The grant program commences from July 1, 2015. Accordingly, the received initial grant deposit is expected to be recorded in the 2015 second quarter disclosure as unearned revenue on the balance sheet.
It should be noted that the effects of this matter on the Company's consolidated earnings forecast are considered to be non-material.
About GNI
GNI Group Ltd. is a vertical integrated pharmaceutical company focused on research, development, manufacture, and commercialization of therapeutic agents for endemic diseases in Asia. In addition to its CFDA Class 1.1 approved drug Etuary®, the only approved therapy for Idiopathic Pulmonary Fibrosis, GNI has a robust drug development pipeline focused on innovative therapeutic agents for diseases including radiation pneumonitis, diabetic nephropathy, liver fibrosis (cirrhosis), acute-on-chronic liver failure (ACLF) and chronic obstructive pulmonary disease (COPD). GNI is listed on the Tokyo Stock Exchange Mothers Market, Code 2160, with headquarters in Tokyo and subsidiaries in Hong Kong, Shanghai, Beijing and the United States. For further information, please visit www.gnipharma.com.
For further inquiries+81 (03) -6214-3600
Email: infojapan@gnipharma.com
This press release contains "forward-looking" statements, including statements related to GNIG's plans to pursue development of product candidates and the timing thereof. Any statements contained in this press release that are not statements of historical fact may be deemed to be forward-looking statements. Words such as "continue," "expected to", "will" and similar expressions are intended to identify these forward-looking statements. There are a number of important factors that could cause GNIG's results to differ materially from those indicated by these forward-looking statements, including risks associated with the timing and success of clinical trials and the commercialization of product candidates. GNIG does not undertake any obligation to update forward-looking statements.
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