未经审计的简明综合中期基本报表
| 资产负债表简式合并中期报告截至 | 2024年9月30日 | 2023年12月31日 | ||||||||||||
| 以瑞士法郎千为单位 | 单张债券 | |||||||||||||
| 资产 | ||||||||||||||
| 资产：固定资产 | 4,598 | 5,681 | ||||||||||||
| 无形资产 | 82 | 212 | ||||||||||||
| 总非流动资产 | 4,680 | 5,893 | ||||||||||||
| 短期定期存款 | 77,866 | 119,580 | ||||||||||||
| 其他资产 | 2,595 | 3,617 | ||||||||||||
| 贸易及其他应收款 | 3,318 | 1,953 | ||||||||||||
| 现金及现金等价物 | 65,752 | 67,309 | ||||||||||||
| 总流动资产 | 149,531 | 192,459 | ||||||||||||
| 总资产 | 154,211 | 198,352 | ||||||||||||
| 股东权益和负债 | ||||||||||||||
| 股本 | 5.3 | 3,669 | 3,635 | |||||||||||
| 额外实收资本 | 368,578 | 365,530 | ||||||||||||
| 库存股份储备 | 5.3 | (981) | (981) | |||||||||||
| 累积亏损 | (232,488) | (191,755) | ||||||||||||
| 股东权益合计 | 138,778 | 176,429 | ||||||||||||
| 租赁负债 | 1,532 | 2,444 | ||||||||||||
| 员工福利 | 5.9 | 3,466 | 5,063 | |||||||||||
| 所有非流动负债 | 4,998 | 7,507 | ||||||||||||
| 交易和其他应付款 | 2,382 | 1,328 | ||||||||||||
| 应计费用 | 6,838 | 7,547 | ||||||||||||
| 合同负债 | 5.2 | — | 4,333 | |||||||||||
| 租赁负债 | 1,215 | 1,208 | ||||||||||||
| 流动负债合计 | 10,435 | 14,416 | ||||||||||||
| 负债合计 | 15,433 | 21,923 | ||||||||||||
| 股东权益及负债总额 | 154,211 | 198,352 | ||||||||||||
请查看附注，这些附注构成了这些未经审计的简明综合中期财务报表的组成部分。
1
截至9月30日的综合损失简明综合中期报表 | 2024 | 2023 | |||||||||
| 以千瑞士法郎计算 | 单张债券 | ||||||||||
| 营业收入及其他收入 | |||||||||||
| 来自研究与发展合作的收入 | 5.1 | 4,970 | 6,006 | ||||||||
| 总收入和其他收入 | 4,970 | 6,006 | |||||||||
| 营业费用 | |||||||||||
| 研发费用 | (38,055) | (35,934) | |||||||||
| 销售，总务及管理费用 | (13,338) | (14,532) | |||||||||
| 营业费用总计 | (51,393) | (50,466) | |||||||||
| 营业结果。 | (46,423) | (44,460) | |||||||||
| 财务收入 | 5.6 | 3,641 | 3,145 | ||||||||
| 财务费用 | 5.6 | (29) | (889) | ||||||||
| 净财务结果 | 3,612 | 2,256 | |||||||||
| 税前收益结果 | (42,811) | (42,204) | |||||||||
| 所得税 | 5.7 | — | — | ||||||||
| 归属股东的净利润 | (42,811) | (42,204) | |||||||||
| 其他全面收益 | |||||||||||
| 不会重新分类为利润或损失的项目 | |||||||||||
| 税后净养老金资产重估 | 5.9 | 2,088 | (841) | ||||||||
| 可能被重新分类到损益的项目 | |||||||||||
| 外币翻译差异 | (10) | (2) | |||||||||
| 其他全面收益，税后 | 2,078 | (843) | |||||||||
| 归属股东的综合收益总额 | (40,733) | (43,047) | |||||||||
| 每股基本和稀释净利润（以瑞士法郎计） | 5.8 | (1.29) | (1.29) | ||||||||
请查看附注，附注是这些未经审计的简明合并中期财务报表的组成部分。
2
| 截至9月30日的3个月的综合损失的简明综合中期报表 | 2024 | 2023 | |||||||||
| 以瑞士法郎千为单位 | 单张债券 | ||||||||||
| 营业收入及其他收入 | |||||||||||
| 来自研发合作的收入 | 5.1 | 681 | 2,541 | ||||||||
| 总收入和其他收入 | 681 | 2,541 | |||||||||
| 营业费用 | |||||||||||
| 研发费用 | (10,864) | (11,607) | |||||||||
| 销售，总务及管理费用 | (4,406) | (4,423) | |||||||||
| 营业费用总计 | (15,270) | (16,030) | |||||||||
| 营业结果。 | (14,589) | (13,489) | |||||||||
| 财务收入 | 5.6 | 718 | 2,061 | ||||||||
| 财务费用 | 5.6 | (2,533) | (11) | ||||||||
| 净财务结果 | (1,815) | 2,050 | |||||||||
| Result before income taxes | (16,404) | (11,439) | |||||||||
| 所得税 | 5.7 | — | — | ||||||||
| 归属股东的净利润 | (16,404) | (11,439) | |||||||||
| 其他全面收益 | |||||||||||
| 不会重新分类为利润或损失的项目 | |||||||||||
| 重新计量后的净养老金责任，税后 | 5.9 | (1,444) | 666 | ||||||||
| 可能被重新分类到损益的项目 | |||||||||||
| 外币翻译差异 | (6) | 2 | |||||||||
| 其他全面收益，税后 | (1,450) | 668 | |||||||||
| 归属股东的综合收益总额 | (17,854) | (10,771) | |||||||||
| 每股基本和摊薄后的净利润（单位：瑞士法郎） | 5.8 | (0.49) | (0.35) | ||||||||
请查看附注，这些附注构成了这些未经审计的简明综合中期财务报表的组成部分。
3
截至9月30日的简明综合中期现金流量表 | 2024 | 2023 | |||||||||
| 以瑞士法郎千为单位 | |||||||||||
| 归属股东的净利润 | (42,811) | (42,204) | |||||||||
| 调整原因： | |||||||||||
| 折旧和摊销 | 1,799 | 1,818 | |||||||||
| 基于股份的补偿成本 | 3,045 | 4,061 | |||||||||
| 员工福利变动 | 491 | 391 | |||||||||
| 财务收入 | (3,641) | (3,145) | |||||||||
| 财务费用 | 29 | 889 | |||||||||
| 营运资金变化： | |||||||||||
| 其他流动资产变动 | 435 | 1,506 | |||||||||
| 交易和其他应收账款的变化 | (1,348) | (730) | |||||||||
| 交易和其他应付款变化 | 1,053 | (53) | |||||||||
| 合同责任的变动 | (4,333) | (4,976) | |||||||||
| 应计费用的净变动 | (709) | (501) | |||||||||
| 营运资本头寸的汇兑损失 | (34) | (35) | |||||||||
| 支付的利息 | (19) | (27) | |||||||||
| 其他财务费用 | (10) | (11) | |||||||||
| 经营活动使用的净现金流量 | (46,053) | (43,017) | |||||||||
| 来自开空期限存款投资的收入 | 222,492 | 251,284 | |||||||||
| 开空期限存款投资 | (180,246) | (228,312) | |||||||||
| 购置固定资产 | (569) | (277) | |||||||||
| 购置无形资产 | (17) | (221) | |||||||||
| 利息收入 | 3,320 | 2,705 | |||||||||
| 投资活动产生的净现金流量 | 44,980 | 25,179 | |||||||||
| 行使期权所得款项，扣除交易费用净额 | 37 | 29 | |||||||||
| 租赁负债支付 | (905) | (898) | |||||||||
| 筹集资金净额 | (868) | (869) | |||||||||
| 现金头寸的交易所汇兑损益 | 384 | (840) | |||||||||
| 现金及现金等价物净减少 | (1,557) | (19,547) | |||||||||
| 现金及现金等价物余额（年初） | 67,309 | 87,946 | |||||||||
截至9月30日的现金及现金等价物 | 65,752 | 68,399 | |||||||||
请查看附注，这些附注构成了这些未经审计的简明综合中期财务报表的组成部分。
4
| 合并简明中期股东权益变动报表 | |||||||||||||||||
| 以瑞士法郎千为单位 | 股本 | 额外的 实收资本 资本 | 国库 股份 预订 | 外币折算差额(2) 损失 | 股东权益合计 | ||||||||||||
| 2023年1月1日 | 3,604 | 360,323 | (981) | (127,780) | 235,166 | ||||||||||||
| 净利润 | — | — | — | (42,204) | (42,204) | ||||||||||||
| 净养老金责任的重新计量 | — | — | — | (841) | (841) | ||||||||||||
| 外币翻译差异 | — | — | — | (2) | (2) | ||||||||||||
| 总综合收益 | — | — | — | (43,047) | (43,047) | ||||||||||||
股份奖励成本 (1) | — | 4,061 | — | — | 4,061 | ||||||||||||
| 股票期权行使，扣除交易成本后 | 29 | — | — | — | 29 | ||||||||||||
| 截至2023年9月30日 | 3,633 | 364,384 | (981) | (170,827) | 196,209 | ||||||||||||
| 截至2024年1月1日 | 3,635 | 365,530 | (981) | (191,755) | 176,429 | ||||||||||||
| 净利润 | — | — | — | (42,811) | (42,811) | ||||||||||||
| 重估净养老金责任 | — | — | — | 2,088 | 2,088 | ||||||||||||
| 外币翻译差异 | — | — | — | (10) | (10) | ||||||||||||
| 总综合收益 | — | — | — | (40,733) | (40,733) | ||||||||||||
股份奖励成本 (1) | — | 3,045 | — | — | 3,045 | ||||||||||||
| 行使股票期权，扣除交易费用 | 34 | 3 | — | — | 37 | ||||||||||||
| 2024年9月30日 | 3,669 | 368,578 | (981) | (232,488) | 138,778 | ||||||||||||
(1) 请参考注释 5.5
请查看附注，附注是这些未经审计的简明合并中期财务报表的组成部分。
5
基本报表简明综合中期财务报告附注
1. 一般信息
Molecular Partners AG（"公司"）及其子公司（统称"Molecular Partners"或"集团"）是一家临床阶段的生物制药公司，专注于开发设计的ANKYRIN重复蛋白（DARPin）候选药物治疗严重疾病，目前主要关注肿瘤学和病毒学。该公司成立于2004年11月22日，注册地位于瑞士苏黎世州苏利根的Wagistrasse 14号。该公司受有限公司法规章和瑞士义务法第620条及随后相关条款的约束，该法规描述了股份有限公司（"Aktiengesellschaften"）的法律要求。
Molecular Partners Inc. is a wholly owned subsidiary of Molecular Partners AG. Molecular Partners Inc. was incorporated in the United States in the State of Delaware on October 8, 2018. Molecular Partners Inc. is based in Cambridge, Massachusetts.
The unaudited condensed consolidated interim financial statements for the three and nine months ended September 30, 2024 were approved for issuance by the Audit and Finance Committee on October 28, 2024.
The Company’s shares are listed on the SIX Swiss Exchange (Ticker: MOLN) since November 5, 2014 and on the Nasdaq Global Select Market (Ticker: MOLN) since June 16, 2021.
2. Basis of Preparation
These unaudited condensed consolidated interim financial statements have been prepared in accordance with IAS 34 Interim Financial Reporting and should be read in conjunction with the Group's last annual consolidated financial statements as at and for the year ended December 31, 2023. They do not include all the information required for a complete set of consolidated financial statements prepared in accordance with IFRS® Accounting Standards ("IFRS") as issued by the IASB. However, selected explanatory notes are included to explain events and transactions that are significant to gain an understanding of the changes in the Group's financial position and performance since the last annual consolidated financial statements as at and for the year ended December 31, 2023.
The accounting policies set forth in the notes to those annual consolidated financial statements have been consistently applied to all periods presented, except as per below.
The condensed consolidated interim financial statements are presented in thousands of Swiss Francs (TCHF), unless stated otherwise.
The business is not subject to any seasonality. Revenues largely depend on the underlying alliance contracts and the achievement of agreed milestones, while expenses are largely affected by the phase of the respective projects, particularly with regard to external research and development expenditures.
Due to rounding, the numbers presented in the financial statements might not precisely equal the accompanying notes.
3. New or Revised IFRS Standards and Interpretations
A number of new or amended standards became applicable for annual periods beginning on or after January 1, 2024. These standards are not expected to have any significant impact on the Group’s accounting policies and did not require any retrospective adjustments.
6
4. Accounting estimates and judgments
The condensed consolidated interim financial statements have been prepared under the historical cost convention. In preparing these condensed consolidated interim financial statements, management made judgments, estimates and assumptions that affect the application of accounting policies and the reported amounts of assets and liabilities, income and expenses. Actual results may differ from these estimates.
5. Other explanatory notes
5.1 Revenue and other group-wide disclosures
On January 5, 2024, the Group announced it entered into a co-development agreement with Orano Med to co-develop 212Pb-based Radio Darpin Therapies (RDT). Under the terms of the co-development agreement, Molecular Partner’s previously disclosed RDT target DLL3 (delta-like ligand 3) will be included in the collaboration with Orano Med. Both companies agree to share the cost of preclinical and clinical development with additional commitments to supply their respective materials.
On December 14, 2021, the Group entered into a License and Collaboration Agreement with Novartis to develop DARPin-conjugated radioligand therapeutic candidates for oncology. The Group is able to recharge Novartis its employee related expenses associated with the research activities. During the nine months ended September 30, 2024, the Group recognized as revenue an amount of TCHF 637 in relation to this recharge (nine months ended September 30, 2023: TCHF 1,030). During the three months ended September 30, 2024, the Group recognized as revenue an amount of TCHF 96 in relation to this recharge (three months ended September 30, 2023: TCHF 352).
As part of the same agreement, the Group received in January 2022 an upfront fee of USD 20 million (CHF 18.6 million). Revenue related to the upfront payment is recognized over time in line with the progress made over the duration of the contractually agreed research plan.
During the nine months ended September 30, 2024, the Group recognized as revenue an amount of TCHF 4,333 (nine months ended September 30, 2023: TCHF 4,976) related to the upfront payment received in January 2022. During the three months ended September 30, 2024, the Group recognized as revenue an amount of TCHF 585 (three months ended September 30, 2023: TCHF 2,189) in relation to the same upfront payment. The full amount of the the upfront payment has now been recognized into revenue as the collaboration activities have come to an end in Q3 2024.
Revenues in the table below are attributable to individual countries and are based on the location of the Group’s collaboration partners.
| Revenues by country | ||||||||
| in TCHF, for the nine months ended September 30 | 2024 | 2023 | ||||||
| Switzerland | 4,970 | 6,006 | ||||||
| Total revenues | 4,970 | 6,006 | ||||||
| Analysis of revenue by major alliance partner | ||||||||
| in TCHF, for the nine months ended September 30 | 2024 | 2023 | ||||||
| Novartis AG, Switzerland | 4,970 | 6,006 | ||||||
| Total revenues | 4,970 | 6,006 | ||||||
7
| Revenues by country | ||||||||
| in TCHF, for the three months ended September 30 | 2024 | 2023 | ||||||
| Switzerland | 681 | 2,541 | ||||||
| Total revenues | 681 | 2,541 | ||||||
| Analysis of revenue by major alliance partner | ||||||||
| in TCHF, for the three months ended September 30 | 2024 | 2023 | ||||||
| Novartis AG, Switzerland | 681 | 2,541 | ||||||
| Total revenues | 681 | 2,541 | ||||||
5.2 Contract liability
The table below presents the movement in the Group's contract liabilities during the nine months ended September 30, 2024:
| in CHF thousands | Contract liability at December 31, 2023 | Recognized as revenue | Contract liability at September 30, 2024 | ||||||||
| Novartis AG, Switzerland | 4,333 | (4,333) | — | ||||||||
| Total | 4,333 | (4,333) | — | ||||||||
5.3 Issuances of equity securities
As of September 30, 2024, as a result of the vesting of Performance Share Units ("PSUs") the outstanding issued share capital of the Company increased to CHF 3,669,404 divided into 36,694,037 fully paid registered shares (inclusive of 3,500,000 treasury shares).
5.4 Dividends
The Group has paid no dividends since its inception and does not anticipate paying dividends in the foreseeable future.
5.5 Share-based compensation
As of September 30, 2024, 178,609 options were outstanding (December 31, 2023: 282,105 options) under all active option plans. As of September 30, 2024, and December 31, 2023 all outstanding options were fully vested.
As of September 30, 2024, a total of 2,354,624 PSUs and 345,798 Restricted Stock Units ("RSUs") were outstanding, of which none were vested (as of December 31, 2023 a total of 1,347,983 PSUs and 182,678 RSUs were outstanding). The changes in the number of share-based awards (options, RSUs and PSUs) outstanding during the nine month period ended September 30, 2024, is as follows:
8
| Share options / PSU/ RSU movements | Total numbers | Weighted average exercise price (CHF) | Options (numbers) | Weighted average exercise price (CHF) | PSU / RSU (numbers) | Weighted average exercise price (CHF) | ||||||||||||||
| Balance outstanding at January 1, 2024 | 1,812,766 | 1.16 | 282,105 | 6.89 | 1,530,661 | 0.10 | ||||||||||||||
| Granted | 1,862,102 | 0.10 | — | — | 1,862,102 | 0.10 | ||||||||||||||
(Performance adjustment)1 | (246,575) | 0.10 | — | — | (246,575) | 0.10 | ||||||||||||||
(Forfeited)2 | (106,527) | 0.10 | — | — | (106,527) | 0.10 | ||||||||||||||
| (Expired) | (102,995) | 6.81 | (102,995) | 6.81 | — | |||||||||||||||
| (Exercised options), vested PSU / RSU | (339,740) | 0.11 | (501) | 6.94 | (339,239) | 0.10 | ||||||||||||||
| Balance outstanding at September 30, 2024 | 2,879,031 | 0.52 | 178,609 | 6.94 | 2,700,422 | 0.10 | ||||||||||||||
1Performance adjustments indicate forfeitures due to non-market performance conditions not achieved
2Forfeited due to service conditions not fulfilled
The share-based compensation costs recognized during the nine months ended September 30, 2024, amounted to TCHF 3,045 (TCHF 4,061 for the nine months ended September 30, 2023). For the three months ended September 30, 2024 the share-based compensation costs amounted to TCHF 1,062 (TCHF 1,001 for the three months ended September 30, 2023).
5.6 Financial income and expense
Financial income
| in CHF thousands, for the nine months ended September 30 | 2024 | 2023 | ||||||
| Interest income on financial assets held at amortized cost | 2,733 | 3,145 | ||||||
| Net foreign exchange gain | 908 | — | ||||||
| Total | 3,641 | 3,145 | ||||||
| in CHF thousands, for the three months ended September 30 | 2024 | 2023 | ||||||
| Interest income on financial assets held at amortized cost | 718 | 1,190 | ||||||
| Net foreign exchange gain | — | 871 | ||||||
| Total | 718 | 2,061 | ||||||
Financial expense
| in CHF thousands, for the nine months ended September 30 | 2024 | 2023 | ||||||
| Net foreign exchange loss | — | (851) | ||||||
| Interest expense on leases | (19) | (26) | ||||||
| Other financial expenses | (10) | (11) | ||||||
| Total | (29) | (889) | ||||||
| in CHF thousands, for the three months ended September 30 | 2024 | 2023 | ||||||
| Net foreign exchange loss | (2,524) | — | ||||||
| Interest expense on leases | (6) | (8) | ||||||
| Other financial expenses | (3) | (3) | ||||||
| Total | (2,533) | (11) | ||||||
9
Exchange results primarily represent unrealized foreign exchange results on the cash and short-term time deposit balances held in USD and in EUR, respectively.
5.7 Income taxes
The Group has in recent years reported operating losses, with the exception of the year ended December 31, 2022, that resulted in a tax loss carry-forward in Switzerland of TCHF 144,483 as of December 31, 2023. No deferred tax assets have been recognized for these tax loss carry forwards, because it is not probable that such loss carry forwards can be utilized in the foreseeable future. In addition, no deferred tax positions were recognized on other deductible temporary differences (e.g. pension liabilities under IAS 19) due to the significant tax loss carry forwards.
5.8 Earnings per share
| for the nine months ended September 30 | 2024 | 2023 | ||||||
| Weighted average number of shares used in computing basic and diluted earnings per share | 33,082,140 | 32,742,492 | ||||||
| for the three months ended September 30 | 2024 | 2023 | ||||||
| Weighted average number of shares used in computing basic and diluted earnings per share | 33,194,037 | 32,836,681 | ||||||
5.9 Other Comprehensive result
In order to recognize remeasurements of the net defined benefit obligation in the period in which they arise, the Group utilizes its independent actuaries to update the calculation of the defined benefit obligation and plan assets at each reporting date. The primary component of the remeasurement as of and for the nine month period ended September 30, 2024, relates to an increase in the funding status of our main pension provider.
5.10 Related parties
The Group did not enter into any related party transactions in the interim periods presented.
5.11 Putative Class Action
On July 12, 2022, a putative class action complaint was filed in the U.S. District Court for the Southern District of New York against the Company, its directors, and certain of its executive officers. On May 23, 2023, an amended complaint was filed. The amended complaint alleged that the defendants violated federal securities laws by, among other things, making misrepresentations and omissions regarding its product candidate MP0310 and an associated licensing agreement. The Company and named individual defendants moved to dismiss the amended complaint on July 24, 2023. On February 5, 2024, the court dismissed the amended complaint without prejudice. On February 29, 2024, the court ordered the case closed.
5.12 Events after the balance sheet date
On October 25, 2024, the Company announced the pricing of an underwritten offering in the United States of 3,642,988 American Depositary Shares (“ADSs”) representing 3,642,988 ordinary shares at an offering price of $5.49 per ADS, for total gross proceeds of approximately $20.0 million (CHF 17.3 million).
10
No other events occurred between the balance sheet date and the date on which these condensed consolidated interim financial statements were approved for issuance by the Audit and Finance Committee that would require adjustment to these condensed consolidated interim financial statements or disclosure under this section.
11