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Capital Structure, Financial Risk and Related Items (Tables) | 12 Months Ended
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Dec. 31, 2021
Capital Structure, Financial Risk and Related Items |
Schedule of total marketable securities by currency | ​
​ | ​ | ​ | ​ | ​ | ​
​ |  | December 31, | ​ | December 31, | ​
​ | ​ | 2021 | ​ | 2020 | ​
Percent | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​
USD |  | 75 | % | 70 | %
DKK | ​ | 16 | % | 19 | %
EUR | ​ | 8 | % | 10 | %
GBP |  | 1 | % | 1 | %
Total |  | 100 | % | 100 | %
Schedule of impact of exchange rate on our net result before tax | ​
​ | ​ | ​
​ | Percentage change | Impact of change
(DKK million) | in exchange rate* | in exchange rate**
2021 | ​ | ​
EUR | 1% | 9
USD | 10% | 1,487
GBP | 10% | (2)
2020 | ​ | ​
EUR | 1% | 8
USD | 10% | 1,480
GBP | 10% | 1
* The analysis assumes that all other variables, in particular interest rates, remain constant. ** The movements in the income statement and equity arise from monetary items (cash, marketable securities, receivables and liabilities) where the functional currency of the entity differs from the currency that the monetary items are denominated in.
Schedule of maturity profile of our marketable securities | ​
​ | ​ | ​ | ​ | ​
(DKK million) | ​ | 2021 | ​ | 2020
​ | ​ | ​ | ​ | ​
Year of Maturity | ​ | ​ | ​ | ​
2021 | ​ | - | ​ | 6,195
2022 | ​ | 3,372 | ​ | 1,296
2023 | ​ | 3,041 | ​ | 314
2024 | ​ | 2,654 | ​ | 98
2025 | ​ | 448 | ​ | 87
2026+ | ​ | 866 | ​ | 829
Total | ​ | 10,381 | ​ | 8,819
Schedule of Financial Assets | ​
​ | ​ | ​ | ​
​ | ​ | ​ | ​
(DKK million) | Note | 2021 | 2020
Financial assets measured at fair value through profit or loss | ​ | ​ | ​
Marketable securities | 4.4 | 10,381 | 8,819
Other investments | 3.4 | 371 | 1,081
Financial assets measured at amortized cost | ​ | ​ | ​
Receivables excluding prepayments | 3.5 | 3,176 | 2,329
Cash and cash equivalents | ​ | 8,957 | 7,260
Financial liabilities measured at amortized cost: | ​ | ​ | ​
Other payables | 3.8 | (1,480) | (1,186)
Lease liabilities | 3.3 | (425) | (319)
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | 2021 | 2020
(DKK million) | Note | Level 1 | Level 2 | Level 3 | Total | Level 1 | Level 2 | Level 3 | Total
Assets Measured at Fair Value | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Marketable securities | 4.4 | 10,381 | - | - | 10,381 | 8,819 | - | - | 8,819
Other investments | 3.4 | 344 | - | 27 | 371 | 1,067 | - | 14 | 1,081
Schedule of level 3 reconciliation of assets | ​
​ | ​
(DKK million) | Other Investments
Fair value at December 31, 2019 | 149
Transfer to Level 1 | (149)
Acquisitions | 14
Fair value at December 31, 2020 | 14
Acquisitions | 13
Fair value at December 31, 2021 | 27
Schedule of portfolio of marketable securities | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Market value | Share | ​ | Market value | Share
​ | ​ | 2021 | % | ​ | 2020 | %
(DKK million) | ​ | ​ | ​ | ​ | ​ | ​
USD portfolio | ​ | ​ | ​ | ​ | ​ | ​
Corporate bonds | ​ | 5,149 | 50% | ​ | - | -
US government bonds and treasury bills | ​ | 1,496 | 14% | ​ | 6,193 | 70%
Commercial paper | ​ | 528 | 5% | ​ | - | -
Other | ​ | 608 | 6% | ​ | - | -
Total USD portfolio | ​ | 7,781 | 75% | ​ | 6,193 | 70%
​ | ​ | ​ | ​ | ​ | ​ | ​
DKK portfolio | ​ | ​ | ​ | ​ | ​ | ​
Kingdom of Denmark bonds and treasury bills | ​ | 460 | 4% | ​ | 462 | 5%
Danish mortgage-backed securities | ​ | 1,203 | 12% | ​ | 1,230 | 14%
Total DKK portfolio | ​ | 1,663 | 16% | ​ | 1,692 | 19%
​ | ​ | ​ | ​ | ​ | ​ | ​
EUR portfolio | ​ | ​ | ​ | ​ | ​ | ​
European government bonds and treasury bills | ​ | 856 | 8% | ​ | 863 | 10%
​ | ​ | ​ | ​ | ​ | ​ | ​
GBP portfolio | ​ | ​ | ​ | ​ | ​ | ​
UK government bonds and treasury bills | ​ | 81 | 1% | ​ | 71 | 1%
​ | ​ | ​ | ​ | ​ | ​ | ​
Total portfolio | ​ | 10,381 | 100% | ​ | 8,819 | 100%
​ | ​ | ​ | ​ | ​ | ​ | ​
Marketable securities | ​ | 10,381 | ​ | ​ | 8,819 | ​
Schedule of finance income and expenses | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
(DKK million) | ​ | 2021 | ​ | 2020 | ​ | 2019
Financial income: | ​ | ​ | ​ | ​ | ​ | ​
Interest and other financial income | ​ | 197 | ​ | 184 | ​ | 120
Gain on marketable securities, net | ​ | - | ​ | - | ​ | 9
Gain on other investments, net | ​ | - | ​ | 965 | ​ | -
Foreign exchange rate gain, net | ​ | 1,470 | ​ | - | ​ | 99
​ | ​ | ​ | ​ | ​ | ​ | ​
Total financial income | ​ | 1,667 | ​ | 1,149 | ​ | 228
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
Financial expenses: | ​ | ​ | ​ | ​ | ​ | ​
Interest and other financial expenses | ​ | (13) | ​ | (10) | ​ | (7)
Loss on marketable securities, net | ​ | (246) | ​ | (92) | ​ | -
Loss on other investments, net | ​ | (443) | ​ | - | ​ | -
Foreign exchange rate loss, net | ​ | - | ​ | (1,456) | ​ | -
​ | ​ | ​ | ​ | ​ | ​ | ​
Total financial expenses | ​ | (702) | ​ | (1,558) | ​ | (7)
​ | ​ | ​ | ​ | ​ | ​ | ​
Net financial items | ​ | 965 | ​ | (409) | ​ | 221
​ | ​ | ​ | ​ | ​ | ​ | ​
Interest and other financial income on financial assets measured at amortized cost related to bank deposits | ​ | 1 | ​ | 7 | ​ | 22
​ | ​ | ​ | ​ | ​ | ​ | ​
Interest and other financial expenses on financial liabilities measured at amortized cost related to bank deposits | ​ | - | ​ | (1) | ​ | -
Summary of RSUs activity | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | Number of RSUs held by the Board of Directors | ​ | Number of RSUs held by the Executive Management | ​ | Number of RSUs held by employees | ​ | Number of RSUs held by former members of the Executive Management, Board of Directors and employees | ​ | Total RSUs
Outstanding at January 1, 2019 | ​ | ​ | 20,127 | ​ | 66,152 | ​ | 130,046 | ​ | 2,577 | ​ | 218,902
Granted* | ​ | ​ | 3,708 | ​ | 25,793 | ​ | 87,168 | ​ | 73 | ​ | 116,742
Settled | ​ | ​ | (2,631) | ​ | (19,080) | ​ | - | ​ | (478) | ​ | (22,189)
Transferred | ​ | ​ | (1,251) | ​ | - | ​ | (8,355) | ​ | 9,606 | ​ | -
Cancelled | ​ | ​ | - | ​ | - | ​ | - | ​ | (5,548) | ​ | (5,548)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Outstanding at December 31, 2019 | ​ | ​ | 19,953 | ​ | 72,865 | ​ | 208,859 | ​ | 6,230 | ​ | 307,907
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Outstanding at January 1, 2020 | ​ | ​ | 19,953 | ​ | 72,865 | ​ | 208,859 | ​ | 6,230 | ​ | 307,907
Granted* | ​ | ​ | 2,929 | ​ | 9,032 | ​ | 34,431 | ​ | 130 | ​ | 46,522
Settled | ​ | ​ | (6,470) | ​ | (12,253) | ​ | (22,196) | ​ | (5,936) | ​ | (46,855)
Transferred | ​ | ​ | (2,822) | ​ | (2,334) | ​ | (22,762) | ​ | 27,918 | ​ | -
Cancelled | ​ | ​ | (1,025) | ​ | (1,128) | ​ | (958) | ​ | (10,535) | ​ | (13,646)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Outstanding at December 31, 2020 | ​ | ​ | 12,565 | ​ | 66,182 | ​ | 197,374 | ​ | 17,807 | ​ | 293,928
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Outstanding at January 1, 2021 | ​ | ​ | 12,565 | ​ | 66,182 | ​ | 197,374 | ​ | 17,807 | ​ | 293,928
Granted* | ​ | ​ | 3,297 | ​ | 31,417 | ​ | 146,684 | ​ | 4,817 | ​ | 186,215
Settled | ​ | ​ | (3,556) | ​ | (14,089) | ​ | (35,962) | ​ | (9,967) | ​ | (63,574)
Transferred | ​ | ​ | (688) | ​ | 5,533 | ​ | (14,810) | ​ | 9,965 | ​ | -
Cancelled | ​ | ​ | (653) | ​ | - | ​ | (255) | ​ | (9,670) | ​ | (10,578)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Outstanding at December 31, 2021 | ​ | ​ | 10,965 | ​ | 89,043 | ​ | 293,031 | ​ | 12,952 | ​ | 405,991
Summary of warrants activity | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Number of warrants held by the Board of Directors | ​ | Number of warrants held by the Executive Management | ​ | Number of warrants held by employees | ​ | Number of warrants held by former members of the Executive Management, Board of Directors and employees | ​ | Total warrants | ​ | Weighted average exercise price
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Outstanding at January 1, 2019 | ​ | 74,478 | ​ | 480,201 | ​ | 706,088 | ​ | 162,443 | ​ | 1,423,210 | ​ | 592.14
Granted* | ​ | 3,925 | ​ | - | ​ | 303,066 | ​ | 228 | ​ | 307,219 | ​ | 1,483.58
Exercised | ​ | (15,750) | ​ | (132,400) | ​ | (56,237) | ​ | (95,044) | ​ | (299,431) | ​ | 212.23
Expired | ​ | - | ​ | - | ​ | - | ​ | (2,000) | ​ | (2,000) | ​ | 129.75
Cancelled | ​ | - | ​ | - | ​ | - | ​ | (15,374) | ​ | (15,374) | ​ | 1,049.34
Transfers | ​ | (319) | ​ | - | ​ | (93,944) | ​ | 94,263 | ​ | - | ​ | -
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Outstanding at December 31, 2019 | ​ | 62,334 | ​ | 347,801 | ​ | 858,973 | ​ | 144,516 | ​ | 1,413,624 | ​ | 862.03
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Exercisable at year end | ​ | 50,227 | ​ | 230,233 | ​ | 225,855 | ​ | 131,933 | ​ | 638,248 | ​ | 407.89
Exercisable warrants in the money at year end | ​ | 50,227 | ​ | 227,733 | ​ | 219,403 | ​ | 129,698 | ​ | 627,061 | ​ | 385.84
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Outstanding at January 1, 2020 | ​ | 62,334 | ​ | 347,801 | ​ | 858,973 | ​ | 144,516 | ​ | 1,413,624 | ​ | 862.03
Granted* | ​ | - | ​ | 7,771 | ​ | 110,041 | ​ | 416 | ​ | 118,228 | ​ | 2,009.79
Exercised | ​ | (24,438) | ​ | - | ​ | (122,015) | ​ | (324,793) | ​ | (471,246) | ​ | 296.77
Expired | ​ | - | ​ | - | ​ | - | ​ | - | ​ | - | ​ | -
Cancelled | ​ | - | ​ | (28,424) | ​ | (589) | ​ | (43,125) | ​ | (72,138) | ​ | 1,157.54
Transfers | ​ | (25,955) | ​ | (186,333) | ​ | (113,833) | ​ | 326,121 | ​ | - | ​ | -
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Outstanding at December 31, 2020 | ​ | 11,941 | ​ | 140,815 | ​ | 732,577 | ​ | 103,135 | ​ | 988,468 | ​ | 1,247.22
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Exercisable at year end | ​ | 4,192 | ​ | 83,426 | ​ | 166,402 | ​ | 92,696 | ​ | 346,716 | ​ | 935.60
Exercisable warrants in the money at year end | ​ | 4,192 | ​ | 83,426 | ​ | 166,402 | ​ | 92,696 | ​ | 346,716 | ​ | 935.60
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Outstanding at January 1, 2021 | ​ | 11,941 | ​ | 140,815 | ​ | 732,577 | ​ | 103,135 | ​ | 988,468 | ​ | 1,247.22
Granted* | ​ | 1,217 | ​ | 1,287 | ​ | 167,080 | ​ | 6,400 | ​ | 175,984 | ​ | 2,282.35
Exercised | ​ | (2,500) | ​ | (7,250) | ​ | (105,726) | ​ | (57,232) | ​ | (172,708) | ​ | 780.48
Expired | ​ | - | ​ | - | ​ | - | ​ | - | ​ | - | ​ | -
Cancelled | ​ | - | ​ | - | ​ | (477) | ​ | (22,816) | ​ | (23,293) | ​ | 1,956.91
Transfers | ​ | - | ​ | 24,782 | ​ | (54,454) | ​ | 29,672 | ​ | - | ​ | -
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Outstanding at December 31, 2021 | ​ | 10,658 | ​ | 159,634 | ​ | 739,000 | ​ | 59,159 | ​ | 968,451 | ​ | 1,501.49
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Exercisable at year end | ​ | 6,594 | ​ | 135,723 | ​ | 219,386 | ​ | 50,021 | ​ | 411,724 | ​ | 1,058.41
Exercisable warrants in the money at year end | ​ | 6,594 | ​ | 135,723 | ​ | 219,386 | ​ | 50,021 | ​ | 411,724 | ​ | 1,058.41
Schedule of Weighted Average Exercise Prices Of Warrants | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Exercise price | ​ | Grant Date | ​ | Number of warrants outstanding | ​ | Weighted average remaining contractual life (in years) | ​ | Number of warrants exercisable
DKK | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
466.20 | ​ | March 26, 2015 | ​ | 600 | ​ | 0.24 | ​ | 600
623.50 | ​ | June 11, 2015 | ​ | 650 | ​ | 0.45 | ​ | 650
636.50 | ​ | October 7, 2015 | ​ | 7,700 | ​ | 0.77 | ​ | 7,700
815.50 | ​ | March 17, 2016 | ​ | 5,301 | ​ | 1.21 | ​ | 5,301
939.50 | ​ | December 10, 2015 | ​ | 20,612 | ​ | 0.94 | ​ | 20,612
962.00 | ​ | June 7, 2018 | ​ | 6,527 | ​ | 3.44 | ​ | 6,527
1,025.00 | ​ | December 10, 2018 | ​ | 169,565 | ​ | 3.94 | ​ | 169,565
1,032.00 | ​ | December 15, 2017 | ​ | 79,771 | ​ | 2.96 | ​ | 79,771
1,050.00 | ​ | September 21, 2018 | ​ | 16,806 | ​ | 3.73 | ​ | 16,806
1,136.00 | ​ | October 6, 2016 | ​ | 10,424 | ​ | 1.77 | ​ | 10,424
1,145.00 | ​ | December 15, 2016 | ​ | 53,374 | ​ | 1.96 | ​ | 53,374
1,147.50 | ​ | June 6, 2019 | ​ | 17,209 | ​ | 4.43 | ​ | -
1,155.00 | ​ | March 29, 2019 | ​ | 7,662 | ​ | 4.25 | ​ | -
1,161.00 | ​ | March 1, 2019 | ​ | 19,028 | ​ | 4.17 | ​ | -
1,210.00 | ​ | April 10, 2018 | ​ | 10,189 | ​ | 3.28 | ​ | 10,189
1,233.00 | ​ | June 9, 2016 | ​ | 9,030 | ​ | 1.44 | ​ | 9,030
1,334.50 | ​ | October 11, 2019 | ​ | 52,223 | ​ | 4.78 | ​ | -
1,362.50 | ​ | March 26, 2020 | ​ | 32,054 | ​ | 5.24 | ​ | -
1,402.00 | ​ | March 28, 2017 | ​ | 7,110 | ​ | 2.24 | ​ | 7,110
1,408.00 | ​ | June 8, 2017 | ​ | 1,274 | ​ | 2.44 | ​ | 1,274
1,424.00 | ​ | February 10, 2017 | ​ | 946 | ​ | 2.11 | ​ | 946
1,427.00 | ​ | March 29, 2017 | ​ | 8,400 | ​ | 2.25 | ​ | 8,400
1,432.00 | ​ | October 5, 2017 | ​ | 3,445 | ​ | 2.76 | ​ | 3,445
1,615.00 | ​ | December 5, 2019 | ​ | 183,240 | ​ | 4.93 | ​ | -
1,948.00 | ​ | June 3, 2020 | ​ | 14,898 | ​ | 5.43 | ​ | -
2,070.00 | ​ | February 26, 2021 | ​ | 96,840 | ​ | 6.16 | ​ | -
2,148.00 | ​ | April 13, 2021 | ​ | 16,880 | ​ | 6.29 | ​ | -
2,317.00 | ​ | October 7, 2020 | ​ | 36,949 | ​ | 5.77 | ​ | -
2,381.00 | ​ | December 15, 2020 | ​ | 23,761 | ​ | 5.96 | ​ | -
2,492.00 | ​ | January 28, 2021 | ​ | 12,329 | ​ | 6.08 | ​ | -
2,641.00 | ​ | November 22, 2021 | ​ | 6,879 | ​ | 6.89 | ​ | -
2,698.00 | ​ | June 22, 2021 | ​ | 15,261 | ​ | 6.48 | ​ | -
2,806.00 | ​ | October 7, 2021 | ​ | 21,514 | ​ | 6.77 | ​ | -
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
1,501.49 | ​ | ​ | ​ | 968,451 | ​ | 4.39 | ​ | 411,724
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Exercise price | ​ | Grant Date | ​ | Number of warrants outstanding | ​ | Weighted average remaining contractual life (in years) | ​ | Number of warrants exercisable
DKK | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
31.75 | ​ | October 14, 2011 | ​ | 1,260 | ​ | 0.79 | ​ | 1,260
40.41 | ​ | June 22, 2011 | ​ | 24,290 | ​ | 0.48 | ​ | 24,290
55.85 | ​ | April 6, 2011 | ​ | 125 | ​ | 0.27 | ​ | 125
220.40 | ​ | October 15, 2014 | ​ | 1,045 | ​ | 0.79 | ​ | 1,045
225.30 | ​ | June 12, 2014 | ​ | 2,440 | ​ | 0.45 | ​ | 2,440
337.40 | ​ | December 15, 2014 | ​ | 20,287 | ​ | 0.96 | ​ | 20,287
466.20 | ​ | March 26, 2015 | ​ | 4,150 | ​ | 1.24 | ​ | 4,150
623.50 | ​ | June 11, 2015 | ​ | 850 | ​ | 1.45 | ​ | 850
636.50 | ​ | October 7, 2015 | ​ | 12,950 | ​ | 1.77 | ​ | 12,950
815.50 | ​ | March 17, 2016 | ​ | 7,042 | ​ | 2.21 | ​ | 7,042
939.50 | ​ | December 10, 2015 | ​ | 44,675 | ​ | 1.94 | ​ | 44,675
962.00 | ​ | June 7, 2018 | ​ | 14,355 | ​ | 4.44 | ​ | -
1,025.00 | ​ | December 10, 2018 | ​ | 182,352 | ​ | 4.94 | ​ | -
1,032.00 | ​ | December 15, 2017 | ​ | 111,144 | ​ | 3.96 | ​ | 111,144
1,050.00 | ​ | September 21, 2018 | ​ | 26,497 | ​ | 4.73 | ​ | -
1,136.00 | ​ | October 6, 2016 | ​ | 11,761 | ​ | 2.77 | ​ | 11,761
1,145.00 | ​ | December 15, 2016 | ​ | 63,410 | ​ | 2.96 | ​ | 63,410
1,147.50 | ​ | June 6, 2019 | ​ | 19,290 | ​ | 5.43 | ​ | -
1,155.00 | ​ | March 29, 2019 | ​ | 7,959 | ​ | 5.25 | ​ | -
1,161.00 | ​ | March 1, 2019 | ​ | 19,528 | ​ | 5.17 | ​ | -
1,210.00 | ​ | April 10, 2018 | ​ | 14,138 | ​ | 4.28 | ​ | -
1,233.00 | ​ | June 9, 2016 | ​ | 10,870 | ​ | 2.44 | ​ | 10,870
1,334.50 | ​ | October 11, 2019 | ​ | 54,096 | ​ | 5.78 | ​ | -
1,362.50 | ​ | March 26, 2020 | ​ | 33,573 | ​ | 6.24 | ​ | -
1,402.00 | ​ | March 28, 2017 | ​ | 7,335 | ​ | 3.24 | ​ | 7,335
1,408.00 | ​ | June 8, 2017 | ​ | 1,641 | ​ | 3.44 | ​ | 1,641
1,424.00 | ​ | February 10, 2017 | ​ | 1,427 | ​ | 3.11 | ​ | 1,053
1,427.00 | ​ | March 29, 2017 | ​ | 8,400 | ​ | 3.25 | ​ | 8,400
1,432.00 | ​ | October 5, 2017 | ​ | 11,988 | ​ | 3.76 | ​ | 11,988
1,615.00 | ​ | December 5, 2019 | ​ | 185,403 | ​ | 5.93 | ​ | -
1,948.00 | ​ | June 3, 2020 | ​ | 15,582 | ​ | 6.43 | ​ | -
2,317.00 | ​ | October 7, 2020 | ​ | 43,641 | ​ | 6.77 | ​ | -
2,381.00 | ​ | December 15, 2020 | ​ | 24,964 | ​ | 6.96 | ​ | -
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
1,247.22 | ​ | ​ | ​ | 988,468 | ​ | 4.60 | ​ | 346,716
Schedule of changes in share capital | ​
​ | ​ | ​ | ​
​ | Number of shares | ​ | Share capital
​ | ​ | ​ | (DKK million)
​ | ​ | ​ | ​
December 31, 2018 | 61,497,571 | ​ | 61.5
​ | ​ | ​ | ​
Shares issued for cash | 3,277,500 | ​ | 3.3
Exercise of warrants | 299,431 | ​ | 0.3
​ | ​ | ​ | ​
December 31, 2019 | 65,074,502 | ​ | 65.1
​ | ​ | ​ | ​
Exercise of warrants | 471,246 | ​ | 0.4
​ | ​ | ​ | ​
December 31, 2020 | 65,545,748 | ​ | 65.5
​ | ​ | ​ | ​
Exercise of warrants | 172,708 | ​ | 0.2
​ | ​ | ​ | ​
December 31, 2021 | 65,718,456 | ​ | 65.7
Schedule Of Treasury Shares | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | Number of shares | ​ | Share capital | ​ | Proportion of share capital | ​ | Cost
​ | ​ | ​ | (DKK million) | ​ | % | ​ | (DKK million)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Shareholding at December 31, 2018 | 177,550 | ​ | 0.2 | ​ | 0.3 | ​ | 208
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Shares used for funding RSU program | (13,629) | ​ | - | ​ | - | ​ | (16)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Shareholding at December 31, 2019 | 163,921 | ​ | 0.2 | ​ | 0.3 | ​ | 192
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Shares used for funding RSU program | (31,815) | ​ | (0.1) | ​ | (0.1) | ​ | (38)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Shareholding at December 31, 2020 | 132,106 | ​ | 0.1 | ​ | 0.2 | ​ | 154
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Purchase of treasury shares | 200,000 | ​ | 0.2 | ​ | 0.3 | ​ | 447
Shares used for funding RSU program | (43,781) | ​ | - | ​ | (0.1) | ​ | (51)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Shareholding at December 31, 2021 | 288,325 | ​ | 0.3 | ​ | 0.4 | ​ | 550

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- Definition Tabular disclosure of warrants activity. + References No definition available. + Details
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- Definition Tabular disclosure of portfolio of marketable securities. + References No definition available. + Details
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- Definition The disclosure of the number and weighted average exercise prices of other equity instruments (ie other than share options). + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name IFRS -Number 2 -IssueDate 2021-01-01 -Paragraph 45 -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&num=2&code=ifrs-tx-2021-en-r&anchor=para_45&doctype=Standard -URIDate 2021-03-24 + Details
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- Definition The disclosure of the offsetting of financial assets and financial liabilities. [Refer: Financial assets; Financial liabilities] + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 7 -IssueDate 2021-01-01 -Section Offsetting financial assets and financial liabilities -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&num=7&code=ifrs-tx-2021-en-r&doctype=Standard&dita_xref=IFRS07_g13A-13F_TI -URIDate 2021-03-24 + Details
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- Definition The disclosure of reserves within equity. [Refer: Other reserves [member]] + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 1 -IssueDate 2021-01-01 -Paragraph 79 -Subparagraph b -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&num=1&code=ifrs-tx-2021-en-r&anchor=para_79_b&doctype=Standard -URIDate 2021-03-24 + Details
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- Definition The disclosure of treasury shares. [Refer: Treasury shares] + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name IAS -Number 1 -IssueDate 2021-01-01 -Paragraph 10 -Subparagraph e -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&num=1&code=ifrs-tx-2021-en-r&anchor=para_10_e&doctype=Standard -URIDate 2021-03-24 + Details
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