Idorsia : Financial Report Half Year 2021

Financial

Report

20

21HALF YEAR

The purpose of Idorsia is to discover, develop and commercialize innovative medicines to help more patients.

We have more ideas, we see more opportunities and we want to transform the horizon of therapeutic options.

Contents

4 Financial Review

Unaudited Interim

15 Consolidated Financial Statements

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• Contents Financial Review
  Unaudited Interim Consolidated Financial Statements

3

Financial

Review

Idorsia measures and reports its non-GAAP operating performance, which management believes more accurately reflects the underlying business performance. The Group believes that these non-GAAP financial measurements provide useful supplementary information for investors. These non-GAAP measures are reported in addition to, not as a substitute for,

US GAAP financial performance.

Rounding differences may occur nm = not meaningful

Idorsia's key numbers

Profit and loss

					Six months ended Jun 30,					Second quarter
			US GAAP			Non-GAAP		US GAAP			Non-GAAP
(in CHF millions, except EPS)	2021	2020	2021	2020			2021	2020	2021	2020
Net revenue
Product sales		-	-		-	-			-	-		-	-
Contract revenue - royalties	-	-	-	-			-	-	-	-
Contract revenue - milestones		13	58		13	58			7	53		7	53
Contract revenue - others	0	-	0	-			0	-	0	-
Operating expenses
Research and development		(192)	(197)		(181)	(159)			(94)	(100)		(89)	(69)
Selling, general and administrative	(74)	(40)	(68)	(34)			(42)	(20)	(39)	(17)
Net results
Operating income (loss)		(252)	(178)		(234)	(134)			(130)	(67)		(121)	(33)
Net income (loss)		(243)	(189)		(223)	(138)			(139)	(69)		(128)	(36)
Basic EPS		(1.46)	(1.41)		(1.34)	(1.03)			(0.83)	(0.51)		(0.77)	(0.26)
Diluted EPS	(1.46)	(1.41)	(1.34)	(1.03)			(0.83)	(0.51)	(0.77)	(0.26)

Cash flow					Liquidity and indebtedness
	Six months ended Jun 30,	Second quarter			Jun 30,	Mar 31,	Dec 31,
(in CHF millions)	2021	2020	2021	2020	(in CHF millions)	2021	2021	2020

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Contents

• Financial Review
  Unaudited Interim Consolidated Financial Statements
  5

Cash flow

Operating cash flow	(276)	(150)	(126)	(44)
Cash raise	(0)	323	(0)	323
Capital expenditure	(17)	(4)	(15)	(2)

Shares

	Jun 30,	Mar 31,	Dec 31,
(in millions)	2021	2021	2020
Share count
Issued common shares	167.3	166.9	166.5
Equity derivatives	44.6	44.6	44.6
Equity instruments	8.8	9.1	7.9
Total potential issued shares	220.7	220.6	219.0

Liquidity

Cash and cash equivalents	164	128	141
Short-term deposits	763	741	867
Long-term deposits	-	196	192
Total liquidity	927	1,065	1,200
Indebtedness
Convertible loan	392	390	388
Convertible bonds	199	199	199
Other financial debt	-	-	-
Total indebtedness	592	589	587