Nxera Pharma Posts $175 Million Q3 Revenue as Ten R&D Milestones Lift Results

Nxera Pharma reported third-quarter 2026 revenue of JPY 27,742 million (US$175 million), an increase of JPY 5,894 million from the prior corresponding period, driven by ten R&D milestones. The company said in its GlobeNewswire results release that the milestone count compared with six in the prior period.

Nxera's Milestones and Lucerastat Option

Nxera Pharma is a Tokyo-headquartered biopharmaceutical company that uses its NxWave GPCR structure-based drug discovery platform to develop therapeutics and commercializes PIVLAZ and QUVIVIQ in Japan and the Asia-Pacific region, according to company records.

Chris Cargill, President and CEO of Nxera, said: "These achievements demonstrate that our drug discovery, development and partnering strategy is delivering tangible results and strengthening the foundation for future growth."

Under its collaboration with Neurocrine Biosciences, Nxera achieved a US$10 million milestone following progress in the development of NBI-1117567, an M1 receptor agonist for cognitive impairment associated with Alzheimer's disease. A further US$8.6 million milestone was achieved following late-stage development progress in the orexin receptor 2 agonist program originating from its collaboration with Centessa Pharmaceuticals, which was acquired by Eli Lilly and Company.

Since the end of the third quarter, Nxera exercised its option to in-license lucerastat, a treatment candidate for Fabry disease, from Idorsia and entered a co-development and commercialization agreement. Nxera will pay Idorsia an upfront payment of CHF 7 million and holds exclusive rights in Japan, South Korea, Taiwan and selected other Asia-Pacific markets, excluding China. Idorsia announced a proposed SPV partnership to fund TRYVIO/JERAYGO commercialization with CHF 120 million, split between noteholders and the company, according to TradingView.

Nxera's Financial Results for the Nine Months

According to akta.pro company records, Nxera's FY2025 total revenue was JPY 29.6 billion (about US$197.9 million), up from JPY 28.8 billion year-on-year. PIVLAZ commercial revenue was JPY 13,511 million (US$90.3 million), up 6.8% year-on-year, while QUVIVIQ commercial revenue was JPY 4,327 million (US$28.9 million), up 223.9% year-on-year.

For the nine months ended September 30, 2026, Nxera reported operating profit of JPY 3,175 million (US$20.0 million), compared with an operating loss of JPY 5,907 million in the prior corresponding period. Net profit was JPY 2,328 million (US$14.7 million), versus a net loss of JPY 4,809 million a year earlier. Cash and cash equivalents stood at JPY 16,613 million (US$105.6 million) as of September 30, 2026.

Nxera's Path to the Third Quarter

In August 2026, Nxera reported first-half GAAP earnings per share of ¥15.86 and revenue of ¥18.91 billion, a 25.3% year-over-year increase, according to Seeking Alpha. That month, Neurocrine Biosciences received FDA IND acceptance for a Phase 2 study of NBI-1117567 for Alzheimer's cognition, Yahoo reported. In June 2026, Nxera said it would receive a US$10 million milestone payment from AbbVie under their collaboration targeting neurological diseases, according to GlobeNewswire.

Nxera's Regulatory Targets in South Korea

Nxera is targeting regulatory approval in South Korea for vamorolone in 2027 and commercial launch in 2028. The global Phase 3 development program for lucerastat is expected to support a regulatory filing as early as 2029.