v3.25.4
Summary of material accounting policies (Tables)
 12 Months Ended
Dec. 31, 2025
Disclosure Of Significant Accounting Policies [Abstract]  
Disclosure of Detailed Information about Property, Plant and Equipment The applicable estimated useful lives are as follows:
Laboratory equipment:5 years
Office equipment:3 years
IT hardware:2 years
in CHF thousandsLab equipmentOffice equipmentIT hardwareRight-of-use assetsLeasehold improvementsTotal
2025
Cost
At January 1, 202510,002 764 1,448 9,616 633 22,463 
Additions662 — 52 2,414 — 3,128 
Disposals(61)— (427)— — (488)
At December 31, 202510,602 764 1,074 12,030 633 25,103 
Accumulated depreciation
At January 1, 2025(8,658)(645)(1,242)(7,215)(504)(18,265)
Depreciation charge for the year(601)(54)(176)(1,201)(66)(2,097)
Disposals61 — 427 — — 488 
At December 31, 2025(9,198)(699)(991)(8,416)(570)(19,874)
Carrying amount at December 31, 20251,405 65 83 3,614 63 5,229 
in CHF thousandsLab equipmentOffice equipmentIT hardwareRight-of-use assetsLeasehold improvementsTotal
2024
Cost
At January 1, 20249,740 723 1,311 9,616 633 22,023 
Additions356 145 204 — — 705 
Disposals(94)(104)(67)— — (265)
At December 31, 202410,002 764 1,448 9,616 633 22,463 
Accumulated depreciation
At January 1, 2024(8,068)(700)(1,125)(6,015)(434)(16,342)
Depreciation charge for the year(684)(49)(184)(1,200)(70)(2,188)
Disposals94 104 67 — — 265 
At December 31, 2024(8,658)(645)(1,242)(7,215)(504)(18,265)
Carrying amount at December 31, 20241,344 119 206 2,401 128 4,198 
Disclosure of Timing of Revenue Recognition by Type of Payments Received
Type of payments receivedTiming of revenue recognition
Revenue recognition of upfront paymentsUpfront payments received in connection with out-licensing arrangements are typically non-refundable fees for which the Group does not transfer a good or a service to the customer, rather the upfront payments consists of an advance payment for future services and/or an acquisition of the right to the current or future access to the underlying intellectual property of the Group. For such arrangements, the Group has determined that the promised goods and services are not distinct and are accounted for as one performance obligation. The Group recognizes revenue for this performance obligation over time using an input based method to measure its progress towards complete satisfaction of the performance obligation.
Revenue recognition of milestone paymentsMilestone payments received in connection with out-licensing or other arrangements are typically non-refundable fees entitling the Group to a right to payment upon such milestone being met. At that time, the customer has typically acquired the right to use the underlying intellectual property or additional knowledge about drug candidate(s), without any remaining performance obligation of the Group. Considering the uncertainty surrounding the outcome of such development activities, the revenue is consequently recognized at a point in time, when the milestone is reached. At this stage it is highly probable that a reversal of the cumulative revenue will not occur.
Revenue recognition of payments received for development options exercisesDevelopment option payments received in connection with out-licensing arrangements are typically non-refundable fees entitling the Group to a right to payment upon such option being exercised. At that time, the customer has typically acquired the right to use the underlying intellectual property, without any remaining performance obligations of the Group. Considering the fact that the exercise of any option is outside the control of the Group, revenue for options that provide the right to use is recognized at a point in time at the effective exercise of the option. At this stage it is highly probable that a reversal of the cumulative revenue will not occur.
Revenue recognition for reservation feesReservation fees received are typically non-refundable fees. The timing of revenue recognition depends on whether development of the final drug is successful. If development is successful, revenue will be recognized when the related reservation right is exercised or lapses (as the exercise of any reservation right is outside the control of the Group). Alternatively, revenue will be recognized at the point in time when the results from the research will not justify further development of the drug. At this stage it is highly probable that a reversal of the cumulative revenue will not occur.