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Consolidated statements of cash flows - EUR (€)
€ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Cash flow from operating activities      
Loss for the period € (105,938) € (86,004) € (57,523)
Adjustments for the period:      
Income taxes 3 2 2
Depreciation and amortization 1,749 2,899 1,334
Net gain from disposal of subsidiary (4,339) 0 0
Net loss on disposal of leasehold improvements and equipment 82 0 0
Share-based payments 10,714 19,110 11,820
Finance income / (costs) - net (726) (2,117) (6,509)
Total (98,455) (66,110) (50,876)
Change in trade and other receivables 1,093 2,113 (2,369)
Change in financial assets (851) 0 0
Change in inventories 100 (207) (175)
Change in other assets and prepaid expenses (2,737) 1,075 (2,274)
Change in trade, other payables, provisions and contract liabilities (9,766) (41,048) (29,990)
Sub-total (110,616) (104,177) (85,684)
Interest received 1,743 564 0
Paid interest (1,393) (1,277) (905)
Paid income tax (3) (2) (2)
Net cash used in operating activities (110,269) (104,892) (86,591)
Cash flow from investing activities      
Purchase of intangible assets 0 (37) (1,654)
Purchase of leasehold improvements and equipment, including upfront payments for right-of-use assets (3,729) (659) (2,196)
Cash received from the sale of financial assets 938 6,301 0
Cash paid for investments in financial assets (34,246) 0 0
Cash received from sale of subsidiary 978 0 0
Net cash (used)/generated in investing activities (36,059) 5,605 (3,850)
Cash flow from financing activities      
Proceeds from issue of common shares, including exercise of share-based payment awards 235 95,907 124,460
Transaction costs related to issue of common shares (35) (6,037) (7,412)
Proceeds from borrowings 0 0 17,500
Transaction costs related to borrowings 0 0 (311)
Repayment of lease liabilities (491) (733) (564)
Repayment of borrowings (5,929) (580) (92)
Net cash (used)/generated in financing activities (6,220) 88,557 133,581
Exchange rate related changes of cash and cash equivalents 791 3,386 7,636
Net changes to cash and cash equivalents (152,548) (10,730) 43,140
Cash and cash equivalents at the beginning of the period 190,286 197,630 146,854
Cash and cash equivalents at the end of the period € 38,529 € 190,286 € 197,630