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Consolidated Statements of Cash Flows - CHF (SFr)
SFr in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Operating activities      
Net income/(loss) for the period SFr (72,996) SFr (61,921) SFr 45,442
Adjustments to reconcile net income/(loss) for the period to net cash flows:      
Depreciation of property, plant and equipment 1,897 1,535 1,274
Depreciation of right-of-use assets 509 432 420
Finance result, net (6,769) 376 1,739
Share-based compensation expense 4,126 4,088 2,834
Changes in net employee defined benefit liability 590 705 516
Change in fair value of conversion feature 0 0 (4,542)
Interest expense 573 175 1,894
(Gain)/loss on sale of fixed assets 13 (64) 0
Changes in working capital:      
Decrease/(increase) in prepaid expenses 791 (1,304) (424)
Decrease /(increase) in accrued income 594 (507) 2,572
(Increase)/decrease in other current receivables (99) (25) (68)
Increase /(decrease) in accrued expenses 5,214 (757) 1,289
Increase /(decrease) in deferred income 425 (4,157) 4,126
(Decrease)/increase in trade and other payables (84) 2,177 (1,845)
Cash (used in)/provided by operating activities (65,216) (59,247) 55,227
Interest income 0 78 304
Interest paid (465) (339) (296)
Finance costs (8) (9) (15)
Net cash flows (used in)/provided by operating activities (65,689) (59,517) 55,220
Investing activities      
Short-term financial assets (51,000) 30,000 (65,000)
Purchases of property, plant and equipment (2,635) (1,706) (1,885)
Proceeds from sale of property, plant and equipment 0 64 0
Rental deposits (29) (29) 0
Net cash flows (used in)/provided by investing activities (53,664) 28,329 (66,885)
Financing activities      
Proceeds from issuance of convertible loan 23,463 0 50,278
Transaction costs on issuance of shares (6) 0 (510)
Proceeds from sale of treasury shares in public offerings, net of underwriting fees and transaction costs 12,121 100 0
Proceeds from issuance of common shares - asset acquisition, net of transaction costs 4,599 0 0
Proceeds from issuance of common shares - option plan, net of transaction costs 1,082 143 69
Principal payments of lease obligations (513) (432) (420)
Repayment of short-term financing obligation 0 (514) 0
Payment for the issuance of treasury shares 0 (100) 0
Proceeds from long-term financing obligation 0 0 199
Net cash flows provided by/(used in) financing activities 40,746 (803) 49,616
Net (decrease)/increase in cash and cash equivalents (78,607) (31,991) 37,951
Cash and cash equivalents, beginning of period 160,893 193,587 156,462
Exchange losses on cash and cash equivalents (70) (703) (826)
Cash and cash equivalents, end of period 82,216 160,893 193,587
Net (decrease)/increase in cash and cash equivalents (78,607) (31,991) 37,951
Supplemental non-cash activity      
Capital expenditures recorded in Accrued expenses 303 328 0
Issuance of shares for purchase of IPR&D asset in asset acquisition 50,416 0 0
Transaction costs associated with issuance of shares in relation to the asset acquisition recorded in Accrued expenses 776 0 0
Settlement of convertible notes recorded within Shareholders' equity SFr 16,920 SFr 0 SFr 48,288