v3.25.2
Unaudited Condensed Consolidated Statements of Cash Flows - EUR (€)
 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Operating activities    
Loss for the period € (22,730,298) € (23,502,977)
Adjustments for:    
Depreciation & amortization of property and equipment, right-of-use assets and intangible assets 228,801 262,932
Net finance income (3,192,828) (4,382,376)
Share-based payment expense 3,588,514 3,073,813
Net foreign exchange differences and other adjustments 1,518,421 (101,055)
Changes in:    
Other assets from government grants and research allowances (782,175)
Other assets and trade receivables (408,339) 1,189,849
Employee benefits (950,043) (484,102)
Other liabilities 60,068 (2,711,447)
Trade and other payables (1,658,576) (3,429,460)
Inventories 1,859,251 1,723,566
Interest received 906,087 1,369,670
Interest paid (7,652) (11,048)
Net cash used in operating activities (21,568,767) (27,002,634)
Investing activities    
Purchase of intangible assets, property and equipment (25,673) (28,310)
Purchase of current financial assets (35,514,042) (23,254,210)
Proceeds from the maturity of financial assets 28,288,912 56,221,278
Net cash from / (used in) investing activities (7,250,803) 32,938,758
Financing activities    
Proceeds from issuance of ordinary shares 16,143,686
Proceeds from pre-funded warrants 12,915,909
Transaction costs from issuance of ordinary shares and pre-funded warrants (1,949,998)
Repayment of lease liabilities (199,904) (193,053)
Net cash from / (used in) financing activities 26,909,693 (193,053)
Net increase/decrease in cash and cash equivalents (1,909,878) 5,743,071
Effect of exchange rate changes on cash and cash equivalents (3,462,651) 641,107
Cash and cash equivalents at beginning of period 18,375,979 12,767,943
Cash and cash equivalents at end of period € 13,003,450 € 19,152,121