Idorsia : Financial Report Nine-Month 2021

Financial

Report

20

21NINE-MONTH

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

16 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

					Nine months ended Sep 30,						Third 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		30	66		30	66		17	8		17	8
Contract revenue - others	0	-	0	-	(0)	-	(0)	-
Operating expenses
Research and development		(288)	(290)		(270)	(246)		(96)	(93)		(89)	(87)
Selling, general and administrative		(127)	(64)		(118)	(56)		(54)	(25)		(51)	(22)
Net results
Operating income (loss)		(385)	(288)		(357)	(236)		(133)	(110)		(123)	(102)
Net income (loss)		(383)	(308)		(347)	(245)		(140)	(118)		(124)	(107)
Basic EPS		(2.29)	(2.25)		(2.08)	(1.79)		(0.83)	(0.83)		(0.74)	(0.75)
Diluted EPS	(2.29)	(2.25)	(2.08)	(1.79)	(0.83)	(0.83)	(0.74)	(0.75)

Cash flow						Liquidity and indebtedness
	Nine months ended Sep 30,	Third quarter			Sep 30,	Jun 30,	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	(392)	(241)	(116)	(92)
Cash raise	595	323	595	(0)
Capital expenditure	(23)	(6)	(6)	(2)

Shares

	Sep 30,	Jun 30,	Dec 31,
(in millions)	2021	2021	2020
Share count
Issued common shares	167.4	167.3	166.5
Equity derivatives	63.6	44.6	44.6
Equity instruments	8.8	8.8	7.9
Total potential issued shares	239.8	220.7	219.0

Liquidity

Cash and cash equivalents	122	164	141
Short-term deposits	1,117	763	867
Long-term deposits	160	-	192
Total liquidity	1,399	927	1,200
Indebtedness
Convertible loan	394	392	388
Convertible bonds	794	199	199
Other financial debt	-	-	-
Total indebtedness	1,188	592	587