Shareholders equity	3 Months Ended
Mar. 31, 2023
Shareholders Equity
Shareholders Equity	11. Shareholders’ equity The authorized share capital of the Company amounting to € 13,600,000 consists of 170,000,000 ordinary shares and 170,000,000 preference shares with a par value of € 0.04 per share. At March 31, 2023, 84,246,967 ordinary shares were issued. 80,935,675 ordinary shares were fully paid and 3,311,292 ordinary shares were held by the Company as treasury shares (December 31, 2022: 3,429,888). In December 2022, the Company issued 9,381,586 shares to Lilly pursuant to the amended and restated licensing and research collaboration between the Company and Lilly, resulting in gross proceeds of € 14,122,000, with no significant transaction costs. Translation reserve The translation reserve comprises all foreign currency differences arising from the translation of the financial statements of foreign operations. Share options The Company operates an equity-settled share-based compensation plan, which was introduced in 2013. Options and RSUs may be granted to employees, members of the Supervisory Board, members of the Management Board and consultants. The compensation expenses included in operating costs for this plan in the three month period ended March 31, 2023 were € 1,095,000 (three month period ended March 31, 2022: € 1,183,000), of which € 739,000 was recorded in general and administrative costs (three month period ended March 31, 2022: € 641,000) and € 356,000 was recorded in research and development costs (three month period ended March 31, 2022: € 542,000).

Shareholders equity

3 Months Ended

Mar. 31, 2023

11. Shareholders’ equity

The authorized share capital of the Company amounting to € 13,600,000 consists of 170,000,000 ordinary shares and 170,000,000 preference shares with a par value of € 0.04 per share. At March 31, 2023, 84,246,967 ordinary shares were issued. 80,935,675 ordinary shares were fully paid and 3,311,292 ordinary shares were held by the Company as treasury shares (December 31, 2022: 3,429,888).

In December 2022, the Company issued 9,381,586 shares to Lilly pursuant to the amended and restated licensing and research collaboration between the Company and Lilly, resulting in gross proceeds of € 14,122,000, with no significant transaction costs.

Translation reserve

The translation reserve comprises all foreign currency differences arising from the translation of the financial statements of foreign operations.

Share options

The Company operates an equity-settled share-based compensation plan, which was introduced in 2013. Options and RSUs may be granted to employees, members of the Supervisory Board, members of the Management Board and consultants. The compensation expenses included in operating costs for this plan in the three month period ended March 31, 2023 were € 1,095,000 (three month period ended March 31, 2022: € 1,183,000), of which € 739,000 was recorded in general and administrative costs (three month period ended March 31, 2022: € 641,000) and € 356,000 was recorded in research and development costs (three month period ended March 31, 2022: € 542,000).