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Drug manufacturers · Healthcare · Fiscal year ends Dec 31 · Reports in EUR
Net income was −EUR 336M. Operating cash flow of −EUR 161M less capital expenditure of EUR 142,000 left free cash flow of −EUR 161M.
Last 5 fiscal years
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Research & development | 47.8 | 48.3 | 103 | 147 | 178 |
| Operating income | −41.4 | −64.8 | −127 | −173 | −246 |
| Interest expense | 3.6 | 7.0 | 27.9 | 17.0 | 112 |
| Pre-tax income | −42.5 | −60.7 | −148 | −176 | −330 |
| Income tax | 0.0 | 0.0 | 0.0 | 0.0 | 5.8 |
| Net income | −42.5 | −60.7 | −148 | −176 | −336 |
| Diluted EPS | −2.75 | −3.18 | −3.43 | −2.80 | −4.83 |
| Diluted shares | 15.5 | 19.1 | 43.1 | 63.0 | 69.5 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Cash & equivalents | 60.7 | 27.0 | 252 | 144 | 517 |
| Current assets | 75.5 | 36.2 | 286 | 171 | 551 |
| Goodwill | 32.0 | 18.4 | 18.4 | 18.4 | 18.4 |
| Total assets | 109 | 75.5 | 327 | 205 | 584 |
| Payables | 18.6 | 15.5 | 47.2 | 43.8 | 37.6 |
| Current liabilities | 32.3 | 51.5 | 90.7 | 94.0 | 63.0 |
| Total liabilities | 83.3 | 68.4 | 131 | 165 | 129 |
| Shareholders' equity | 25.9 | 7.2 | 196 | 40.6 | 455 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Operating cash flow | −45.0 | −53.9 | −97.1 | −154 | −161 |
| Capital expenditure | 0.0 | 0.3 | 0.3 | 0.6 | 0.1 |
| Free cash flow | −45.1 | −54.2 | −97.4 | −155 | −161 |
| Depreciation & amortisation | 0.3 | 0.5 | 0.7 | 1.1 | 1.1 |
| Stock-based compensation | 0.8 | −1.2 | 8.2 | 20.2 | 35.4 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Return on equityBlank when equity is negative | −163.7% | −844.9% | −75.4% | −434.3% | −73.8% |
| ROCEEBIT ÷ (assets − current liabilities) | −53.8% | −269.3% | −53.9% | −155.5% | −47.2% |
| Cash conversion (CFO ÷ net income) | 1.06x | 0.89x | 0.66x | 0.87x | 0.48x |
| Interest cover | −11.6x | −9.23x | −4.57x | −10.2x | −2.20x |
| Current ratio | 2.34x | 0.70x | 3.15x | 1.82x | 8.75x |
Standardised figures from the company's XBRL filings with the SEC (10-K, 10-Q). Line items follow US GAAP tags, so a company's own statement layout may differ and some lines show “–” where the company does not report that item. Ratios are calculated from these figures. For education only; not investment advice or a recommendation.