Cover Page
Cover Page | 6 Months Ended |
Jun. 30, 2021 | |
Cover [Abstract] | |
Document Type | 6-K |
Entity Registrant Name | ERYTECH Pharma S.A. |
Amendment Flag | false |
Document Period End Date | Jun. 30, 2021 |
Document Fiscal Year Focus | 2021 |
Document Fiscal Period Focus | Q2 |
Entity Central Index Key | 0001624422 |
Current Fiscal Year End Date | --12-31 |
Unaudited Interim Condensed Con
Unaudited Interim Condensed Consolidated Statement of Income (Loss) - EUR (€) € in Thousands | 6 Months Ended | |
Jun. 30, 2021 | Jun. 30, 2020 | |
Profit or loss [abstract] | ||
Revenues | € 0 | € 0 |
Other income | 2,270 | 1,849 |
Operating income | 2,270 | 1,849 |
Research and development | (23,209) | (28,846) |
General and administrative | (8,027) | (8,372) |
Operating expenses | (31,236) | (37,218) |
Operating loss | (28,966) | (35,369) |
Financial income | 2,807 | 672 |
Financial expenses | (1,791) | (265) |
Financial income (loss) | 1,016 | 407 |
Income tax | (2) | 0 |
Net loss | € (27,952) | € (34,962) |
Basic / Diluted loss per share (€/share) | € (1.22) | € (1.95) |
Unaudited Interim Condensed C_2
Unaudited Interim Condensed Consolidated Statement of Comprehensive Income (Loss) - EUR (€) € in Thousands | 6 Months Ended | |
Jun. 30, 2021 | Jun. 30, 2020 | |
Statement of comprehensive income [abstract] | ||
Net loss | € (27,952) | € (34,962) |
Elements that may be reclassified subsequently to income (loss) | ||
Currency translation adjustment | (153) | (16) |
Elements that may not be reclassified subsequently to income (loss) | ||
Remeasurement of defined benefit liabilities | 42 | 25 |
Tax effect | 0 | 0 |
Other comprehensive income (loss) | (111) | 9 |
Comprehensive income (loss) | € (28,063) | € (34,953) |
Unaudited Interim Condensed C_3
Unaudited Interim Condensed Consolidated Statement of Financial Position - EUR (€) € in Thousands | Jun. 30, 2021 | Dec. 31, 2020 |
Non-current assets | ||
Intangible assets | € 583 | € 589 |
Property, plant and equipment | 19,818 | 20,862 |
Right of use | 7,278 | 8,228 |
Other non-current assets | 1,091 | 1,091 |
Total non-current assets | 28,770 | 30,770 |
Current assets | ||
Other current financial assets | 516 | 59 |
Trade and other receivables | 14 | 4 |
Other current assets | 8,185 | 5,123 |
Cash and cash equivalents | 46,323 | 44,446 |
Total current assets | 55,038 | 49,632 |
TOTAL ASSETS | 83,808 | 80,402 |
Shareholders’ equity | ||
Share capital | 2,644 | 2,006 |
Premiums related to share capital | 86,209 | 120,705 |
Reserves | (26,130) | (24,616) |
Translation reserve | 1,591 | 1,744 |
Net loss for the period | (27,952) | (73,300) |
Total shareholders’ equity | 36,362 | 26,539 |
Non-current liabilities | ||
Provisions - non-current portion | 681 | 652 |
Financial liabilities – non-current portion | 14,452 | 14,379 |
Derivative liabilities - non current portion | 69 | 288 |
Lease liabilities - non-current portion | 8,815 | 9,197 |
Total Non-current liabilities | 24,017 | 24,516 |
Current liabilities | ||
Financial liabilities – current portion | 229 | 2,265 |
Derivative liabilities - current portion | 3 | 129 |
Lease liabilities - current portion | 1,732 | 1,607 |
Trade and other payables | 17,639 | 20,910 |
Other current liabilities | 3,826 | 4,436 |
Total current liabilities | 23,429 | 29,347 |
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY | € 83,808 | € 80,402 |
Unaudited Interim Condensed C_4
Unaudited Interim Condensed Consolidated Statement of Cash Flow - EUR (€) € in Thousands | 6 Months Ended | |
Jun. 30, 2021 | Jun. 30, 2020 | |
Cash flows from operating activities | ||
Net loss | € (27,952) | € (34,962) |
Reconciliation of net loss and the cash used for operating activities | ||
Gain or loss on exchange | (1,436) | (463) |
Amortization and depreciation | 2,494 | 2,509 |
Provision | 71 | (7) |
Change in fair value of derivative liabilities | (750) | 0 |
Expenses related to share-based payments | 707 | 384 |
Gain or loss on disposal | 0 | (8) |
Interest expense (income) | 1,182 | 228 |
Income tax expense (income) | 2 | 0 |
Operating cash flow before change in working capital | (25,682) | (32,319) |
(Increase) decrease in inventories | 0 | (28) |
(Increase) decrease in trade and other receivables | (10) | 35 |
(Increase) decrease in other current assets | (2,686) | (162) |
Increase (decrease) in trade and other payables | (3,639) | 3,041 |
Increase (decrease) in other current liabilities | (594) | 184 |
Change in working capital | (6,929) | 3,070 |
Income tax paid | (2) | 0 |
Net cash flow used in operating activities | (32,613) | (29,249) |
Cash flows from investing activities | ||
Acquisition of property, plant and equipment | (146) | (874) |
Acquisition of intangible assets | 0 | (82) |
Increase in non-current & current financial assets | (130) | (262) |
Disposal of property, plant and equipment | 0 | 86 |
Decrease in non-current & current financial assets | 2 | 0 |
Net cash flow used in investing activities | (274) | (1,132) |
Cash flows from financing activities | ||
Capital increases, net of transaction costs | 29,320 | 118 |
Subscription of warrants | 0 | 12 |
Proceeds from borrowings, net of transaction costs | 5,712 | 2,979 |
Repayment of borrowings | 0 | (62) |
Allowance received from a lessor | 0 | 194 |
Repayment of lease liability (IFRS 16) | (830) | (810) |
Interests received (paid) | (146) | (175) |
Net cash flow from (used in) financing activities | 34,056 | 2,256 |
Exchange rate effect on cash in foreign currency | 708 | 385 |
Increase (Decrease) in cash and cash equivalents | 1,877 | (27,740) |
Net cash and cash equivalents at the beginning of the period | 44,446 | 73,173 |
Net cash and cash equivalents at the closing of the period | € 46,323 | € 45,433 |
Unaudited Interim Condensed C_5
Unaudited Interim Condensed Consolidated Statement of Changes in Shareholders' Equity - EUR (€) € in Thousands | Total | Share capital | Premiums related to the share capital | Reserves | Translation reserve | Net (income) loss | |
Beginning balance at Dec. 31, 2019 | € 85,560 | € 1,794 | € 281,688 | € (136,607) | € 1,344 | € (62,659) | |
Net loss for the period | (34,962) | (34,962) | |||||
Other comprehensive income | 9 | 25 | (16) | ||||
Comprehensive income (loss) | (34,953) | 0 | 0 | 25 | (16) | (34,962) | |
Allocation of prior period loss | 0 | (54,208) | (8,451) | 62,659 | |||
Allocation of reserves on premiums | 0 | (119,282) | 119,282 | ||||
Issue of ordinary shares | 119 | 2 | 117 | ||||
Share-based payment | 384 | 384 | |||||
Ending balance at Jun. 30, 2020 | 51,110 | 1,796 | 108,315 | (25,367) | 1,328 | (34,962) | |
Beginning balance at Dec. 31, 2020 | 26,539 | 2,006 | 120,705 | (24,616) | 1,744 | (73,300) | |
Net loss for the period | (27,952) | (27,952) | |||||
Other comprehensive income | (111) | 42 | (153) | ||||
Comprehensive income (loss) | (28,063) | 0 | 0 | 42 | (153) | (27,952) | |
Allocation of prior period loss | 0 | (71,037) | (2,263) | 73,300 | |||
Issue of ordinary shares | [1] | 39,834 | 638 | 39,196 | |||
Transaction costs | [2] | (2,655) | (2,655) | ||||
Share-based payment | 707 | 707 | |||||
Ending balance at Jun. 30, 2021 | € 36,362 | € 2,644 | € 86,209 | € (26,130) | € 1,591 | € (27,952) | |
[1] | Includes €24,869 thousand related to the Registered Offering, €6,616 thousand to shares sold under the at-the-market (“ATM”) program (refer to note 4.5) and €8,350 thousand linked to the conversion of convertible notes (refer to note 4.6.1). | ||||||
[2] | Includes €2,414 thousand related to the Registered Offering and €241 thousand to shares sold under the at-the-market (“ATM”) program. |
Unaudited Interim Condensed C_6
Unaudited Interim Condensed Consolidated Statement of Changes in Shareholders' Equity (Parenthetical) € in Thousands, $ in Millions | 6 Months Ended | |
Jun. 30, 2021EUR (€) | ||
Issue of ordinary shares | € 39,834 | [1] |
Conversion of convertible notes | 8,350 | |
Share issue related cost | 2,655 | [2] |
Registered Offering | ||
Issue of ordinary shares | 24,869 | |
Share issue related cost | 2,414 | |
At-The-Market Offering | ||
Issue of ordinary shares | 6,616 | |
Share issue related cost | € 241 | |
[1] | Includes €24,869 thousand related to the Registered Offering, €6,616 thousand to shares sold under the at-the-market (“ATM”) program (refer to note 4.5) and €8,350 thousand linked to the conversion of convertible notes (refer to note 4.6.1). | |
[2] | Includes €2,414 thousand related to the Registered Offering and €241 thousand to shares sold under the at-the-market (“ATM”) program. |
Description of the Business
Description of the Business | 6 Months Ended |
Jun. 30, 2021 | |
Disclosure Of Description Of The Business [Abstract] | |
Description of the business | DESCRIPTION OF THE BUSINESS ERYTECH Pharma S.A. (“ ERYTECH ” and together with its subsidiary the “ Company ”) is incorporated in Lyon, France, and was founded in 2004 to develop and market innovative red blood cell-based therapeutics for cancer and orphan diseases. The Company’s most advanced product candidates is being developed for the treatment of pancreatic cancer. The Company completed its initial public offering on Euronext Paris in May 2013, raising €17.7 million, and on the Nasdaq Global Select Market in November 2017, raising €124.0 million ($144.0 million) on a gross basis before deducting offering expenses. The Company has incurred losses and negative cash flows from operations since its inception and had shareholders’ equity of €36,362 thousand as of June 30, 2021 as a result of several financing rounds, including an initial public offering. The Company anticipates incurring additional losses until such time, if ever, that it can generate significant revenue from its product candidates in development. The COVID-19 pandemic and the measures decided by the governments of the countries in which the Company operates have resulted in a delay of 3 to 4 months in patient enrollment in the TRYbeCA-1 trial and thus in the interim analysis. The end of recruitment and interim analysis occurred in January 2021 and February 2021, respectively. Substantial additional financing will be needed by the Company to fund its operations and to commercially develop its product candidates. The situation on the financial markets and the delay in the TRYbeCA-1 trial due to the COVID-19 pandemic may impair the ability of the Company to raise capital when needed or on attractive terms in the future. The Company’s future operations are highly dependent on a combination of factors, including: (i) the success of its research and development (in particular the results of the TRYbeCA1 trial expected in the fourth quarter of 2021) ; (ii) regulatory approval and market acceptance of the Company’s proposed future products; (iii) the timely and successful completion of additional financing; and (iv) the development of competitive therapies by other biotechnology and pharmaceutical companies. As a result, the Company is and should continue, in the short to mid-term, to be financed through partnership agreements for the development and commercialization of its drug candidates and through the issuance of new debt or equity instruments. The accompanying unaudited interim condensed consolidated financial statements and related notes (the “ Unaudited Interim Condensed Consolidated Financial Statements ”) present the operations of ERYTECH Pharma S.A. and its subsidiary, ERYTECH Pharma, Inc. Major events of the first half of 2021 Business January 2021: • The Company announced the first patient enrolled in a Phase 1 investigator sponsored trial (IST), named rESPECT, of eryaspase for the first-line treatment of pancreatic cancer. The rESPECT Phase 1 IST will be conducted by Dr Marcus Noel (Associate Professor of Medicine at Georgetown University, Washington DC, USA). The trial will enroll patients who have received no prior chemotherapy for the treatment of locally advanced or metastatic pancreatic cancer. February 2021: • The Company announced that TRYbeCA-1, a Phase 3 clinical trial evaluating eryaspase in second-line pancreatic cancer, will continue without modification following a planned interim superiority analysis conducted by an Independent Data Monitoring Committee (IDMC). April 2021: • The Company announced the completion of enrollment of the first treatment cohort and the escalation to the next and potentially final dose level in the rESPECT Phase 1 IST. • The Company announced the initiation of the process of seeking marketing approval from the U.S. Food and Drug Administration for its lead product candidate eryaspase in patients with acute lymphoblastic leukemia (ALL) who developed hypersensitivity reactions to PEG-asparaginase based on the positive results of the NOPHO-sponsored Phase 2 clinical trial. Financing February 2021: • The Company sold 744,186 shares under the at-the-market (“ATM”) program, for gross proceeds of approximately €6.6 million ($8.0 million). March 2021: • As part of t he convertible notes’ agreement signed in June 2020, the Company issued a tranche of €3.0 million (60 OCABSA) on Mar ch 2, 2021. April 2021: • The Company announced a $30.0 million Registered Direct Offering. The Company entered into definitive agreements with several health-care focused institutional and accredited investors for the purchase and sale of 1,034,483 units (“Units”), each Unit consisting of four ordinary shares in the form of American Depositary Shares (each an “ADS”) and three warrants, each to purchase one ordinary share (each a “Warrant”), in a Registered Direct Offering. The subscription price for one Unit is $29.00 (€24.03), corresponding to $7.25 (€6.01) per ADS and associated 0.75 warrant. Each ADS represents the right to receive one ordinary share, €0.10 nominal value, of the Company. The Warrants have an exercise price of €7.50 ($9.05) per share, will be immediately exercisable upon issuance and will expire two years from the issuance date. The closing of the offering occurred on May 4, 2021. May 2021: • As part of t he convertible notes’ agreement signed in June 2020, the Company issued a tranche of €3.0 million (60 OCABSA) on May 19 , 2021. |
Accounting Rules and Methods
Accounting Rules and Methods | 6 Months Ended |
Jun. 30, 2021 | |
Disclosure Of Accounting Rules And Methods [Abstract] | |
Accounting Rules and Methods | ACCOUNTING RULES AND METHODSBasis of preparation The Interim Condensed Consolidated Financial Statements have been prepared in accordance with the underlying assumptions of going concern as the Company’s loss-making situation is explained by the innovative nature of the products developed, therefore involving a multi-year research and development phase. The Company has historically financed its growth by strengthening its equity in the form of capital increases and issuance of convertible bonds. At the approval date of the Unaudited Interim Condensed Consolidated Financial Statements, the Board of Directors believes that the Company will be able to fund its oper ations into the third quarter 2022, consideri ng: • Cash and cash equivalents held by the Company amounted to €46.3 million as of June 30, 2021. They are composed of cash and term deposits readily available without penalty; • The issuance of two tranches of convertibles notes of €3.0 million each in July 2021 and August 2021, as part of the financing agreement signed with Luxembourg-based European High Growth Opportunities Securitization Fund; • The possibility to use the OCABSA agreement allowing a potential fundraising up to a maximum of €33.0 million until June 2022, subject to the regulatory limit of 20% dilution and to authorizations of the general meeting, representing approximately €15.0 million based on the closing market price the day before the approval date of the Unaudited Interim Condensed Consolidated Financial Statements (€5.04). Considering the above factors and assumptions, the Company believes that it is able to fund its operations during the 12 months after the closing date. From this date, the Company will have to find additional funding. Various financing sources are considered among the issuance of new debt or equity instruments and partnership agreements. The Condensed Consolidated Financial Statements have been prepared in accordance with International Financial Reporting Standards (“ IFRS ”) as issued by the International Accounting Standard Board (“ IASB ”) and were approved and authorized for issuance by the Board of Directors of the Company on September 16, 2021. Due to the listing of ordinary shares of the Company on Euronext Paris and in accordance with the European Union’s regulation No. 1606/2002 of July 19, 2002, the Unaudited Interim Condensed Consolidated Financial Statements of the Company are also prepared in accordance with IAS 34, Interim financial reporting , as adopted by the European Union (EU). As of June 30, 2021, all IFRS that the IASB had published and that are mandatory are the same as those adopted by the EU and mandatory in the EU. As a result, the Unaudited Interim Condensed Consolidated Financial Statements comply with International Financial Reporting Standards as published by the IASB and as adopted by the EU. As condensed financial statements, they do not include all information that would be required by the full IFRS standards. They must be read in conjunction with the consolidated financial statements for the year ended December 31, 2020. Except for the standards applicable as of January 1, 2021 described below, the standards applied in the preparation of the Condensed Consolidated Financial Statements are the same as those applied to prepare the financial statements as of December 31, 2020. The Company adopted the following standards, amendments and interpretations that are mandatory as of January 1, 2021: • Amendments to IFRS 9, IAS 39, IFRS 7, IFRS 4 and IFRS 16 - Interest Rate Benchmark Reform – Phase 2 ; and • Amendment to IFRS 16 - Leases Covid 19-Related Rent Concessions These new texts did not have any significant impact on the Company’s results or financial position. The standards and interpretations that are optionally applicable to the Company as of June 30, 2021 were not applied in advance. Recently issued accounting pronouncements that may be relevant to the Company’s operations are as follows: • Amendments to IAS 1 - Classification of liabilities as current or non-current ; • Amendments to IAS 16 - Property, Plant and Equipment - Proceeds before intended use ; • Amendments to IAS 37 - Onerous contracts - cost of fulfilling a contrac t ; • Amendments to IAS 1 - Disclosure of Accounting policies ; • Amendments to IAS 8 - Definition of Accounting Estimates ; • Amendments to IFRS 16 - Leases Covid-19-Related Rent Concessions beyond 30 June 2021 ; • Amendments to IAS 12 - Deferred Tax related to Assets and Liabilities arising from a Single Transaction ; • Annual Improvements 2018-2020. Details of the Company’s subsidiary as of June 30, 2021 are as follows: Date of incorporation Percent of ownership interest Accounting method ERYTECH Pharma, Inc. April 2014 100% Consolidated There was no change in the scope of consolidation during the period. Functional Currency and Translation of Financial Statements into Presentation Currency The Unaudited Interim Condensed Consolidated Financial Statements are presented in euros, which is also the functional currency of the parent company, ERYTECH Pharma S.A. The exchange rates used for the translation of the financial statements of ERYTECH Pharma, Inc. are as follows: Exchange rate (USD per EUR) 06/30/2020 12/31/2020 06/30/2021 Weighted average rate 1.1015 1.1413 1.2057 Closing rate 1.1198 1.2271 1.1884 In accordance with IFRS 8 “ Operating Segments ”, reporting by operating segment is derived from the internal organization of the Company’s activities; it reflects management’s viewpoint and is established based on internal reporting used by the chief operating decision maker (the Chief Executive Officer) to allocate resources and to assess performance. Information per operating segment The Company operates in a single operating segment: the conducting of research and development of innovative red blood cell-based therapeutics for cancer and orphan diseases in order to market them in the future. Information per geographical segment Revenues from external customers (amounts in thousands of euros) 06/30/2020 06/30/2021 (6 months) (6 months) France 61 — United States 99 97 Total 160 97 July 2021: • The Company announced its intention to move forward towards the submission of a BLA to the US Food and Drug Administration (FDA) for eryaspase in hypersensitive acute lymphoblastic leukemia (ALL) patients following feedback from the agency in a pre-BLA meeting. • The U.S. Food and Drug Administration (FDA) granted eryaspase Fast Track designation for the treatment of acute lymphocytic leukemia (ALL) patients who have developed hypersensitivity reactions to E. coli-derived pegylated asparaginase (PEG-ASNase). July / August 2021: • As part of t he convertible notes’ agreement signed in June 2020, the Company issued two tranches of €3.0 million (60 OCABSA) each on July 22 , 2021 and August 24, 2021, respectively. |
Notes Related to the Unaudited
Notes Related to the Unaudited Interim Condensed Consolidated Statement of Income (Loss) | 6 Months Ended |
Jun. 30, 2021 | |
Disclosure Of Detailed Information Of Operating Income Loss [Abstract] | |
Notes related to the unaudited interim condensed consolidated statement of income (loss) | 100% all the shares granted are acquired • If 0% |
Notes Related to the Unaudite_2
Notes Related to the Unaudited Interim Condensed Consolidated Statement of Financial Position | 6 Months Ended | |
Jun. 30, 2022 | Jun. 30, 2021 | |
Disclosure Of Detailed Information Of Financial Position [Abstract] | ||
Notes related to the unaudited interim condensed consolidated statement of financial position | Financial liabilities (amounts in thousands of euros) Convertible notes Conditional advances Bank loans Other Total As of December 31, 2020 2,169 4,421 10,019 35 16,644 Collection 5,712 — — — 5,712 Fair value of embedded derivatives (404) — — — (404) Amortized cost 919 66 92 — 1,077 Conversion (8,350) — — — (8,350) Repayment — — — — — FX rate impact — — — 2 2 As of June 30, 2021 46 4,487 10,111 37 14,681 Financial liabilities by maturity June 30, 2021 (in thousands of euros) Less than one year One to three years Three to five years More than five years Total Convertible notes 46 — — — 46 Conditional advances — — — 4,487 4,487 Bank loans 182 3,526 5,099 1,304 10,111 Other — 37 — — 37 Total financial liabilities 228 3,563 5,099 5,791 14,681 (in thousands of euros) Lease liabilities As of December 31, 2020 10,804 Increase without cash impact 379 Repayment (830) Decrease without cash impact — FX rate impact 194 Capitalized interests — As of June 30, 2021 10,547 Lease liabilities by maturity Less than one year One to three years Three to five years More than five years Total As of June 30, 2021 1,732 2,965 2,276 3,574 10,547 (amounts in thousands of euros) 12/31/2020 06/30/2021 Vendors 4,706 3,352 Vendors - accruals 16,204 14,287 Total trade and other payables 20,910 17,639 Social liabilities, taxation and social security 4,149 3,604 Fixed assets payables 86 33 Deferred revenue 148 120 Other payables 53 69 Total other current liabilities 4,436 3,826 Hospital costs accruals amounted to €10,770 thousand as of December 31, 2020 and €10,557 thousand as of June 30, 2021. As of December 31, 2020 Carrying amount on the statement of financial position (1) Fair value through profit and loss Fair value through other comprehensive income Financial assets at amortized cost Financial liabilities at amortized cost Fair value Other non-current assets 1,091 1,091 1,091 Other current financial assets 59 59 59 Trade and other receivables 4 4 4 Other current assets 4,330 4,330 4,330 Cash and cash equivalents (2) 44,446 44,446 44,446 Total financial assets 49,930 44,446 — 5,484 — 49,930 Financial liabilities - non current portion (3) 14,379 14,379 14,379 Derivative liabilities - non current portion (5) 288 288 288 Lease liabilities - non current portion (4) 9,197 9,197 9,197 Financial liabilities - current portion (3) 2,265 2,265 2,265 Derivative liabilities - current portion (5) 129 129 129 Lease liabilities - current portion (4) 1,607 1,607 1,607 Trade and other payables 20,910 20,910 20,910 Other current liabilities 4,288 4,288 4,288 Total financial liabilities 53,063 417 — — 52,646 53,063 As of June 30, 2021 Carrying amount on the statement of financial position (1) Fair value through profit and loss Fair value through other comprehensive income Financial assets at amortized cost Financial liabilities at amortized cost Fair value Other non-current assets 1,091 1,091 1,091 Other current financial assets 516 516 516 Trade and other receivables 14 14 14 Other current assets 6,669 6,669 6,669 Cash and cash equivalents (2) 46,323 46,323 46,323 Total financial assets 54,613 46,323 — 8,290 — 54,613 Financial liabilities - non current portion (3) 14,452 14,452 14,452 Derivative liabilities - non current portion (5) 69 69 69 Lease liabilities - non current portion (4) 8,815 8,815 8,815 Financial liabilities - current portion (3) 229 229 229 Derivative liabilities - current portion (5) 3 3 3 Lease liabilities - current portion (4) 1,732 1,732 1,732 Trade and other payables 17,639 17,639 17,639 Other current liabilities 3,706 3,706 3,706 Total financial liabilities 46,645 72 — — 46,573 46,645 (1) The carrying amount of these assets and liabilities is a reasonable approximation of their fair value. (2) Cash and cash equivalents are comprised of cash in bank and term deposit accounts, which are measured using level 1 measurements. (3) The fair value of financial liabilities is determined using level 2 measurements. (4) The fair value of lease liabilities is determined using level 2 measurements. (5) The fair value of derivative liabilities is determined using level 3 measurements. | NOTES RELATED TO THE UNAUDITED INTERIM CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITIONProperty, plant and equipment (amounts in thousands of euros) General equipment, fixtures and fittings Plant, equipment and tooling Office equipment and computers Assets under construction Advance payment TOTAL GROSS VALUE As of December 31, 2020 20,701 5,787 1,204 77 — 27,769 Increase 25 — 16 42 11 94 Decrease — — (9) — — (9) FX rate impact 580 91 13 — — 684 Reclassification — — 64 (53) 11 22 As of June 30, 2021 21,306 5,878 1,288 66 22 28,560 ACCUMULATED DEPRECIATION As of December 31, 2020 (4,127) (2,092) (688) — — (6,907) Increase (1,066) (535) (110) — — (1,711) Decrease — — 9 — — 9 FX rate impact (102) (25) (6) — — (133) Reclassification — — — — — — As of June 30, 2021 (5,295) (2,652) (795) — — (8,742) NET VALUE As of December 31, 2020 16,574 3,695 516 77 — 20,862 As of June 30, 2021 16,011 3,226 493 66 22 19,818 (amounts in thousands of euros) Buildings Plant, equipment and tooling Transport equipment Office equipment and computers TOTAL GROSS VALUE As of December 31, 2020 10,846 954 73 118 11,991 Increase — 376 3 — 379 Decrease (1,715) — — — (1,715) FX rate impact 145 5 — — 150 Reclassification — — — — — As of June 30, 2021 9,276 1,335 76 118 10,805 ACCUMULATED DEPRECIATION As of December 31, 2020 (2,649) (954) (42) (118) (3,763) Increase (726) (37) (12) — (775) Decrease 1,050 — — — 1,050 FX rate impact (38) (1) — — (39) Reclassification — — — — — As of June 30, 2021 (2,363) (992) (54) (118) (3,527) NET VALUE As of December 31, 2020 8,197 — 31 — 8,228 As of June 30, 2021 6,913 343 22 — 7,278 The decrease is linked to the sublease of our premises in Cambridge, United States. (amounts in thousands of euros) 12/31/2020 06/30/2021 Trade and other receivables 4 14 Total trade and other receivables 4 14 Research Tax Credit 3,432 5,564 Other receivables (including tax and social receivables) 898 660 Net investment in a sublease — 446 Prepaid expenses 793 1,515 Total other current assets 5,123 8,185 Research Tax Credit (Crédit d’Impôt Recherche or “CIR”) As of June 30, 2021, the CIR receivable included the Research Tax Credit for the 2020 financial year and the CIR estimate for the first half of 2021. Prepaid expenses Prepaid expenses mainly related to advance payments for directors and officers' insurance ( €1,026 thousand ). (amounts in thousands of euros) 12/31/2020 06/30/2021 Current account 34,348 41,221 Term deposits 10,098 5,102 Total cash and cash equivalents as reported in statement of financial position 44,446 46,323 Bank overdrafts — — Total cash and cash equivalents as reported in statement of cash flow 44,446 46,323 As of December 31, 2020, term deposits included a term deposit of €10.0 million with a maturity of one month and deposits of €0.1 million convertible into cash immediately. As of June 30, 2021, term deposits included a term deposit of €5.0 million with a maturity of one month and deposits of €0.1 million convertible into cash immediately. As of June 30, 2021, the capital of the Company consisted of 26,438,955 shares, fully paid up, with a nominal value of 0.10 euro. Number of shares As of December 31, 2020 20,057,562 Shares issued as part of the Registered Offering 4,137,932 Shares sold under the at-the-market (“ATM”) program 744,186 Conversion of convertible notes ("OCA") 1,493,320 Free shares acquired 5,955 As of June 30, 2021 26,438,955 In February 2021, t he Company sold 744,186 shares under the at-the-market (“ATM”) program, for gross proceeds of €6.6 million (net proceeds of approximately €6.4 million). In April 2021, the Company issued 4,137,932 shares as part of the Registered Offering, for gross proceeds of €24.9 million (net proceeds of approximately €22.5 million). During the first half of 2021, t he transaction costs amounted to €2.7 million (of which €2.4 million related to the Registered Offering and €0.2 million to shares sold under the at-the-market (“ATM”) program) and relates to bank fees, legal counsels, advisors and auditors’ fees. The Company issued 2 tranches of €3.0 million each on March 2, 2021 and May 19, 2021, respectively. During the first half of 2021, 167 OCA were converted into 1,493,320 shares. As of June 30, 2021, 1 OCA and 235,690 BSA are outstanding. The average effective interest rate of the tranches issued during the first half of 2021 was 13.0%. Fair value of the conversion option is estimated with a Monte-Carlo valuation model using the following main assumptions: 12/31/2020 At the issuance date 06/30/2021 Tranche 6 Tranche 7 Number of convertible notes 48 60 60 1 Estimated conversion price € 6.75 € 6.94 € 4.87 € 3.73 Expected term 1 month 1 month 1 month 1 day Fair value (in thousands of euros) 129 160 160 3 Fair value of the warrants is estimated with a Black & Scholes valuation model using the following main assumptions: 12/31/2020 At the issuance date 06/30/2021 Tranche 6 Tranche 7 Number of warrants 168,350 33,670 33,670 235,690 Price of the underlying share € 7.11 € 7.30 € 5.13 € 3.93 Expected dividends — % — % — % — % Volatility 58.11 % 58.40 % 62.24 % 61.13 % Expected term 2 years 1 year, 10 months 1 year, 7 months 1 year, 6 months Fair value (in thousands of euros) 288 59 25 69 Sensitivity analysis as of June 30, 2021 A change in the main assumptions used for the valuation of the conversion option would have no significant impact in the fair value . A change in the following assumptions used for the valuation of the warrants could change the fair value as follows. (in thousands of euros) Price of the underlying share Volatility -10% 3.93 +10% - 10 percentage points 25 38 54 61% 49 69 93 +10 percentage points 80 107 137 |
Related Parties
Related Parties | 6 Months Ended |
Jun. 30, 2021 | |
Disclosure of transactions between related parties [abstract] | |
Related parties | RELATED PARTIES The Company’s related parties include the Chairman of the Board of Directors (Jean-Paul Kress), the Chief Executive Officer (Gil Beyen), the two Deputy General Managers (Jérôme Bailly and Eric Soyer), members of the Board of Directors and members of the executive committee. The remuneration of directors and other members of the executive committee was as set forth in the table below . 06/30/2020 06/30/2021 (amounts in thousands of euros) Salary / fees Retirement benefits Share based payments Salary / fees Retirement benefits Share based payments Executive officers / VP and qualified person 639 11 171 593 11 254 Executive committee 593 11 19 764 12 183 Board of directors 147 0 29 153 — 1 Total 1,379 22 219 1,510 23 438 The Company has no other related parties. |
Off-Balance Sheet Commitments
Off-Balance Sheet Commitments | 6 Months Ended |
Jun. 30, 2021 | |
Disclosure Of Off-Balance Sheet Commitments [Abstract] | |
Off-balance sheet commitments | OFF-BALANCE SHEET COMMITMENTS The off-balance-sheet commitments as of December 31, 2020 have not changed significantly during the first half of 2021, except for the following commitments: Sublease in the United-States In May 2021, the Company signed a sublease agreement for a portion of its premises located in Cambridge. As part of this agreement, the Company received a security deposit in the form of a letter of credit in the amount of $59 thousand. |
Accounting Rules and Methods (P
Accounting Rules and Methods (Policies) | 6 Months Ended |
Jun. 30, 2021 | |
Disclosure Of Accounting Rules And Methods [Abstract] | |
Basis of preparation | Basis of preparation The Interim Condensed Consolidated Financial Statements have been prepared in accordance with the underlying assumptions of going concern as the Company’s loss-making situation is explained by the innovative nature of the products developed, therefore involving a multi-year research and development phase. The Company has historically financed its growth by strengthening its equity in the form of capital increases and issuance of convertible bonds. At the approval date of the Unaudited Interim Condensed Consolidated Financial Statements, the Board of Directors believes that the Company will be able to fund its oper ations into the third quarter 2022, consideri ng: • Cash and cash equivalents held by the Company amounted to €46.3 million as of June 30, 2021. They are composed of cash and term deposits readily available without penalty; • The issuance of two tranches of convertibles notes of €3.0 million each in July 2021 and August 2021, as part of the financing agreement signed with Luxembourg-based European High Growth Opportunities Securitization Fund; • The possibility to use the OCABSA agreement allowing a potential fundraising up to a maximum of €33.0 million until June 2022, subject to the regulatory limit of 20% dilution and to authorizations of the general meeting, representing approximately €15.0 million based on the closing market price the day before the approval date of the Unaudited Interim Condensed Consolidated Financial Statements (€5.04). Considering the above factors and assumptions, the Company believes that it is able to fund its operations during the 12 months after the closing date. From this date, the Company will have to find additional funding. Various financing sources are considered among the issuance of new debt or equity instruments and partnership agreements. |
Statement of compliance | Statement of compliance The Condensed Consolidated Financial Statements have been prepared in accordance with International Financial Reporting Standards (“ IFRS ”) as issued by the International Accounting Standard Board (“ IASB ”) and were approved and authorized for issuance by the Board of Directors of the Company on September 16, 2021. Due to the listing of ordinary shares of the Company on Euronext Paris and in accordance with the European Union’s regulation No. 1606/2002 of July 19, 2002, the Unaudited Interim Condensed Consolidated Financial Statements of the Company are also prepared in accordance with IAS 34, Interim financial reporting , as adopted by the European Union (EU). As of June 30, 2021, all IFRS that the IASB had published and that are mandatory are the same as those adopted by the EU and mandatory in the EU. As a result, the Unaudited Interim Condensed Consolidated Financial Statements comply with International Financial Reporting Standards as published by the IASB and as adopted by the EU. As condensed financial statements, they do not include all information that would be required by the full IFRS standards. They must be read in conjunction with the consolidated financial statements for the year ended December 31, 2020. Except for the standards applicable as of January 1, 2021 described below, the standards applied in the preparation of the Condensed Consolidated Financial Statements are the same as those applied to prepare the financial statements as of December 31, 2020. The Company adopted the following standards, amendments and interpretations that are mandatory as of January 1, 2021: • Amendments to IFRS 9, IAS 39, IFRS 7, IFRS 4 and IFRS 16 - Interest Rate Benchmark Reform – Phase 2 ; and • Amendment to IFRS 16 - Leases Covid 19-Related Rent Concessions These new texts did not have any significant impact on the Company’s results or financial position. The standards and interpretations that are optionally applicable to the Company as of June 30, 2021 were not applied in advance. Recently issued accounting pronouncements that may be relevant to the Company’s operations are as follows: • Amendments to IAS 1 - Classification of liabilities as current or non-current ; • Amendments to IAS 16 - Property, Plant and Equipment - Proceeds before intended use ; • Amendments to IAS 37 - Onerous contracts - cost of fulfilling a contrac t ; • Amendments to IAS 1 - Disclosure of Accounting policies ; • Amendments to IAS 8 - Definition of Accounting Estimates ; • Amendments to IFRS 16 - Leases Covid-19-Related Rent Concessions beyond 30 June 2021 ; • Amendments to IAS 12 - Deferred Tax related to Assets and Liabilities arising from a Single Transaction ; • Annual Improvements 2018-2020. |
Scope of consolidation | Scope of consolidation Details of the Company’s subsidiary as of June 30, 2021 are as follows: Date of incorporation Percent of ownership interest Accounting method ERYTECH Pharma, Inc. April 2014 100% Consolidated There was no change in the scope of consolidation during the period. |
Foreign currencies | Foreign currencies Functional Currency and Translation of Financial Statements into Presentation Currency The Unaudited Interim Condensed Consolidated Financial Statements are presented in euros, which is also the functional currency of the parent company, ERYTECH Pharma S.A. The exchange rates used for the translation of the financial statements of ERYTECH Pharma, Inc. are as follows: Exchange rate (USD per EUR) 06/30/2020 12/31/2020 06/30/2021 Weighted average rate 1.1015 1.1413 1.2057 Closing rate 1.1198 1.2271 1.1884 |
Use of estimates and judgements | Use of estimates and judgments The preparation of the Unaudited Interim Condensed Consolidated Financial Statements in accordance with the rules prescribed by the IFRS requires the use of estimates and the formulation of assumptions having an impact on the financial statements. These estimates can be revised where the circumstances on which they are based change. The actual results may therefore differ from the estimates initially formulated. The main areas of estimates are described in the annual consolidated financial statements. |
Presentation of the statement of income (loss) | Presentation of the statement of income (loss) The Company presents its statement of income (loss) by function. As of today, the main activity of the Company is research and development. Consequently, only research and development expenses and general administrative expenses functions are considered to be representative of the Company's activity. This distinction reflects the analytical assignment of the personnel, external expenses and depreciation and amortization. The detail of the expenses by nature is disclosed in note 3.2. |
Segment reporting | Segment reporting In accordance with IFRS 8 “ Operating Segments ”, reporting by operating segment is derived from the internal organization of the Company’s activities; it reflects management’s viewpoint and is established based on internal reporting used by the chief operating decision maker (the Chief Executive Officer) to allocate resources and to assess performance. Information per operating segment The Company operates in a single operating segment: the conducting of research and development of innovative red blood cell-based therapeutics for cancer and orphan diseases in order to market them in the future. Information per geographical segment Revenues from external customers (amounts in thousands of euros) 06/30/2020 06/30/2021 (6 months) (6 months) France 61 — United States 99 97 Total 160 97 |
Events after the close of the reporting period | Events after the close of the reporting period July 2021: • The Company announced its intention to move forward towards the submission of a BLA to the US Food and Drug Administration (FDA) for eryaspase in hypersensitive acute lymphoblastic leukemia (ALL) patients following feedback from the agency in a pre-BLA meeting. • The U.S. Food and Drug Administration (FDA) granted eryaspase Fast Track designation for the treatment of acute lymphocytic leukemia (ALL) patients who have developed hypersensitivity reactions to E. coli-derived pegylated asparaginase (PEG-ASNase). July / August 2021: • As part of t he convertible notes’ agreement signed in June 2020, the Company issued two tranches of €3.0 million (60 OCABSA) each on July 22 , 2021 and August 24, 2021, respectively. |
Accounting Rules and Methods (T
Accounting Rules and Methods (Tables) | 6 Months Ended |
Jun. 30, 2021 | |
Disclosure Of Accounting Rules And Methods [Abstract] | |
Summary of Details of the Company's Subsidiary | Details of the Company’s subsidiary as of June 30, 2021 are as follows: Date of incorporation Percent of ownership interest Accounting method ERYTECH Pharma, Inc. April 2014 100% Consolidated There was no change in the scope of consolidation during the period. |
Summary of Accounting Policy for Exchange Rates | The exchange rates used for the translation of the financial statements of ERYTECH Pharma, Inc. are as follows: Exchange rate (USD per EUR) 06/30/2020 12/31/2020 06/30/2021 Weighted average rate 1.1015 1.1413 1.2057 Closing rate 1.1198 1.2271 1.1884 |
Summary of Geographical Segment Information | Information per geographical segment Revenues from external customers (amounts in thousands of euros) 06/30/2020 06/30/2021 (6 months) (6 months) France 61 — United States 99 97 Total 160 97 |
Notes Related to the Unaudite_3
Notes Related to the Unaudited Interim Condensed Consolidated Statement of Income (Loss) (Tables) | 6 Months Ended |
Jun. 30, 2021 | |
Disclosure Of Detailed Information Of Operating Income Loss [Abstract] | |
Summary of Detailed Information of Operating Income | The Company does not generate any revenue from the sale of its products considering its stage of development. (amounts in thousands of euros) 06/30/2020 06/30/2021 (6 months) (6 months) Research Tax Credit 1,674 2,132 Subsidies 15 41 Revenues from licenses or other contracts 160 97 Total 1,849 2,270 |
Summary of Operating Expense by Nature | Research and development expenses For the six months ended June 30, 2020 (amounts in thousands of euros) R&D Clinical studies Total Consumables 62 2,699 2,761 Rental and maintenance 53 597 650 Services, subcontracting and fees 457 14,713 15,170 Personnel expenses 1,356 6,787 8,143 Depreciation, amortization & provision 106 1,991 2,097 Other 8 17 25 Total 2,042 26,804 28,846 For the six months ended June 30, 2021 (amounts in thousands of euros) R&D Clinical studies Total Consumables 82 2,114 2,196 Rental and maintenance 77 675 752 Services, subcontracting and fees 312 9,581 9,893 Personnel expenses 1,045 7,134 8,179 Depreciation, amortization & provision 177 1,983 2,160 Other — 29 29 Total 1,693 21,516 23,209 (amounts in thousands of euros) 06/30/2020 06/30/2021 (6 months) (6 months) Consumables 89 94 Rental and maintenance 483 578 Services, subcontracting and fees 3,433 3,292 Personnel expenses 3,635 3,307 Depreciation and amortization 341 333 Other 391 423 Total 8,372 8,027 |
Summary of Personal Expenses | Research and development expenses For the six months ended June 30, 2020 (amounts in thousands of euros) R&D Clinical studies Total Wages and salaries 962 5,033 5,995 Share-based payments (employees and executives) (38) 185 147 Social security expenses 432 1,569 2,001 Total personnel expenses 1,356 6,787 8,143 For the six months ended June 30, 2021 (amounts in thousands of euros) R&D Clinical studies Total Wages and salaries 700 5,256 5,956 Share-based payments (employees and executives) 55 295 350 Social security expenses 290 1,583 1,873 Total personnel expenses 1,045 7,134 8,179 (amounts in thousands of euros) 06/30/2020 06/30/2021 (6 months) (6 months) Wages and salaries 2,482 2,140 Share-based payments (employees and executive management) 179 311 Social security expenses 974 856 Total personnel expenses 3,635 3,307 |
Summary of Assumptions Used to Determine Fair Value of Plans Granted | The main assumptions used to determine the fair value of the plans granted during the first half of 2021 are: Grant in June 2021 Number of options 57,000 SO2020 Exercise price €4.78 Price of the underlying share €4.37 Expected dividends 0.00 % Volatility (1) 44.30 % Expected term 6 years 6.5 years Fair value of the plan (in thousands of euros) 96 (1) based on the historical volatility observed on the ERYP index on Euronext |
Summary of Assumptions Used Determine Fair Value of Free Shares Plans Granted | 100% all the shares granted are acquired " id="sjs-B8" xml:space="preserve">The main assumptions used to determine the fair value of the plans granted during the first half of 2021 are: Grant in June 2021 Number of shares 50,831 AGA2020 Price of the underlying share €4.37 Expected dividends 0.00 % Volatility (1) 44.79 % Repo margin 5.00 % Maturity 5 years Performance criteria (2) ERYP € 4.78 Performance multiple ("PM") 2 Fair value of the plan (in thousands of euros) 121 (1) based on the historical volatility observed on the ERYP index on Euronext (2) performance criteria: progression of the quoted market share price between the grant date and the tranche acquisition date • Tri: (ERYPi - ERYP) / (ERYP x (PM – 1)) with ERYPi is equal to the maximum between the share price at the acquisition date and the average price of the 20-quoted market share price days before the grant date discounted by 5% • If TRi <=0% no shares granted are acquired • If Tri>100% all the shares granted are acquired |
Breakdown of Expenses of Plans per Financial Year | Breakdown of expenses Plan name Amount in P&L in euros thousands as of June 30, 2020 of which employees of which executives of which directors AGA 167 120 47 — BSA 29 — — 29 SO 188 46 142 — Total 384 166 189 29 Plan name Amount in P&L in euros thousands as of June 30, 2021 of which employees of which executives of which directors AGA 308 161 146 — BSA 1 — — 1 SO 398 107 290 — Total 707 268 436 1 |
Summary of Financial income (loss) | (amounts in thousands of euros) 06/30/2020 06/30/2021 (6 months) (6 months) Income from short term deposits 3 11 Change in fair value of derivative liabilities (1) — 750 Other financial income 669 2,046 Financial income 672 2,807 Amortized cost of convertible notes (1) — (919) Financial expenses on lease liability (178) (156) Interest expense related to borrowings (54) (158) Other financial expenses (33) (558) Financial expenses (265) (1,791) Financial income (loss) 407 1,016 (1) Refer to note 4.6.1 |
Summary of Basic Earnings per Share and Diluted Earnings (Loss) per Share | 06/30/2020 06/30/2021 (6 months) (6 months) Net loss (in thousands of euros) (34,962) (27,952) Weighted number of shares for the period (1) 17,942,117 22,842,857 Basic loss per share (€/share) (1.95) (1.22) Diluted loss per share (€/share) (1.95) (1.22) (1) after deduction of treasury shares (2,500 shares are held by the Company as treasury shares and recognized as a deduction of shareholders’ equity). |
Notes Related to the Unaudite_4
Notes Related to the Unaudited Interim Condensed Consolidated Statement of Financial Position (Tables) | 6 Months Ended |
Jun. 30, 2021 | |
Disclosure Of Detailed Information Of Financial Position [Abstract] | |
Schedule of Property, Plant and Equipment | (amounts in thousands of euros) General equipment, fixtures and fittings Plant, equipment and tooling Office equipment and computers Assets under construction Advance payment TOTAL GROSS VALUE As of December 31, 2020 20,701 5,787 1,204 77 — 27,769 Increase 25 — 16 42 11 94 Decrease — — (9) — — (9) FX rate impact 580 91 13 — — 684 Reclassification — — 64 (53) 11 22 As of June 30, 2021 21,306 5,878 1,288 66 22 28,560 ACCUMULATED DEPRECIATION As of December 31, 2020 (4,127) (2,092) (688) — — (6,907) Increase (1,066) (535) (110) — — (1,711) Decrease — — 9 — — 9 FX rate impact (102) (25) (6) — — (133) Reclassification — — — — — — As of June 30, 2021 (5,295) (2,652) (795) — — (8,742) NET VALUE As of December 31, 2020 16,574 3,695 516 77 — 20,862 As of June 30, 2021 16,011 3,226 493 66 22 19,818 |
Schedule of Right of Use | (amounts in thousands of euros) Buildings Plant, equipment and tooling Transport equipment Office equipment and computers TOTAL GROSS VALUE As of December 31, 2020 10,846 954 73 118 11,991 Increase — 376 3 — 379 Decrease (1,715) — — — (1,715) FX rate impact 145 5 — — 150 Reclassification — — — — — As of June 30, 2021 9,276 1,335 76 118 10,805 ACCUMULATED DEPRECIATION As of December 31, 2020 (2,649) (954) (42) (118) (3,763) Increase (726) (37) (12) — (775) Decrease 1,050 — — — 1,050 FX rate impact (38) (1) — — (39) Reclassification — — — — — As of June 30, 2021 (2,363) (992) (54) (118) (3,527) NET VALUE As of December 31, 2020 8,197 — 31 — 8,228 As of June 30, 2021 6,913 343 22 — 7,278 |
Schedule of Trade Receivables and Other Current Assets | (amounts in thousands of euros) 12/31/2020 06/30/2021 Trade and other receivables 4 14 Total trade and other receivables 4 14 Research Tax Credit 3,432 5,564 Other receivables (including tax and social receivables) 898 660 Net investment in a sublease — 446 Prepaid expenses 793 1,515 Total other current assets 5,123 8,185 |
Summary of Cash and Cash Equivalents | (amounts in thousands of euros) 12/31/2020 06/30/2021 Current account 34,348 41,221 Term deposits 10,098 5,102 Total cash and cash equivalents as reported in statement of financial position 44,446 46,323 Bank overdrafts — — Total cash and cash equivalents as reported in statement of cash flow 44,446 46,323 |
Summary of Common Shares | Number of shares As of December 31, 2020 20,057,562 Shares issued as part of the Registered Offering 4,137,932 Shares sold under the at-the-market (“ATM”) program 744,186 Conversion of convertible notes ("OCA") 1,493,320 Free shares acquired 5,955 As of June 30, 2021 26,438,955 |
Summary of Financial Liabilities by Type | (amounts in thousands of euros) Convertible notes Conditional advances Bank loans Other Total As of December 31, 2020 2,169 4,421 10,019 35 16,644 Collection 5,712 — — — 5,712 Fair value of embedded derivatives (404) — — — (404) Amortized cost 919 66 92 — 1,077 Conversion (8,350) — — — (8,350) Repayment — — — — — FX rate impact — — — 2 2 As of June 30, 2021 46 4,487 10,111 37 14,681 |
Summary of Financial Liabilities by Maturity | Financial liabilities by maturity June 30, 2021 (in thousands of euros) Less than one year One to three years Three to five years More than five years Total Convertible notes 46 — — — 46 Conditional advances — — — 4,487 4,487 Bank loans 182 3,526 5,099 1,304 10,111 Other — 37 — — 37 Total financial liabilities 228 3,563 5,099 5,791 14,681 |
Summary of Derivative Financial Instruments | Fair value of the conversion option is estimated with a Monte-Carlo valuation model using the following main assumptions: 12/31/2020 At the issuance date 06/30/2021 Tranche 6 Tranche 7 Number of convertible notes 48 60 60 1 Estimated conversion price € 6.75 € 6.94 € 4.87 € 3.73 Expected term 1 month 1 month 1 month 1 day Fair value (in thousands of euros) 129 160 160 3 Fair value of the warrants is estimated with a Black & Scholes valuation model using the following main assumptions: 12/31/2020 At the issuance date 06/30/2021 Tranche 6 Tranche 7 Number of warrants 168,350 33,670 33,670 235,690 Price of the underlying share € 7.11 € 7.30 € 5.13 € 3.93 Expected dividends — % — % — % — % Volatility 58.11 % 58.40 % 62.24 % 61.13 % Expected term 2 years 1 year, 10 months 1 year, 7 months 1 year, 6 months Fair value (in thousands of euros) 288 59 25 69 |
Sensitivity Analysis For The Valuation Of Warrants | A change in the following assumptions used for the valuation of the warrants could change the fair value as follows. (in thousands of euros) Price of the underlying share Volatility -10% 3.93 +10% - 10 percentage points 25 38 54 61% 49 69 93 +10 percentage points 80 107 137 |
Summary of Lease Liabilities | (in thousands of euros) Lease liabilities As of December 31, 2020 10,804 Increase without cash impact 379 Repayment (830) Decrease without cash impact — FX rate impact 194 Capitalized interests — As of June 30, 2021 10,547 |
Summary of Lease Liabilities by Maturity | Lease liabilities by maturity Less than one year One to three years Three to five years More than five years Total As of June 30, 2021 1,732 2,965 2,276 3,574 10,547 |
Summary of Trade Payables and Other Current Liabilities | (amounts in thousands of euros) 12/31/2020 06/30/2021 Vendors 4,706 3,352 Vendors - accruals 16,204 14,287 Total trade and other payables 20,910 17,639 Social liabilities, taxation and social security 4,149 3,604 Fixed assets payables 86 33 Deferred revenue 148 120 Other payables 53 69 Total other current liabilities 4,436 3,826 |
Summary of Financial Instruments Recognized in the Consolidated Statement of Financial Position | As of December 31, 2020 Carrying amount on the statement of financial position (1) Fair value through profit and loss Fair value through other comprehensive income Financial assets at amortized cost Financial liabilities at amortized cost Fair value Other non-current assets 1,091 1,091 1,091 Other current financial assets 59 59 59 Trade and other receivables 4 4 4 Other current assets 4,330 4,330 4,330 Cash and cash equivalents (2) 44,446 44,446 44,446 Total financial assets 49,930 44,446 — 5,484 — 49,930 Financial liabilities - non current portion (3) 14,379 14,379 14,379 Derivative liabilities - non current portion (5) 288 288 288 Lease liabilities - non current portion (4) 9,197 9,197 9,197 Financial liabilities - current portion (3) 2,265 2,265 2,265 Derivative liabilities - current portion (5) 129 129 129 Lease liabilities - current portion (4) 1,607 1,607 1,607 Trade and other payables 20,910 20,910 20,910 Other current liabilities 4,288 4,288 4,288 Total financial liabilities 53,063 417 — — 52,646 53,063 As of June 30, 2021 Carrying amount on the statement of financial position (1) Fair value through profit and loss Fair value through other comprehensive income Financial assets at amortized cost Financial liabilities at amortized cost Fair value Other non-current assets 1,091 1,091 1,091 Other current financial assets 516 516 516 Trade and other receivables 14 14 14 Other current assets 6,669 6,669 6,669 Cash and cash equivalents (2) 46,323 46,323 46,323 Total financial assets 54,613 46,323 — 8,290 — 54,613 Financial liabilities - non current portion (3) 14,452 14,452 14,452 Derivative liabilities - non current portion (5) 69 69 69 Lease liabilities - non current portion (4) 8,815 8,815 8,815 Financial liabilities - current portion (3) 229 229 229 Derivative liabilities - current portion (5) 3 3 3 Lease liabilities - current portion (4) 1,732 1,732 1,732 Trade and other payables 17,639 17,639 17,639 Other current liabilities 3,706 3,706 3,706 Total financial liabilities 46,645 72 — — 46,573 46,645 (1) The carrying amount of these assets and liabilities is a reasonable approximation of their fair value. (2) Cash and cash equivalents are comprised of cash in bank and term deposit accounts, which are measured using level 1 measurements. (3) The fair value of financial liabilities is determined using level 2 measurements. (4) The fair value of lease liabilities is determined using level 2 measurements. (5) The fair value of derivative liabilities is determined using level 3 measurements. |
Related Parties (Tables)
Related Parties (Tables) | 6 Months Ended |
Jun. 30, 2021 | |
Disclosure of transactions between related parties [abstract] | |
Summary of remuneration of directors and members of the executive committee | The remuneration of directors and other members of the executive committee was as set forth in the table below . 06/30/2020 06/30/2021 (amounts in thousands of euros) Salary / fees Retirement benefits Share based payments Salary / fees Retirement benefits Share based payments Executive officers / VP and qualified person 639 11 171 593 11 254 Executive committee 593 11 19 764 12 183 Board of directors 147 0 29 153 — 1 Total 1,379 22 219 1,510 23 438 |
Description of the Business (De
Description of the Business (Detail) € / shares in Units, $ / shares in Units, € in Thousands, $ in Millions | 1 Months Ended | 6 Months Ended | ||||||||||||
Apr. 30, 2021USD ($)$ / sharesshares | Apr. 30, 2021€ / shares | Feb. 28, 2021EUR (€)shares | Feb. 28, 2021USD ($)shares | Nov. 30, 2017EUR (€) | Nov. 30, 2017USD ($) | May 31, 2013EUR (€) | Jun. 30, 2021EUR (€)€ / sharesshares | Jun. 30, 2020EUR (€) | May 19, 2021EUR (€)shares | Mar. 02, 2021EUR (€)shares | Dec. 31, 2020EUR (€) | Dec. 31, 2019EUR (€) | ||
Disclosure Of Description Of Business [Line Items] | ||||||||||||||
Initial public offering amount | € 124,000 | $ 144 | € 17,700 | |||||||||||
Shareholders' equity | € | € 36,362 | € 51,110 | € 26,539 | € 85,560 | ||||||||||
Issue of ordinary shares | € | 39,834 | [1] | € 119 | |||||||||||
Convertible notes | € | € 46 | € 3,000 | € 3,000 | |||||||||||
Nominal value (in euro per share) | € / shares | € 0.10 | |||||||||||||
At-The-Market Offering | ||||||||||||||
Disclosure Of Description Of Business [Line Items] | ||||||||||||||
Number of shares issued during the period | 744,186 | 744,186 | 744,186 | |||||||||||
Issue of ordinary shares | € 6,600 | $ 8 | € 6,616 | |||||||||||
Registered Direct Offering | ||||||||||||||
Disclosure Of Description Of Business [Line Items] | ||||||||||||||
Issue of ordinary shares | $ | $ 30 | |||||||||||||
Number of units issued | 1,034,483 | |||||||||||||
Number of ordinary shares issued, per unit (in shares) | 4 | |||||||||||||
Number of warrants issued, per unit (in shares) | 3 | |||||||||||||
Number of shares purchased per warrant (in shares) | 1 | |||||||||||||
Subscription price per unit (in dollar per share) | (per share) | $ 29 | € 24.03 | ||||||||||||
Subscription price per unit (in euro per share) | (per share) | 29 | 24.03 | ||||||||||||
Subscription price per ADS, for one unit (in dollar per share) | (per share) | 7.25 | 6.01 | ||||||||||||
Subscription price per ADS, for one unit (in euro per share) | (per share) | $ 7.25 | 6.01 | ||||||||||||
Associated warrant per unit (in shares) | 0.75 | |||||||||||||
Number of shares received per ADS (in shares) | 1 | |||||||||||||
Nominal value (in euro per share) | € / shares | 0.10 | |||||||||||||
Exercise price of share subscription warrants (in euro per share) | (per share) | $ 9.05 | 7.50 | ||||||||||||
Exercise price of share subscription warrants (in dollar per share) | (per share) | $ 9.05 | € 7.50 | ||||||||||||
Share subscription warrants term | 2 years | |||||||||||||
Derivatives | ||||||||||||||
Disclosure Of Description Of Business [Line Items] | ||||||||||||||
Number of convertible notes issued (in shares) | 60 | 60 | ||||||||||||
TRYBECA Trial One | Bottom of range | ||||||||||||||
Disclosure Of Description Of Business [Line Items] | ||||||||||||||
Duration of delay in patient enrollment | 3 months | |||||||||||||
TRYBECA Trial One | Top of range | ||||||||||||||
Disclosure Of Description Of Business [Line Items] | ||||||||||||||
Duration of delay in patient enrollment | 4 months | |||||||||||||
[1] | Includes €24,869 thousand related to the Registered Offering, €6,616 thousand to shares sold under the at-the-market (“ATM”) program (refer to note 4.5) and €8,350 thousand linked to the conversion of convertible notes (refer to note 4.6.1). |
Accounting Rules and Methods -
Accounting Rules and Methods - Additional Information (Details) € / shares in Units, € in Thousands | 1 Months Ended | 3 Months Ended | ||||
Aug. 24, 2021EUR (€)tranchshares | May 19, 2021EUR (€)tranchshares | Jul. 22, 2021EUR (€)shares | Jun. 30, 2021EUR (€)€ / shares | Mar. 02, 2021EUR (€)shares | Dec. 31, 2020EUR (€) | |
Disclosure Of Significant Accounting Policies [Line Items] | ||||||
Cash and cash equivalents | € 46,323 | € 44,446 | ||||
Number of tranches of convertible notes issued | tranch | 2 | |||||
Convertible notes | € 3,000 | 46 | € 3,000 | |||
Undrawn borrowing facilities | € 15,000 | |||||
Percentage of permissible dilution | 20.00% | |||||
Closing market price | € / shares | € 5.04 | |||||
Derivatives | ||||||
Disclosure Of Significant Accounting Policies [Line Items] | ||||||
Number of convertible notes issued (in shares) | shares | 60 | 60 | ||||
Major ordinary share transactions | European High Growth Opportunities Securitization Fund | ||||||
Disclosure Of Significant Accounting Policies [Line Items] | ||||||
Number of tranches of convertible notes issued | tranch | 2 | |||||
Convertible notes | € 3,000 | € 3,000 | ||||
Major ordinary share transactions | Derivatives | European High Growth Opportunities Securitization Fund | ||||||
Disclosure Of Significant Accounting Policies [Line Items] | ||||||
Number of convertible notes issued (in shares) | shares | 60 | 60 | ||||
Top of range | ||||||
Disclosure Of Significant Accounting Policies [Line Items] | ||||||
Undrawn borrowing facilities | € 33,000 |
Accounting Rules and Methods _2
Accounting Rules and Methods - Summary of Details of the Company's Subsidiary (Details) | 6 Months Ended |
Jun. 30, 2021 | |
Disclosure Of Accounting Rules And Methods [Abstract] | |
Percent of ownership interest | 100.00% |
Accounting Rules and Methods _3
Accounting Rules and Methods - Summary of Accounting Policy for Exchange Rates (Details) - uSD_per_EUR | Jun. 30, 2021 | Dec. 31, 2020 | Jun. 30, 2020 |
Disclosure Of Accounting Rules And Methods [Abstract] | |||
Weighted average rate | 1.2057 | 1.1413 | 1.1015 |
Closing rate | 1.1884 | 1.2271 | 1.1198 |
Accounting Rules and Methods _4
Accounting Rules and Methods - Summary of Information about Geographical Segment (Details) - EUR (€) € in Thousands | 6 Months Ended | |
Jun. 30, 2021 | Jun. 30, 2020 | |
Disclosure of geographical areas [line items] | ||
Total | € 97 | € 160 |
France | ||
Disclosure of geographical areas [line items] | ||
Total | 0 | 61 |
United States | ||
Disclosure of geographical areas [line items] | ||
Total | € 97 | € 99 |
Notes Related to the Unaudite_5
Notes Related to the Unaudited Interim Condensed Consolidated Statement of Income (Loss) - Summary of Detailed Information of Operating Income (Details) - EUR (€) € in Thousands | 6 Months Ended | |
Jun. 30, 2021 | Jun. 30, 2020 | |
Disclosure Of Detailed Information Of Operating Income Loss [Line Items] | ||
Total | € 2,270 | € 1,849 |
Research Tax Credit | ||
Disclosure Of Detailed Information Of Operating Income Loss [Line Items] | ||
Total | 2,132 | 1,674 |
Subsidies | ||
Disclosure Of Detailed Information Of Operating Income Loss [Line Items] | ||
Total | 41 | 15 |
Revenues from licenses or other contracts | ||
Disclosure Of Detailed Information Of Operating Income Loss [Line Items] | ||
Total | € 97 | € 160 |
Notes Related to the Unaudite_6
Notes Related to the Unaudited Interim Condensed Consolidated Statement of Income (Loss) - Additional Information (Details) € in Thousands | 6 Months Ended | |
Jun. 30, 2021EUR (€)employeeshares | Jun. 30, 2020EUR (€)employee | |
Disclosure Of Detailed Information Of Operating Income Loss [Line Items] | ||
Outstanding equity instruments (in shares) | shares | 2,220,859 | |
Net foreign currency gain | € 1,436 | € 542 |
Tedac Project | ||
Disclosure Of Detailed Information Of Operating Income Loss [Line Items] | ||
Conditional advance received | 2,979 | |
Subsidy received | 294 | |
Research Tax Credit | Tedac Project | ||
Disclosure Of Detailed Information Of Operating Income Loss [Line Items] | ||
Decrease in other income | € 538 | |
Research and development expenses | ||
Disclosure Of Detailed Information Of Operating Income Loss [Line Items] | ||
Average number of employees | employee | 155 | 165 |
General and administrative expenses | ||
Disclosure Of Detailed Information Of Operating Income Loss [Line Items] | ||
Average number of employees | employee | 41 | 41 |
Notes Related to the Unaudite_7
Notes Related to the Unaudited Interim Condensed Consolidated Statement of Income (Loss) - Summary of Operating Expenses by Nature (Details) - EUR (€) € in Thousands | 6 Months Ended | |
Jun. 30, 2021 | Jun. 30, 2020 | |
Disclosure Of Operating Expenses [Line Items] | ||
Total | € 31,236 | € 37,218 |
Research and development expenses | ||
Disclosure Of Operating Expenses [Line Items] | ||
Consumables | 2,196 | 2,761 |
Rental and maintenance | 752 | 650 |
Services, subcontracting and fees | 9,893 | 15,170 |
Personnel expenses | 8,179 | 8,143 |
Depreciation, amortization & provision | 2,160 | 2,097 |
Other | 29 | 25 |
Total | 23,209 | 28,846 |
Research and development expenses | R&D | ||
Disclosure Of Operating Expenses [Line Items] | ||
Consumables | 82 | 62 |
Rental and maintenance | 77 | 53 |
Services, subcontracting and fees | 312 | 457 |
Personnel expenses | 1,045 | 1,356 |
Depreciation, amortization & provision | 177 | 106 |
Other | 0 | 8 |
Total | 1,693 | 2,042 |
Research and development expenses | Clinical studies | ||
Disclosure Of Operating Expenses [Line Items] | ||
Consumables | 2,114 | 2,699 |
Rental and maintenance | 675 | 597 |
Services, subcontracting and fees | 9,581 | 14,713 |
Personnel expenses | 7,134 | 6,787 |
Depreciation, amortization & provision | 1,983 | 1,991 |
Other | 29 | 17 |
Total | 21,516 | 26,804 |
General and administrative expenses | ||
Disclosure Of Operating Expenses [Line Items] | ||
Consumables | 94 | 89 |
Rental and maintenance | 578 | 483 |
Services, subcontracting and fees | 3,292 | 3,433 |
Personnel expenses | 3,307 | 3,635 |
Depreciation, amortization & provision | 333 | 341 |
Other | 423 | 391 |
Total | € 8,027 | € 8,372 |
Notes Related to the Unaudite_8
Notes Related to the Unaudited Interim Condensed Consolidated Statement of Income (Loss) - Summary of Personal Expenses (Details) - EUR (€) € in Thousands | 6 Months Ended | |
Jun. 30, 2021 | Jun. 30, 2020 | |
Research and development expenses | ||
Disclosure Of Employee Benefits Expense [Line Items] | ||
Wages and salaries | € 5,956 | € 5,995 |
Share-based payments (employees and executives) | 350 | 147 |
Social security expenses | 1,873 | 2,001 |
Total personnel expenses | 8,179 | 8,143 |
Research and development expenses | R&D | ||
Disclosure Of Employee Benefits Expense [Line Items] | ||
Wages and salaries | 700 | 962 |
Share-based payments (employees and executives) | 55 | (38) |
Social security expenses | 290 | 432 |
Total personnel expenses | 1,045 | 1,356 |
Research and development expenses | Clinical studies | ||
Disclosure Of Employee Benefits Expense [Line Items] | ||
Wages and salaries | 5,256 | 5,033 |
Share-based payments (employees and executives) | 295 | 185 |
Social security expenses | 1,583 | 1,569 |
Total personnel expenses | 7,134 | 6,787 |
General and administrative expenses | ||
Disclosure Of Employee Benefits Expense [Line Items] | ||
Wages and salaries | 2,140 | 2,482 |
Share-based payments (employees and executives) | 311 | 179 |
Social security expenses | 856 | 974 |
Total personnel expenses | € 3,307 | € 3,635 |
Notes Related to the Unaudite_9
Notes Related to the Unaudited Interim Condensed Consolidated Statement of Income (Loss) - Summary of Stock-options (“SO”) plan (Details) - SO2020 € / shares in Units, € in Thousands | 1 Months Ended |
Jun. 30, 2021EUR (€)sharesyear€ / shares | |
Disclosure Of Detailed Information Of Operating Income Loss [Line Items] | |
Number of options granted (in shares) | shares | 57,000 |
Exercise price (in euro per share) | € / shares | € 4.78 |
Price of the underlying share (in euro per share) | € / shares | € 4.37 |
Expected dividends | 0.00% |
Volatility | 44.30% |
Fair value of the plan (in thousands of euros) | € | € 96 |
Tranche one | |
Disclosure Of Detailed Information Of Operating Income Loss [Line Items] | |
Expected term | year | 6 |
Tranche two | |
Disclosure Of Detailed Information Of Operating Income Loss [Line Items] | |
Expected term | year | 6,500 |
Notes Related to the Unaudit_10
Notes Related to the Unaudited Interim Condensed Consolidated Statement of Income (Loss) - Summary of Free shares (“AGA”) plan (Details) € / shares in Units, € in Thousands | 1 Months Ended | 6 Months Ended |
Jun. 30, 2021EUR (€)multiplesharesyear€ / shares | Jun. 30, 2021€ / shares | |
Disclosure Of Detailed Information Of Operating Income Loss [Line Items] | ||
Performance criteria | Tri: (ERYPi - ERYP) / (ERYP x (PM – 1)) with ERYPi is equal to the maximum between the share price at the acquisition date and the average price of the 20-quoted market share price days before the grant date discounted by 5%•If TRi <=0% no shares granted are acquired •If Tri>100% all the shares granted are acquired •If 0%<TRi<100% shares granted are acquired following the TRi percentage | |
AGA 2020 | ||
Disclosure Of Detailed Information Of Operating Income Loss [Line Items] | ||
Number of options granted (in shares) | shares | 50,831 | |
Price of the underlying share (in euro per share) | € 4.37 | € 4.37 |
Expected dividends | 0.00% | |
Volatility | 44.79% | |
Repo margin | 5.00% | |
Expected term | year | 5 | |
Weighted average share price, share options granted (in euro per share) | € 4.78 | |
Performance multiple ("PM") | multiple | 2 | |
Fair value of the plan (in thousands of euros) | € | € 121 |
Notes Related to the Unaudit_11
Notes Related to the Unaudited Interim Condensed Consolidated Statement of Income (Loss) - Summary of Breakdown of Plan (Details) - EUR (€) € in Thousands | 6 Months Ended | |
Jun. 30, 2021 | Jun. 30, 2020 | |
Disclosure Of Fair Value Of Equity Instruments Granted [Line Items] | ||
Share-based compensation expense recognized in profit (loss) | € 707 | € 384 |
Employees | ||
Disclosure Of Fair Value Of Equity Instruments Granted [Line Items] | ||
Share-based compensation expense recognized in profit (loss) | 268 | 166 |
Executives | ||
Disclosure Of Fair Value Of Equity Instruments Granted [Line Items] | ||
Share-based compensation expense recognized in profit (loss) | 436 | 189 |
Directors | ||
Disclosure Of Fair Value Of Equity Instruments Granted [Line Items] | ||
Share-based compensation expense recognized in profit (loss) | 1 | 29 |
AGA | ||
Disclosure Of Fair Value Of Equity Instruments Granted [Line Items] | ||
Share-based compensation expense recognized in profit (loss) | 308 | 167 |
AGA | Employees | ||
Disclosure Of Fair Value Of Equity Instruments Granted [Line Items] | ||
Share-based compensation expense recognized in profit (loss) | 161 | 120 |
AGA | Executives | ||
Disclosure Of Fair Value Of Equity Instruments Granted [Line Items] | ||
Share-based compensation expense recognized in profit (loss) | 146 | 47 |
BSA | ||
Disclosure Of Fair Value Of Equity Instruments Granted [Line Items] | ||
Share-based compensation expense recognized in profit (loss) | 1 | 29 |
BSA | Directors | ||
Disclosure Of Fair Value Of Equity Instruments Granted [Line Items] | ||
Share-based compensation expense recognized in profit (loss) | 1 | 29 |
SO | ||
Disclosure Of Fair Value Of Equity Instruments Granted [Line Items] | ||
Share-based compensation expense recognized in profit (loss) | 398 | 188 |
SO | Employees | ||
Disclosure Of Fair Value Of Equity Instruments Granted [Line Items] | ||
Share-based compensation expense recognized in profit (loss) | 107 | 46 |
SO | Executives | ||
Disclosure Of Fair Value Of Equity Instruments Granted [Line Items] | ||
Share-based compensation expense recognized in profit (loss) | € 290 | € 142 |
Notes Related to the Unaudit_12
Notes Related to the Unaudited Interim Condensed Consolidated Statement of Income (Loss) - Summary of Financial Income (Loss) (Details) - EUR (€) € in Thousands | 6 Months Ended | |
Jun. 30, 2021 | Jun. 30, 2020 | |
Disclosure Of Detailed Information Of Operating Income Loss [Abstract] | ||
Income from short term deposits | € 11 | € 3 |
Change in fair value of derivative liabilities | 750 | 0 |
Other financial income | 2,046 | 669 |
Financial income | 2,807 | 672 |
Amortized cost of convertible notes | (919) | 0 |
Financial expenses on lease liability | (156) | (178) |
Interest expense related to borrowings | (158) | (54) |
Other financial expenses | (558) | (33) |
Financial expenses | (1,791) | (265) |
Financial income (loss) | € 1,016 | € 407 |
Notes Related to the Unaudit_13
Notes Related to the Unaudited Interim Condensed Consolidated Statement of Income (Loss) - Summary of Basic Earnings per Share and Diluted Earnings (Loss) per Share (Details) - EUR (€) € / shares in Units, € in Thousands | 6 Months Ended | |
Jun. 30, 2021 | Jun. 30, 2020 | |
Disclosure Of Detailed Information Of Operating Income Loss [Abstract] | ||
Net loss | € (27,952) | € (34,962) |
Weighted number of shares for the period (in shares) | 22,842,857 | 17,942,117 |
Basic loss per share (€/share) | € (1.22) | € (1.95) |
Diluted loss per share (€/share) | € (1.22) | € (1.95) |
Number of treasury shares held (in shares) | 2,500,000 | 2,500,000 |
Notes Related to the Unaudit_14
Notes Related to the Unaudited Interim Condensed Consolidated Statement of Financial Position - Schedule of Property, Plant and Equipment (Details) € in Thousands | 6 Months Ended |
Jun. 30, 2021EUR (€) | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Beginning balance | € 20,862 |
Ending balance | 19,818 |
GROSS VALUE | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Beginning balance | 27,769 |
Increase | 94 |
Decrease | (9) |
FX rate impact | 684 |
Reclassification | 22 |
Ending balance | 28,560 |
ACCUMULATED DEPRECIATION | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Beginning balance | (6,907) |
Decrease | 9 |
FX rate impact | (133) |
Reclassification | 0 |
Increase | (1,711) |
Ending balance | (8,742) |
General equipment, fixtures and fittings | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Beginning balance | 16,574 |
Ending balance | 16,011 |
General equipment, fixtures and fittings | GROSS VALUE | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Beginning balance | 20,701 |
Increase | 25 |
Decrease | 0 |
FX rate impact | 580 |
Reclassification | 0 |
Ending balance | 21,306 |
General equipment, fixtures and fittings | ACCUMULATED DEPRECIATION | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Beginning balance | (4,127) |
Decrease | 0 |
FX rate impact | (102) |
Reclassification | 0 |
Increase | (1,066) |
Ending balance | (5,295) |
Plant, equipment and tooling | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Beginning balance | 3,695 |
Ending balance | 3,226 |
Plant, equipment and tooling | GROSS VALUE | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Beginning balance | 5,787 |
Increase | 0 |
Decrease | 0 |
FX rate impact | 91 |
Reclassification | 0 |
Ending balance | 5,878 |
Plant, equipment and tooling | ACCUMULATED DEPRECIATION | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Beginning balance | (2,092) |
Decrease | 0 |
FX rate impact | (25) |
Reclassification | 0 |
Increase | (535) |
Ending balance | (2,652) |
Office equipment and computers | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Beginning balance | 516 |
Ending balance | 493 |
Office equipment and computers | GROSS VALUE | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Beginning balance | 1,204 |
Increase | 16 |
Decrease | (9) |
FX rate impact | 13 |
Reclassification | 64 |
Ending balance | 1,288 |
Office equipment and computers | ACCUMULATED DEPRECIATION | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Beginning balance | (688) |
Decrease | 9 |
FX rate impact | (6) |
Reclassification | 0 |
Increase | (110) |
Ending balance | (795) |
Assets under construction | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Beginning balance | 77 |
Ending balance | 66 |
Assets under construction | GROSS VALUE | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Beginning balance | 77 |
Increase | 42 |
Decrease | 0 |
FX rate impact | 0 |
Reclassification | (53) |
Ending balance | 66 |
Assets under construction | ACCUMULATED DEPRECIATION | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Beginning balance | 0 |
Decrease | 0 |
FX rate impact | 0 |
Reclassification | 0 |
Increase | 0 |
Ending balance | 0 |
Advance payment | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Beginning balance | 0 |
Ending balance | 22 |
Advance payment | GROSS VALUE | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Beginning balance | 0 |
Increase | 11 |
Decrease | 0 |
FX rate impact | 0 |
Reclassification | 11 |
Ending balance | 22 |
Advance payment | ACCUMULATED DEPRECIATION | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Beginning balance | 0 |
Decrease | 0 |
FX rate impact | 0 |
Reclassification | 0 |
Increase | 0 |
Ending balance | € 0 |
Notes Related to the Unaudit_15
Notes Related to the Unaudited Interim Condensed Consolidated Statement of Financial Position - Schedule of Right of Use (Details) € in Thousands | 6 Months Ended |
Jun. 30, 2021EUR (€) | |
Disclosure Of Detailed information Of Right Of Use [Line Items] | |
Beginning balance | € 8,228 |
Ending balance | 7,278 |
GROSS VALUE | |
Disclosure Of Detailed information Of Right Of Use [Line Items] | |
Beginning balance | 11,991 |
Increase | 379 |
Decrease | (1,715) |
FX rate impact | 150 |
Reclassification | 0 |
Ending balance | 10,805 |
ACCUMULATED DEPRECIATION | |
Disclosure Of Detailed information Of Right Of Use [Line Items] | |
Beginning balance | (3,763) |
Decrease | 1,050 |
FX rate impact | (39) |
Reclassification | 0 |
Increase | (775) |
Ending balance | (3,527) |
Buildings | |
Disclosure Of Detailed information Of Right Of Use [Line Items] | |
Beginning balance | 8,197 |
Ending balance | 6,913 |
Buildings | GROSS VALUE | |
Disclosure Of Detailed information Of Right Of Use [Line Items] | |
Beginning balance | 10,846 |
Increase | 0 |
Decrease | (1,715) |
FX rate impact | 145 |
Reclassification | 0 |
Ending balance | 9,276 |
Buildings | ACCUMULATED DEPRECIATION | |
Disclosure Of Detailed information Of Right Of Use [Line Items] | |
Beginning balance | (2,649) |
Decrease | 1,050 |
FX rate impact | (38) |
Reclassification | 0 |
Increase | (726) |
Ending balance | (2,363) |
Plant, equipment and tooling | |
Disclosure Of Detailed information Of Right Of Use [Line Items] | |
Beginning balance | 0 |
Ending balance | 343 |
Plant, equipment and tooling | GROSS VALUE | |
Disclosure Of Detailed information Of Right Of Use [Line Items] | |
Beginning balance | 954 |
Increase | 376 |
Decrease | 0 |
FX rate impact | 5 |
Reclassification | 0 |
Ending balance | 1,335 |
Plant, equipment and tooling | ACCUMULATED DEPRECIATION | |
Disclosure Of Detailed information Of Right Of Use [Line Items] | |
Beginning balance | (954) |
Decrease | 0 |
FX rate impact | (1) |
Reclassification | 0 |
Increase | (37) |
Ending balance | (992) |
Transport equipment | |
Disclosure Of Detailed information Of Right Of Use [Line Items] | |
Beginning balance | 31 |
Ending balance | 22 |
Transport equipment | GROSS VALUE | |
Disclosure Of Detailed information Of Right Of Use [Line Items] | |
Beginning balance | 73 |
Increase | 3 |
Decrease | 0 |
FX rate impact | 0 |
Reclassification | 0 |
Ending balance | 76 |
Transport equipment | ACCUMULATED DEPRECIATION | |
Disclosure Of Detailed information Of Right Of Use [Line Items] | |
Beginning balance | (42) |
Decrease | 0 |
FX rate impact | 0 |
Reclassification | 0 |
Increase | (12) |
Ending balance | (54) |
Office equipment and computers | |
Disclosure Of Detailed information Of Right Of Use [Line Items] | |
Beginning balance | 0 |
Ending balance | 0 |
Office equipment and computers | GROSS VALUE | |
Disclosure Of Detailed information Of Right Of Use [Line Items] | |
Beginning balance | 118 |
Increase | 0 |
Decrease | 0 |
FX rate impact | 0 |
Reclassification | 0 |
Ending balance | 118 |
Office equipment and computers | ACCUMULATED DEPRECIATION | |
Disclosure Of Detailed information Of Right Of Use [Line Items] | |
Beginning balance | (118) |
Decrease | 0 |
FX rate impact | 0 |
Reclassification | 0 |
Increase | 0 |
Ending balance | € (118) |
Notes Related to the Unaudit_16
Notes Related to the Unaudited Interim Condensed Consolidated Statement of Financial Position - Schedule of Trade Receivables and Other Current Assets (Details) - EUR (€) € in Thousands | Jun. 30, 2021 | Dec. 31, 2020 |
Disclosure Of Detailed Information Of Financial Position [Abstract] | ||
Trade and other receivables | € 14 | € 4 |
Research Tax Credit | 5,564 | 3,432 |
Other receivables (including tax and social receivables) | 660 | 898 |
Net investment in a sublease | 446 | 0 |
Prepaid expenses | 1,515 | 793 |
Total other current assets | € 8,185 | € 5,123 |
Notes Related to the Unaudit_17
Notes Related to the Unaudited Interim Condensed Consolidated Statement of Financial Position - Additional Information (Details) € / shares in Units, € in Thousands, $ in Millions | 1 Months Ended | 3 Months Ended | 6 Months Ended | |||||||
Apr. 30, 2021EUR (€)shares | Feb. 28, 2021EUR (€)shares | Feb. 28, 2021USD ($)shares | May 19, 2021EUR (€)tranch | Jun. 30, 2021EUR (€)€ / sharesshares | Jun. 30, 2020EUR (€) | Mar. 02, 2021EUR (€) | Dec. 31, 2020EUR (€)shares | |||
Disclosure of quantitative information about right-of-use assets [line items] | ||||||||||
Prepaid expenses | € 1,515 | € 793 | ||||||||
Term deposits | € 5,102 | € 10,098 | ||||||||
Number of shares fully paid up (in shares) | shares | 26,438,955 | 20,057,562 | ||||||||
Nominal value (in euro per share) | € / shares | € 0.10 | |||||||||
Capital increases, net of transaction costs | € 29,320 | € 118 | ||||||||
Issue of ordinary shares | 39,834 | [1] | € 119 | |||||||
Share issue related cost | [2] | 2,655 | ||||||||
Number of tranches of borrowings issued | tranch | 2 | |||||||||
Convertible notes | € 3,000 | € 46 | € 3,000 | |||||||
Number of convertible notes converted (in shares) | shares | 167 | |||||||||
Conversion of convertible notes ("OCA") (in shares) | shares | 1,493,320 | |||||||||
Number of convertible notes outstanding (in shares) | shares | 1 | |||||||||
Number of warrants attached to convertible notes outstanding (in shares) | shares | 235,690 | |||||||||
Hospital costs accruals | € 10,557 | € 10,770 | ||||||||
At-The-Market Offering | ||||||||||
Disclosure of quantitative information about right-of-use assets [line items] | ||||||||||
Number of shares issued during the period | shares | 744,186 | 744,186 | 744,186 | |||||||
Capital increases, net of transaction costs | € 6,400 | |||||||||
Issue of ordinary shares | € 6,600 | $ 8 | € 6,616 | |||||||
Share issue related cost | € 241 | |||||||||
Registered Offering | ||||||||||
Disclosure of quantitative information about right-of-use assets [line items] | ||||||||||
Number of shares issued during the period | shares | 4,137,932 | 4,137,932 | ||||||||
Capital increases, net of transaction costs | € 22,500 | |||||||||
Issue of ordinary shares | € 24,900 | € 24,869 | ||||||||
Share issue related cost | € 2,414 | |||||||||
Tranche six | ||||||||||
Disclosure of quantitative information about right-of-use assets [line items] | ||||||||||
Convertible notes | € 3,000 | |||||||||
Tranche seven | ||||||||||
Disclosure of quantitative information about right-of-use assets [line items] | ||||||||||
Convertible notes | € 3,000 | |||||||||
Financial liabilities at amortised cost, category | Tranche Six And Seven | ||||||||||
Disclosure of quantitative information about right-of-use assets [line items] | ||||||||||
Borrowings, interest rate | 13.00% | |||||||||
Term Deposits | ||||||||||
Disclosure of quantitative information about right-of-use assets [line items] | ||||||||||
Term deposits | € 5,000 | 10,000 | ||||||||
Convertible to cash | ||||||||||
Disclosure of quantitative information about right-of-use assets [line items] | ||||||||||
Term deposits | 100 | € 100 | ||||||||
Directors and Officers | ||||||||||
Disclosure of quantitative information about right-of-use assets [line items] | ||||||||||
Prepaid expenses | € 1,026 | |||||||||
[1] | Includes €24,869 thousand related to the Registered Offering, €6,616 thousand to shares sold under the at-the-market (“ATM”) program (refer to note 4.5) and €8,350 thousand linked to the conversion of convertible notes (refer to note 4.6.1). | |||||||||
[2] | Includes €2,414 thousand related to the Registered Offering and €241 thousand to shares sold under the at-the-market (“ATM”) program. |
Notes Related to the Unaudit_18
Notes Related to the Unaudited Interim Condensed Consolidated Statement of Financial Position - Summary of Cash and Cash Equivalents (Details) - EUR (€) € in Thousands | Jun. 30, 2021 | Dec. 31, 2020 | Jun. 30, 2020 | Dec. 31, 2019 |
Disclosure Of Detailed Information Of Financial Position [Abstract] | ||||
Current account | € 41,221 | € 34,348 | ||
Term deposits | 5,102 | 10,098 | ||
Total cash and cash equivalents as reported in statement of financial position | 46,323 | 44,446 | ||
Bank overdrafts | 0 | 0 | ||
Total cash and cash equivalents as reported in statement of cash flow | € 46,323 | € 44,446 | € 45,433 | € 73,173 |
Notes Related to the Unaudit_19
Notes Related to the Unaudited Interim Condensed Consolidated Statement of Financial Position - Summary of Shareholders' Equity (Details) - shares | 1 Months Ended | 6 Months Ended | |
Apr. 30, 2021 | Feb. 28, 2021 | Jun. 30, 2021 | |
Disclosure of classes of share capital [line items] | |||
Beginning balance (in shares) | 20,057,562 | ||
Conversion of convertible notes ("OCA") (in shares) | 1,493,320 | ||
Free shares acquired (in shares) | 5,955 | ||
Ending balance (in shares) | 26,438,955 | ||
Registered Offering | |||
Disclosure of classes of share capital [line items] | |||
Number of shares issued during the period | 4,137,932 | 4,137,932 | |
At-The-Market Offering | |||
Disclosure of classes of share capital [line items] | |||
Number of shares issued during the period | 744,186 | 744,186 |
Notes Related to the Unaudit_20
Notes Related to the Unaudited Interim Condensed Consolidated Statement of Financial Position - Summary of Financial Liabilities by Type (Details) - EUR (€) € in Thousands | 6 Months Ended | |
Jun. 30, 2021 | Jun. 30, 2020 | |
Disclosure of reconciliation of liabilities arising from financing activities [line items] | ||
Liabilities arising from financing activities at beginning of period | € 16,644 | |
Collection | 5,712 | € 2,979 |
Fair value of embedded derivatives | (404) | |
Amortized cost | 1,077 | |
Conversion | (8,350) | |
Repayment | 0 | € (62) |
FX rate impact | 2 | |
Liabilities arising from financing activities at end of period | 14,681 | |
Convertible notes | ||
Disclosure of reconciliation of liabilities arising from financing activities [line items] | ||
Liabilities arising from financing activities at beginning of period | 2,169 | |
Collection | 5,712 | |
Fair value of embedded derivatives | (404) | |
Amortized cost | 919 | |
Conversion | (8,350) | |
Repayment | 0 | |
FX rate impact | 0 | |
Liabilities arising from financing activities at end of period | 46 | |
Conditional advances | ||
Disclosure of reconciliation of liabilities arising from financing activities [line items] | ||
Liabilities arising from financing activities at beginning of period | 4,421 | |
Collection | 0 | |
Amortized cost | 66 | |
Repayment | 0 | |
FX rate impact | 0 | |
Liabilities arising from financing activities at end of period | 4,487 | |
Bank loans | ||
Disclosure of reconciliation of liabilities arising from financing activities [line items] | ||
Liabilities arising from financing activities at beginning of period | 10,019 | |
Collection | 0 | |
Amortized cost | 92 | |
Repayment | 0 | |
FX rate impact | 0 | |
Liabilities arising from financing activities at end of period | 10,111 | |
Other | ||
Disclosure of reconciliation of liabilities arising from financing activities [line items] | ||
Liabilities arising from financing activities at beginning of period | 35 | |
Collection | 0 | |
Amortized cost | 0 | |
Repayment | 0 | |
FX rate impact | 2 | |
Liabilities arising from financing activities at end of period | € 37 |
Notes Related to the Unaudit_21
Notes Related to the Unaudited Interim Condensed Consolidated Statement of Financial Position - Summary of Financial Liabilities by Maturity (Details) - EUR (€) € in Thousands | Jun. 30, 2021 | May 19, 2021 | Mar. 02, 2021 |
Disclosure of financial liabilities [line items] | |||
Convertible notes | € 46 | € 3,000 | € 3,000 |
Conditional advances | 4,487 | ||
Bank loans | 10,111 | ||
Other | 37 | ||
Total financial liabilities | 14,681 | ||
Less than one year | |||
Disclosure of financial liabilities [line items] | |||
Convertible notes | 46 | ||
Conditional advances | 0 | ||
Bank loans | 182 | ||
Other | 0 | ||
Total financial liabilities | 228 | ||
One to three years | |||
Disclosure of financial liabilities [line items] | |||
Convertible notes | 0 | ||
Conditional advances | 0 | ||
Bank loans | 3,526 | ||
Other | 37 | ||
Total financial liabilities | 3,563 | ||
Three to five years | |||
Disclosure of financial liabilities [line items] | |||
Convertible notes | 0 | ||
Conditional advances | 0 | ||
Bank loans | 5,099 | ||
Other | 0 | ||
Total financial liabilities | 5,099 | ||
More than five years | |||
Disclosure of financial liabilities [line items] | |||
Convertible notes | 0 | ||
Conditional advances | 4,487 | ||
Bank loans | 1,304 | ||
Other | 0 | ||
Total financial liabilities | € 5,791 |
Notes Related to the Unaudit_22
Notes Related to the Unaudited Interim Condensed Consolidated Statement of Financial Position - Summary of Derivative Financial Instruments (Details) - EUR (€) € / shares in Units, € in Thousands | Jun. 30, 2021 | May 19, 2021 | Mar. 02, 2021 | Dec. 31, 2020 |
Disclosure of fair value measurement of liabilities [line items] | ||||
Number of convertible notes outstanding (in shares) | 1 | |||
Fair value (in thousands of euros) | € 3 | € 129 | ||
Number of warrants attached to convertible notes outstanding (in shares) | 235,690 | |||
Fair value (in thousands of euros) | € 69 | € 288 | ||
Convertible notes | Derivatives | ||||
Disclosure of fair value measurement of liabilities [line items] | ||||
Number of convertible notes outstanding (in shares) | 1 | 48 | ||
Estimated conversion price (in euro per share) | € 3.73 | € 6.75 | ||
Expected term | 1 day | 1 month | ||
Fair value (in thousands of euros) | € 3 | € 129 | ||
Convertible notes | Derivatives | Tranche six | ||||
Disclosure of fair value measurement of liabilities [line items] | ||||
Number of convertible notes (in shares) | 60 | |||
Estimated conversion price (in euro per share) | € 6.94 | |||
Expected term | 1 month | |||
Fair value (in thousands of euros) | € 160 | |||
Convertible notes | Derivatives | Tranche seven | ||||
Disclosure of fair value measurement of liabilities [line items] | ||||
Number of convertible notes (in shares) | 60 | |||
Estimated conversion price (in euro per share) | € 4.87 | |||
Expected term | 1 month | |||
Fair value (in thousands of euros) | € 160 | |||
Warrants | Derivatives | ||||
Disclosure of fair value measurement of liabilities [line items] | ||||
Expected term | 1 year 6 months | 2 years | ||
Number of warrants attached to convertible notes outstanding (in shares) | 235,690 | 168,350 | ||
Price of the underlying share (in euro per share) | € 3.93 | € 7.11 | ||
Expected dividends | 0.00% | 0.00% | ||
Volatility | 61.13% | 58.11% | ||
Fair value (in thousands of euros) | € 69 | € 288 | ||
Warrants | Derivatives | Tranche six | ||||
Disclosure of fair value measurement of liabilities [line items] | ||||
Expected term | 1 year 10 months | |||
Number of warrants (in shares) | 33,670 | |||
Price of the underlying share (in euro per share) | € 7.30 | |||
Expected dividends | 0.00% | |||
Volatility | 58.40% | |||
Fair value (in thousands of euros) | € 59 | |||
Warrants | Derivatives | Tranche seven | ||||
Disclosure of fair value measurement of liabilities [line items] | ||||
Expected term | 1 year 7 months | |||
Number of warrants (in shares) | 33,670 | |||
Price of the underlying share (in euro per share) | € 5.13 | |||
Expected dividends | 0.00% | |||
Volatility | 62.24% | |||
Fair value (in thousands of euros) | € 25 |
Notes Related to the Unaudit_23
Notes Related to the Unaudited Interim Condensed Consolidated Statement of Financial Position - Sensitivity Analysis for the Valuation of Warrants (Details) € in Thousands | Jun. 30, 2021EUR (€)€ / shares | Dec. 31, 2020EUR (€) |
Disclosure of sensitivity analysis of fair value measurement to changes in unobservable inputs, liabilities [line items] | ||
Derivative liabilities - non current portion | € 69 | € 288 |
Price of underlying share | ||
Disclosure of sensitivity analysis of fair value measurement to changes in unobservable inputs, liabilities [line items] | ||
Price of underlying share (euro per share) | € / shares | 3.93 | |
Derivatives | Warrants | ||
Disclosure of sensitivity analysis of fair value measurement to changes in unobservable inputs, liabilities [line items] | ||
Fair value of warrants if underlying share price decrease by 10% and volatility decrease by 10 percentage points | € 25 | |
Fair value of warrants if volatility decrease by 10 percentage points | 38 | |
Fair value of warrants if underlying share price decrease by 10% and volatility increase by 10 percentage points | 54 | |
Fair value of warrants if underlying share price decrease by 10% | 49 | |
Derivative liabilities - non current portion | 69 | € 288 |
Fair value of warrants if underlying share price increase by 10% | 93 | |
Fair value of warrants if underlying share price increase by 10% and volatility decrease by 10 percentage points | 80 | |
Fair value of warrants if volatility increase by 10 percentage points | 107 | |
Fair value of warrants if underlying share price increase by 10% and volatility increase by 10 percentage points | € 137 |
Notes Related to the Unaudit_24
Notes Related to the Unaudited Interim Condensed Consolidated Statement of Financial Position - Schedule of Lease Liabilities (Details) - EUR (€) € in Thousands | 6 Months Ended | |
Jun. 30, 2021 | Jun. 30, 2020 | |
Disclosure Of Detailed Information Of Financial Position [Abstract] | ||
Lease liabilities at beginning of the year | € 10,804 | |
Increase without cash impact | 379 | |
Repayment | (830) | € (810) |
Decrease without cash impact | 0 | |
FX rate impact | 194 | |
Capitalized interests | 0 | |
Lease liabilities at end of the year | € 10,547 |
Notes Related to the Unaudit_25
Notes Related to the Unaudited Interim Condensed Consolidated Statement of Financial Position - Summary of Lease Liabilities By Maturity (Details) - EUR (€) € in Thousands | Jun. 30, 2021 | Dec. 31, 2020 |
Disclosure of amounts to be recovered or settled after twelve months for classes of assets and liabilities that contain amounts to be recovered or settled both no more and more than twelve months after reporting date [line items] | ||
Lease liabilities | € 10,547 | € 10,804 |
Less than one year | ||
Disclosure of amounts to be recovered or settled after twelve months for classes of assets and liabilities that contain amounts to be recovered or settled both no more and more than twelve months after reporting date [line items] | ||
Lease liabilities | 1,732 | |
One to three years | ||
Disclosure of amounts to be recovered or settled after twelve months for classes of assets and liabilities that contain amounts to be recovered or settled both no more and more than twelve months after reporting date [line items] | ||
Lease liabilities | 2,965 | |
Three to five years | ||
Disclosure of amounts to be recovered or settled after twelve months for classes of assets and liabilities that contain amounts to be recovered or settled both no more and more than twelve months after reporting date [line items] | ||
Lease liabilities | 2,276 | |
More than five years | ||
Disclosure of amounts to be recovered or settled after twelve months for classes of assets and liabilities that contain amounts to be recovered or settled both no more and more than twelve months after reporting date [line items] | ||
Lease liabilities | € 3,574 |
Notes Related to the Unaudit_26
Notes Related to the Unaudited Interim Condensed Consolidated Statement of Financial Position - Summary of Trade Payables and Other Current Liabilities (Details) - EUR (€) € in Thousands | Jun. 30, 2021 | Dec. 31, 2020 |
Disclosure Of Detailed Information Of Financial Position [Abstract] | ||
Vendors | € 3,352 | € 4,706 |
Vendors - accruals | 14,287 | 16,204 |
Total trade and other payables | 17,639 | 20,910 |
Social liabilities, taxation and social security | 3,604 | 4,149 |
Fixed assets payables | 33 | 86 |
Deferred revenue | 120 | 148 |
Other payables | 69 | 53 |
Total other current liabilities | € 3,826 | € 4,436 |
Notes Related to the Unaudit_27
Notes Related to the Unaudited Interim Condensed Consolidated Statement of Financial Position - Summary of Financial Instruments Recognized in the Consolidated Statement of Financial Position and Effect on Net Income (Loss) (Details) - EUR (€) € in Thousands | Jun. 30, 2021 | Dec. 31, 2020 |
Disclosure of financial instruments [line items] | ||
Other non-current assets | € 1,091 | € 1,091 |
Trade and other receivables | 14 | 4 |
Other current assets | 8,185 | 5,123 |
Cash and cash equivalents | 46,323 | 44,446 |
Financial liabilities – non-current portion | 14,452 | 14,379 |
Derivative liabilities - non current portion | 69 | 288 |
Lease liabilities - non-current portion | 8,815 | 9,197 |
Financial liabilities – current portion | 229 | 2,265 |
Derivative liabilities - current portion | 3 | 129 |
Lease liabilities - current portion | 1,732 | 1,607 |
Trade and other payables | 17,639 | 20,910 |
Other current liabilities | 3,826 | 4,436 |
Total financial liabilities | 14,681 | |
Financial liabilities at carrying value, category | ||
Disclosure of financial instruments [line items] | ||
Financial liabilities – non-current portion | 14,452 | 14,379 |
Derivative liabilities - non current portion | 69 | 288 |
Lease liabilities - non-current portion | 8,815 | 9,197 |
Financial liabilities – current portion | 229 | 2,265 |
Derivative liabilities - current portion | 3 | 129 |
Lease liabilities - current portion | 1,732 | 1,607 |
Trade and other payables | 17,639 | 20,910 |
Other current liabilities | 3,706 | 4,288 |
Total financial liabilities | 46,645 | 53,063 |
Financial liabilities at fair value through profit or loss, category | ||
Disclosure of financial instruments [line items] | ||
Derivative liabilities - non current portion | 69 | 288 |
Derivative liabilities - current portion | 3 | 129 |
Total financial liabilities | 72 | 417 |
Financial liabilities at amortised cost, category | ||
Disclosure of financial instruments [line items] | ||
Financial liabilities – non-current portion | 14,452 | 14,379 |
Lease liabilities - non-current portion | 8,815 | 9,197 |
Financial liabilities – current portion | 229 | 2,265 |
Lease liabilities - current portion | 1,732 | 1,607 |
Trade and other payables | 17,639 | 20,910 |
Other current liabilities | 3,706 | 4,288 |
Total financial liabilities | 46,573 | 52,646 |
Financial liabilities at fair value, class | ||
Disclosure of financial instruments [line items] | ||
Financial liabilities – non-current portion | 14,452 | 14,379 |
Derivative liabilities - non current portion | 69 | 288 |
Lease liabilities - non-current portion | 8,815 | 9,197 |
Financial liabilities – current portion | 229 | 2,265 |
Derivative liabilities - current portion | 3 | 129 |
Lease liabilities - current portion | 1,732 | 1,607 |
Trade and other payables | 17,639 | 20,910 |
Other current liabilities | 3,706 | 4,288 |
Total financial liabilities | 46,645 | 53,063 |
Financial assets at carrying value, category | ||
Disclosure of financial instruments [line items] | ||
Other non-current assets | 1,091 | 1,091 |
Other current financial assets | 516 | 59 |
Trade and other receivables | 14 | 4 |
Other current assets | 6,669 | 4,330 |
Cash and cash equivalents | 46,323 | 44,446 |
Total financial assets | 54,613 | 49,930 |
Financial assets at fair value through profit or loss, category | ||
Disclosure of financial instruments [line items] | ||
Cash and cash equivalents | 46,323 | 44,446 |
Total financial assets | 46,323 | 44,446 |
Financial assets at amortised cost, category | ||
Disclosure of financial instruments [line items] | ||
Other non-current assets | 1,091 | 1,091 |
Other current financial assets | 516 | 59 |
Trade and other receivables | 14 | 4 |
Other current assets | 6,669 | 4,330 |
Total financial assets | 8,290 | 5,484 |
Financial assets at fair value, class | ||
Disclosure of financial instruments [line items] | ||
Other non-current assets | 1,091 | 1,091 |
Other current financial assets | 516 | 59 |
Trade and other receivables | 14 | 4 |
Other current assets | 6,669 | 4,330 |
Cash and cash equivalents | 46,323 | 44,446 |
Total financial assets | € 54,613 | € 49,930 |
Related Parties - Summary of Tr
Related Parties - Summary of Transactions Between Related Parties (Details) - EUR (€) € in Thousands | 6 Months Ended | |
Jun. 30, 2021 | Jun. 30, 2020 | |
Disclosure of transactions between related parties [line items] | ||
Salary / fees | € 1,510 | € 1,379 |
Retirement benefits | 23 | 22 |
Share based payments | 438 | 219 |
Executive officers / VP and qualified person | ||
Disclosure of transactions between related parties [line items] | ||
Salary / fees | 593 | 639 |
Retirement benefits | 11 | 11 |
Share based payments | 254 | 171 |
Executive committee | ||
Disclosure of transactions between related parties [line items] | ||
Salary / fees | 764 | 593 |
Retirement benefits | 12 | 11 |
Share based payments | 183 | 19 |
Board of directors | ||
Disclosure of transactions between related parties [line items] | ||
Salary / fees | 153 | 147 |
Retirement benefits | 0 | 0 |
Share based payments | € 1 | € 29 |
Off-Balance Sheet Commitments (
Off-Balance Sheet Commitments (Details) $ in Thousands | 1 Months Ended |
May 31, 2021USD ($) | |
United States | |
Disclosure of quantitative information about right-of-use assets [line items] | |
Finance sublease, security deposit received | $ 59 |