Ascendis Pharma A/S (ASND) 6-K 2 Nov 22 2022 Q3 Current report (foreign) Financial data

Cover Page

Cover Page	9 Months Ended
	Sep. 30, 2022
Document Information [Line Items]
Document Type	6-K
Amendment Flag	false
Document Period End Date	Sep. 30, 2022
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q3
Entity Registrant Name	Ascendis Pharma A/S
Entity Central Index Key	0001612042
Current Fiscal Year End Date	--12-31

Consolidated Statements of Prof

Consolidated Statements of Profit or Loss and Other Comprehensive Income - EUR (€) € in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Profit or loss [abstract]
Revenue		€ 15,290	€ 1,113	€ 28,278	€ 2,881
Cost of sales		1,693	0	7,025	0
Gross profit		13,597	1,113	21,253	2,881
Research and development costs		97,431	58,761	271,006	230,216
Selling, general and administrative expenses		60,671	39,284	164,675	111,876
Operating profit / (loss)		(144,505)	(96,932)	(414,428)	(339,211)
Share of profit / (loss) of associate		(3,696)	(3,855)	(9,736)	19,434
Finance income		20,326	21,321	73,797	44,589
Finance expenses		41,247	877	25,381	2,580
Profit / (loss) before tax		(169,122)	(80,343)	(375,748)	(277,768)
Tax on profit / (loss) for the period		167	(5)	(28)	253
Net profit / (loss) for the period		(168,955)	(80,348)	(375,776)	(277,515)
Attributable to owners of the Company		€ (168,955)	€ (80,348)	€ (375,776)	€ (277,515)
Basic and diluted earnings / (loss) per share		€ (3.03)	€ (1.47)	€ (6.70)	€ (5.13)
Number of shares used for calculation (basic and diluted)	[1]	55,831,561	54,639,597	56,115,782	54,085,793
Statement of comprehensive income [abstract]
Net profit / (loss) for the period		€ (168,955)	€ (80,348)	€ (375,776)	€ (277,515)
Items that may be reclassified subsequently to profit or loss:
Exchange differences on translating foreign operations		(2,207)	1,016	(2,538)	2,781
Other comprehensive income / (loss) for the period, net of tax		(2,207)	1,016	(2,538)	2,781
Total comprehensive income / (loss)		(171,162)	(79,332)	(378,314)	(274,734)
Attributable to owners of the Company		€ (171,162)	€ (79,332)	€ (378,314)	€ (274,734)
[1] As of September 30, 2022, a total of 6,937,495 warrants outstanding, each carrying the right to subscribe for one ordinary share, and 575,000 convertible senior notes which can potentially be converted into 3,456,785 ordinary shares, can potentially dilute earnings per share in the future but have not been included in the calculation of diluted earnings per share because they are antidilutive for the periods presented. Similarly, a total of 6,046,356 warrants outstanding as of September 30, 2021 , are also considered antidilutive for the periods presented and have not been included in the calculation. The weighted average number of shares takes into account the weighted average effect of changes in treasury shares during the period.

Consolidated Statements of Pr_2

Consolidated Statements of Profit or Loss and Other Comprehensive Income (Parenthetical) - shares	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Warrants outstanding	6,937,495	6,046,356
Convertible Senior Notes [Member]
Convertible notes	575,000
Ordinary shares [member]
Warrants outstanding	3,456,785

Consolidated Statements of Fina

Consolidated Statements of Financial Position - EUR (€) € in Thousands	Sep. 30, 2022	Dec. 31, 2021
Non-current assets [abstract]
Intangible assets	€ 4,939	€ 5,272
Property, plant and equipment	139,345	126,049
Investment in associate	32,001	38,345
Other receivables	1,895	1,808
Marketable securities	15,338	107,561
Total non-current assets	193,518	279,035
Current assets
Inventories	103,975	75,405
Trade receivables	6,655	2,200
Income tax receivables	1,630	893
Other receivables	13,264	20,093
Prepayments	34,568	25,231
Marketable securities	311,480	235,797
Cash and cash equivalents	608,330	446,267
Total current assets	1,079,902	805,886
Total assets	1,273,420	1,084,921
Equity
Share capital	7,658	7,646
Distributable equity	443,894	875,989
Total equity	451,552	883,635
Non-current liabilities
Borrowings	533,145	97,966
Derivative liabilities	132,731	0
Contract liabilities	13,154	2,964
Total non-current liabilities	679,030	100,930
Current liabilities
Borrowings	20,096	6,995
Contract liabilities	3,137	2,601
Trade payables and accrued expenses	86,102	59,417
Other liabilities	26,578	29,952
Income taxes payable	126	198
Provisions	6,799	1,193
Total current liabilities	142,838	100,356
Total liabilities	821,868	201,286
Total equity and liabilities	€ 1,273,420	€ 1,084,921

Consolidated Statements of Chan

Consolidated Statements of Changes in Equity - EUR (€) € in Thousands	Total	Share Capital [member]	Share Premium [member]	Treasury Shares [member]	Foreign Currency Translation Reserve [member]	Share-based Payment Reserve [member]	Accumulated Deficit [member]
Equity at Dec. 31, 2020	€ 838,711	€ 7,217	€ 1,728,747	€ 0	€ (76)	€ 133,101	€ (1,030,278)
Net profit / (loss) for the period	(277,515)						(277,515)
Other comprehensive income / (loss), net of tax	2,781				2,781		0
Total comprehensive income / (loss)	(274,734)			0	2,781		(277,515)
Share-based payment (Note 7)	52,684					52,684
Capital increase	397,068	421	396,647
Cost of Capital increase	(20,167)		(20,167)
Equity at Sep. 30, 2021	993,562	7,638	2,105,227	0	2,705	185,785	(1,307,793)
Equity at Dec. 31, 2021	883,635	7,646	2,107,739	(21,605)	3,779	199,931	(1,413,855)
Net profit / (loss) for the period	(375,776)						(375,776)
Other comprehensive income / (loss), net of tax	(2,538)				(2,538)
Total comprehensive income / (loss)	(378,314)				(2,538)		(375,776)
Share-based payment (Note 7)	50,307					50,307
Acquisition of treasury shares (Note 9)	(106,099)			(106,099)
Capital increase	2,023	12	2,011
Equity at Sep. 30, 2022	€ 451,552	€ 7,658	€ 2,109,750	€ (127,704)	€ 1,241	€ 250,238	€ (1,789,631)

Consolidated Cash Flow Statemen

Consolidated Cash Flow Statements - EUR (€) € in Thousands	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Operating activities
Net profit / (loss) for the period	€ (375,776)	€ (277,515)
Reversal of finance income	(73,797)	(44,589)
Reversal of finance expenses	25,381	2,580
Reversal of gain and loss on disposal of property, plant and equipment	22	0
Reversal of tax charge	28	(253)
Increase / (decrease) in provisions	4,954	0
Adjustments for non-cash items:
Non-cash consideration relating to revenue	(1,913)	(1,749)
Share of profit / (loss) of associate	9,736	(19,434)
Share-based payment	50,307	52,684
Depreciation	12,988	10,784
Amortization	333	333
Changes in working capital:
Inventories	(28,571)	(55,270)
Receivables	(6,074)	(9,295)
Prepayments	(8,869)	(8,246)
Contract liabilities (deferred income)	10,727	(327)
Trade payables, accrued expenses and other payables	22,528	54,302
Cash flows generated from / (used in) operations	(357,996)	(295,995)
Finance income received	6,808	2,919
Finance expenses paid	(2,026)	(1,056)
Income taxes received / (paid)	(800)	(207)
Cash flows from / (used in) operating activities	(354,014)	(294,339)
Investing activities
Investment in associate	0	(10,187)
Acquisition of property, plant and equipment	(10,707)	(18,907)
Reimbursement from acquisition of property, plant and equipment	9,535	0
Development expenditures (software)	0	(530)
Purchase of marketable securities	(160,839)	(87,544)
Settlement of marketable securities	224,540	118,512
Cash flows from / (used in) investing activities	62,529	1,344
Financing activities
Payment of principal portion of lease liabilities	(4,577)	(4,885)
Net proceeds from convertible senior notes	503,281	0
Proceeds from exercise of warrants	2,023	9,209
Net proceeds from follow-on public offerings	0	367,692
Acquisition of treasury shares, net of transaction costs	(105,303)	0
Cash flows from / (used in) financing activities	395,424	372,016
Increase / (decrease) in cash and cash equivalents	103,939	79,021
Cash and cash equivalents at January 1	446,267	584,517
Effect of exchange rate changes on balances held in foreign currencies	58,124	29,403
Bank deposits	604,018	692,941
Short-term marketable securities	4,312	0
Cash and cash equivalents at September 30	€ 608,330	€ 692,941

General Information

General Information	9 Months Ended
	Sep. 30, 2022
Disclosure of General Information [Abstract]
General Information	No te 1—General Information Ascendis Pharma A/S, together with its subsidiaries, is applying its innovative TransCon technologies to build a leading, fully integrated, global, biopharma company. Ascendis Pharma A/S was incorporated in 2006 and is headquartered in Hellerup, Denmark. Unless the context otherwise requires, references to the “Company,” “we,” “us,” and “our”, refer to Ascendis Pharma A/S and its subsidiaries. The address of the Company’s registered office is Tuborg Boulevard 12, DK-2900, Hellerup, Denmark. On February 2, 2015, the Company completed an initial public offering which resulted in the listing of American Depositary Shares (“ADSs”), representing the Company’s ordinary shares, under the symbol “ASND” in the United States on The Nasdaq Global Select Market. The Company’s Board of Directors approved these unaudited condensed consolidated interim financial statements on November 2, 2022 .

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2022
Disclosure of voluntary change in accounting policy [abstract]
Summary of Significant Accounting Policies	Note 2—Summary of Significant Accounting Policies Basis of Preparation The unaudited condensed consolidated interim financial statements of the Company are prepared in accordance with International Accounting Standard 34, “Interim Financial Reporting.” Certain information and disclosures normally included in the annual consolidated financial statements prepared in accordance with International Financial Reporting Standards (“IFRS”) have been condensed or omitted. Accordingly, these unaudited condensed consolidated interim financial statements should be read in conjunction with the Company’s audited annual consolidated financial statements for the year ended December 31, 2021, and accompanying notes, which have been prepared in accordance with IFRS as issued by the International Accounting Standards Board (the “IASB”) and as adopted by the European Union (the “EU”). The accounting policies applied are consistent with those of the previous financial year. A description of the accounting policies is provided in the Accounting Policies section of the audited consolidated financial statements as of and for the year ended December 31, 2021. In addition, the accounting policy for convertible senior notes and derivative liabilities, applied for the first time in this reporting period, is described below. The preparation of financial statements in conformity with IFRS requires the use of certain significant accounting estimates and requires management to exercise its judgement in the process of applying the Company’s accounting policies. The areas involving a higher degree of judgement or complexity, or areas where assumptions and estimates are significant to the unaudited condensed consolidated interim financial statements are disclosed in Note 3, “Significant Accounting Judgements and Estimates”. Convertible Senior Notes and Derivative Liabilities Convertible senior notes (“convertible notes”) are separated into a financial liability and an embedded derivative component based on the terms and conditions of the contract. The embedded derivative component is accounted for separately if this is not deemed closely related to the financial liability. The convertible notes include an embedded equity conversion option which is not deemed closely related to the financial liability and is therefore initially recognized and measured separately at fair value as a derivative liability based on the stated terms upon issuance of the convertible notes. The conversion option is classified as a foreign currency conversion option which is not convertible into a fixed number of shares for a fixed amount of cash. Accordingly, the conversion option is recognized and measured as a derivative liability at fair value through profit or loss, with any subsequent remeasurement gains or losses recognized as part of financial income or expenses. In addition, the convertible notes include a redemption option, which entitle the Company to redeem the notes at a cash amount equal to the principal amount of the convertible notes, plus accrued and unpaid interest. The redemption option is closely related to the financial liability, and therefore is not separately accounted for. The initial carrying amount of the financial liability component including the redemption option is the residual amount of the proceeds, net of allocated transaction costs, after separating the derivative component. Transaction costs are apportioned between the financial liability and derivative component based on the allocation of proceeds when the instrument is initially recognized. Transaction costs apportioned to the financial liability component form part of the effective interest and are amortized over the expected lifetime of the liability. Transaction costs allocated to the derivative component are expensed as incurred. The financial liability is subsequently measured at amortized cost until it is extinguished on conversion, optional redemption or upon repayment at maturity. The financial liability is presented as part of borrowings on the statement of financial position. New International Financial Reporting Standards Not Yet Effective The IASB has issued a number of new or amended standards, which have not yet become effective or have not yet been adopted by the EU. Therefore, these new standards have not been incorporated in these unaudited condensed consolidated interim financial statements. Amendments to IAS 1, “Classification of Liabilities as Current or Non-current” In January 2020, the IASB issued amendments to paragraphs 69 to 76 of IAS 1, “Presentation of Financial Statements”, to specify the requirements for classifying liabilities as current or non-current. The amendments clarify: • What is meant by a right to defer settlement; • That a right to defer must exist at the end of the reporting period; • That classification is unaffected by the likelihood that an entity will exercise its deferral right; and • That only if an embedded derivative in a convertible liability is itself an equity instrument would the terms of a liability not impact its classification. If approved by the EU, the amendments are effective for annual reporting periods beginning on or after January 1, 2024, and must be applied retrospectively. The amendments are expected to require the convertible notes (presented as part of borrowings on the statement of financial position) and derivative liabilities, both presented as non-current liabilities at September 30, 2022, to be presented as current liabilities. On September 30, 2022, the carrying amount of convertible notes and derivative liabilities were € 434.4 million and € 132.7 million, respectively. The consolidated financial statements are not expected to be affected by other new or amended standards.

Significant Accounting Judgemen

Significant Accounting Judgements and Estimates	9 Months Ended
	Sep. 30, 2022
Disclosure of voluntary change in accounting policy [abstract]
Significant Accounting Judgements and Estimates	Note 3—Significant Accounting Judgements and Estimates In the application of the Company’s accounting policies, management is required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. Judgements, estimates and assumptions applied are based on historical experience and other factors that are relevant, and which are available at the reporting date. Uncertainty concerning estimates and assumptions could result in outcomes, that require a material adjustment to assets and liabilities in future periods. The unaudited condensed consolidated interim financial statements do not include all disclosures for significant accounting judgements, estimates and assumptions, that are required in the annual consolidated financial statements, and therefore, should be read in conjunction with the Company’s audited consolidated financial statements as of and for the year ended December 31, 2021. Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognized prospectively. While the application of critical accounting estimates is subject to material estimation uncertainties, management’s ongoing revisions of critical accounting estimates and underlying assumptions have not revealed any material impact in any of the periods presented in the unaudited condensed consolidated interim financial statements. Other than as set out below, there have been no other changes to the application of significant accounting judgements, or estimation uncertainties regarding accounting estimates compared to December 31, 2021. Valuation of Embedded Derivatives The foreign currency conversion option, embedded in the convertible notes, is accounted for separately as a derivative liability at fair value through profit or loss. Fair value cannot be measured based on quoted prices in active markets or other observable inputs, and accordingly, derivative liabilities are measured by using the Black-Scholes option pricing model. Subjective judgements and assumptions, which are subject to estimation uncertainties, need to be exercised in determining the appropriate unobservable input to the valuation model (Level 3 in the fair value hierarchy). This input includes volatility of the Company’s share price for a historic period, reflecting the assumption that the historical volatility is indicative of a period similar to the expected lifetime of the option. Changes in assumptions relating to these factors could affect the reported fair value of derivative liabilities.

Significant Events in the Repor

Significant Events in the Reporting Period	9 Months Ended
	Sep. 30, 2022
Significant Events in the Reporting Period [Abstract]
Significant Events In the Reporting Period	Note 4—Significant Events in the Reporting Period COVID-19 Pandemic The COVID-19 pandemic has affected countries where we are operating, where we have planned or have ongoing clinical trials, and where we rely on third-parties to manufacture preclinical, clinical and commercial supply. COVID-19 did not have a direct material impact on the unaudited condensed consolidated interim financial statements. Conflict in the Region Surrounding Ukraine and Russia The ongoing conflict in the region surrounding Ukraine and Russia has impacted our ability to continue clinical trial activities in those countries. The conflict did not have a direct material impact on the unaudited condensed consolidated interim financial statements. Leases In February 2022, the Company entered into a facility lease in Germany with an enforceable lease term of 15 years , which is expected to commence in 2025. Subject to changes in terms and conditions and development in interest rates, an initial lease liability and corresponding right-of-use asset of € 55.2 million is expected to be recognized at the commencement date. Convertible Senior Notes Offering In March 2022, the Company issued an aggregate principal amount of $ 575.0 million of fixed rate 2.25 % convertible notes. The net proceeds from the offering were $ 557.9 million (€ 503.3 million), after deducting the initial purchasers’ discounts and commissions and offering expenses. Further details are disclosed in Note 10, “Financial Assets and Financial Liabilities”. Acquisition of Treasury Shares The Company used $ 116.7 million (€ 105.3 million) of the net proceeds from the offering of the convertible notes to repurchase 1,000,000 ADSs representing the Company’s ordinary shares. Total holding of treasury shares is disclosed in Note 9, “Treasury Shares”. Related Party Transactions The nine months ended September 30, 2022, included invoicing for delivery of future clinical and commercial supply to the Company's associate. At September 30, 2022 , € 16.1 million is presented as part of contract liabilities on the statement of financial position.

Revenue

Revenue	9 Months Ended
	Sep. 30, 2022
Revenue [abstract]
Revenue	Note 5—Revenue Revenue from commercial sale of products relates to sale of SKYTROFA ® (lonapegsomatropin-tcgd) on the U.S. market, which is sold to specialty pharmacies and a specialty distributor (“commercial customers”). Customer payment terms are typically 30 days from the transaction date. SKYTROFA was approved by the U.S. Food and Drug Administration in August 2021, and the Company began shipping products to commercial customers in the fourth quarter of 2021. Other revenue is generated primarily from three license agreements, which were entered into in 2018. The licenses grant VISEN Pharmaceuticals exclusive rights to develop and commercialize TransCon hGH, TransCon PTH and TransCon CNP in Greater China. Three Months Ended Nine Months Ended 2022 2021 2022 2021 (EUR’000) (EUR’000) Revenue from external customers Commercial sale of products 12,252 — 18,575 — Rendering of services 2,401 203 3,385 599 Sale of clinical supply — 316 4,405 533 Licenses 637 594 1,913 1,749 Total revenue from external customers 15,290 1,113 28,278 2,881 Attributable to Commercial customers 12,252 — 18,575 — Collaboration partners and license agreements 3,038 1,113 9,703 2,881 Total revenue from external customers 15,290 1,113 28,278 2,881 Specified by timing of recognition Recognized over time 2,401 203 3,385 599 Recognized at a point in time 12,889 910 24,893 2,282 Total revenue from external customers 15,290 1,113 28,278 2,881 Revenue by geographical location Europe 151 — 426 — North America 12,889 702 24,424 2,076 China 2,250 411 3,428 805 Total revenue from external customers 15,290 1,113 28,278 2,881

Segment Information

Segment Information	9 Months Ended
	Sep. 30, 2022
Disclosure of operating segments [abstract]
Segment Information	Note 6—Segment Information The Company is managed and operated as one business unit. No separate business areas or separate business units have been identified in relation to product candidates or geographical markets. Accordingly, no additional information on business segments or geographical areas is disclosed.

Share-based Payment

Share-based Payment	9 Months Ended
	Sep. 30, 2022
Disclosure of terms and conditions of share-based payment arrangement [abstract]
Share-based Payment	Note 7—Share-based Payment As an incentive to the Executive Board, employees, members of the Board of Directors and select consultants, Ascendis Pharma A/S has established warrant programs and, since December 2021, a Restricted Stock Unit program (“RSU program”), which are equity-settled share-based payment transactions. Share-based Compensation Costs Share-based compensation costs are determined using the grant date fair value of warrants and Restricted Stock Units (“RSUs”) granted and are recognized over the vesting period as research and development costs, selling, general and administrative expenses, or cost of sales. For the three and nine months ended September 30, 2022 and 2021, share-based compensation costs recognized in the unaudited condensed consolidated interim statement of profit or loss were € 13.5 million and € 50.3 , respectively, and € 13.3 million and € 52.7 million, respectively. Restricted Stock Unit Program RSUs are granted by the Board of Directors in accordance with authorizations given to it by the shareholders of Ascendis Pharma A/S to the Executive Board, select employees and members of the Board of Directors (“RSU-holders”) in accordance with the Company’s RSU program adopted in December 2021. In addition, RSUs may be granted to select consultants. One RSU represents a right for the RSU-holder to receive one ADS of Ascendis Pharma A/S upon vesting if the vesting conditions are met, or waived by the Board of Directors at its discretion. All RSUs are hedged by treasury shares that have been repurchased in the market. Upon vesting, the Company may at its sole discretion choose to make a cash settlement instead of delivering ADSs. RSU Activity The following table specifies the number of RSUs granted, and outstanding RSUs at September 30, 2022: Total Outstanding at January 1, 2022 148,148 Granted during the period — Settled during the period — Transferred during the period — Forfeited during the period ( 21,741 ) Outstanding at September 30, 2022 126,407 Specified by vesting date December, 2022 42,131 December, 2023 42,132 December, 2024 42,144 Outstanding at September 30, 2022 126,407 The fair value of RSUs at the date of grant was € 123.46 for the year ended December 31, 2021, which was the first date of granting RSUs. Warrant program Warrants are granted by the Board of Directors in accordance with authorizations given to it by the shareholders of Ascendis Pharma A/S to all employees, members of the Board of Directors and select consultants (“warrantholders”). Each warrant carries the right to subscribe for one ordinary share of a nominal value of DKK 1 . The exercise price is fixed at the fair market value of the Company’s ordinary shares at the time of grant as determined by the Board of Directors. Vested warrants may be exercised in two or four annual exercise periods. Warrant Activity The following table specifies the warrant activity for the nine months ended September 30, 2022: Total Weighted Outstanding at January 1, 2022 7,085,073 80.30 Granted during the period 258,350 93.94 Exercised during the period ( 89,558 ) 20.40 Forfeited during the period ( 316,370 ) 124.01 Outstanding at September 30, 2022 6,937,495 79.58 Vested at September 30, 2022 4,652,454 60.69 The exercise prices of outstanding warrants under the Company’s warrant programs range from € 6.48 to € 145.50 depending on the grant dates.

Share Capital

Share Capital	9 Months Ended
	Sep. 30, 2022
Disclosure of classes of share capital [abstract]
Share Capital	Note 8—Share Capital The share capital of Ascendis Pharma A/S consists of 57,027,240 fully paid shares at a nominal value of DKK 1 , all in the same share class.

Treasury Shares

Treasury Shares	9 Months Ended
	Sep. 30, 2022
Disclosure of treasury shares [abstract]
Treasury Shares	Note 9—Treasury Shares The holding of treasury shares is specified below: Nominal Holding Holding in (EUR’000) (Number) Treasury shares At January 1, 2022 21 154,837 0.3 % Acquired from third-parties 134 1,000,000 — At September 30, 2022 155 1,154,837 2.0 %

Financial Assets and Financial

Financial Assets and Financial Liabilities	9 Months Ended
	Sep. 30, 2022
Disclosure of detailed information about financial instruments [abstract]
Financial Assets and Financial Liabilities	Note 10—Financial Assets and Financial Liabilities Financial assets and liabilities comprise the following: September 30, December 31, (EUR’000) Financial assets by category Trade receivables 6,655 2,200 Other receivables (excluding income tax and indirect tax receivables) 3,751 12,276 Marketable securities 326,818 343,358 Cash and cash equivalents 608,330 446,267 Financial assets measured at amortized cost 945,554 804,101 Total financial assets 945,554 804,101 Classified in the statement of financial position Non-current assets 17,232 109,369 Current assets 928,322 694,732 Total financial assets 945,554 804,101 September 30, December 31, (EUR’000) Financial liabilities by category Borrowings Convertible senior notes 434,353 — Lease liabilities 118,888 104,961 Trade payables and accrued expenses 86,102 59,417 Financial liabilities measured at amortized cost 639,343 164,378 Derivative liabilities 132,731 — Financial liabilities measured at fair value through profit or loss 132,731 — Total financial liabilities 772,074 164,378 Classified in the statement of financial position Non-current liabilities 665,876 97,966 Current liabilities 106,198 66,412 Total financial liabilities 772,074 164,378 Marketable Securities Marketable securities are measured at amortized cost, and fair values are determined based on quoted market prices. (Level 1 in the fair value hierarchy). The composition of the portfolio is specified in the following table: September 30, 2022 December 31, 2021 Carrying Fair value Carrying Fair value (EUR’000) Marketable securities U.S. Treasury bills 54,149 54,068 — — U.S. Government bonds 124,376 122,435 95,408 95,211 Commercial papers — — 2,207 2,207 Corporate bonds 134,960 133,196 226,771 226,379 Agency bonds 13,333 13,144 18,972 18,934 Total marketable securities 326,818 322,843 343,358 342,731 Classified based on maturity profiles Non-current assets 15,338 14,700 107,561 107,175 Current assets 311,480 308,143 235,797 235,556 Total marketable securities 326,818 322,843 343,358 342,731 Specified by rate structure Fixed rate 259,768 255,884 323,176 322,556 Floating rate 12,901 12,891 17,975 17,968 Zero-coupon 54,149 54,068 2,207 2,207 Total marketable securities 326,818 322,843 343,358 342,731 Specified by investment grade credit rating High grade 205,504 203,120 144,307 144,030 Upper medium grade 118,865 117,278 196,909 196,566 Lower medium grade 2,449 2,445 2,142 2,135 Total marketable securities 326,818 322,843 343,358 342,731 The Company’s portfolio of marketable securities is all denominated in U.S. Dollars. At September 30, 2022, the portfolio had a weighted average duration of 5.2 and 14.4 months for current and non-current positions, respectively, and 5.7 months for the entire portfolio. All marketable securities have investment grade ratings and accordingly, the risk from probability of default is low. The risk of expected credit loss over marketable securities has been considered, including the hypothetical impact arising from the probability of default which is considered in conjunction with the expected loss given default from securities with similar credit ratings and attributes. This assessment did not reveal a material expected credit loss and accordingly, no provision for expected credit loss has been recognized. Convertible Senior Notes In March 2022, the Company issued an aggregate principal amount of $ 575.0 million of fixed rate 2.25 % convertible notes. The net proceeds from the offering of the convertible notes were $ 557.9 million (€ 503.3 million), after deducting the initial purchasers’ discounts and commissions, and offering expenses. The convertible notes rank equally in right of payment with all future senior unsecured indebtedness. Unless earlier converted or redeemed, the convertible notes will mature on April 1, 2028 . The convertible notes accrue interest at a rate of 2.25 % per annum, payable semi-annually in arrears on April 1 and October 1 of each year, beginning on October 1, 2022 . At any time before the close of business on the second scheduled trading day immediately before the maturity date, noteholders may convert their convertible notes at their option into the Company’s ordinary shares represented by ADSs, together, if applicable, with cash in lieu of any fractional ADS, at the then-applicable conversion rate. The initial conversion rate is 6.0118 ADSs per $ 1,000 principal amount of convertible notes, which represents an initial conversion price of $ 166.34 per ADS. The conversion rate and conversion price will be subject to customary adjustments upon the occurrence of certain events. The convertible notes will be optionally redeemable, in whole or in part (subject to certain limitations), at the Company’s option at any time, and from time to time, on or after April 7, 2025 , but only if the last reported sale price per ADS exceeds 130 % of the conversion price on (i) each of at least 20 trading days, whether or not consecutive, during the 30 consecutive trading days ending on, and including, the trading day immediately before the date the Company sends the related optional redemption notice; and (ii) the trading day immediately before the date the Company sends such notice. On September 30, 2022, the carrying amount of the convertible notes was € 434.4 million, and the fair value was approximately € 411.2 million. Fair value cannot be measured based on quoted prices in active markets, or other observable input, and accordingly the fair value was estimated by using an estimated market rate for an equivalent non-convertible instrument (Level 3 in the fair value hierarchy). Derivative Liabilities Derivative liabilities relate to the foreign currency conversion option embedded in the convertible notes. Fair value cannot be measured based on quoted prices in active markets or other observable inputs, and accordingly, derivative liabilities are measured by using the Black-Scholes option pricing model (Level 3 in the fair value hierarchy). Fair value of the option is calculated, applying the following assumptions: (1) conversion price; (2) the Company’s share price; (3) maturity of the option; (4) a risk-free interest rate equaling the effective interest rate on a U.S. government bond with the same lifetime as the maturity of the option; (5) no payment of dividends; and (6) an expected volatility using the Company’s share price ( 49 % as of September 30, 2022). Sensitivity Analysis Derivative liabilities were recognized in March 2022, at the initial fair value of € 142.5 million. For the three and nine months ended September 30, 2022 , we recognized a remeasurement loss and gain, respectively of € 30.7 million and € 9.7 million. On September 30, 2022 , all other inputs and assumptions held constant, a 10 % increase in volatility, will increase the fair value of derivative liabilities by approximately € 15.5 million and indicates a decrease in profit or loss and equity before tax. Similarly, a 10 % decrease in volatility indicates the opposite impact. Similarly, on September 30, 2022 , all other inputs and assumptions held constant, a 10 % increase in the share price, will increase the fair value of derivative liabilities by approximately € 23.9 million and indicates a decrease in profit or loss and equity before tax. Similarly, a 10 % decrease in the share price indicates the opposite impact. Maturity Analysis Maturity analysis (on an undiscounted basis) for non-derivative financial liabilities recognized in the unaudited condensed consolidated statements of financial position at September 30, 2022, is specified below. < 1 year 1-5 years >5 years Total Carrying (EUR’000) September 30, 2022 Borrowings Convertible senior notes 13,272 53,088 603,137 669,497 434,353 Lease liabilities 13,605 58,249 69,280 141,134 118,888 Trade payables and accrued expenses 86,102 — — 86,102 86,102 Total financial liabilities 112,979 111,337 672,417 896,733 639,343

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2022
Disclosure of non-adjusting events after reporting period [abstract]
Subsequent Events	Note 11—Subsequent Events No events have occurred after the reporting date that would influence the evaluation of these unaudited condensed consolidated interim financial statements.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2022
Disclosure of voluntary change in accounting policy [abstract]
Basis of Preparation	Basis of Preparation The unaudited condensed consolidated interim financial statements of the Company are prepared in accordance with International Accounting Standard 34, “Interim Financial Reporting.” Certain information and disclosures normally included in the annual consolidated financial statements prepared in accordance with International Financial Reporting Standards (“IFRS”) have been condensed or omitted. Accordingly, these unaudited condensed consolidated interim financial statements should be read in conjunction with the Company’s audited annual consolidated financial statements for the year ended December 31, 2021, and accompanying notes, which have been prepared in accordance with IFRS as issued by the International Accounting Standards Board (the “IASB”) and as adopted by the European Union (the “EU”). The accounting policies applied are consistent with those of the previous financial year. A description of the accounting policies is provided in the Accounting Policies section of the audited consolidated financial statements as of and for the year ended December 31, 2021. In addition, the accounting policy for convertible senior notes and derivative liabilities, applied for the first time in this reporting period, is described below. The preparation of financial statements in conformity with IFRS requires the use of certain significant accounting estimates and requires management to exercise its judgement in the process of applying the Company’s accounting policies. The areas involving a higher degree of judgement or complexity, or areas where assumptions and estimates are significant to the unaudited condensed consolidated interim financial statements are disclosed in Note 3, “Significant Accounting Judgements and Estimates”.
Convertible Senior Notes and Derivative Liabilities	Convertible Senior Notes and Derivative Liabilities Convertible senior notes (“convertible notes”) are separated into a financial liability and an embedded derivative component based on the terms and conditions of the contract. The embedded derivative component is accounted for separately if this is not deemed closely related to the financial liability. The convertible notes include an embedded equity conversion option which is not deemed closely related to the financial liability and is therefore initially recognized and measured separately at fair value as a derivative liability based on the stated terms upon issuance of the convertible notes. The conversion option is classified as a foreign currency conversion option which is not convertible into a fixed number of shares for a fixed amount of cash. Accordingly, the conversion option is recognized and measured as a derivative liability at fair value through profit or loss, with any subsequent remeasurement gains or losses recognized as part of financial income or expenses. In addition, the convertible notes include a redemption option, which entitle the Company to redeem the notes at a cash amount equal to the principal amount of the convertible notes, plus accrued and unpaid interest. The redemption option is closely related to the financial liability, and therefore is not separately accounted for. The initial carrying amount of the financial liability component including the redemption option is the residual amount of the proceeds, net of allocated transaction costs, after separating the derivative component. Transaction costs are apportioned between the financial liability and derivative component based on the allocation of proceeds when the instrument is initially recognized. Transaction costs apportioned to the financial liability component form part of the effective interest and are amortized over the expected lifetime of the liability. Transaction costs allocated to the derivative component are expensed as incurred. The financial liability is subsequently measured at amortized cost until it is extinguished on conversion, optional redemption or upon repayment at maturity. The financial liability is presented as part of borrowings on the statement of financial position.
New International Financial Reporting Standards Not Yet Effective	New International Financial Reporting Standards Not Yet Effective The IASB has issued a number of new or amended standards, which have not yet become effective or have not yet been adopted by the EU. Therefore, these new standards have not been incorporated in these unaudited condensed consolidated interim financial statements. Amendments to IAS 1, “Classification of Liabilities as Current or Non-current” In January 2020, the IASB issued amendments to paragraphs 69 to 76 of IAS 1, “Presentation of Financial Statements”, to specify the requirements for classifying liabilities as current or non-current. The amendments clarify: • What is meant by a right to defer settlement; • That a right to defer must exist at the end of the reporting period; • That classification is unaffected by the likelihood that an entity will exercise its deferral right; and • That only if an embedded derivative in a convertible liability is itself an equity instrument would the terms of a liability not impact its classification. If approved by the EU, the amendments are effective for annual reporting periods beginning on or after January 1, 2024, and must be applied retrospectively. The amendments are expected to require the convertible notes (presented as part of borrowings on the statement of financial position) and derivative liabilities, both presented as non-current liabilities at September 30, 2022, to be presented as current liabilities. On September 30, 2022, the carrying amount of convertible notes and derivative liabilities were € 434.4 million and € 132.7 million, respectively. The consolidated financial statements are not expected to be affected by other new or amended standards.

Revenue (Tables)

Revenue (Tables)	9 Months Ended
	Sep. 30, 2022
Revenue [abstract]
Schedule of Revenue Recognized in Consolidated Statement of Profit or Loss	Three Months Ended Nine Months Ended 2022 2021 2022 2021 (EUR’000) (EUR’000) Revenue from external customers Commercial sale of products 12,252 — 18,575 — Rendering of services 2,401 203 3,385 599 Sale of clinical supply — 316 4,405 533 Licenses 637 594 1,913 1,749 Total revenue from external customers 15,290 1,113 28,278 2,881 Attributable to Commercial customers 12,252 — 18,575 — Collaboration partners and license agreements 3,038 1,113 9,703 2,881 Total revenue from external customers 15,290 1,113 28,278 2,881 Specified by timing of recognition Recognized over time 2,401 203 3,385 599 Recognized at a point in time 12,889 910 24,893 2,282 Total revenue from external customers 15,290 1,113 28,278 2,881 Revenue by geographical location Europe 151 — 426 — North America 12,889 702 24,424 2,076 China 2,250 411 3,428 805 Total revenue from external customers 15,290 1,113 28,278 2,881

Share-based Payment (Tables)

Share-based Payment (Tables)	9 Months Ended
	Sep. 30, 2022
Disclosure of terms and conditions of share-based payment arrangement [abstract]
Summary of Share Based Payment	The following table specifies the number of RSUs granted, and outstanding RSUs at September 30, 2022: Total Outstanding at January 1, 2022 148,148 Granted during the period — Settled during the period — Transferred during the period — Forfeited during the period ( 21,741 ) Outstanding at September 30, 2022 126,407 Specified by vesting date December, 2022 42,131 December, 2023 42,132 December, 2024 42,144 Outstanding at September 30, 2022 126,407
Summary of Warrant Activity	The following table specifies the warrant activity for the nine months ended September 30, 2022: Total Weighted Outstanding at January 1, 2022 7,085,073 80.30 Granted during the period 258,350 93.94 Exercised during the period ( 89,558 ) 20.40 Forfeited during the period ( 316,370 ) 124.01 Outstanding at September 30, 2022 6,937,495 79.58 Vested at September 30, 2022 4,652,454 60.69

Treasury Shares (Tables)

Treasury Shares (Tables)	9 Months Ended
	Sep. 30, 2022
Disclosure of treasury shares [abstract]
Summary of Holding of Treasury Shares	The holding of treasury shares is specified below: Nominal Holding Holding in (EUR’000) (Number) Treasury shares At January 1, 2022 21 154,837 0.3 % Acquired from third-parties 134 1,000,000 — At September 30, 2022 155 1,154,837 2.0 %

Financial Assets and Financia_2

Financial Assets and Financial Liabilities (Tables)	9 Months Ended
	Sep. 30, 2022
Disclosure of detailed information about financial instruments [abstract]
Schedule of Financial Assets and Liabilities	Financial assets and liabilities comprise the following: September 30, December 31, (EUR’000) Financial assets by category Trade receivables 6,655 2,200 Other receivables (excluding income tax and indirect tax receivables) 3,751 12,276 Marketable securities 326,818 343,358 Cash and cash equivalents 608,330 446,267 Financial assets measured at amortized cost 945,554 804,101 Total financial assets 945,554 804,101 Classified in the statement of financial position Non-current assets 17,232 109,369 Current assets 928,322 694,732 Total financial assets 945,554 804,101 September 30, December 31, (EUR’000) Financial liabilities by category Borrowings Convertible senior notes 434,353 — Lease liabilities 118,888 104,961 Trade payables and accrued expenses 86,102 59,417 Financial liabilities measured at amortized cost 639,343 164,378 Derivative liabilities 132,731 — Financial liabilities measured at fair value through profit or loss 132,731 — Total financial liabilities 772,074 164,378 Classified in the statement of financial position Non-current liabilities 665,876 97,966 Current liabilities 106,198 66,412 Total financial liabilities 772,074 164,378
Summary of Marketable securities	The composition of the portfolio is specified in the following table: September 30, 2022 December 31, 2021 Carrying Fair value Carrying Fair value (EUR’000) Marketable securities U.S. Treasury bills 54,149 54,068 — — U.S. Government bonds 124,376 122,435 95,408 95,211 Commercial papers — — 2,207 2,207 Corporate bonds 134,960 133,196 226,771 226,379 Agency bonds 13,333 13,144 18,972 18,934 Total marketable securities 326,818 322,843 343,358 342,731 Classified based on maturity profiles Non-current assets 15,338 14,700 107,561 107,175 Current assets 311,480 308,143 235,797 235,556 Total marketable securities 326,818 322,843 343,358 342,731 Specified by rate structure Fixed rate 259,768 255,884 323,176 322,556 Floating rate 12,901 12,891 17,975 17,968 Zero-coupon 54,149 54,068 2,207 2,207 Total marketable securities 326,818 322,843 343,358 342,731 Specified by investment grade credit rating High grade 205,504 203,120 144,307 144,030 Upper medium grade 118,865 117,278 196,909 196,566 Lower medium grade 2,449 2,445 2,142 2,135 Total marketable securities 326,818 322,843 343,358 342,731
Summary of Maturity Analysis For Financial Liabilities	Maturity analysis (on an undiscounted basis) for non-derivative financial liabilities recognized in the unaudited condensed consolidated statements of financial position at September 30, 2022, is specified below. < 1 year 1-5 years >5 years Total Carrying (EUR’000) September 30, 2022 Borrowings Convertible senior notes 13,272 53,088 603,137 669,497 434,353 Lease liabilities 13,605 58,249 69,280 141,134 118,888 Trade payables and accrued expenses 86,102 — — 86,102 86,102 Total financial liabilities 112,979 111,337 672,417 896,733 639,343

Summary of Significant Accoun_3

Summary of Significant Accounting Policies - Additional Information (Detail) - EUR (€) € in Thousands	Sep. 30, 2022	Dec. 31, 2021
Disclosure of summary of significant accounting policies [line items]
Convertible Senior Notes	€ 434,400
Derivative Liabilities	€ 132,731	€ 0

Significant Events in the Rep_2

Significant Events in the Reporting Period - Additional Information (Detail) € in Thousands				1 Months Ended		9 Months Ended		12 Months Ended
	Mar. 29, 2022 EUR (€)	Mar. 29, 2022 USD ($)	Feb. 28, 2022 EUR (€)	Mar. 31, 2022 EUR (€)	Mar. 31, 2022 USD ($)	Sep. 30, 2022 EUR (€)	Sep. 30, 2021 EUR (€)	Dec. 31, 2021 USD ($) shares	Sep. 30, 2022 USD ($)
Disclosure Of Summary Of Significant Accounting Policies [line items]
Payments to acquire or redeem entity's shares						€ 105,303	€ 0
Contract liabilities						16,100
Office Facility [Member] | GERMANY
Disclosure Of Summary Of Significant Accounting Policies [line items]
Enforceable Lease Term			15 years
Lease liabilities			€ 55,200
American depository shares [member]
Disclosure Of Summary Of Significant Accounting Policies [line items]
Treasury Stock Common Shares | shares								1,000,000
Convertible Senior Notes [Member]
Disclosure Of Summary Of Significant Accounting Policies [line items]
Principal amount | $		$ 575,000,000			$ 575,000,000
Proceeds from issue of bonds, notes and debentures	€ 503,300	$ 557,900,000		€ 503,300	$ 557,900,000
Convertible Senior Notes [Member] | American depository shares [member]
Disclosure Of Summary Of Significant Accounting Policies [line items]
Principal amount | $									$ 1,000
Payments to acquire or redeem entity's shares						€ 105,300		$ 116,700,000
Convertible Senior Notes [Member] | Fixed interest rate [member]
Disclosure Of Summary Of Significant Accounting Policies [line items]
Borrowings Interest Rate		2.25%			2.25%	2.25%			2.25%

Revenue - Additional Informatio

Revenue - Additional Information (Detail)	9 Months Ended
	Sep. 30, 2022
Disclosure of associates [line items]
Payment Term Of Customers	30 days

Revenue - Schedule of Revenue R

Revenue - Schedule of Revenue Recognized in Consolidated Statements of Profit or Loss (Detail) - EUR (€) € in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Revenue from external customers
Commercial sale of products	€ 12,252	€ 0	€ 18,575	€ 0
Rendering of services	2,401	203	3,385	599
Sale of clinical supply	0	316	4,405	533
"Right-to-use" licenses	637	594	1,913	1,749
Total revenue	15,290	1,113	28,278	2,881
Revenue from external customers (geographical)
Total revenue	15,290	1,113	28,278	2,881
Goods or services transferred over time [member]
Revenue from external customers
Total revenue	2,401	203	3,385	599
Revenue from external customers (geographical)
Total revenue	2,401	203	3,385	599
Goods or services transferred at point in time [member]
Revenue from external customers
Total revenue	12,889	910	24,893	2,282
Revenue from external customers (geographical)
Total revenue	12,889	910	24,893	2,282
Commercial customers [Member]
Revenue from external customers
Total revenue	12,252	0	18,575	0
Revenue from external customers (geographical)
Total revenue	12,252	0	18,575	0
Collaboration partners and license agreements [Member]
Revenue from external customers
Total revenue	3,038	1,113	9,703	2,881
Revenue from external customers (geographical)
Total revenue	3,038	1,113	9,703	2,881
Europe [Member]
Revenue from external customers
Total revenue	151	0	426	0
Revenue from external customers (geographical)
Total revenue	151	0	426	0
North America [member]
Revenue from external customers
Total revenue	(12,889)	702	24,424	2,076
Revenue from external customers (geographical)
Total revenue	(12,889)	702	24,424	2,076
China [member]
Revenue from external customers
Total revenue	2,250	411	3,428	805
Revenue from external customers (geographical)
Total revenue	€ 2,250	€ 411	€ 3,428	€ 805

Segment Information - Additiona

Segment Information - Additional Information (Detail)	9 Months Ended
	Sep. 30, 2022 Segment
Disclosure of operating segments [line items]
Number of reportable segment	1

Share-Based Payment - Additiona

Share-Based Payment - Additional Information (Details)	3 Months Ended		9 Months Ended
	Sep. 30, 2022 EUR (€) € / shares	Sep. 30, 2021 EUR (€)	Sep. 30, 2022 EUR (€) € / shares	Sep. 30, 2021 EUR (€)	Sep. 30, 2022 kr / shares
Disclosure of terms and conditions of share-based payment arrangement [line items]
Share Based Compensation Expense			€ 50,307,000	€ 52,684,000
Share nominal value | kr / shares					kr 1
Bottom of range [member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Exercise price of outstanding share options | € / shares	€ 6.48		€ 6.48
Top of range [member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Exercise price of outstanding share options | € / shares	€ 145.50		€ 145.50
Restricted Stock Units [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Fair Value of Other Equity Instruments Granted	€ 123.46		€ 123.46
Profit Loss [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Share Based Compensation Expense	€ 13,500,000	€ 13,300,000	€ 50,300,000	€ 52,700,000

Share-Based Payment - Summary O

Share-Based Payment - Summary Of Share Based Payment (Detail) - Restricted Stock Units [Member]	9 Months Ended
	Sep. 30, 2022
Sharebased Payment Arrangement, Restricted Stock Unit, Activity [Line Items]
Beginning balance	148,148
Granted	0
Settled during the period	0
Transferred during the period	0
Forfeited during the period	(21,741)
Ending balance	126,407
December 2022 [Member]
Sharebased Payment Arrangement, Restricted Stock Unit, Activity [Line Items]
Vested at the reporting date	42,131
December 2023 [Member]
Sharebased Payment Arrangement, Restricted Stock Unit, Activity [Line Items]
Vested at the reporting date	42,132
December 2024 [Member]
Sharebased Payment Arrangement, Restricted Stock Unit, Activity [Line Items]
Vested at the reporting date	42,144

Share-based Payment - Schedule

Share-based Payment - Schedule of Warrant Activity (Detail) - Warrants [member]	9 Months Ended
	Sep. 30, 2022 € / shares
Disclosure Of Warrant Activity [line items]
Beginning balance	7,085,073
Granted during the period	258,350
Exercised during the period	(89,558)
Forfeited during the period	(316,370)
Ending balance	6,937,495
Vested at the balance sheet date	4,652,454
Beginning balance	€ 80.30
Granted during the period	93.94
Exercised during the period	20.40
Forfeited during the period	124.01
Ending balance	79.58
Vested at the balance sheet date	€ 60.69

Share Capital - Additional Info

Share Capital - Additional Information (Detail)	Sep. 30, 2022 kr / shares shares
Disclosure of classes of share capital [abstract]
Number of shares issued | shares	57,027,240
Share nominal value | kr / shares	kr 1

Treasury Shares - Summary of Ho

Treasury Shares - Summary of Holding of Treasury Shares (Detail) € in Thousands	9 Months Ended
	Sep. 30, 2022 EUR (€) shares
Disclosure Of Holding Of Treasury Shares [Line Items]
At January 1, 2022 (Nominal values) | €	€ 21
Acquired from third-parties (Nominal values) | €	134
At September 30, 2022 (Nominal values) | €	€ 155
At January 1, 2022 (Holding) | shares	154,837
Acquired from third-parties (Holding) | shares	1,000,000
At September 30, 2022 (Holding) | shares	1,154,837
At January 1, 2022 (Holding in % of total outstanding shares)	0.30%
Acquired from third-parties (Holding in % of total outstanding shares)	0%
At September 30, 2022 (Holding in % of total outstanding shares)	2%

Financial Assets and Financia_3

Financial Assets and Financial Liabilities - Schedule of Financial assets and Liabilities (Detail) - EUR (€) € in Thousands	Sep. 30, 2022	Dec. 31, 2021	Sep. 30, 2021	Dec. 31, 2020
Financial assets by category
Cash and cash equivalents	€ 608,330	€ 446,267	€ 692,941	€ 584,517
Total financial assets	945,554	804,101
Classified in the statement of financial position
Non-current assets	17,232	109,369
Current assets	928,322	694,732
Total financial assets	945,554	804,101
Borrowings
Convertible senior notes	434,400
Derivative liabilities	132,731	0
Total financial liabilities	772,074	164,378
Classified in the statement of financial position
Non-current liabilities	665,876	97,966
Current liabilities	106,198	66,412
Total financial liabilities	772,074	164,378
Financial liabilities at amortised cost, class [member]
Borrowings
Convertible senior notes	434,353	0
Lease liabilities	118,888	104,961
Trade payables and accrued expenses	86,102	59,417
Financial liabilities measured at amortized cost	639,343	164,378
Total financial liabilities	639,343
Classified in the statement of financial position
Total financial liabilities	639,343
Financial liabilities at amortised cost, class [member] | Financial liabilities at fair value, class [member]
Borrowings
Financial liabilities measured at fair value through profit or loss	132,731	0
Financial assets at amortised cost, class [member]
Financial assets by category
Trade receivables	6,655	2,200
Other receivables	3,751	12,276
Marketable Securities	326,818	343,358
Cash and cash equivalents	608,330	446,267
Financial assets measured at amortized cost	€ 945,554	€ 804,101

Financial Assets and Financia_4

Financial Assets and Financial Liabilities - Additional Information (Detail) $ / shares in Units, € in Thousands			1 Months Ended		3 Months Ended	9 Months Ended
	Mar. 29, 2022 EUR (€)	Mar. 29, 2022 USD ($)	Mar. 31, 2022 EUR (€)	Mar. 31, 2022 USD ($)	Sep. 30, 2022 EUR (€)	Sep. 30, 2022 EUR (€) Days Agreement	Sep. 30, 2022 USD ($) $ / shares	Mar. 25, 2022 EUR (€)	Dec. 31, 2021 EUR (€)
Disclosure of detailed information about financial instruments [line items]
Derivative liabilities					€ 132,731	€ 132,731			€ 0
Gains (losses) on change in fair value of derivatives					(30,700)	9,700
Convertible Senior Notes					434,400	434,400
Fair Value of Convertible Notes					€ 411,200	€ 411,200
Share price | $ / shares							$ (49)
Historical volatility for shares, measurement input [member] | Derivatives [member]
Disclosure of detailed information about financial instruments [line items]
Percentage of reasonably possible increase in unobservable input, liabilities					10%	10%	10%
Percentage of reasonably possible decrease in unobservable input, liabilities					10%	10%	10%
Share Price Measurement Input [Member] | Derivatives [member]
Disclosure of detailed information about financial instruments [line items]
Increase decrease in derivative financial liabilities fair value						€ 23,900
Percentage of reasonably possible increase in unobservable input, liabilities					10%	10%	10%
Percentage of reasonably possible decrease in unobservable input, liabilities					10%	10%	10%
Foreign Currency Conversion Option [Member]
Disclosure of detailed information about financial instruments [line items]
Derivative liabilities								€ 142,500
Increase decrease in derivative financial liabilities fair value						€ 15,500
American depository shares [member]
Disclosure of detailed information about financial instruments [line items]
Conversion price per share | $ / shares							$ 166.34
Convertible Senior Notes [Member]
Disclosure of detailed information about financial instruments [line items]
Borrowings in arrears default payment start date						Oct. 01, 2022
Conversion rate per note | $ / shares							$ 6.0118
Principal amount | $		$ 575,000,000		$ 575,000,000
Borrowings redemption period						April 7, 2025
Borrowings condition for redemption						but only if the last reported sale price per ADS exceeds 130% of the conversion price on (i) each of at least 20 trading days, whether or not consecutive, during the 30 consecutive trading days ending on, and including, the trading day immediately before the date the Company sends the related optional redemption notice; and (ii) the trading day immediately before the date the Company sends such notice.
Borrowings threshold percentage of sale price per share for redemption						130%
Borrowings threshold trading days for redemption | Days						20
Borrowings threshold consecutive trading days for redemption | Agreement						30
Proceeds from issue of bonds, notes and debentures	€ 503,300	$ 557,900,000	€ 503,300	$ 557,900,000
Borrowings, maturity	April 1, 2028	April 1, 2028
Convertible Senior Notes [Member] | American depository shares [member]
Disclosure of detailed information about financial instruments [line items]
Principal amount | $							$ 1,000
Fixed interest rate [member] | Convertible Senior Notes [Member]
Disclosure of detailed information about financial instruments [line items]
Borrowings Interest Rate		2.25%		2.25%	2.25%	2.25%	2.25%
Liquidity risk [member]
Disclosure of detailed information about financial instruments [line items]
Weighted Average Duration Of Marketable Securities Current						5 months 6 days
Weighted Average Duration Of Marketable Securities Noncurrent						14 months 12 days
Weighted Average Duration Of Marketable Securities						5 months 21 days

Financial Assets and Financia_5

Financial Assets and Financial Liabilities - Summary of Marketable securities (Detail) - EUR (€) € in Thousands	Sep. 30, 2022	Dec. 31, 2021
Disclosure Detailed Information About Marketable Securities [Line Items]
Non-current financial marketable securities	€ 15,338	€ 107,561
Current financial marketable securities	311,480	235,797
Financial assets	945,554	804,101
Financial assets at amortised cost, class [member]
Disclosure Detailed Information About Marketable Securities [Line Items]
Financial marketable securities	326,818	343,358
Non-current financial marketable securities	15,338	107,561
Current financial marketable securities	311,480	235,797
Financial assets	326,818	343,358
Financial assets at amortised cost, class [member] | High Grade [Member]
Disclosure Detailed Information About Marketable Securities [Line Items]
Financial assets	205,504	144,307
Financial assets at amortised cost, class [member] | Upper Medium Grade [Member]
Disclosure Detailed Information About Marketable Securities [Line Items]
Financial assets	118,865	196,909
Financial assets at amortised cost, class [member] | Lower Medium Grade [Member]
Disclosure Detailed Information About Marketable Securities [Line Items]
Financial assets	2,449	2,142
Financial assets at amortised cost, class [member] | Fixed interest rate [Member]
Disclosure Detailed Information About Marketable Securities [Line Items]
Financial assets	259,768	323,176
Financial assets at amortised cost, class [member] | Floating interest rate [Member]
Disclosure Detailed Information About Marketable Securities [Line Items]
Financial assets	12,901	17,975
Financial assets at amortised cost, class [member] | Zero Coupon [Member]
Disclosure Detailed Information About Marketable Securities [Line Items]
Financial assets	54,149	2,207
Financial assets at amortised cost, class [member] | US Treasury bills [Member]
Disclosure Detailed Information About Marketable Securities [Line Items]
Financial marketable securities	54,149
Financial assets at amortised cost, class [member] | US Government Bonds [Member]
Disclosure Detailed Information About Marketable Securities [Line Items]
Financial marketable securities	124,376	95,408
Financial assets at amortised cost, class [member] | Commercial papers [Member]
Disclosure Detailed Information About Marketable Securities [Line Items]
Financial marketable securities	0	2,207
Financial assets at amortised cost, class [member] | Corporate bonds [Member]
Disclosure Detailed Information About Marketable Securities [Line Items]
Financial marketable securities	134,960	226,771
Financial assets at amortised cost, class [member] | Agency bonds [Member]
Disclosure Detailed Information About Marketable Securities [Line Items]
Financial marketable securities	13,333	18,972
Financial assets at fair value, class [member]
Disclosure Detailed Information About Marketable Securities [Line Items]
Financial marketable securities	322,843	342,731
Non-current financial marketable securities	14,700	107,175
Current financial marketable securities	308,143	235,556
Financial assets	322,843	342,731
Financial assets at fair value, class [member] | High Grade [Member]
Disclosure Detailed Information About Marketable Securities [Line Items]
Financial assets	203,120	144,030
Financial assets at fair value, class [member] | Upper Medium Grade [Member]
Disclosure Detailed Information About Marketable Securities [Line Items]
Financial assets	117,278	196,566
Financial assets at fair value, class [member] | Lower Medium Grade [Member]
Disclosure Detailed Information About Marketable Securities [Line Items]
Financial assets	2,445	2,135
Financial assets at fair value, class [member] | Fixed interest rate [Member]
Disclosure Detailed Information About Marketable Securities [Line Items]
Financial assets	255,884	322,556
Financial assets at fair value, class [member] | Floating interest rate [Member]
Disclosure Detailed Information About Marketable Securities [Line Items]
Financial assets	12,891	17,968
Financial assets at fair value, class [member] | Zero Coupon [Member]
Disclosure Detailed Information About Marketable Securities [Line Items]
Financial assets	54,068	2,207
Financial assets at fair value, class [member] | US Treasury bills [Member]
Disclosure Detailed Information About Marketable Securities [Line Items]
Financial marketable securities	54,068
Financial assets at fair value, class [member] | US Government Bonds [Member]
Disclosure Detailed Information About Marketable Securities [Line Items]
Financial marketable securities	122,435	95,211
Financial assets at fair value, class [member] | Commercial papers [Member]
Disclosure Detailed Information About Marketable Securities [Line Items]
Financial marketable securities	0	2,207
Financial assets at fair value, class [member] | Corporate bonds [Member]
Disclosure Detailed Information About Marketable Securities [Line Items]
Financial marketable securities	133,196	226,379
Financial assets at fair value, class [member] | Agency bonds [Member]
Disclosure Detailed Information About Marketable Securities [Line Items]
Financial marketable securities	€ 13,144	€ 18,934

Financial Assets and Financia_6

Financial Assets and Financial Liabilities - Liquidity Risk Management (Detail) - EUR (€) € in Thousands	Sep. 30, 2022	Dec. 31, 2021
Borrowings [abstract]
Convertible senior notes	€ 434,400
Total financial liabilities	772,074	€ 164,378
Convertible senior notes	669,497
Lease liabilities	141,134
Trade payables	86,102
Total financial liabilities	896,733
Financial liabilities at amortised cost, class [member]
Borrowings [abstract]
Convertible senior notes	434,353	0
Lease liabilities	118,888	€ 104,961
Trade payables	86,102
Total financial liabilities	639,343
Within 1 year [member]
Borrowings [abstract]
Convertible senior notes	13,272
Lease liabilities	13,605
Trade payables	86,102
Total financial liabilities	112,979
Within 1 to 5 years [member]
Borrowings [abstract]
Convertible senior notes	53,088
Lease liabilities	58,249
Trade payables	0
Total financial liabilities	111,337
After 5 years [member]
Borrowings [abstract]
Convertible senior notes	603,137
Lease liabilities	69,280
Trade payables	0
Total financial liabilities	€ 672,417