CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS (UNAUDITED) - EUR (€) € in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Revenue
Research and development services	€ 104	€ 219
Grants	279	186
Total revenue	383	405
Expenses
Research and development	667	109
General and administrative	330	343
Bank fee	0	1
Depreciation	9	10
Directors' fees	5	5
Foreign exchange and other	(35)	(92)
Total expenses	976	376
Operating (Loss) Income	(593)	29
Interest expense	646	642
Loss before income tax (provision) benefit	(1,239)	(613)
Income tax (provision) benefit	0	20
Net Loss	(1,239)	(593)
Other comprehensive loss
Foreign currency translation adjustment	2	(6)
Comprehensive loss	€ (1,237)	€ (599)
Basic earnings per share	€ 0	€ 0
Diluted earnings per share	€ 0	€ 0