SymBio Pharmaceuticals Limited (4582) － Financial Results for the First Quarter of Fiscal Year Ended December 31, 2012
[Japan GAAP] (Non-consolidated)

Financial Results for the First Quarter of Fiscal Year Ended December 31, 2012
[Japan GAAP] (Non-consolidated)
May 11, 2012
Company name:Securities Code

SymBio Pharmaceuticals Limited
4582

Listing: Osaka Securities Exchange
URL http://www.symbiopharma.com/

Representative

Representative Director,
President and Chief Executive Officer

Fuminori Yoshida

Inquiries

Director, Managing Officer,
Chief Financial Officer

Hiroki Maekawa

TEL 03(5472) 1125

Scheduled date of securities
report submission

May 14, 2012

Scheduled date ofdividend payment―Supplementary materials for the financial statements:

No

Presentation to explain for the financial statements:

No(Million yen – rounded down, unless otherwise stated)

1. Business Results for the First Quarter of Fiscal 2012 (January 1, 2012 to March 31, 2012)(Percentage figures represent changes from the same quarter of the(1) Business results (cumulative)
previous fiscal year)
Net sales

Operating profit

Ordinary profit

Quarterly net profit

Million yen%

Million yen% Million yen%

Million yen%

1st Quarter Fiscal 2012

580

66.9-480--515--516-

1st Quarter Fiscal 2011348--410--392--399-

Quarterly net profit pershare

Diluted quarterly netprofit per share

YenYen-27.00-

1st Quarter Fiscal 2012

1st Quarter Fiscal 2011
-3,224.54(Notes) 1. Despite the issuance of stock acquisition rights, information in connection with diluted quarterly net profit per share is notdisclosed due to quarterly net loss per share.
2. The Company made a stock split at the rate of 100 shares for each outstanding share effective June 2, 2011.
3. As the Company started to compile quarterly financial statements in the first quarter of Fiscal 2011, the changes from thesame quarter of the previous fiscal year are not disclosed for the first quarter of Fiscal 2011.
(2) Financial position
Total assets

Net assets

Million yen

Equity ratio

Million yen%

1st Quarter Fiscal 2012

6,830

6,089

89.2

Fiscal 2011

7,256

6,60591.0(Reference) Shareholders’ equity

1st Quarter Fiscal 2012

6,089 million yen

Fiscal 2011

6,605 million yen

2. Dividends
Annual dividend per shareFiscal 2011
Fiscal 2012
Fiscal 2012
(Forecast)

1st quarter end

2nd quarter end

3rd quarter end

Fiscal year end

Yen-Yen
0.00

Yen-

Yen
0.00

Yen
0.00

0.00

-0.00

0.00

(Note) Revision of forecast of dividends during this quarter:

No

Full year

SymBio Pharmaceuticals Limited (4582) － Financial Results for the First Quarter of Fiscal Year Ended December 31, 2012
[Japan GAAP] (Non-consolidated)

3. Forecast of Financial Results for Fiscal 2012 (January 1, 2012 to December 31, 2012)(Percentage figures represent changes from the previous fiscal year)
Net sales

Operating profit

Million yenFull year

2,338% Million yen
24.2

Ordinary profit% Million yen-1,625--1,652

Net profit

Net profit per share% Million yen%Yen-1,656--86.56-(Note) Revision of forecast of financial results during this quarter: No

4. Other information(1) Special accounting treatments for quarterly financial
statements:

No(2) Changes in accounting policies and estimates and retrospective corrections
1. Changes in accounting policies due to revisions ofaccounting standards:
2. Changes in accounting policies other than those notedin 1.:NoNo

3. Changes in accounting estimates:

No

4. Retrospective corrections:No(3) Number of issued shares (common shares)
1. Number of issued shares at the end of period(including treasury shares)
2. Number of treasury shares at the end of period

1st Quarter
Fiscal 2012

19,130,900sharesFiscal 2011

19,130,900shares

75sharesFiscal 2011

75shares

1st Quarter
Fiscal 2012

3. Average number of shares during the period

1st Quarter
1st Quarter
19,130,825shares(cumulative quarterly periods)
Fiscal 2012
Fiscal 2011
(Note) The Company made a stock split at the rate of 100 shares for each outstanding share effective June 2, 2011.

123,762shares* Quarterly review procedures
Review procedure for quarterly financial statements is underway based on Financial Instruments and Exchange Act at the timingof this disclosure.
* Information regarding proper use of financial forecast and other important matters
Any forward-looking statements in this material including forecast of financial results are estimates based on information
available at the time and certain assumptions that the management believes reasonable. Actual results may differ substantiallyfrom such forecasts due to various factors. Please refer to “(3) Forecast of financial results” in “1. Management’s Discussion andAnalysis on the Quarterly Financial Results” on page 2 in the attachment to this quarterly business report for the assumptions forforecast of financial results and notes for its proper use.

SymBio Pharmaceuticals Limited (4582) － Financial Results for the First Quarter of Fiscal Year Ended December 31, 2012
[Japan GAAP] (Non-consolidated)○Index of the attachment
1. Management’s Discussion and Analysis on the Quarterly Financial Results .........................................................................

1(1) Business results analysis ...................................................................................................................................................

1(2) Financial position analysis ................................................................................................................................................

1(3) Forecast of financial results ..............................................................................................................................................

22. Other Summary Information ..................................................................................................................................................

2(1) Additional information .....................................................................................................................................................

23. Quarterly Financial Statements ..............................................................................................................................................

3(1) Quarterly balance sheets ...................................................................................................................................................

3(2) Quarterly income statement ..............................................................................................................................................

5(Three months ended March 31) ................................................................................................................................

5(3) Explanatory notes regarding the assumption of the Company as going concern ..............................................................

6(4) Explanatory note regarding significant fluctuation in shareholders’ equity ......................................................................

6(5) Important subsequent events .............................................................................................................................................

6

SymBio Pharmaceuticals Limited (4582) － Financial Results for the First Quarter of Fiscal Year Ended December 31, 2012
[Japan GAAP] (Non-consolidated)

1. Management’s Discussion and Analysis on the Quarterly Financial Results(1) Business results analysis
The Company’s business progressed during the first three months of Fiscal 2012 as follows:
1. Domestic
In Japan, the Company sells an anticancer drug SyB L-0501 (the generic name: bendamustine hydrochloride, the trade
name: TREAKISYM®) through the business partner Eisai Co., Ltd. (Eisai) for the indications of relapsed/refractoryindolent non-Hodgkin’s lymphoma (NHL) and mantle cell lymphoma (MCL). The sales of TREAKISYM® had beensteady since the launch in December 2010 and the Company’s sales of the product to Eisai were mostly in line with theplan in this quarter.
Three different series of clinical trials are underway for TREAKISYM® at present for multiple extended indications.
Phase II clinical trials for relapsed/refractory aggressive non-Hodgkin’s lymphoma (collaborative trials in Japan andSouth Korea) have made the most advancing progresses thus far. The registration of trial cases was completed last year
and analyses and evaluations were performed during this quarter.
We also continued the patient enrollment and administration to enrolled patients for phase II clinical trials for the otherextended indications, namely untreated indolent non-Hodgkin’s lymphoma and mantle cell lymphoma as well as
refractory/relapsed multiple myeloma.
As for an anticancer drug SyB L-1101 (the intravenous form, the generic name: rigosertib), the application for Phase I
clinical trials in Japan was accepted in March 2012 for the indication of refractory/relapsed myelodysplastic syndrome(MDS), a hematologic cancer.
We continued the patient enrollment and administration to enrolled patients for Phase II clinical trials of SyB D-0701, atransdermal antiemetic patch, for the indication of radiotherapy-induced nausea and vomiting.
2. Overseas
The business partner InnoPharmax Inc. started to sell SyB L-0501 in Taiwan in February 2012. We sell the productthrough Eisai in Singapore and South Korea as in Japan and the sales were steady in these countries during the quarter.
3. Business Results
As a result of aforementioned developments, net sales totaled 580,816 thousand yen (an increase by 66.9% from the same
period of the previous fiscal year) in the first three months of the current fiscal year due to the sales of SyB L-0501 in
Japan and Asian countries.
Selling, general and administrative expenses totaled 609,058 thousand yen (an increase by 23.3% from the same period of
the previous fiscal year), which comprised research and development cost of 361,591 thousand yen (an increase by 20.1%
from the same period of the previous fiscal year) for clinical trials of SyB L-0501 for multiple indications, clinical trials
for SyB D-0701, and preparations for SyB L-1101 as well as other selling, general and administrative expenses of
247,466 thousand yen (an increase by 28.4% from the same period of the previous fiscal year).
As a result, we posed operating loss of 480,647 thousand yen in the first three months of the current fiscal year (comparedto operating loss of 410,825 thousand yen in the same period of the previous fiscal year). Non-operating expenses of
35,853 thousand yen were recorded mainly due to foreign exchange loss, resulting in ordinary loss of 515,508 thousand
yen and net loss of 516,458 thousand yen (compared to losses of 392,795 and 399,076 thousand yen in the same period of
the previous fiscal year, respectively).
Segment information is not disclosed as our business consists of a single line of business, namely drug research anddevelopment, manufacture and sales, and other related activities.
(2) Financial position analysis
Total assets as of March 31, 2012 stood at 6,830,144 thousand yen, a decrease of 425,949 thousand yen from the previous
fiscal year end. Current assets stood at 6,743,831 thousand yen, a decrease of 434,560 thousand yen from the previous
fiscal year end, reflecting a decrease of cash and deposits by 454,251 thousand yen due mainly to expenditure for researchand development costs and selling, general and administrative expenses. Fixed assets increased to 86,313 thousand yen by
8,610 thousand yen from the previous fiscal year end primarily because a portion of development costs was capitalized as
long-term prepaid expense.

－1 －SymBio Pharmaceuticals Limited (4582) － Financial Results for the First Quarter of Fiscal Year Ended December 31, 2012
[Japan GAAP] (Non-consolidated)

Liabilities increased to 740,677 thousand yen by 90,148 thousand yen from the previous fiscal year end, reflecting
increases of trade and other accounts payable of 81,846 thousand yen in aggregate.
Net assets stood at 6,089,467 thousand yen, a decrease of 516,097 thousand yen from the previous fiscal year end due to
net loss of 516,458 thousand yen. This results in a decrease of capital-to-asset ratio by 1.8 percentage points from theprevious fiscal year end to 89.2%.

(3) Forecast of financial results
There has been no change to forecast of financial results for the fiscal year ended December 31, 2012 at this point of time.

2. Other Summary Information(1) Additional information(Application of Accounting Standard for Accounting Changes and Error Corrections and its Implementation Guidance)“Accounting Standard for Accounting Changes and Error Correction” (ASBJ Statement No. 24, December 4, 2009) and“Implementation Guidance on Accounting Standard for Accounting Changes and Error Corrections” (ASBJ Guidance No. 24,December 4, 2009) are applied to any accounting changes and errors corrections for prior reporting periods that are madeafter the beginning of the first quarter of Fiscal 2012.

－2 －SymBio Pharmaceuticals Limited (4582) － Financial Results for the First Quarter of Fiscal Year Ended December 31, 2012
[Japan GAAP] (Non-consolidated)

3. Quarterly Financial Statements(1) Quarterly balance sheet(Unit: Thousand yen)
Fiscal 2011

1st Quarter Fiscal 2012

(December 31, 2011)(March 31, 2012)

AssetsCurrent assets
Cash and deposit
Accounts receivable

4,558,714
162,409

4,104,463
158,541

Marketable securitiesMerchandise and finished goods

1,952,533
207,467

1,952,862
185,797

79,038
124,589

86,159170,293

Prepaid expenses
Advance
Other
Total current assets

93,63885,714

7,178,392

6,743,831

Fixed assets
Tangible fixed assets
Building (net)

2,468

2,427

Fixtures and equipment (net)

14,938

13,631

Total tangible fixed assets

17,407

16,058

SoftwareLease assets

9,541
3,189

8,974
3,026

Total intangible fixed assets

12,73012,001

Investments and other assets
Long-term prepaid expense

24,30035,377

Intangible fixed assets

Fixed leasehold deposit and security deposit

23,26422,875

Total investments and other assets

47,56458,252

Total fixed assets

77,70286,313

7,256,094

6,830,144Trade accounts payable
Other accounts payable

308,953
277,898

367,812300,885

Income taxes payable
Other

19,07339,821

7,556
59,713

Total current liabilities

645,746

735,967

2,092

2,186

Total assets
Liabilities
Current liabilities

Long-term liabilities
Allowance for retirement benefits
Other

2,691

2,523

Total long-term liabilities

4,783

4,709

650,529

740,677Total liabilities－3 －SymBio Pharmaceuticals Limited (4582) － Financial Results for the First Quarter of Fiscal Year Ended December 31, 2012
[Japan GAAP] (Non-consolidated)(Unit: Thousand yen)
Fiscal 2011

1st Quarter Fiscal 2012

(December 31, 2011)(March 31, 2012)

Net assets
Shareholders’ equity
Capital stock
Capital surplus

6,024,610
5,994,610

6,024,610
5,994,610

Earned surplus
Treasury shares(5,413,091)(17)(5,929,549)
(17)

(546)

(184)

6,605,564

6,089,467

7,256,094

6,830,144

Total shareholders’ equity

6,606,110

Appraisal and conversion variance, etc.
Other marketable securities appraisal variance(546)

Total appraisal and conversion variance, etc.
Total net assets
Total liabilities and net assets－4 －6,089,652(184)

SymBio Pharmaceuticals Limited (4582) － Financial Results for the First Quarter of Fiscal Year Ended December 31, 2012
[Japan GAAP] (Non-consolidated)(2) Quarterly income statement(Three months ended March 31)(Unit: Thousand yen)First three months of Fiscal 2011 First three months of Fiscal 2012
(From January 1, 2011
to March 31, 2011)(From January 1, 2012
to March 31, 2012)

Net sales

348,103580,816

Cost of sales

264,927

452,405

Gross profit

83,176

128,410

Selling, general and administrative expenses

494,001

609,058

Operating (loss)(410,825)(480,647)

Non-operating income
Interest income

197

459

583
51,891533-

0-52,672

993

Interest expense
Fees

303
5,547

75
2,692

New share issuing expense
Foreign exchange loss

6,958
19,63233,066

IPO preparation costs
Others

2,201
-

18

Total non-operating expenses

34,64235,853(392,795)(515,508)

5,331-Interest on securities
Income from subvention
Other
Total non-operating income
Non-operating expenses

Ordinary (loss)
Extraordinary loss
Impact of application of accounting standard for asset
retirement obligations
Total extraordinary loss

5,331

-

Quarterly (loss) before tax(398,126)(515,508)

950

950

Corporate tax, local inhabitant tax, and local enterprisetax
Total income tax
Net quarterly (loss)

－5 －

950

950

(399,076)(516,458)

SymBio Pharmaceuticals Limited (4582) － Financial Results for the First Quarter of Fiscal Year Ended December 31, 2012
[Japan GAAP] (Non-consolidated)(3) Explanatory note regarding the assumption of the Company as going concern
None to be reported.
(4) Explanatory note regarding significant fluctuation in the shareholders’ equity
None to be reported.
(5) Important subsequent events
1. Issuance of stock options (stock acquisition rights) to the Company’s directors
The resolution was made at the Board of Directors’ meeting held on April 17, 2012 that 3,625 units of stock acquisitionrights (the date of grant: May 2, 2012) should be issued as stock options as compensation to 4 directors of the Company asdescribed in the table below based on the resolution by the General Shareholders’ Meeting held on March 29, 2012. Actual
allotment was made to designated directors on May 2, 2012.
Number of stock acquisition rights
Type and number of shares subject tostock acquisition rights

3,625 units
Common stock, 362,500 shares

Amount paid for stock acquisitionrightsFree of charge

Price of assets invested in theexercise of stock acquisition rights

570 yen per share

Period during which stock

From April 18, 2014

acquisition rights may be exercised

To April 17, 2022
(1) The persons granted must be in a status of director, auditor, or employee of theCompany or any of its affiliates at the time of exercise. However, this is notnecessarily the case if the person granted retires due to the expiry of her/his termor the compulsory retirement, if otherwise the board of directors resolves that
she/he leaves the Company or its affiliates on good terms.
(2) The persons granted may exercise a portion or all of the stock acquisition rights
allotted according to the classification set forth below.

Conditions for the exercise of stockacquisition rights(a) Up to one fourth of stock acquisition rights allotted may be exercised fromApril 18, 2014 to April 17, 2015.
(b) Up to half of stock acquisition rights allotted may be exercised from April 18,
2015 to April 17, 2016.
(c) Up to three fourths of stock acquisition rights allotted may be exercised fromApril 18, 2016 to April 17, 2017.
(d) All of stock acquisition rights allotted may be exercised from April 18, 2017
to April 17, 2022.
(3) Other conditions shall be pursuant to the Stock Acquisition Rights Allotment
Agreement executed between the Company and the eligible directors.

Amount to be contributed to capitalstock in the event of new shareissuance by the exercise of stock

In the event of new share issuance by exercising stock acquisition rights, the amountto be contributed to capital stock shall be half the upper limit amount of an increasein capital stock and capital reserve calculated in accordance with Corporate

acquisition rights

Accounting Rules Article 17, with any fractions less than one yen resulting from suchcalculation rounded up.

Matters related to transfer of stockacquisition rights

Transfer of stock acquisition rights required an approval from the Board of Directors.

－6 －SymBio Pharmaceuticals Limited (4582) － Financial Results for the First Quarter of Fiscal Year Ended December 31, 2012
[Japan GAAP] (Non-consolidated)

2. Issuance of stock options (stock acquisition rights) to the Company’s employees
The resolution was made at the Board of Directors’ meeting held on April 17, 2012 that 4,307 units of stock acquisitionrights (the date of grant: May 2, 2012) should be issued as stock options to 70 employees of the Company as described in thetable below based on the provisions of Articles 236, 238 and 240 of Companies Act. Actual allotment was made to designatedemployees on May 2, 2012.
Number of stock acquisition rights

4,307 units

Class and number of shares subject toCommon stock, 430,700 sharesstock acquisition rights
Amount paid for stock acquisitionrightsPrice of assets invested in theexercise of stock acquisition rights

Free of charge
570 yen per share

Period during which stock acquisition From April 18, 2014
To April 17, 2022
rights may be exercised(1) The persons granted must be in a status of director, auditor, or employee of theCompany or any of its affiliates at the time of exercise. However, this is notnecessarily the case if the person granted retires due to the expiry of her/his termor the compulsory retirement, if otherwise the board of directors resolves thatshe/he leaves the Company or its affiliates on good terms.
(2) The persons granted may exercise a portion or all of the stock acquisition rights

Conditions for the exercise of stockacquisition rights

allotted according to the classification set forth below.
(a) Up to one fourth of stock acquisition rights allotted may be exercised fromApril 18, 2014 to April 17, 2015.
(b) Up to half of stock acquisition rights allotted may be exercised from April 18,
2015 to April 17, 2016.
(c) Up to three fourths of stock acquisition rights allotted may be exercised fromApril 18, 2016 to April 17, 2017.
(d) All of stock acquisition rights allotted may be exercised from April 18, 2017
to April 17, 2022.
(3) Other conditions shall be pursuant to the Stock Acquisition Rights Allotment
Agreement executed between the Company and the eligible employees.

Amount to be contributed to capitalstock in the event of new shareissuance by the exercise of stockacquisition rights
Matters related to transfer of stockacquisition rights

In the event of new share issuance by exercising stock acquisition rights, the amountto be contributed to capital stock shall be half the upper limit amount of an increase incapital stock and capital reserve calculated in accordance with Corporate Accounting
Rules Article 17, with any fractions less than one yen resulting from such calculation
rounded up.
Transfer of stock acquisition rights required an approval from the Board of Directors.

－7 －