First Half 2025 Financial Update
- Total revenues were €97.6 million compared to €70.8 million for the first half of 2024, an increase of 37.8%
- Product sales reached €91.0 million compared to €68.3 million in the first half of 2024, an increase of 33.3%
- Net loss of €20.8 million compared to a net profit of €34.0 million in the first half of 2024, which included one-time net proceeds of €90.8 million from the sale of a Priority Review Voucher (PRV)1
- Significant reduction in operating cash burn (€10.9 million in the first half of 2025 compared to €66.3 million in the first half of 2024)
- Cash and cash equivalents were €161.3 million as at June 30, 2025, compared to
€168.3 million as at December 31, 2024- Cash at June 30, 2025 included €20.1 million of net proceeds from two At The Market (ATM) transactions with leading U.S. institutional healthcare investors Novo Holdings A/S and Frazier Life Sciences in Q2 20252