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Consolidated Statement of Cash Flows - EUR (€)
€ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Cash flows from operating activities        
Net result € (24,381) € (15,069) € (53,501) € (43,440)
Adjustments for:        
Depreciation 612 544 1,773 1,777
Share-based compensation 1,335 1,716 3,256 4,435
Financial income and expenses 620 (266) 1,998 2,491
Results related to associates   132 8 132
Gain on disposal of associate       (514)
Results related to financial liabilities measured at fair value through profit or loss (5) 611 (3,831) 1,373
Result related to derecognition of financial liabilities 4,016   2,872  
Income tax expenses 69 35 96 95
Changes in working capital 3,465 4,836 231 5,658
Cash used in operations (14,269) (7,461) (47,098) (27,993)
Corporate income tax paid (69) (35) (96) (95)
Interest received 67   67 5
Interest paid (1,093) (561) (3,548) (1,714)
Net cash used in operating activities (15,364) (8,057) (50,675) (29,797)
Cash flow from investing activities        
Purchases of property, plant and equipment (246) (175) (721) (259)
Net cash used in investing activities (246) (175) (721) (259)
Cash flow from financing activities        
Proceeds from issuance of shares, net of transaction costs   23,223   108,477
Proceeds from exercise of share options   402 33 1,155
Proceeds from borrowings   284   853
Repayments of convertible loans (43,373)   (43,373)  
Repayment of lease liability (381) (347) (1,314) (597)
Net cash (used in)/generated by financing activities (43,754) 23,562 (44,654) 109,888
Net increase (decrease) in cash and cash equivalents (59,364) 15,330 (96,050) 79,832
Currency effect cash and cash equivalents 3,393 1,369 8,957 471
Cash and cash equivalents, at beginning of the period 156,402 139,442 187,524 75,838
Cash and cash equivalents at the end of the period € 100,431 € 156,141 € 100,431 € 156,141