v3.25.4
Consolidated Statements of Cash Flows - CHF (SFr)
SFr in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Operating activities      
Loss for the period SFr (70,447) SFr (50,916) SFr (54,233)
Adjustments to reconcile net loss for the period to net cash flows:      
Depreciation of property, plant and equipment 1,393 1,485 1,672
Depreciation of right-of-use assets 1,110 677 543
Finance (income)/expense, net 803 57 922
Share-based compensation expense 4,396 5,470 4,365
Change in net employee defined benefit liability (1,551) (10) 888
Interest expense 189 131 176
(Gain)/loss on lease modifications (73)    
(Gain)/loss on sale of fixed assets (15)    
Changes in working capital:      
(Increase)/decrease in prepaid expenses 330 2,135 (1,748)
(Increase)/decrease in accrued income 739 (853) 162
(Increase)/decrease in accounts receivable   14,800 (14,800)
(Increase)/decrease in other current receivables 180 (396) (232)
(Decrease)/increase in accrued expenses (3,861) 1,373 1,137
(Decrease)/increase in deferred contract revenue, short-term (1,350) 85,056  
(Decrease)/increase in deferred income   (138) (449)
(Decrease)/increase in trade and other payables (592) 977 770
(Decrease)/increase in deferred contract revenue, long-term (2,221) 4,560  
Cash provided by/(used in) operating activities (70,970) 64,408 (60,827)
Interest received 1,897 1,563 595
Interest paid (174) (113) (163)
Finance expenses paid (15) (16) (13)
Net cash flows provided by/(used in) operating activities (69,262) 65,842 (60,408)
Investing activities      
Short-term financial assets, net 64,597 (104,660) 66,446
Purchases of property, plant and equipment (900) (576) (801)
Proceeds from sale of property, plant and equipment 15    
Rental deposits (170) (54) 0
Net cash flows provided by/(used in) investing activities 63,542 (105,290) 65,645
Financing activities      
Proceeds from public offerings of common shares, net of underwriting fees and transaction costs     41,056
Proceeds from sale of treasury shares in public offerings, net of underwriting fees and transaction costs   104 2,677
Proceeds from issuance of common shares - equity plan, net of transaction costs 6 7 65
Transaction costs and stamp duty associated with the public offerings of common shares previously recorded in Accrued expenses   (521)  
Transaction costs associated with the sale of treasury shares in public offering previously recorded in Accrued expenses   (27)  
Principal payments of lease obligations (1,026) (683) (548)
Net cash flows (used in)/provided by financing activities (1,020) (1,120) 43,250
Net increase/(decrease) in cash and cash equivalents (6,740) (40,568) 48,487
Cash and cash equivalents at January 1 36,275 78,494 31,586
Exchange gain/(loss) on cash and cash equivalents (2,740) (1,651) (1,579)
Cash and cash equivalents at December 31 26,795 36,275 78,494
Supplemental non-cash activity      
Capital expenditures in Trade and other payables or Accrued expenses SFr 15 SFr 184  
Transaction costs and stamp duty associated with the public offerings of common shares recorded in Accrued expenses     521
Transaction costs associated with the sale of treasury shares in public offering recorded in Accrued expenses     SFr 27