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Consolidated Statement of Cash Flows
3 Months Ended 9 Months Ended
Sep. 30, 2019
EUR (€)
Sep. 30, 2018
EUR (€)
Sep. 30, 2019
EUR (€)
Sep. 30, 2018
EUR (€)
Cash flow from operating activities        
Net result € (12,191,000) € (5,992,000) € (38,167,000) € (24,109,000)
Adjustments for:        
Depreciation 506,000 242,000 1,543,000 725,000
Share-based payment expenses 1,226,000 734,000 4,614,000 2,245,000
Financial income and expenses (1,375,000) 74,000 (1,339,000) 664,000
Results related to associates 119,000   (579,000)  
Net foreign exchange gain / (loss) 148,000 (4,000) 122,000 (15,000)
Changes in working capital 2,718,000 656,000 1,744,000 1,074,000
Cash used in operations (8,849,000) (4,290,000) (32,062,000) (19,416,000)
Corporate income tax paid   1,000 (64,000)  
Interest received 90,000 32,000 176,000 25,000
Interest paid (13,000)   (64,000)  
Net cash used in operating activities (8,772,000) (4,257,000) (32,014,000) (19,391,000)
Cash flow from investing activities        
Purchases of property, plant and equipment (32,000) (99,000) (341,000) (285,000)
Net cash used in investing activities (32,000) (99,000) (341,000) (285,000)
Cash flow from financing activities        
Proceeds from issuance of shares, net of transaction costs   84,295,000   84,295,000
Proceeds from exercise of share options 2,000 637,000 166,000 660,000
Proceeds from borrowings       101,000
Proceeds from convertible loans   115,000 690,000 430,000
Repayment of lease liability (290,000)   (861,000)  
Net cash (used in)/generated by financing activities (288,000) 85,047,000 (5,000) 85,486,000
Net increase/(decrease) in cash and cash equivalents (9,092,000) 80,691,000 (32,360,000) 65,810,000
Currency effect cash and cash equivalents 1,420,000 57,000 1,572,000 (193,000)
Cash and cash equivalents, at beginning of the period 82,464,000 32,968,000 105,580,000 48,099,000
Cash and cash equivalents at the end of the period € 74,792,000 € 113,716,000 € 74,792,000 € 113,716,000