Advicenne : September 28, 2020 - Annexe IFRS 2018

Individual financial statements in accordance with IFRS for the

financial year ended 31 December 2018

Statement of financial position

ASSETS (€ thousands)	Notes	Decembre 31,	Decembre 31,
2018	2017
Intangible assets
7-1-1	3	3
Property, plant and equipment	7-1-2	242	214
Other financial assets	7-1-3	9	9
Non-current assets		254	226
Inventories and work in progress
7-1-4	308	163
Trade receivables	7-1-5	3 336	223
Tax receivables	7-1-6	843	886
Other current assets	7-1-3	1 695	553
Financial assets	7-1-7	170	300
Cash and cash equivalents	7-1-7	26 232	36 183
Current assets		32 585	38 308
Total assets		32 839	38 533
LIABILITIES (€ thousands)	Notes	Decembre 31,	Decembre 31,
2018	2017
Share capital
7-1-8	1 612	1 601
Additional paid-in capital		52 626	51 895
Reserves		-19 830	-13 937
Net loss		-5 015	-6 048
Total shareholders' equity		29 394	33 511
Borrowings and financial debt
7-1-11	172	454
Provisions	7-1-9 / 10	148	106
Non-current liabilities		321	560
Borrowings and financial debt
7-1-11	248	248
Trade payables	7-1-12	1 569	1 314
Other current liabilities	7-1-12	1 306	2 901
Current liabilities		3 123	4 463
Total liabilities		32 839	38 533

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This is a free translation into English of the 2018 IFRS annexe issued in the French language and is provided solely for the convenience of English-speaking readers. In case of discrepancy, the French version prevails.

Income statement and statement of comprehensive income

INCOME STATEMENT (€ thousands)			Notes	Decembre 31,	Decembre 31,
		2018	2017
Revenue
		8-2-1	963	557
Income from partnerships			5 000	1 091
Other operating income			8-2-2	961	924
Total revenue and other income					2 572
		6 924
Cost of goods sold					-314
		-474
Research and development expenses			8-2-3	-7 218	-4 955
Sales and marketing expenses			8-2-3	-2 220	-1 496
Overhead and general expenses			8-2-3	-2 304	-1 781
Operating loss				-5 292	-5 974
Net financial costs
		8-2-4	-10	-69
Other financial expenses				-4
Other financial income			8-2-4	287	-
Résultat avant impôt				-5 015	-6 048
Impôts sur les bénéfices
		8-2-5	-	-
Net loss				-5 015	-6 048
Loss per share (€/share)			8-2-6	-0,62	-1,01
Diluted loss per share (€/share)			8-2-6	-0,62	-1,01
OTHER COMPREHENSIVE INCOME (€ thousands)			Notes	Decembre 31,	Decembre 31,
	2018	2017
Net Loss			-5 015	-6 048
Revaluation of pension plan liabilities				-4
		-16
Tax effect
Other comprehensive loss not recyclable through profit and loss		-16	-4
Comprehensive loss				-5 031	-6 052

1. Revenues from partnerships were previously reported under Other Operating Income; The have been put on a separate line in order to be comparable to the 2018 presentation

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This is a free translation into English of the 2018 IFRS annexe issued in the French language and is provided solely for the convenience of English-speaking readers. In case of discrepancy, the French version prevails.

Statement of changes in shareholders' equity

CHANGE IN SHAREHOLDERS' EQUITY (€	Capital	Primes liées au	Réserves	Capitaux
thousands)	capital	propres
Situation au 31 décembre 2016	774	8 829	-14 755	-5 151
Loss from the period			-6 048	-6 048
Other comprehensive income, after taxes			-4	-4
Comprehensive loss	-	-	-6 052	-6 052
Capital increase	826	43 065		43 891
Share-based payments			822	822
Position as of 31 December 2017	1 601	51 894	-19 984	33 511
Loss from the period			-5 015	-5 015
Other comprehensive income, after taxes			-16	-16
Comprehensive loss	-	-	-5 031	-5 031
Share-based payments	12	732		744
Acquisition or sale of treasury shares			-330	-330
Share-based payments			500	500
Position as of 31 December 2018	1 612	52 626	-24 845	29 394

The capital increase of €744 thousand in 2018 corresponds to the over-allotment option

The acquisition of treasury shares for €330 thousand in 2018 results from the implementation of the liquidity contract.

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This is a free translation into English of the 2018 IFRS annexe issued in the French language and is provided solely for the convenience of English-speaking readers. In case of discrepancy, the French version prevails.

Cash flow statement

CASH FLOW (€ thousands)	Decembre 31,	Decembre 31,
2018	2017
Net loss	-5 015	-6 048
Amortisation, depreciation and provisions	131	186
Share-based payments	500	822
Other calculated income and expenses	-111	-62
Net financial costs	10	69
Self-financing capacity	-4 484	-5 032
Changes in inventory	-145	129
Changes in trade receivables and other receivables	-4 213	-569
Changes in trade payables and other payables	-1 339	-328
Cash flow from operations	-10 181	-5 801
Acquisition of property, plant and equipment and intangible assets	-142	-35
Acquisition of treasury shares	-330
Acquisition of financial assets	130	-303
Cash flow from investing activities	-342	-338
Capital increase	744	40 830
New borrowings and refundable advances	-	500
Repayment of borrowings and refundable advances	-172	-521
Interest received (paid)		-69
Cash flow from financing activities	571	40 739
Change in cash	-9 951	34 600
Opening cash	36 183	1 583
Closing cash	26 232	36 183

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This is a free translation into English of the 2018 IFRS annexe issued in the French language and is provided solely for the convenience of English-speaking readers. In case of discrepancy, the French version prevails.