Finance Income and Finance Expense

12 Months Ended

Dec. 31, 2017

Research and Development Expense/General and Administrative Expense/Finance Income and Finance Expense [Abstract]

Finance income and finance expense

19. Finance income and finance expense

	2017		2016			2015
Interest income		53,570		67,565			36,562
Net foreign currency exchange gain		1,912,681		843,950			1,806,206
Revaluation gain from derivative financial instruments		3,372,186		291,048			—
Total finance income		5,338,437		1,202,563			1,842,768
Interest expense (incl. Bank charges)		1,640,394		828,547			7,985
Net foreign currency exchange loss		2,737,273		944,047			662,100
Total finance expense		4,377,667		1,772,594			670,085
Finance income/(expense), net		960,770		(570,031	)		1,172,683

In 2017, net foreign currency exchange gains contain translation gains of CHF 1,315,029 (2016: CHF 396,665; 2015: CHF 1,154,513) which arose on the Company’s USD and EUR denominated cash and cash equivalents. In 2017, interest expenses include interest paid to Hercules Capital, Inc. under the Loan and Security Agreement in an amount of CHF 1,182,369 (2016: CHF 546,170; 2015: CHF 0).