ObsEva : Q2 Half Year Report 2021

Half-Year report 2021

Interim Condensed Consolidated IFRS

Financial Statements for the three-month and six-month periods ended June 30, 2021

(unaudited)

ObsEva SA

Interim Condensed Consolidated IFRS Financial Statements for the three-month and six-month periods ended June 30, 2021

Unaudited Condensed Consolidated Balance Sheets

						June 30,				December 31,
(in USD '000)	Notes	2021			2020
ASSETS
Current assets
Cash and cash equivalents	4				58,923					31,183
Other receivables					458					397
Prepaid expenses					8,010					5,388
Total current assets					67,391					36,968
Non-current assets
Right-of-use assets					834					1,425
Furniture, fixtures and equipment					65					151
Intangible assets	5				26,608					26,608
Other long-term assets					284					295
Total non-current assets					27,791					28,479
Total assets					95,182					65,447
LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities
Other payables and current liabilities					7,515					10,760
Accrued expenses					10,312					10,248
Current lease liabilities					694					696
Total current liabilities					18,521					21,704
Non-current liabilities
Non-current lease liabilities					567					952
Non-current borrowings	6				25,519					25,300
Post-employment obligations					8,074					8,218
Other long-term liabilities					877					919
Total non-current liabilities					35,037					35,389
Shareholders' equity
Share capital					6,948					4,878
Treasury shares					(630	)			(304	)
Share premium					424,567					356,822
Reserves					29,282					26,353
Accumulated losses					(418,543	)			(379,395	)
Total shareholders' equity	7				41,624					8,354
Total liabilities and shareholders' equity					95,182					65,447

The accompanying notes form an integral part of these unaudited condensed consolidated financial statements.

ObsEva SA - Half-Year Report 2021

ObsEva SA

Interim Condensed Consolidated IFRS Financial Statements for the three-month and six-month periods ended June 30, 2021

Unaudited Condensed Consolidated Statements of Comprehensive Loss

				Three-month period			Six-month period
(in USD '000, except per share data)				ended June 30,			ended June 30,
	Notes	2021			2020		2021			2020
Operating income other than revenue			4				4			10					8
OPERATING EXPENSES
Research and development expenses	8		(14,485	)		(15,377	)		(30,001	)			(32,565	)
General and administrative expenses			(3,888	)		(2,191	)		(8,079	)			(5,900	)
Total operating expenses			(18,373	)		(17,568	)		(38,080	)			(38,465	)
OPERATING LOSS			(18,369	)		(17,564	)		(38,070	)			(38,457	)
Finance income			(55	)		48			574					108
Finance expense			(690	)		(690	)		(1,601	)			(1,701	)
NET LOSS BEFORE TAX			(19,114	)		(18,206	)		(39,097	)			(40,050	)
Income tax (expense) / benefit	9		(30	)		38			(51	)			19
NET LOSS FOR THE PERIOD			(19,144	)		(18,168	)		(39,148	)			(40,031	)

Net loss per share
Basic	10	(0.25)	(0.38)	(0.54)	(0.86)
Diluted	10	(0.25)	(0.38)	(0.54)	(0.86)
OTHER COMPREHENSIVE LOSS
Items that will not be reclassified to profit and loss
Remeasurements on post-employment benefit plans		-	-	-	-
Items that may be reclassified to profit or loss
Currency translation differences		-	-	-	-
TOTAL OTHER COMPREHENSIVE LOSS		-	-	-	-
TOTAL COMPREHENSIVE LOSS FOR THE PERIOD		(19,143)	(18,168)	(39,148)	(40,031)

The accompanying notes form an integral part of these unaudited condensed consolidated financial statements.

ObsEva SA - Half-Year Report 2021

ObsEva SA

Interim Condensed Consolidated IFRS Financial Statements for the three-month and six-month periods ended June 30, 2021

Unaudited Condensed Consolidated Statements of Cash Flows

						Six-month period
						ended June 30,
(in USD '000)	Notes	2021				2020
NET LOSS BEFORE TAX FOR THE PERIOD					(39,097	)			(40,050	)
Adjustments for:
Depreciation and impairment expense					505				362
Post-employment cost / (benefit)					229				(9	)
Share-based compensation expense					2,929				4,184
Income tax paid						-				(21	)
Finance result, net					1,027				1,592
Decrease in other receivables					160				431
Increase in prepaid expenses and other long term-assets					(2,621	)			(746	)
(Decrease) / increase in other payables and current liabilities					(3,300	)			3,568
Increase / (decrease) in accrued expenses and other long-term liabilities					64				(3,230	)
NET CASH FLOWS USED IN OPERATING ACTIVITIES						(40,104	)			(33,919	)
Payments for plant and equipment					(10	)			-
NET CASH FLOWS USED IN INVESTING ACTIVITIES						(10	)			-
Proceeds from issue of shares					48,960				11,247
Payment of share issuance costs					(1,674	)			(347	)
Proceeds from exercise of warrants					22,117				-
Principal elements of lease payments					(337	)			(303	)
Interest paid					(1,127	)			(965	)
NET CASH FLOWS FROM FINANCING ACTIVITIES						67,939				9,632
Net increase / (decrease) in cash and cash equivalents					27,825				(24,287	)
Cash and cash equivalents as at January 1,					31,183				69,370
Effects of exchange rate changes on cash and cash equivalents					(85	)			(118	)
Cash and cash equivalents as at June 30,					58,923				44,965

The accompanying notes form an integral part of these unaudited condensed consolidated financial statements.

ObsEva SA - Half-Year Report 2021