Notes to the interim condensed consolidated statement of income (loss) (Tables)
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6 Months Ended |
Jun. 30, 2026 |
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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 | (in thousands of euros) | | June 30, 2025 | | June 30, 2026 | Revenue | | 4,454 | | 20 | Total revenues | | 4,454 | | 20 | CIR | | 1,125 | | 839 | Subsidies | | — | | 5 | Other | | 32 | | 442 | Total other income | | 1,156 | | 1,286 | Total revenues and other income | | 5,610 | | 1,305 |
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| Schedule of operating expenses |
| | | | | | | | | | | Six months ended June 30, 2026 | | | | | Marketing – | | | | | | | Research and | | business | | General and | | | | | development | | development | | administrative | | | (in thousands of euros) | | expenses | | expenses | | expenses | | Total | Studies | | (32,610) | | — | | — | | (32,610) | Personnel costs | | (10,396) | | (955) | | (12,970) | | (24,321) | Fees | | (173) | | — | | (5,219) | | (5,392) | Depreciation, amortization and provisions | | (1,216) | | — | | (190) | | (1,406) | Support costs (including taxes) | | — | | — | | (437) | | (436) | Insurance | | — | | — | | (871) | | (871) | IT systems | | (569) | | (8) | | (39) | | (617) | Patents | | (470) | | — | | — | | (470) | Energy and liquids | | (114) | | — | | — | | (114) | Maintenance | | (51) | | — | | — | | (51) | Disposables | | (31) | | — | | — | | (31) | Other(1) | | (609) | | (1,626) | | (2,522) | | (4,757) | Total operating expenses | | (46,238) | | (2,589) | | (22,247) | | (71,074) |
| (1) | Other expenses primarily consist of costs related to the commercial development of lanifibranor. Please note these expenses are different from the “Other operating expenses” presented in Note 5.3 – Other operating income and expenses. |
| | | | | | | | | | | Six months ended June 30, 2025 | | | Research and | | Marketing – | | General and | | | | | development | | Business | | administrative | | | (in thousands of euros) | | expenses | | development | | 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) | Support costs (including taxes) | | — | | — | | (330) | | (330) | Insurance | | — | | — | | (792) | | (792) | IT systems | | (414) | | (10) | | (55) | | (479) | Patents | | (343) | | — | | — | | (343) | Energy and liquids | | (402) | | — | | — | | (402) | Maintenance | | (177) | | — | | — | | (177) | Disposables | | (210) | | — | | — | | (210) | Other | | (327) | | (663) | | (1,866) | | (2,855) | Total operating expenses | | (44,890) | | (746) | | (14,713) | | (60,349) |
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| Schedule of personnel costs and headcount |
| | | | | | | | | | | Six months ended June 30, 2026 | | | | | Marketing - | | | | | | | Research and | | business | | General and | | | 2026 | | development | | development | | administrative | | | (in thousands of euros) | | expenses | | expenses | | expenses | | Total | Wages, salaries and similar costs | | (5,155) | | (417) | | (3,308) | | (8,880) | Payroll taxes | | (1,694) | | (79) | | (1,834) | | (3,606) | Provisions for retirement benefit obligations | | (37) | | — | | (44) | | (82) | Share-based compensation expense | | (3,509) | | (460) | | (7,784) | | (11,753) | Total personnel costs | | (10,396) | | (955) | | (12,970) | | (24,321) |
| | | | | | | | | | | six months ended June 30, 2025 | | | | | Marketing - | | | | | | | Research and | | business | | General and | | | 2025 | | development | | development | | administrative | | | (in thousands of 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) |
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| Schedule of other operating income and expenses |
| | | | | | | Six months ended | (in thousands of euros) | | June 30, 2025 | | June 30, 2026 | Gain on disposals of assets | | 381 | | 151 | Total other operating income | | 381 | | 151 | Penalties | | — | | (1) | Restructuring expenses | | (4,190) | | (122) | Provisions - Restructuring | | (3,106) | | — | Provisions - Litigations | | — | | (614) | Share-based compensation expense | | (1,288) | | — | Allowance for doubtful accounts | | — | | (33) | Total other operating expenses | | (8,583) | | (769) | Other operating income (loss) | | (8,202) | | (619) |
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| Schedule of financial income and expenses |
| | | | | | | Six months ended | (in thousands of euros) | | June 30, 2025 | | June 30, 2026 | Income from cash equivalents | | 1,246 | | 2,215 | Foreign exchange gains | | 1,181 | | 3,230 | Gains on derecognition of Legacy EIB Warrants | | — | | 68,454 | Gains on fair value of Convertible option (Convertible Bonds) | | — | | 1,012 | Total financial income | | 2,427 | | 74,910 | Interest cost | | (9,716) | | (14,460) | Catch-up impact of the EIB debt remeasurement | | — | | (5,517) | Foreign exchange losses | | (3,266) | | (669) | Losses on fair value variation remeasurement of Legacy EIB Warrants | | (102,640) | | (8,569) | Loss on derecognition of emaining EIB warrant settlement obligation | | — | | (40,744) | Losses on fair value variation of Lenders’ Warrants | | — | | (3,475) | Loss on initial measurement at fair value of the Lenders’ Tranche B cash collateral deposit | | — | | (555) | Other financial expenses | | (30) | | (15) | Total financial expenses | | (115,651) | | (74,004) | Net financial income (loss) | | (113,224) | | 907 |
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| Schedule of share of net profit (loss) - Equity method |
| | | | | | (in thousands of euros) | | June 30, 2025 | | June 30, 2026 | | General and administrative expenses | | (2,155) | | (1,624) | | Net operating loss | | (2,155) | | (1,624) | | Financial income | | 2 | | 32 | | Financial expenses | | (5) | | (49) | | Net financial income | | (3) | | (17) | | Net loss for the period | | (2,158) | | (1,642) | | Exchange difference on translation of foreign operations | | (573) | | (70) | | Items that will be reclassified subsequently to profit or loss | | (573) | | (70) | | Total comprehensive loss | | (2,732) | | (1,712) | | Group’s share in % | | 15 | % | 14 | % | Share of net loss | | (334) | | (227) | | Elimination of downstream sales | | 113 | | 54 | | Share of net loss - Equity method | | (220) | | (172) | |
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| Schedule of basic and diluted loss per share |
| | | | | | | Six months ended | in euros except net result (in thousands of euros) | | June 30, 2025 | | June 30, 2026 | Net loss for the period | | (175,882) | | (69,467) | Weighted average number of shares outstanding used to calculate basic/diluted loss per share(1) | | 108,839,636 | | 273,582,870 | Basic/diluted loss per share | | (1.62) | | (0.25) |
| (1) | In accordance with IAS 33.19, basic/diluted earnings per share exclude treasury shares held by the Company. In accordance with IAS 33.24, issued T1 BSAs, T1bis BSAs and T2 BSAs are included at the denominator as these are exercisable for little or no consideration after vesting. |
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