Document and Entity Information
Document and Entity Information | 6 Months Ended |
Jun. 30, 2020 | |
Document and Entity Information | |
Entity Registrant Name | Affimed N.V. |
Entity Central Index Key | 0001608390 |
Document Type | 6-K |
Document Period End Date | Jun. 30, 2020 |
Amendment Flag | false |
Current Fiscal Year End Date | --12-31 |
Document Fiscal Year Focus | 2020 |
Document Fiscal Period Focus | Q2 |
Consolidated statements of comp
Consolidated statements of comprehensive income / (loss) - EUR (€) € in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | |
consolidated statements of comprehensive income / (loss) | ||||
Revenue | € 2,934 | € 4,008 | € 8,069 | € 15,361 |
Other income - net | 85 | 197 | 28 | 283 |
Research and development expenses | (11,697) | (11,545) | (23,146) | (19,532) |
General and administrative expenses | (2,606) | (2,342) | (6,131) | (4,776) |
Operating income / (loss) | (11,284) | (9,682) | (21,180) | (8,664) |
Finance income/costs - net | (954) | (654) | 653 | 180 |
Income / (loss) before tax | (12,238) | (10,336) | (20,527) | (8,484) |
Income taxes | 0 | (4) | 0 | (4) |
Income / (loss) for the period | (12,238) | (10,340) | (20,527) | (8,488) |
Other comprehensive income / (loss) Items that will not be reclassified to profit or loss | ||||
Equity investments at fair value OCI - net change in fair value | (71) | (49) | 10 | 24 |
Other comprehensive income / (loss) | (71) | (49) | 10 | 24 |
Total comprehensive income / (loss) | € (12,309) | € (10,389) | € (20,517) | € (8,464) |
Earnings / (loss) per share in per share (undiluted = diluted) | € (0.16) | € (0.17) | € (0.26) | € (0.14) |
Weighted number of common shares outstanding | 79,189,686 | 62,439,363 | 77,719,793 | 62,434,734 |
Consolidated statements of fina
Consolidated statements of financial position - EUR (€) € in Thousands | Jun. 30, 2020 | Dec. 31, 2019 |
Non-current assets | ||
Intangible assets | € 103 | € 137 |
Leasehold improvements and equipment | 2,237 | 2,291 |
Long term financial assets | 3,203 | 3,193 |
Right-of-use assets | 536 | 824 |
Total non-current assets | 6,079 | 6,445 |
Current assets | ||
Cash and cash equivalents | 84,584 | 95,234 |
Financial assets | 8,037 | 8,902 |
Trade and other receivables | 2,027 | 1,482 |
Inventories | 421 | 296 |
Total current assets | 95,069 | 105,914 |
TOTAL ASSETS | 101,148 | 112,359 |
Equity | ||
Issued capital | 845 | 762 |
Capital reserves | 292,720 | 270,451 |
Fair value reserves | 1,972 | 1,962 |
Accumulated deficit | (255,035) | (234,508) |
Total equity | 40,502 | 38,667 |
Non current liabilities | ||
Borrowings | 231 | 278 |
Contract liabilities | 27,829 | 37,961 |
Lease liabilities | 95 | 272 |
Total non-current liabilities | 28,155 | 38,511 |
Current liabilities | ||
Trade and other payables | 6,606 | 10,674 |
Provisions | 484 | 517 |
Borrowings | 1,039 | 2,105 |
Lease liabilities | 451 | 532 |
Contract liabilities | 23,911 | 21,353 |
Total current liabilities | 32,491 | 35,181 |
TOTAL EQUITY AND LIABILITIES | € 101,148 | € 112,359 |
Consolidated Statement of Cash
Consolidated Statement of Cash Flows - EUR (€) € in Thousands | 6 Months Ended | |
Jun. 30, 2020 | Jun. 30, 2019 | |
Cash flow from operating activities | ||
Income / (loss) for the period | € 20,527 | € 8,488 |
Adjustments for the period: | ||
Income taxes | 0 | 4 |
Depreciation and amortisation | 551 | 423 |
Net gain from disposal of leasehold improvements and equipment | 0 | (9) |
Share based payments | 1,410 | 1,167 |
Finance income / costs - net | (653) | (180) |
Total | (19,219) | (7,083) |
Change in trade and other receivables | (649) | 228 |
Change in inventories | (125) | (70) |
Change in other assets | 0 | (2,586) |
Change in trade, other payables, provisions and contract liabilities | (11,757) | (9,484) |
Cash used in operating activities | (31,750) | (18,995) |
Interest received | 276 | 188 |
Paid interest | (64) | (134) |
Net cash used in operating activities | (31,538) | (18,941) |
Cash flow from investing activities | ||
Purchase of intangible assets | (2) | (142) |
Purchase of leasehold improvements and equipment | (174) | (755) |
Cash paid for investments in financial assets | (8,101) | (35,262) |
Cash received from maturity of financial assets | 9,088 | 25,748 |
Net cash used for investing activities | 811 | (10,411) |
Cash flow from financing activities | ||
Proceeds from issue of common shares | 21,785 | 13 |
Transaction costs related to issue of common shares | (754) | 0 |
Proceeds from borrowings | 0 | 562 |
Repayment of lease liabilities | (257) | (206) |
Repayment of borrowings | (1,128) | (1,649) |
Cash flow from financing activities | 19,646 | (1,280) |
Exchange-rate related changes of cash and cash equivalents | 431 | (210) |
Net changes to cash and cash equivalents | (11,081) | (30,632) |
Cash and cash equivalents at the beginning of the period | 95,234 | 94,829 |
Cash and cash equivalents at the end of the period | 84,584 | 63,987 |
Cash and cash equivalents at the end of the year | € 84,584 | € 63,987 |
Consolidated Statement of Chang
Consolidated Statement of Changes in Equity - EUR (€) € in Thousands | Issued Capital | Capital Reserves | Fair Value Reserves | Accumulated Deficit | Total |
Balance beginning at Jan. 01, 2019 | € 624 | € 239,055 | € 2,594 | € (202,144) | € 40,129 |
Exercise of share based payment awards | 13 | 13 | |||
Equity-settled share based payment awards | 1,167 | 1,167 | |||
Loss for the period | (8,488) | (8,488) | |||
Other comprehensive income | 24 | 24 | |||
Balance, ending at Jun. 30, 2019 | 624 | 240,235 | 2,618 | (210,632) | 32,845 |
Balance beginning at Jan. 01, 2020 | 762 | 270,451 | 1,962 | (234,508) | 38,667 |
Issue of common shares | 83 | 20,859 | 20,942 | ||
Equity-settled share based payment awards | 1,410 | 1,410 | |||
Loss for the period | (20,527) | (20,527) | |||
Other comprehensive income | 10 | 10 | |||
Balance, ending at Jun. 30, 2020 | € 845 | € 292,720 | € 1,972 | € (255,035) | € 40,502 |
Reporting entity
Reporting entity | 6 Months Ended |
Jun. 30, 2020 | |
Reporting entity | |
Reporting entity | 1. Reporting entity Affimed N.V. is a Dutch company with limited liability (naamloze vennootschap) and has its corporate seat in Amsterdam, the Netherlands. The consolidated financial statements are comprised of Affimed N.V., and its controlled (and wholly owned) subsidiaries Affimed GmbH, Heidelberg, Germany, AbCheck s.r.o., Plzen, Czech Republic, Affimed Inc., Delaware, USA and AbCheck Inc., Delaware, USA (together “Affimed”, the “Company“ or the “Group”). Affimed is a clinical-stage immuno-oncology company focused on discovering and developing highly targeted cancer immunotherapies. The Group’s product candidates represent an innovative approach to cancer treatment that seeks to harness the body’s own immune defenses to fight tumor cells. Affimed has its own research and development programs, strategic collaborations and service contracts, pursuant to which Affimed is performing research services for third parties. |
Basis of preparation and change
Basis of preparation and changes to Group's accounting policies | 6 Months Ended |
Jun. 30, 2020 | |
Basis of preparation and changes to Group's accounting policies | |
Basis of preparation and changes to Group's accounting policies | 2. Basis of preparation and changes to Group’s accounting policies Statement of compliance The interim financial statements for the three and six months ended June 30, 2020 and 2019 have been prepared in accordance with IAS 34 Interim Financial Reporting. The interim financial statements do not include all the information and disclosures required in the annual financial statements, and should be read in conjunction with Affimed N.V.’s annual consolidated financial statements as of December 31, 2019. The interim financial statements were authorized for issuance by the management board on August 11, 2020. Critical judgments and accounting estimates The preparation of the interim financial statements in conformity with IFRS requires management to make judgments, estimates and assumptions that affect the application of accounting policies and the reported amounts of assets, liabilities, income and expenses. Actual results may differ from these estimates. Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognized in the period in which the estimates are revised and in any future periods affected. In preparing these interim financial statements, the critical judgments made by management in applying the Company’s accounting policies were the same as those that applied to the consolidated financial statements as of and for the year ended December 31, 2019. Functional and presentation currency These interim financial statements are presented in Euro, which is the Company’s functional currency. All financial information presented in Euro has been rounded to the nearest thousand (abbreviated €) or million (abbreviated € million). Significant accounting policies The accounting policies applied by the Company in these interim financial statements are the same as those applied by the Company in its consolidated financial statements as of and for the year ended December 31, 2019 with the exception of new amendments to standards and new or amended interpretations applied for the first time as described below. New standards and interpretations applied for the first time The following amendments to standards and new or amended interpretations are effective for annual periods beginning on or after January 1, 2020, and have been applied in preparing these financial statements: Standard/interpretation Effective Date Amendments to References to the Conceptional Framework January 1, 2020 Amendments to IAS 1 and IAS 8: Definition of Material January 1, 2020 Amendments to IFRS 9, IAS 39 and IFRS 7: Interest Rate Benchmark Reform January 1, 2020 Amendments to IFRS 3 Business Combination January 1, 2020 Amendment to IFRS 16 Leases Covid 19-Related Rent Concessions June 1, 2020 None of the amendments to standards and new or amended interpretations had a material effect on the interim financial statements. Fair Value Measurement All assets and liabilities for which fair value is recognized in the interim financial statements are classified in accordance with the following fair value hierarchy, based on the lowest level input parameter that is significant on the whole for fair value measurement: · Level 1 – Prices for identical assets or liabilities quoted in active markets (non-adjusted) · Level 2 – Measurement procedures, in which the lowest level input parameter significant on the whole for fair value measurement is directly or indirectly observable for on the market · Level 3 – Measurement procedures, in which the lowest level input parameter significant on the whole for fair value measurement is not directly or indirectly observable for on the market The carrying amount of all trade and other receivables, certificates of deposit, cash and cash equivalents and trade and other payables is a reasonable approximation of the fair value and, therefore, information about the fair values of those financial instruments has not been disclosed. The measurement of the fair value of the shares held by the group and note disclosure for the fair value of a loan (financial liability) is based on level 2 measurement procedures (see notes 5 and 10). New standards and interpretations not yet adopted The following standards, amendments to standards and interpretations are effective for annual periods beginning after December 31, 2019 and have not been applied in preparing these consolidated financial statements. Standard/interpretation Effective Date Amendments to IAS 1 Presentation of Financial Statements: Classification of Liabilities as Current or Non-current January 1, 2022 Amendments to IFRS 3 Business Combinations January 1, 2022 Amendments to IAS 16 Property, Plant and Equipment January 1, 2022 Amendments to AS 37 Provisions, Contingent Liabilities and Contingent Assets January 1, 2022 Annual Improvements 2018-2020 January 1, 2022 |
Revenue
Revenue | 6 Months Ended |
Jun. 30, 2020 | |
Revenue. | |
Revenue | 3. Revenue Collaboration agreement The Leukemia & Lymphoma Society (LLS) Affimed is party to a collaboration with LLS to fund the development of specific product candidates (immune cell engagers). Under the terms of the agreement, LLS has agreed to contribute up to $4.4 million contingent upon the achievement of certain milestones. In the event that the research and development is successful, Affimed must proceed with commercialization of the licensed product. If Affimed decides for business reasons not to continue the commercialization, Affimed must at its option either repay the amount funded or grant a license to LLS to enable LLS to continue with the development program. In addition, LLS is entitled to receive royalties from Affimed based on the Group’s future revenue from any licensed product, with the amount of royalties not to exceed three times the amount funded. In June 2016, the research funding agreement with LLS was amended to reflect a shift to the development of combination therapeutic approaches so that the milestones now relate primarily to the development of a combination therapy. During the six months ended June 30, 2020, the Company recognized revenue totalling €0.1 million (2019: €0 million). Collaboration with Genentech Inc. In August 2018, Affimed entered into a strategic collaboration agreement with Genentech Inc., headquartered in South San Francisco, USA. Under the terms of the agreement Affimed will develop novel NK cell engager-based immunotherapeutics to treat multiple cancers. The Genentech agreement became effective at the beginning of October 2018. Affimed received $96.0 million (€83.2 million) in initial upfront and committed funding on October 31, 2018. The Group recognized €2.7 million and €7.6 million as revenue during the three and six months ended June 30, 2020 (2019: €3.7 million and €14.3 million). As of June 30, 2020, contract liabilities of €51.7 million (December 31, 2019: €59.3 million) will be recognized as revenue in subsequent periods. Under the terms of the agreement, Affimed is eligible to receive up to an additional $5.0 billion over time, including payments upon achievement of specified development, regulatory and commercial milestones. Affimed is also eligible to receive royalties on any potential sales. Research service agreements The Group, through its subsidiary AbCheck s.r.o. has entered into certain research service agreements. These research service agreements provide for non-refundable upfront technology access research funding or capacity reservation fees and milestone payments. The Company recognized €0.2 million and €0.4 million as revenue in the three and six months ended June 30, 2020 (2019: €0.3 million and €1.1 million). Contract balances The following table provides information about receivables and contract liabilities from contracts with customers. June 30, 2020 December 31, 2019 Receivables 45 204 Contract liabilities 51,739 59,314 Amounts of €2,749 and €7,580 recognized in contract liabilities at the beginning of the period have been recognized as revenue during the three and six months ended June 30, 2020. The remaining performance obligations as of June 30, 2020 are approximately €51.7 million and are expected to be recognized as revenue to a large extent over the next two years. Disaggregation of revenue Geographic information Three months Three months Six months Six months ended ended ended ended June 30, 2020 June 30, 2019 June 30, 2020 June 30, 2019 Revenue: Germany 0 0 75 0 Europe 0 325 2 1,077 USA 2,934 3,683 7,992 14,284 2,934 4,008 8,069 15,361 Major service lines Three months Three months Six months Six months ended ended ended ended June 30, 2020 June 30, 2019 June 30, 2020 June 30, 2019 Collaboration revenue 2,793 3,683 7,716 14,284 Service revenue 141 325 353 1,077 2,934 4,008 8,069 15,361 Timing on revenue recognition Three months ended Three months ended Six months ended Six months ended June 30, 2020 June 30, 2019 June 30, 2020 June 30, 2019 Point in time 106 0 283 5,633 Over time 2,828 4,008 7,786 9,728 2,934 4,008 8,069 15,361 |
Finance income and finance cost
Finance income and finance costs | 6 Months Ended |
Jun. 30, 2020 | |
Finance income and finance costs | |
Finance income and finance costs | 4. Finance income and finance costs Three months ended Three months ended Six months ended Six months ended June 30, 2020 June 30, 2019 June 30, 2020 June 30, 2019 Interest SVB Loan Agreement (59) (128) (116) (283) Foreign exchange differences (1,022) (728) 554 28 Finance cost lease liability (6) (6) (13) (13) Other finance income/finance costs 71 208 166 448 Gain from the modification of SVB Loan Agreement (see note 10) 62 0 62 0 Finance income/costs - net (954) (654) 653 180 |
Long term financial assets
Long term financial assets | 6 Months Ended |
Jun. 30, 2020 | |
Long term financial assets | |
Long term financial assets | 5. Long term financial assets The Company holds preferred shares in Amphivena recognized at their fair value of €3.2 million (December 31, 2019: €3.2 million). As of June 30, 2020, the fair value increased by €10 as compared to December 31, 2019 due to exchange rate differences recognized in other comprehensive income for the six months ended June 30, 2020 (2019: increase of €24). During the three months ended June 30, 2020 and 2019 the fair value decreased by €71 and €49 due to exchange rate differences . |
Financial assets
Financial assets | 6 Months Ended |
Jun. 30, 2020 | |
Financial assets | |
Financial assets | 6. Financial assets As of June 30, 2020 and December 31, 2019, financial assets consisted of U.S. Dollar denominated certificates of deposit with original maturities of more than three months. |
Equity
Equity | 6 Months Ended |
Jun. 30, 2020 | |
Equity | |
Equity | 7. Equity As of June 30, 2020 the share capital of €845 (December 31, 2019: €762) is divided into 84,493,155 (December 31, 2019: 76,249,901) common shares with a par value of €0.01 per share. In May 2020, the Company implemented an at-the-market ("ATM") program providing for the sales over time of up to $50,000,000 of its common shares. As of June 30, 2020, the Company has issued approximately 8.1 million common shares under this ATM program, generating net proceeds of approximately €21 million. |
Share-based payments
Share-based payments | 6 Months Ended |
Jun. 30, 2020 | |
Share-based payments | |
Share-based payments | 8. Share-based payments In 2014, an equity-settled share-based payment program was established by Affimed N.V. (ESOP 2014). Under this program, the Company granted awards to certain members of the Management Board, the Supervisory Board, non-employee consultants and employees. Share based payments with service condition The majority of the awards vest in instalments over three years and can be exercised up to 10 years after the grant date. In the three and six months ended June 30, 2020, the group granted 478,750 and 1,388,559 awards. 58,729 and 183,141 ESOP 2014 awards were cancelled or forfeited, and 197,007 options were exercised during the three and six months ended June 30, 2020. As of June 30, 2020, 8,315,978 ESOP 2014 options (December 31, 2019: 7,307,567) were outstanding, and 5,623,642 awards (December 31, 2019: 4,773,840) had vested. The options outstanding as of June 30, 2020 had an exercise price in the range of $1.30 to $13.47. Share based payments with market condition On April 20, 2018, Affimed issued 240,000 options, of which each grant consists of three tranches that vest when the volume-weighted average share price (measured based on Affimed closing share prices over the preceding fifteen trading days) reaches a certain hurdle ($6.15, $8.20 and $10.25). Fair value of the awards at grant date amounts to €133 ($164 thousand) and the contractual life time of the options was two years. No options were exercisable and the term of the options has been expired. Share based payment expense In the three and six months ended June 30, 2020, compensation expense of €684 and €1,410 was recognized affecting research and development expenses (€400 and €717) and general and administrative expenses (€284 and €693). In the three and six months ended June 30, 2019, compensation expense of €566 and €1,167 was recognized affecting research and development expenses (€231 and €500) and general and administrative expenses (€335 and €667). Fair value measurement The fair value of options was determined using the Black-Scholes valuation model. The significant inputs into the valuation model of share based payment grants with service conditions are as follows (weighted average): June 30, 2020 June 30, 2019 Fair value at grant date $ 1.81 $ 2.11 Share price at grant date $ 2.50 $ 3.04 Exercise price $ 2.50 $ 3.04 Expected volatility 91 % 82 % Expected life 5.90 Expected dividends 0.00 0.00 Risk-free interest rate 1.30 % 2.14 % Expected volatility is estimated based on the observed daily share price returns of a peer group measured over a historic period equal to the expected life of the awards. The risk-free interest rates are based on the yield to maturity of U.S. Treasury strips and German sovereign strips respectively (as best available indication for risk-free rates), for a term equal to the expected life, as measured as of the Grant Date. |
Provisions
Provisions | 6 Months Ended |
Jun. 30, 2020 | |
Provisions | |
Provisions | 9. Provisions In 2019, the group recognized costs related to the termination of the AFM 11 program totalling to €1.4 million, whereof €0.9 million were already incurred in 2019. Estimated costs expected to be incurred in future periods were recognized in provisions (€0.5 million, December 31, 2019: €0.5 million). |
Borrowings
Borrowings | 6 Months Ended |
Jun. 30, 2020 | |
Borrowings | |
Borrowings | 10. Borrowings Silicon Valley Bank On November 30, 2016, the Company entered into a loan agreement with Silicon Valley Bank (the “SVB loan”) which provides the Company with a senior secured term loan facility for up to €10.0 million, which agreement was amended in May 2017 to provide that such amount would be available in three tranches. In December 2016, the Company drew an initial tranche of €5.0 million and in May 2017, a second tranche of €2.5 million; the availability of a third tranche of €2.5 million expired in September 2017 with such amount remaining undrawn. Finance costs comprise the interest rate of one-month EURIBOR plus an applicable margin of 5.5%, with a floor of 5.5%, related one-time legal and arrangement fees of €236 and a final payment fee equal to 10% of the total principal amount to be paid with the last instalment. Pursuant to the loan agreement, the Company also granted the lender 166,297 and 53,395 warrants with an exercise price of $2.00 and $2.30 per share, respectively. Each warrant can be used to purchase common shares of Affimed at the respective exercise price for a period of ten years from the date of grant. The fair value of the warrants of €192 less deferred taxes and transaction costs of €81 and €8, respectively, was recorded as an addition to capital reserves in the equity of Affimed. The fair value of the warrants was determined using the Black-Scholes-Merton valuation model, with an expected volatility of 75 to 80% and an expected exercise period of five years to exercise of the warrant. The contractual maturity of the warrants is ten years. The loan is secured by a pledge of 100% of Company’s ownership interest in Affimed GmbH, all intercompany claims owed to Affimed N.V. by its subsidiaries, and collateral agreements for all bank accounts, inventory, trade receivables and other receivables of Affimed N.V. and Affimed GmbH recognized in the consolidated financial statements. As of June 30, 2020 and December 31, 2019, the fair value of the liability did not differ significantly from its carrying amount (€947 and €2,013). Repayment started in December 2017 with amortized payments of principal and interest in equal monthly instalments. In April 2020, the Company agreed with Silicon Valley Bank to extend the original maturity date of May 31, 2020 by six months to November 30, 2020. The modification resulted in a gain of €62 recognized in finance income. As of June 30, 2020, €947 (December 31, 2019: €2,013) was classified as current liabilities. UniCredit Leasing CZ In April 2019, the Group entered into a loan agreement with UniCredit Leasing CZ for €562. After an initial instalment of €127 in the second quarter of 2019, repayment is effected in monthly instalments of €8 until November 2023. As of June 30, 2020, an amount of €323 (December 31, 2019: €368) was outstanding, of which €92 was classified as current liabilities (December 31, 2019: €93). As of June 30, 2020, the fair value of the liability did not differ significantly from its carrying amount. |
Related parties
Related parties | 6 Months Ended |
Jun. 30, 2020 | |
Related parties | |
Related parties | 11. Related parties The supervisory directors of Affimed N.V. received compensation for their services on the supervisory board of €96 and €181 (€100 and €195) in the three and six months ended June 30, 2020 (2019), remuneration of managing directors and other key management personnel amounted to €593 and €1,198 (€708 and €1,414). The payments in the six months ended June 30, 2020 include payments following the death of our former Chief Financial Officer, Florian Fischer, amounting to €120. The Company recognized share-based payment expenses of €17 and €53 (€19 and €40) for supervisory directors and €361 and €721 (€320 and €723) for managing directors and other key management personnel in the three and six months ended June 30, 2020 (2019). The following table provides the outstanding balances for management and supervisory board remuneration. Outstanding balances June 30, December 31, Adi Hoess 0 5 Wolfgang Fischer 0 1 Dr. Thomas Hecht 19 26 Berndt Modig 9 9 Ferdinand Verdonck 11 11 Dr. Ulrich Grau 17 21 Dr. Bernhard Ehmer 16 20 Mathieu Simon 8 9 |
Subsequent Events
Subsequent Events | 6 Months Ended |
Jun. 30, 2020 | |
Subsequent Events | |
Subsequent Events | 12. Subsequent events Upon the achievement of a clinical milestone in July 2020 under its ongoing strategic collaboration with Genentech, Affimed is eligible to receive a payment in an undisclosed amount. |
Basis of preparation and chan_2
Basis of preparation and changes to Group's accounting policies (Policies) | 6 Months Ended |
Jun. 30, 2020 | |
Basis of preparation and changes to Group's accounting policies | |
Statement of compliance | Statement of compliance The interim financial statements for the three and six months ended June 30, 2020 and 2019 have been prepared in accordance with IAS 34 Interim Financial Reporting. The interim financial statements do not include all the information and disclosures required in the annual financial statements, and should be read in conjunction with Affimed N.V.’s annual consolidated financial statements as of December 31, 2019. The interim financial statements were authorized for issuance by the management board on August 11, 2020. |
Critical judgments and accounting estimates | Critical judgments and accounting estimates The preparation of the interim financial statements in conformity with IFRS requires management to make judgments, estimates and assumptions that affect the application of accounting policies and the reported amounts of assets, liabilities, income and expenses. Actual results may differ from these estimates. Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognized in the period in which the estimates are revised and in any future periods affected. In preparing these interim financial statements, the critical judgments made by management in applying the Company’s accounting policies were the same as those that applied to the consolidated financial statements as of and for the year ended December 31, 2019. |
Functional and presentation currency | Functional and presentation currency These interim financial statements are presented in Euro, which is the Company’s functional currency. All financial information presented in Euro has been rounded to the nearest thousand (abbreviated €) or million (abbreviated € million). |
Significant Accounting Policies | Significant accounting policies The accounting policies applied by the Company in these interim financial statements are the same as those applied by the Company in its consolidated financial statements as of and for the year ended December 31, 2019 with the exception of new amendments to standards and new or amended interpretations applied for the first time as described below. |
New standards and interpretations applied for the first time | New standards and interpretations applied for the first time The following amendments to standards and new or amended interpretations are effective for annual periods beginning on or after January 1, 2020, and have been applied in preparing these financial statements: Standard/interpretation Effective Date Amendments to References to the Conceptional Framework January 1, 2020 Amendments to IAS 1 and IAS 8: Definition of Material January 1, 2020 Amendments to IFRS 9, IAS 39 and IFRS 7: Interest Rate Benchmark Reform January 1, 2020 Amendments to IFRS 3 Business Combination January 1, 2020 Amendment to IFRS 16 Leases Covid 19-Related Rent Concessions June 1, 2020 None of the amendments to standards and new or amended interpretations had a material effect on the interim financial statements. |
Fair Value Measurement | Fair Value Measurement All assets and liabilities for which fair value is recognized in the interim financial statements are classified in accordance with the following fair value hierarchy, based on the lowest level input parameter that is significant on the whole for fair value measurement: · Level 1 – Prices for identical assets or liabilities quoted in active markets (non-adjusted) · Level 2 – Measurement procedures, in which the lowest level input parameter significant on the whole for fair value measurement is directly or indirectly observable for on the market · Level 3 – Measurement procedures, in which the lowest level input parameter significant on the whole for fair value measurement is not directly or indirectly observable for on the market The carrying amount of all trade and other receivables, certificates of deposit, cash and cash equivalents and trade and other payables is a reasonable approximation of the fair value and, therefore, information about the fair values of those financial instruments has not been disclosed. The measurement of the fair value of the shares held by the group and note disclosure for the fair value of a loan (financial liability) is based on level 2 measurement procedures (see notes 5 and 10). |
New standards and interpretations not yet adopted | New standards and interpretations not yet adopted The following standards, amendments to standards and interpretations are effective for annual periods beginning after December 31, 2019 and have not been applied in preparing these consolidated financial statements. Standard/interpretation Effective Date Amendments to IAS 1 Presentation of Financial Statements: Classification of Liabilities as Current or Non-current January 1, 2022 Amendments to IFRS 3 Business Combinations January 1, 2022 Amendments to IAS 16 Property, Plant and Equipment January 1, 2022 Amendments to AS 37 Provisions, Contingent Liabilities and Contingent Assets January 1, 2022 Annual Improvements 2018-2020 January 1, 2022 |
Basis of preparation and chan_3
Basis of preparation and changes to Group's accounting policies (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
Basis of preparation and changes to Group's accounting policies | |
New standards and interpretations applied for the first time | New standards and interpretations applied for the first time The following amendments to standards and new or amended interpretations are effective for annual periods beginning on or after January 1, 2020, and have been applied in preparing these financial statements: Standard/interpretation Effective Date Amendments to References to the Conceptional Framework January 1, 2020 Amendments to IAS 1 and IAS 8: Definition of Material January 1, 2020 Amendments to IFRS 9, IAS 39 and IFRS 7: Interest Rate Benchmark Reform January 1, 2020 Amendments to IFRS 3 Business Combination January 1, 2020 Amendment to IFRS 16 Leases Covid 19-Related Rent Concessions June 1, 2020 None of the amendments to standards and new or amended interpretations had a material effect on the interim financial statements. |
New standards and interpretations not yet adopted | New standards and interpretations not yet adopted The following standards, amendments to standards and interpretations are effective for annual periods beginning after December 31, 2019 and have not been applied in preparing these consolidated financial statements. Standard/interpretation Effective Date Amendments to IAS 1 Presentation of Financial Statements: Classification of Liabilities as Current or Non-current January 1, 2022 Amendments to IFRS 3 Business Combinations January 1, 2022 Amendments to IAS 16 Property, Plant and Equipment January 1, 2022 Amendments to AS 37 Provisions, Contingent Liabilities and Contingent Assets January 1, 2022 Annual Improvements 2018-2020 January 1, 2022 |
Revenue (Tables)
Revenue (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
Revenue. | |
Schedule of contract liabilities from customer | June 30, 2020 December 31, 2019 Receivables 45 204 Contract liabilities 51,739 59,314 |
Schedule of Disaggregation of Revenue | Geographic information Three months Three months Six months Six months ended ended ended ended June 30, 2020 June 30, 2019 June 30, 2020 June 30, 2019 Revenue: Germany 0 0 75 0 Europe 0 325 2 1,077 USA 2,934 3,683 7,992 14,284 2,934 4,008 8,069 15,361 Major service lines Three months Three months Six months Six months ended ended ended ended June 30, 2020 June 30, 2019 June 30, 2020 June 30, 2019 Collaboration revenue 2,793 3,683 7,716 14,284 Service revenue 141 325 353 1,077 2,934 4,008 8,069 15,361 Timing on revenue recognition Three months ended Three months ended Six months ended Six months ended June 30, 2020 June 30, 2019 June 30, 2020 June 30, 2019 Point in time 106 0 283 5,633 Over time 2,828 4,008 7,786 9,728 2,934 4,008 8,069 15,361 |
Finance income and finance co_2
Finance income and finance costs (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
Finance income and finance costs | |
Finance Income and finance Costs | Three months ended Three months ended Six months ended Six months ended June 30, 2020 June 30, 2019 June 30, 2020 June 30, 2019 Interest SVB Loan Agreement (59) (128) (116) (283) Foreign exchange differences (1,022) (728) 554 28 Finance cost lease liability (6) (6) (13) (13) Other finance income/finance costs 71 208 166 448 Gain from the modification of SVB Loan Agreement (see note 10) 62 0 62 0 Finance income/costs - net (954) (654) 653 180 |
Share-based payments (Tables)
Share-based payments (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
Share-based payments | |
Assumptions of Options Granted | June 30, 2020 June 30, 2019 Fair value at grant date $ 1.81 $ 2.11 Share price at grant date $ 2.50 $ 3.04 Exercise price $ 2.50 $ 3.04 Expected volatility 91 % 82 % Expected life 5.90 Expected dividends 0.00 0.00 Risk-free interest rate 1.30 % 2.14 % |
Related parties (Tables)
Related parties (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
Related parties | |
Transaction and Outstanding Balances Related to Key Management Personnel | Outstanding balances June 30, December 31, Adi Hoess 0 5 Wolfgang Fischer 0 1 Dr. Thomas Hecht 19 26 Berndt Modig 9 9 Ferdinand Verdonck 11 11 Dr. Ulrich Grau 17 21 Dr. Bernhard Ehmer 16 20 Mathieu Simon 8 9 |
Basis of preparation and chan_4
Basis of preparation and changes to Group's accounting policies (Details) | 6 Months Ended |
Jun. 30, 2020 | |
Amendments To References To The Conceptional Framework | |
Disclosure of initial application of standards or interpretations [line items] | |
Standard/amendment | Amendments to References to the Conceptional Framework |
Effective date for new standards and interpretations applied for the first time | Jan. 1, 2020 |
Amendments to IAS 1 and IAS 8: Definition of Material | |
Disclosure of initial application of standards or interpretations [line items] | |
Standard/amendment | Amendments to IAS 1 and IAS 8: Definition of Material |
Effective date for new standards and interpretations applied for the first time | Jan. 1, 2020 |
Amendments To IFRS 9, IAS 39 And IFRS 7: Interest Rate Benchmark Reform | |
Disclosure of initial application of standards or interpretations [line items] | |
Standard/amendment | Amendments to IFRS 9, IAS 39 and IFRS 7: Interest Rate Benchmark Reform |
Effective date for new standards and interpretations applied for the first time | Jan. 1, 2020 |
Amendments to IFRS 3 Business Combination | |
Disclosure of initial application of standards or interpretations [line items] | |
Standard/amendment | Amendments to IFRS 3 Business Combination |
Effective date for new standards and interpretations applied for the first time | Jan. 1, 2020 |
Amendment to IFRS 16 Leases Covid 19-Related Rent Concessions [Member] | |
Disclosure of initial application of standards or interpretations [line items] | |
Standard/amendment | Amendment to IFRS 16 Leases Covid 19-Related Rent Concessions |
Effective date for new standards and interpretations applied for the first time | Jun. 1, 2020 |
Basis of preparation and chan_5
Basis of preparation and changes to Group's accounting policies - New standards and interpretations not yet adopted (Details) | 6 Months Ended |
Jun. 30, 2020 | |
Amendments to IAS 1 Presentation of Financial Statements Classification of Liabilities As current or Non current | |
Disclosure of initial application of standards or interpretations [line items] | |
Standard/amendment | Classification of Liabilities as Current or Non-current |
Effective date for new standards and interpretations applied for the first time | Jan. 1, 2022 |
Amendments to IFRS 3 Business Combinations | |
Disclosure of initial application of standards or interpretations [line items] | |
Standard/amendment | Amendments to IFRS 3 Business Combinations |
Effective date for new standards and interpretations applied for the first time | Jan. 1, 2022 |
Amendments to IAS 16 Property, Plant and Equipment | |
Disclosure of initial application of standards or interpretations [line items] | |
Standard/amendment | Amendments to IAS 16 Property, Plant and Equipment |
Effective date for new standards and interpretations applied for the first time | Jan. 1, 2022 |
Amendments to AS 37 Provisions, Contingent Liabilities and Contingent Assets | |
Disclosure of initial application of standards or interpretations [line items] | |
Standard/amendment | Amendments to AS 37 Provisions, Contingent Liabilities and Contingent Assets |
Effective date for new standards and interpretations applied for the first time | Jan. 1, 2022 |
Annual Improvements 2018-2020 | |
Disclosure of initial application of standards or interpretations [line items] | |
Standard/amendment | Annual Improvements 2018-2020 |
Effective date for new standards and interpretations applied for the first time | Jan. 1, 2022 |
Revenue - Additional Informatio
Revenue - Additional Information (Details) € in Thousands, $ in Millions | 1 Months Ended | 3 Months Ended | 6 Months Ended | 12 Months Ended | |||||
Oct. 31, 2018USD ($) | Oct. 31, 2018EUR (€) | Jun. 30, 2020EUR (€) | Jun. 30, 2019EUR (€) | Jun. 30, 2020USD ($) | Jun. 30, 2020EUR (€) | Jun. 30, 2019EUR (€) | Dec. 31, 2019EUR (€) | Jun. 30, 2020EUR (€) | |
Other revenue information | |||||||||
Contingent payment upon achievement of certain milestone under the collaboration agreement | $ | $ 4.4 | ||||||||
Revenue under contract liabilities | € 2,749 | € 7,580 | |||||||
Remaining performance obligations | € 51,700 | ||||||||
Remaining performance obligation period | 2 years | 2 years | |||||||
Leukemia & Lymphoma Society | |||||||||
Other revenue information | |||||||||
Revenue | € 100 | € 0 | |||||||
AbCheck | |||||||||
Other revenue information | |||||||||
Revenue | 200 | € 300 | 400 | 1,100 | |||||
Genentech Inc | |||||||||
Other revenue information | |||||||||
Revenue | € 2,700 | € 3,700 | 7,600 | € 14,300 | |||||
Collaboration agreement initial upfront payment received | $ 96 | € 83,200 | |||||||
Revenue under contract liabilities | € 51,700 | € 59,300 | |||||||
Additional payments upon achievement of milestones | $ | $ 5,000 |
Revenue (Details)
Revenue (Details) - EUR (€) € in Thousands | Jun. 30, 2020 | Dec. 31, 2019 |
Revenue. | ||
Receivables | € 45 | € 204 |
Contract liabilities | € 51,739 | € 59,314 |
Revenue - Disaggregation of rev
Revenue - Disaggregation of revenue (Details) - EUR (€) € in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | |
Other revenue information | ||||
Revenues | € 2,934 | € 4,008 | € 8,069 | € 15,361 |
Point in time | ||||
Other revenue information | ||||
Revenues | 106 | 0 | 283 | 5,633 |
Over time | ||||
Other revenue information | ||||
Revenues | 2,828 | 4,008 | 7,786 | 9,728 |
Germany | ||||
Other revenue information | ||||
Revenues | 0 | 0 | 75 | 0 |
Europe | ||||
Other revenue information | ||||
Revenues | 0 | 325 | 2 | 1,077 |
USA | ||||
Other revenue information | ||||
Revenues | 2,934 | 3,683 | 7,992 | 14,284 |
Collaboration | ||||
Other revenue information | ||||
Revenues | 2,793 | 3,683 | 7,716 | 14,284 |
Service | ||||
Other revenue information | ||||
Revenues | € 141 | € 325 | € 353 | € 1,077 |
Finance income and finance co_3
Finance income and finance costs (Details) - EUR (€) € in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | |
Disclosure of Finance Income and Finance Costs Line Items] | ||||
Finance income/costs - net | € (954) | € (654) | € 653 | € 180 |
Interest SVB Loan Agreement | ||||
Disclosure of Finance Income and Finance Costs Line Items] | ||||
Finance income/costs - net | (59) | (128) | (116) | (283) |
Foreign exchange differences | ||||
Disclosure of Finance Income and Finance Costs Line Items] | ||||
Finance income/costs - net | (1,022) | (728) | 554 | 28 |
Finance cost lease liability | ||||
Disclosure of Finance Income and Finance Costs Line Items] | ||||
Finance income/costs - net | (6) | (6) | (13) | (13) |
Other finance income/finance costs - net | ||||
Disclosure of Finance Income and Finance Costs Line Items] | ||||
Finance income/costs - net | 71 | 208 | 166 | 448 |
Gain from the modification of SVB Loan Agreement | ||||
Disclosure of Finance Income and Finance Costs Line Items] | ||||
Finance income/costs - net | € 62 | € 0 | € 62 | € 0 |
Long term financial assets (Det
Long term financial assets (Details) - EUR (€) € in Thousands | 3 Months Ended | 6 Months Ended | 12 Months Ended | |
Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Dec. 31, 2019 | |
Disclosure of financial assets [line items] | ||||
Fair value of preferred shares | € 3,200 | |||
Increase in fair value | € 10 | € 24 | ||
Decrease in fair value | € 71 | € 49 | ||
Preferred Shares | ||||
Disclosure of financial assets [line items] | ||||
Fair value of preferred shares | € 3,200 | € 3,200 |
Financial assets (Details)
Financial assets (Details) | 6 Months Ended | 12 Months Ended |
Jun. 30, 2020 | Dec. 31, 2019 | |
Financial assets | ||
Minimum Maturity period of certificate of deposits | 3 months | 3 months |
Equity (Details)
Equity (Details) - EUR (€) € / shares in Units, € in Thousands | Jun. 30, 2020 | May 31, 2020 | Dec. 31, 2019 |
Issued capital | € 845 | € 762 | |
Number of shares outstanding | 84,493,155 | 76,249,901 | |
Par value | € 0.01 | € 0.01 | |
Number of common shares authorized to issue at the market | 50,000,000 | ||
Issued Capital | |||
Authorized capital | € 21,000 | ||
At-the-market sales agreement | |||
Number of shares issued | 8,100,000 |
Share-based payments (Details)
Share-based payments (Details) | 1 Months Ended | 6 Months Ended | |
Apr. 30, 2018D | Jun. 30, 2020USD ($)Y$ / shares | Jun. 30, 2019USD ($)Y$ / shares | |
Share-based payments | |||
Fair value at grant date | $ 1.81 | $ 2.11 | |
Share price at grant date | $ / shares | $ 2.50 | $ 3.04 | |
Expected volatility | 91.00% | 82.00% | |
Expected life | 2 | 5.90 | 5.83 |
Expected dividends | $ 0 | $ 0 | |
Risk-free interest rate | 1.30% | 2.14% |
Share-based payments - Addition
Share-based payments - Additional Information (Details) $ / shares in Units, € in Thousands, $ in Thousands | 1 Months Ended | 3 Months Ended | 6 Months Ended | 12 Months Ended | |||||
Apr. 30, 2018USD ($)EquityInstrumentsDtranche$ / shares | Apr. 30, 2018EUR (€)EquityInstrumentsDtranche | Jun. 30, 2020EUR (€)EquityInstrumentsshares | Jun. 30, 2019EUR (€) | Jun. 30, 2020EquityInstruments$ / shares | Jun. 30, 2020EUR (€)EquityInstrumentsYshares | Jun. 30, 2019$ / shares | Jun. 30, 2019EUR (€)Y | Dec. 31, 2019EquityInstruments | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||
Exercise price | $ 2.50 | $ 3.04 | |||||||
Number of options issued | EquityInstruments | 240,000 | 240,000 | |||||||
Number of tranches | tranche | 3 | 3 | |||||||
Trading days | 15 days | 15 days | |||||||
Share price at grant date | $ 2.50 | $ 3.04 | |||||||
Grant date fair value | $ 164 | € 133 | |||||||
Expected life | 2 | 2 | 5.90 | 5.83 | |||||
Options exercisable | D | 0 | 0 | |||||||
Share-based expense | € | € 684 | € 566 | € 1,410 | € 1,167 | |||||
Tranche I | |||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||
Share price at grant date | $ 6.15 | ||||||||
Tranche II | |||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||
Share price at grant date | 8.20 | ||||||||
Tranche III | |||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||
Share price at grant date | $ 10.25 | ||||||||
Research and Development | |||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||
Share-based expense | € | 400 | 231 | 717 | 500 | |||||
General and Administrative | |||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||
Share-based expense | € | € 284 | € 335 | € 693 | € 667 | |||||
ESOP 2014 | |||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||
Vesting period (in years) | 3 years | ||||||||
Awards granted | EquityInstruments | 478,750 | 1,388,559 | |||||||
Awards cancelled or forfeited | EquityInstruments | 58,729 | 183,141 | |||||||
Awards outstanding | EquityInstruments | 8,315,978 | 7,307,567 | |||||||
Awards exercised | shares | 197,007 | 197,007 | |||||||
Awards vested | EquityInstruments | 5,623,642 | 4,773,840 | |||||||
Exercise period | 10 years | ||||||||
ESOP 2014 | Minimum | |||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||
Exercise price | $ 1.30 | ||||||||
ESOP 2014 | Maximum | |||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||
Exercise price | $ 13.47 |
Provisions (Details)
Provisions (Details) - EUR (€) € in Millions | 12 Months Ended | |
Dec. 31, 2019 | Jun. 30, 2020 | |
Provisions | ||
Termination cost | € 1.4 | |
Termination cost incurred | 0.9 | |
Expected termination cost | € 0.5 | € 0.5 |
Borrowings - Additional Informa
Borrowings - Additional Information (Details) € in Thousands | Nov. 30, 2016EUR (€)tranche | Jun. 30, 2020EUR (€) | Jun. 30, 2019EUR (€) | Jun. 30, 2020EUR (€) | Jun. 30, 2019EUR (€) | Dec. 31, 2019EUR (€) | Apr. 30, 2019EUR (€) | Dec. 31, 2018$ / sharesshares | Dec. 31, 2017$ / sharesshares | Sep. 30, 2017EUR (€) | May 31, 2017EUR (€) | Dec. 31, 2016EUR (€) |
Disclosure of detailed information about borrowings [line items] | ||||||||||||
Finance income/costs - net | € (954) | € (654) | € 653 | € 180 | ||||||||
Loan payable, current | 947 | 947 | € 2,013 | |||||||||
SVB loan | ||||||||||||
Disclosure of detailed information about borrowings [line items] | ||||||||||||
Floor rate | 5.50% | |||||||||||
Legal and arrangement fee | € 236 | |||||||||||
Final payment fee percentage on principal | 10.00% | |||||||||||
Warrants to purchase common shares | shares | 166,297 | 53,395 | ||||||||||
Exercise price of share | $ / shares | $ 2 | $ 2.30 | ||||||||||
Expiration period | 10 years | |||||||||||
Change in fair value of warrant | € 192 | |||||||||||
Change in deferred tax on warrant equity | 81 | |||||||||||
Change in transaction cost | € 8 | |||||||||||
Exercise period | 5 years | |||||||||||
Fair value of financial liabilities | 947 | 947 | 2,013 | |||||||||
Senior Secured Term Loan Facility | ||||||||||||
Disclosure of detailed information about borrowings [line items] | ||||||||||||
Maximum borrowing capacity | € 10,000 | |||||||||||
Number of tranches | tranche | 3 | |||||||||||
Undrawn borrowings | € 2,500 | |||||||||||
Senior Secured Term Loan Facility Tranche One | ||||||||||||
Disclosure of detailed information about borrowings [line items] | ||||||||||||
Borrowings | € 5,000 | |||||||||||
Senior Secured Term Loan Facility Tranche Two | ||||||||||||
Disclosure of detailed information about borrowings [line items] | ||||||||||||
Borrowings | € 2,500 | |||||||||||
Loan agreement with UniCredit Leasing CZ | ||||||||||||
Disclosure of detailed information about borrowings [line items] | ||||||||||||
Borrowings | 323 | 323 | 368 | € 562 | ||||||||
Loan repaid | 127 | |||||||||||
Monthly repayment installment | 8 | 8 | ||||||||||
Current liabilities | € 92 | 92 | € 93 | |||||||||
Loan agreement with UniCredit Leasing CZ | ||||||||||||
Disclosure of detailed information about borrowings [line items] | ||||||||||||
Finance income/costs - net | € 62 | |||||||||||
EURIBOR | SVB loan | ||||||||||||
Disclosure of detailed information about borrowings [line items] | ||||||||||||
Variable interest rate | 5.50% | |||||||||||
Minimum | SVB loan | ||||||||||||
Disclosure of detailed information about borrowings [line items] | ||||||||||||
Volatility | 75.00% | |||||||||||
Maximum | SVB loan | ||||||||||||
Disclosure of detailed information about borrowings [line items] | ||||||||||||
Volatility | 80.00% |
Borrowings - Movements of Liabi
Borrowings - Movements of Liabilities Reconcile to Cash Flows Arising from Financing Activities (Details) - EUR (€) € in Thousands | 6 Months Ended | |
Jun. 30, 2020 | Jun. 30, 2019 | |
Movements of liabilities reconcile to cash flows arising from financing activities | ||
Proceeds from borrowings | € 0 | € 562 |
Repayment of borrowings | € (1,128) | € (1,649) |
Related parties - Outstanding B
Related parties - Outstanding Balances (Details) - EUR (€) € in Thousands | Jun. 30, 2020 | Dec. 31, 2018 |
Adi Hoess | ||
Disclosure of transactions between related parties [line items] | ||
Key management personnel outstanding balance | € 0 | € 5 |
Wolfgang Fischer | ||
Disclosure of transactions between related parties [line items] | ||
Key management personnel outstanding balance | 0 | 1 |
Dr. Thomas Hecht | ||
Disclosure of transactions between related parties [line items] | ||
Key management personnel outstanding balance | 19 | 26 |
Berndt Modig | ||
Disclosure of transactions between related parties [line items] | ||
Key management personnel outstanding balance | 9 | 9 |
Ferdinand Verdonck | ||
Disclosure of transactions between related parties [line items] | ||
Key management personnel outstanding balance | 11 | 11 |
Dr. Ulrich Grau | ||
Disclosure of transactions between related parties [line items] | ||
Key management personnel outstanding balance | 17 | 21 |
Dr. Bernhard Ehmer | ||
Disclosure of transactions between related parties [line items] | ||
Key management personnel outstanding balance | 16 | 20 |
Mathieu Simon | ||
Disclosure of transactions between related parties [line items] | ||
Key management personnel outstanding balance | € 8 | € 9 |
Related parties - Additional In
Related parties - Additional Information (Details) - EUR (€) € in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | |
Disclosure of transactions between related parties [line items] | ||||
Share-based expense | € 684 | € 566 | € 1,410 | € 1,167 |
Termination benefits | 120 | |||
Supervisory Board Directors | ||||
Disclosure of transactions between related parties [line items] | ||||
Compensation received for their services | 96 | 100 | 181 | 195 |
Share-based expense | 17 | 19 | 53 | 40 |
Key Management Personnel Member | ||||
Disclosure of transactions between related parties [line items] | ||||
Compensation received for their services | 593 | 708 | 1,198 | 1,414 |
Share-based expense | € 361 | € 320 | € 721 | € 723 |