Notes to the interim condensed consolidated statement of (income) loss (Tables)
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6 Months Ended |
Jun. 30, 2025 |
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| Notes to the interim condensed consolidated statement of (income) loss |
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| Schedule of revenues and other income |
| | | | | | | Six months ended | | | June 30, 2024 | | June 30, 2025 | Revenue | | 41 | | 4,454 | Total revenues | | 41 | | 4,454 | CIR | | 2,630 | | 1,125 | Subsidies | | 5 | | — | Other | | 58 | | 32 | Total other income | | 2,693 | | 1,156 | Total revenues and other income | | 2,734 | | 5,610 |
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| Schedule of operating expenses |
| | | | | | | | | | | | | Marketing – | | | | | | | Research and | | business | | General and | | | June 30, 2025 | | development | | development | | administrative | | | (in thousands of euros) | | expenses | | expenses | | expenses | | Total | Studies | | (34,487) | | — | | — | | (34,487) | Personnel costs | | (6,811) | | (73) | | (8,300) | | (15,184) | Fees | | (141) | | — | | (3,247) | | (3,387) | Depreciation, amortization and provisions | | (1,580) | | — | | (124) | | (1,704) | Insurance | | — | | — | | (792) | | (792) | IT systems | | (414) | | (10) | | (55) | | (479) | Energy and liquids | | (402) | | — | | — | | (402) | Patents | | (343) | | — | | — | | (343) | Support costs (including taxes) | | — | | — | | (330) | | (330) | Maintenance | | (177) | | — | | — | | (177) | Disposables | | (210) | | — | | — | | (210) | Other | | (327) | | (663) | | (1,866) | | (2,855) | Total operating expenses | | (44,890) | | (746) | | (14,713) | | (60,349) |
4 The Company invoiced €9.4 million on May 9, 2025 (corresponds to the milestone payment of €8.9 million euros, and an additional invoicing of €0.5 million) and received on July 7, 2025, €8.1 million after deduction of withholding tax for €0.9 million. The exchange rate on the invoice date was 1.125 dollar for one euro. The exchange rate on the closing date was 1.172 dollar for one euro. 5 The aggregate amount of the three credit notes was €4.4 million on May 9, 2025, and €4.3 million on June 30, 2025. For the six months ended June 30, 2024 | | | | | | | | | | | Research and | | Marketing – | | General and | | | June 30, 2024 | | development | | Business | | administrative | | | (in thousands of euros) | | expenses | | development | | expenses | | Total | Studies | | (34,073) | | — | | — | | (34,073) | Personnel costs | | (7,637) | | (153) | | (2,600) | | (10,391) | Fees | | (118) | | (2) | | (2,675) | | (2,795) | Depreciation, amortization and provisions | | (1,732) | | — | | (122) | | (1,854) | Insurance | | — | | — | | (921) | | (921) | IT systems | | (405) | | (6) | | (33) | | (444) | Energy and liquids | | (447) | | — | | — | | (447) | Patents | | (643) | | — | | — | | (643) | Support costs (including taxes) | | — | | — | | (375) | | (375) | Maintenance | | (526) | | — | | — | | (526) | Disposables | | (887) | | — | | — | | (887) | Other | | (352) | | (437) | | (975) | | (1,764) | Total operating expenses | | (46,822) | | (598) | | (7,701) | | (55,122) |
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| Schedule of personnel costs |
| | | | | | | | | | | | | Marketing - | | | | | | | Research and | | business | | General and | | | June 30, 2025 | | development | | development | | administrative | | | (in thousands euros) | | expenses | | expenses | | expenses | | Total | Wages, salaries and similar costs | | (4,139) | | (65) | | (1,716) | | (5,920) | Payroll taxes | | (1,675) | | (8) | | (1,549) | | (3,232) | Provisions for retirement benefit obligations | | 255 | | — | | 435 | | 690 | Share-based compensation expense | | (1,251) | | — | | (5,470) | | (6,721) | Total personnel costs | | (6,811) | | (73) | | (8,300) | | (15,184) |
| | | | | | | | | | | | | Marketing - | | | | | | | Research and | | business | | General and | | | June 30, 2024 | | development | | development | | administrative | | | (in thousands euros) | | expenses | | expenses | | expenses | | Total | Wages, salaries and similar costs | | (4,824) | | (120) | | (1,237) | | (6,181) | Payroll taxes | | (1,312) | | (10) | | (563) | | (1,886) | Provisions for retirement benefit obligations | | (51) | | — | | (35) | | (86) | Share-based compensation expense | | (1,450) | | (24) | | (765) | | (2,238) | Total personnel costs | | (7,637) | | (153) | | (2,600) | | (10,391) |
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| Schedule of other operating income and expenses |
| | | | | | | Six months ended | In thousands of euros | | June 30, 2024 | | June 30, 2025 | Use of provisions - Inventory | | — | | 381 | Disposals of assets | | 160 | | — | Total other operating income | | 160 | | 381 | Disposals of tangible and intangible fixed assets | | (8) | | — | Restructuring expenses | | — | | (4,190) | Provisions - Restructuring | | — | | (3,106) | Share-based compensation expense | | — | | (1,288) | Transaction costs | | (14) | | — | Total other operating expenses | | (22) | | (8,583) | Other operating income (loss) | | 138 | | (8,202) |
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| Schedule of financial income and expenses |
| | | | | | | Six months ended | In thousands of euros | | June 30, 2024 | | June 30, 2025 | Income from cash equivalents | | 430 | | 1,246 | Foreign exchange gains | | 157 | | 1,181 | Gain on fair value variation | | 8,506 | | — | Total financial income | | 9,093 | | 2,427 | Interest cost | | (5,218) | | (9,716) | Foreign exchange losses | | (323) | | (3,266) | Losses on fair value variation | | — | | (102,640) | Other financial expenses | | (46) | | (30) | Total financial expenses | | (5,586) | | (115,651) | Net financial income (loss) | | 3,507 | | (113,224) |
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| Schedule of share of net profit - Equity method |
| | | | | | | | Six months ended | | (in thousands of euros) | | June 30, 2024 | | June 30, 2025 | | Research and development costs | | (51) | | 0 | | General and administrative expenses | | (1,475) | | (2,155) | | Net operating loss | | (1,526) | | (2,155) | | Financial income | | 20 | | 2 | | Financial expenses | | (3) | | (5) | | Net financial income | | 17 | | (3) | | Income (expense) tax | | — | | — | | Net loss for the period | | (1,509) | | (2,158) | | Exchange difference on translation of foreign operations | | (1,964) | | (573) | | Items that will be reclassified subsequently to profit or loss | | (1,964) | | (573) | | Total comprehensive loss | | (3,473) | | (2,732) | | Group’s share in % | | 15 | % | 15 | % | Share of net loss | | (235) | | (334) | | Elimination of downstream sales | | 66 | | 113 | | Share of net loss - Equity method | | (168) | | (220) | |
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| Schedule of basic and diluted loss per share |
| | | | | | | Six months ended | in euros, except net income (in thousands of euros) | | June 30, 2024 | | June 30, 2025 | Net loss for the period | | (49,029) | | (175,882) | Weighted average number of shares outstanding used to calculate basic/diluted loss per share(1) | | 51,982,093 | | 108,839,636 | Basic/diluted loss per share | | (0.94) | | (1.62) |
(1) | In accordance with IAS 33.19, basic/diluted earnings per share exclude treasury shares held by the Group as of June 30, 2025 and 2024. |
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