Earnings Forecasts and Other Forward-looking Statements" on page 3 of the attached material for notes on theuse of financial results forecasts.

2

Attached MaterialIndex
１．Qualitative information regarding financial result for the there months ended May 31, 2024 …………………………

4（１）Explanation of operating results……………………………………………………………………………………

4（２）Explanation of financial position……………………………………………………………………………………

4（３）Explanation of earning forecasts and other forward-looking statement……………………………………………

5

２．Quarterly financial statement and significant notes thereto ………………………………………………………………

6（１）Quarterly balance sheet………………………………………………………………………………………………

6（２）Quarterly statement of income………………………………………………………………………………………

7(Cumulative) …………………………………………………………………………………………………………

7（３）Notes to quarterly financial statements………………………………………………………………………………

8

Notes on premise of going concern…………………………………………………………………………………

8

Notes when there are significant changes in amounts of shareholder’s equity………………………………………

8

Segment information…………………………………………………………………………………………………

8

Significant subsequent events…………………………………………………………………………………………

83

1. Qualitative Information regarding financial result for the there months ended May 31, 2024
(1) Explanation of operating Results
The Company aspires to build a world where people can feel hope for tomorrow (Tomorrow is Another Day) by delivering
first-in-class anticancer drugs to patients as soon as possible. Since our establishment, our mission has been to discover
innovative (first-in-class) anticancer drugs. Through the realization of this mission, our vision is to grow into the world's first
R&D-oriented pharmaceutical company, originating in Japan in 2030.
We are pursuing drug discovery research specializing in oncology, where there are high unmet medical needs with a focus
on novel, small-molecular innovative drugs (first-in-class), which have a totally new mechanism of action. Since first-in-classdrugs have a novel mechanism of action, they are expected to demonstrate a different clinical benefit compared to existing drugs
and have the potential to drastically change the current standard of care. In particular, for many patients who are anxious about
the progress of their current cancer and are not sufficiently satisfied with their treatment because of the lack of adequate efficacyof existing drugs, we believe that our first-in-class drugs may deliver the hope that they will be able to control the progression of
their cancer.
In the first nine months of the fiscal year ending August 31, 2024, our research and development pipeline demonstrated steadyprogress, particularly CDC-like kinase (CLK) inhibitor CTX-712.
Regarding CLK inhibitor CTX-712, Phase 1 clinical trial patient enrollment in Japan (46 patients with solid tumors and 14
patients with hematologic malignancies, for a total of 60 patients) was completed with the support of medical institutions even as
they took measures to prevent the spread of COVID-19. The results of the Phase 1 clinical trial in Japan were announced at theAmerican Association for Cancer Research Annual Meeting in April 2024, outlining safety, efficacy, genome data, andpharmacokinetics (PK) analysis in 46 patients with solid tumors and 14 patients with hematologic malignancies as of data cutoff
in November 2023. The dose-limiting toxicities (DLTs) observed were dehydration, thrombocytopenia, hypokalemia, andpneumonia, and the maximum tolerated dose (MTD) for the twice-weekly dose was determined to be 140 mg. While adverse
events including nausea, vomiting, and diarrhea were related to CTX-712, the safety profile was considered acceptable.
Regarding efficacy, 4 patients with solid tumors achieved partial response (PR), and all of them were ovarian cancers (n=4/14,28.6%). Within the subgroup of ovarian cancer exhibiting MYC amplification, PR was achieved in 2 in 3 patients (66.7%).
Among a total of 14 patients with acute myeloid leukemia (AML) and myelodysplastic syndrome (MDS), 4 patients achieved
complete remission (CR), 1 patient complete remission with incomplete hematologic recovery (CRi), and 1 patient morphologic
leukemia-free state (MLFS). The overall response rate was 42.9%. Furthermore, 3 in 4 patients with splicing factor mutations(75%) achieved response. The treatment duration of the 3 patients achieving response was 300 days or longer, indicating longterm response, with 1 patient receiving CTX-712 for 974 days. The PK analysis indicated a dose-dependent increase in systemic
exposure, and the pharmacodynamic (PD) response of CTX-712 was confirmed by a dose-dependent increase of splicing
alterations in RNA PD markers. Overall, these clinical study results demonstrated the effectiveness of CTX-712 in treating
ovarian cancer and hematologic malignancies.
In the United States, the Phase 1/2 trials of CTX-712 for the treatment of hematologic malignancies are progressing steadily.
As of May 31, 2024, study treatment had been completed in 16 patients, and more efforts are underway to further the study.
Regarding mucosa-associated lymphoid tissue lymphoma translocation protein 1 (MALT1) inhibitor CTX-177, a licensing
agreement was concluded with Ono Pharmaceutical Co., Ltd. in December 2020, and accordingly, Ono Pharmaceutical has
begun the Phase 1 clinical trial in patients with relapsed or refractory non-Hodgkin lymphoma or chronic lymphocytic leukemia
in the US. Ono Pharmaceutical presented an overview of the Phase 1 clinical trial at the Annual Meeting of the American Societyof Clinical Oncology in June 2024.
CDK12 Inhibitor CTX-439, which is in the preclinical stage, is undergoing preparation for the next development stage.
Preclinical safety studies are now complete, and the active pharmaceutical ingredient of the investigational drug has been
manufactured for clinical use.
Regarding patents, the pharmaceutical substance patent for CTX-712 has been registered in fifty countries, an increase of one
country in the period under review. The patent for MALT1 has been registered in eight countries, an increase of two countries.
The patent for CTX-439 has been registered in four countries, an increase of one country, while that for GCN2 has beenregistered in six countries. Regarding CTX-712, a patent concerning biomarkers in solid tumors (WO2023/190967) waspublished, while another patent application was filed in January 2024.
As a result of the above business activities, there were no revenues for the first nine months of the fiscal year. Regarding
business expenses, research and development expenses totaled 984 million yen for the period, and other selling, general andadministrative expenses totaled 196 million yen.
As a result, operating loss for the period totaled 1,180 million yen, ordinary loss totaled 1,175 million yen, and net loss totaled
1,177 million yen.
The company operates only one business segment (i.e., the pharmaceutical business), and therefore there are no segmentbased operating results to report.

(2) Explanation of financial position

4

①
Assets, Liabilities and Net assets
AssetsAssets as of May 31, 2024 totaled 3,462 million yen, a decline of 1,447 million yen compared with the end of the previous
fiscal year. Current assets totaled 3,432 million yen, a decline of 1,459 million yen. The main factor was a decline of 1,541
million yen in cash and deposits, mainly for payments to outside organizations conducting research and development. Noncurrent assets totaled 29 million yen, an increase of 12 million yen.
Liabilities
Liabilities as of May 31, 2024 totaled 138 million yen, a decline of 269 million yen compared with the end of the previous
fiscal year. Current liabilities totaled 138 million yen, a decline of 269 million yen. The main factor was a decline of 167 million
yen in accounts payable-other due to payments to outside organizations conducting research and development. There are no noncurrent liabilities.
Net assets
Net assets as of May 31, 2024 totaled 3,323 million yen, a decline of 1,177 million yen compared with the end of the previous
fiscal year. Retained earnings declined 1,177 million yen as a result of the net loss.

(3) Explanation of earnings forecasts and other forward-looking statements
Regarding financial forecasts for the full year ending August 31, 2024, there is no change to the financial forecasts announced
on June 14, 2024 in the Japanese-language announcement, “Notice on Financial Results and Other Information in Conjunction
with Listing on the Growth Market of the Tokyo Stock Exchange”.

52. Quarterly financial statement and significant notes thereto(1) Quarterly Balance sheet(Thousands of yen)
As of August 31, 2023
AssetsCurrent assets
Cash and deposits
Advance payments
Prepaid expenses
OthersTotal current assets
Non-Current assets
Property, plant and equipment
Tools, furniture and fixtures
Accumulated depreciation
Tools, furniture, and fixtures, net
Total property, plant and equipment
Intangible assets
SoftwareTotal intangible assets
Investments and other assets
Long-term prepaid expenses
OthersTotal investments and other assets
Total non-current assets
Total assets
LiabilitiesCurrent liabilities
Accounts payable-otherAccrued expenses
Provision for bonuses
Income taxes payable
OthersTotal current liabilities
Total liabilities
Net assets
Shareholders' equity
Share capital
Capital surplus
Retained earnings
Total shareholders' equity
Stock acquisition right
Total net assets
Total liabilities and net assets

6

As of May 31, 2024

4,799,035
40,51852,058－4,891,612

3,257,183
18,82044,544
111,596
3,432,144

10,675△6,2494,425
4,425

10,853△7,911
2,941
2,941

2,497
2,497

1,053
1,0538,691
1,894
10,586
17,5104,909,123

13,582
12,31625,89829,894
3,462,039

248,433
9,882
15,7202,420
131,784
408,241
408,241

81,33925,213－
1,815
30,269138,636
138,636

90,0008,279,601△3,894,652
4,474,948
25,9334,500,881
4,909,123

90,0008,279,601△5,072,132
3,297,468
25,933
3,323,402
3,462,039

(2) Quarterly Statement of income (Cumulative)(Thousands of yen)Three months ended
May 31, 2024
(September 1, 2023
To May 31, 2024)
Business revenue
Business expenses
Research and development expense
Selling, general and administrative expenses
Total operating expenses
Operating loss
Non-operating income
Grant income
OthersTotal non-operating income
Non-operating expenses
Listing expenses
Foreign exchange losses
Total non-operating expenses
Ordinary loss
Quarterly loss before income taxes
Income taxes
Total income taxes
Net loss through the quarter

984,457
196,366
1,180,823-1,180,823
17,727102
17,8296,110
6,560
12,671-1,175,664-1,175,664
1,815
1,815
-1,177,479

7

(3) Notes to quarterly financial statements
Notes on the Going Concern Assumption
Not applicable.
Notes on Substantial Changes in the Amount of Shareholders' Equity
Not applicable.
Segment Information
Disclosure of this information is omitted because the Company operates a single segment of drug development business.
Significant subsequent events(Issuance of New Shares through Public Offering)
We listed our shares on the Tokyo Stock Exchange Growth Market on June 14, 2024. In 2024, upon listing
In 2024, the Company issued new shares through a public offering in accordance with the resolution of the Board of Directors
meeting held on May 10 and May 28, 2024 as follows
Payment was completed on June 13.
(1) Recruitment method
Recruiting in domestic and overseas markets, mainly in Europe and Asia
(2) The classes and the number of the Shares for Subscription.
9,100,000 shares
Domestic
8,087,600 shares
Overseas
1,012,400 shares(3) Issue price
153 yen per share(4) Underwriting priceDomestic: 140.76 yen per share
Overseas: 140.76 yen per share(5) Amount incorporated into capital
Domestic: 70.38 yen per share
Overseas: 70.38 yen per share(6) Amount of increased capital
640,458,000 yen(7) Amount of additional paid-in capital to be increased
640,458,000 yen(8) Aggregate underwriting price
1,280,916,000 yens
(9) Payment dateJune 13, 2024
(10) Use of funds
Working capital8