​

For the three months

For the six months 

​

​

ended June 30,

​

ended June 30,

​

​

2025

2024

​

2025

2024

Other income

—

—

—

38,401

Research and development

—

(17,842)

—

(1,337,938)

General and administration

—

(36,976)

—

(673,259)

Total operating costs

—

(54,818)

—

(2,011,197)

​

​

​

​

​

​

​

​

​

Operating loss

—

(54,818)

—

(1,972,796)

​

​

​

​

​

​

​

​

​

Finance expense

—

—

—

(5,672)

Net loss before tax

—

(54,818)

—

(1,978,468)

Income tax expense

—

—

—

—

Net loss from discontinued operations

—

(54,818)

—

(1,978,468)

Net gain of the sale of activities after income tax

117,747

14,390,211

117,747

13,961,900

Total net gain from discontinued operations

117,747

14,335,393

117,747

11,983,432

​

For the three months

For the six months

​

​

ended June 30,

​

ended June 30,

​

​

2025

2024

​

2025

2024

Staff costs

—

53,218

—

1,422,184

Depreciation

—

—

—

67,422

External research and development costs

—

1,600

—

333,278

Laboratory consumables

—

—

—

17,735

Patent maintenance and registration costs

—

—

—

62,563

Professional fees

—

—

—

38,271

Short-term leases

—

—

—

8,329

Other operating costs

—

—

—

61,415

Total discontinued operating costs

—

54,818

—

2,011,197

​

For the six months

​

​

Ended June 30,

​

​

2025

2024

Net profit from discontinued operations

117,747

11,983,432

Adjustments for:

Net gain on Neurosterix transaction

(117,747)

(13,961,900)

Value of share-based services

—

327,681

Post-employment benefits

—

(27,338)

Depreciation

—

67,422

Finance cost net

—

5,672

Increase in trade and other receivables

—

(404,940)

Increase in prepayments

—

(151,695)

Increase in other current assets

—

(5,000)

Decrease in payables and accruals

—

(795,215)

Decrease in deferred income

—

(38,401)

Net cash flow used in operating activities

—

(3,000,282)

​

​

​

​

​

Net cash flow from investing activities

Consideration from Neurosterix Transaction

57,673

5,119,754

Legal fees paid for Neurosterix Transaction

—

(452,798)

Net cash from investing activities

57,673

4,666,956

​

​

​

​

​

Cash flows used in financing activities

Principal element of lease payment

—

(63,770)

Interest paid

—

(5,672)

Net cash used in financing activities

—

(69,442)

​

​

​

​

​

Net cash from discontinued activities

57,673

1,597,232

​

For the three months ended June 30,

For the six months ended June 30,

​

2025

2024

2025

2024

Consideration received

​

​

​

​

​

​

​

​

Cash in from Neurosterix Pharma Sàrl sale

​

—

5,000,000

​

—

5,000,000

Fair value of Neurosterix US Holdings LLC’s participation

​

—

9,428,400

​

—

9,428,400

Net gain on Neurosterix Pharma Sàrl derecognition (IFRS 10)

​

—

539,250

​

—

539,250

Retirement benefit obligation of employees leaving the Group (IAS 19) (note 15)

​

—

433,791

​

—

433,791

Faire value of service agreement

​

—

182,348

​

—

182,348

Net debt liabilities related to Neurosterix Pharma Sàrl (IFRS 16)

​

—

11,144

​

—

11,144

Other consideration

​

117,747

—

​

117,747

—

Total Disposal consideration

​

—

15,594,933

​

—

15,594,933

​

​

​

​

​

​

​

​

​

Investment in Neurosterix Pharma Sàrl

​

—

(20,000)

​

—

(20,000)

Legal fees paid for Neurosterix Transaction

​

—

(26,653)

​

—

(454,964)

Accelerating vesting ESOP/DSPPP (note 14)

​

—

(1,158,069)

​

—

(1,158,069)

Total costs related to activities sold

​

—

(1,204,722)

​

—

(1,633,033)

​

​

​

​

​

​

​

​

​

Net gain on sale before income tax

​

117,747

14,390,211

​

117,747

13,961,900

​

​

​

​

​

​

​

​

​

Income tax expense on gain

​

—

—

​

—

—

​

​

​

​

​

​

​

​

​

Net gain on sale after income tax

​

117,747

14,390,211

​

117,747

13,961,900