Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

Pan-Asia Catalysts/Events

Quiddity Advisors

Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/sumitomo-pharma-co" target="_blank" data-smartkarma-citation="entities:1935:1" rel="noopener">Sumitomo Pharma (4506 JP)</a> is coming out of its earnings funk from 2023-2024. The stock has risen sharply off lows. Now the company has put out its hat.</li>
<li>They want to sell 59.0mm shares (against 385mm or so now) which is about 15% of shares out, and a whopping 65+% of (active voting rights) Max Real World Float.</li>
<li>There is index impact near-term and further out, and there are shorts to be covered. But this is heavily dilutive to the active Max Real World Float. </li>
</ul>



Sumitomo Pharma (4506 JP) is coming out of its earnings funk from 2023-2024. The stock has risen sharply off lows. Now the company has put out its hat.
They want to sell 59.0mm shares (against 385mm or so now) which is about 15% of shares out, and a whopping 65+% of (active voting rights) Max Real World Float.
There is index impact near-term and further out, and there are shorts to be covered. But this is heavily dilutive to the active Max Real World Float. 


[Japan Offering] Sumitomo Pharma (4506) Issuing ¥100bn of New Shares for Investments

APAC IPOs & Placements, Aequitas Research

Nicholas Tan

APAC IPOs & Placements

IPOs and Placements coverage across Asia Pacific

Aequitas Research

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

<ul>
<li>
<a href="https://www.smartkarma.com/entities/sumitomo-pharma-co" target="_blank" data-smartkarma-citation="entities:1935:1" rel="noopener">Sumitomo Pharma (4506 JP)</a> is looking to raise US$664m in a primary offering.</li>
<li>Proceeds will be used for R&amp;D in oncology, neurodegenerative and infectious diseases, and  investments in regenerative medicine/cell therapy.</li>
<li>In this note, we will talk about the placement and run the deal through our ECM framework.</li>
</ul>



Sumitomo Pharma (4506 JP) is looking to raise US$664m in a primary offering.
Proceeds will be used for R&amp;D in oncology, neurodegenerative and infectious diseases, and  investments in regenerative medicine/cell therapy.
In this note, we will talk about the placement and run the deal through our ECM framework.


Aequitas Research: Sumitomo Pharma Placement - Good Financial Performance Recently; Small in ADV

Global Healthcare Analyst

Tina Banerjee

Equity Bottom-Up

<ul>
<li>
<a href="https://www.smartkarma.com/entities/sumitomo-pharma-co" target="_blank" data-smartkarma-citation="entities:1935:1" rel="noopener">Sumitomo Pharma (4506 JP)</a> revised its consolidated financial forecasts for FY26, which were announced on October 31, 2025.</li>
<li>Revenue has been revised upward by ¥20B to ¥449B, reflecting higher sales of products such as Gemtesa in the North America segment, as well as positive impact of weaker yen.</li>
<li>Sumitomo Pharma has filed the shelf registration statement regarding the issuance of new shares. The scheduled amount of issuance will not be more than ¥140B.</li>
</ul>



Sumitomo Pharma (4506 JP) revised its consolidated financial forecasts for FY26, which were announced on October 31, 2025.
Revenue has been revised upward by ¥20B to ¥449B, reflecting higher sales of products such as Gemtesa in the North America segment, as well as positive impact of weaker yen.
Sumitomo Pharma has filed the shelf registration statement regarding the issuance of new shares. The scheduled amount of issuance will not be more than ¥140B.


2026 High Conviction Update: Sumitomo Pharma (4506 JP): Guidance Revised, “Boost 2028” Plan Unveiled

<ul>
<li>
<a href="https://www.smartkarma.com/entities/sumitomo-pharma-co" target="_blank" data-smartkarma-citation="entities:1935:1" rel="noopener">Sumitomo Pharma (4506 JP)</a> revenue was up 19% YoY to ¥347.7B in 9MFY26 on the back of continued strong sales in North America (up 44% YoY to ¥257.5B).</li>
<li>Orgovyx (revenue jumped 100% YoY to ¥115.6B) witnessed solid patient growth in medicare patients while Gemtesa (revenue rose 67.5% to ¥72.3B) improved market share.</li>
<li>Sumitomo Pharma is well on track, focused on expanding revenue, reducing costs, and securing future business drivers.</li>
</ul>



Sumitomo Pharma (4506 JP) revenue was up 19% YoY to ¥347.7B in 9MFY26 on the back of continued strong sales in North America (up 44% YoY to ¥257.5B).
Orgovyx (revenue jumped 100% YoY to ¥115.6B) witnessed solid patient growth in medicare patients while Gemtesa (revenue rose 67.5% to ¥72.3B) improved market share.
Sumitomo Pharma is well on track, focused on expanding revenue, reducing costs, and securing future business drivers.


2026 High Conviction Update: Sumitomo Pharma (4506 JP): Key Drugs Shine; FY26 Guidance Reiterated

<ul>
<li>
<a href="https://www.smartkarma.com/entities/sumitomo-pharma-co" target="_blank" data-smartkarma-citation="entities:1935:1" rel="noopener">Sumitomo Pharma (4506 JP)</a> will present updated clinical trial data of Enzomenib (for AML) and Nuvisertib (for Meylofibrosis). Both drug candidates hold strong future potential.</li>
<li>The company revised FY26 revenue guidance upward to ¥429B backed by continued strong sales in North America (+56% to ¥163B). Orgovyx witnessed solid patient growth while Gemtesa improved market share.</li>
<li>After largely remaining beaten down in the past few years Sumitomo stock has only begun to gain momentum in recent past. We feel it has still got an upside potential.</li>
</ul>



Sumitomo Pharma (4506 JP) will present updated clinical trial data of Enzomenib (for AML) and Nuvisertib (for Meylofibrosis). Both drug candidates hold strong future potential.
The company revised FY26 revenue guidance upward to ¥429B backed by continued strong sales in North America (+56% to ¥163B). Orgovyx witnessed solid patient growth while Gemtesa improved market share.
After largely remaining beaten down in the past few years Sumitomo stock has only begun to gain momentum in recent past. We feel it has still got an upside potential.


2026 High Conviction: Sumitomo Pharma (4506 JP) – Enzomenib Progress and Reboot Strategy Hold Key

Japan

Sumitomo Dainippon Pharma Co., Ltd. mainly manufactures and markets pharmaceuticals for human and veterinary use. The Company also produces and sells livestock feeds, food additives, and chemical products, as well as conducts clinical pathology tests for animals. Sumitomo Dainippon Pharma conducts businesses across worldwide.

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Sumitomo Pharma (4506 JP)

[Japan Offering] Sumitomo Pharma (4506) Issuing ¥100bn of New Shares for Investments

Sumitomo Pharma is raising ¥115bn in a 55/45 split domestic/intl offering. This is 15% of shares out and 65+% of Max Real World Float. There are...

Travis Lundy

Aequitas Research: Sumitomo Pharma Placement - Good Financial Performance Recently; Small in ADV

Sumitomo Pharma is looking to raise US$664m in a primary offering. In this note, we will talk about the placement and run the deal through our ECM...

Nicholas Tan

2026 High Conviction Update: Sumitomo Pharma (4506 JP): Guidance Revised, “Boost 2028” Plan Unveiled

Sumitomo Pharma obtained conditional and time limited approval in Japan for the manufacturing and marketing of allogeneic iPS cell derived...

Tina Banerjee

2026 High Conviction Update: Sumitomo Pharma (4506 JP): Key Drugs Shine; FY26 Guidance Reiterated

Sumitomo Pharma and RACTHERA (JV with Sumitomo Chemicals) announced that the regenerative medical product Amchepry has been listed as an item for...

Tina Banerjee

2026 High Conviction: Sumitomo Pharma (4506 JP) – Enzomenib Progress and Reboot Strategy Hold Key

Sumitomo Pharma is well on track focused on expanding revenue, reducing costs, and securing future business drivers. We feel even after the run up...

Tina Banerjee

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[Japan Offering] Sumitomo Pharma (4506) Issuing ¥100bn of New Shares for Investments

Sumitomo Pharma is raising ¥115bn in a 55/45 split domestic/intl offering. This is 15% of shares out and 65+% of Max Real World Float. There are...

Travis Lundy

Aequitas Research: Sumitomo Pharma Placement - Good Financial Performance Recently; Small in ADV

Sumitomo Pharma is looking to raise US$664m in a primary offering. In this note, we will talk about the placement and run the deal through our ECM...

Nicholas Tan

2026 High Conviction Update: Sumitomo Pharma (4506 JP): Guidance Revised, “Boost 2028” Plan Unveiled

Sumitomo Pharma obtained conditional and time limited approval in Japan for the manufacturing and marketing of allogeneic iPS cell derived...

Tina Banerjee

2026 High Conviction Update: Sumitomo Pharma (4506 JP): Key Drugs Shine; FY26 Guidance Reiterated

Sumitomo Pharma and RACTHERA (JV with Sumitomo Chemicals) announced that the regenerative medical product Amchepry has been listed as an item for...

Tina Banerjee

2026 High Conviction: Sumitomo Pharma (4506 JP) – Enzomenib Progress and Reboot Strategy Hold Key

​Sumitomo Pharma is well on track focused on expanding revenue, reducing costs, and securing future business drivers. We feel even after the run up...

Tina Banerjee

Sumitomo Pharma is well on track focused on expanding revenue, reducing costs, and securing future business drivers. We feel even after the run up...