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Commitments | 12 Months Ended
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Dec. 31, 2023
Commitments [Abstract] |
Commitments |
| E. | Commitments
| 1. | Operating contracts or services
The Group enters into contracts in the normal course of business with CROs and clinical sites for the conduct of clinical trials, professional consultants for expert advice and other vendors for clinical supply manufacturing or other services. These contracts can usually be terminated with 30 to 180 days’ notice. In addition to this minimum duration, these contracts require full payment for services already rendered. During 2023, the Group did not have any commitments to purchase property, plant and equipment or patents and trademarks (respectively nil in 2022).
| 2. | Lease obligations
The maturity analysis of lease liabilities is disclosed in the following table:
Maturity analysis for capitalized leases in 2023 |  | Contractual minimum lease obligations |  |  | Effect of discounting |  |  | Lease liabilities |
|  |  |  |  | (in €) |  |  |  |
Within one year |  |  | 391,158 |  |  |  | 16,829 |  |  |  | 374,329 |
After one year but not more than five years |  |  | 760,275 |  |  |  | 14,559 |  |  |  | 745,716 |
More than five years |  |  | — |  |  |  | — |  |  |  | — |
Total |  |  | 1,151,434 |  |  |  | 31,389 |  |  |  | 1,120,045 |
Maturity analysis for capitalized leases in 2022 |  | Contractual minimum lease obligations |  |  | Effect of discounting |  |  | Lease liabilities |
|  |  |  |  | (in €) |  |  |  |
Within one year |  |  | 380,518 |  |  |  | 11,142 |  |  |  | 369,376 |
After one year but not more than five years |  |  | 999,482 |  |  |  | 12,175 |  |  |  | 987,307 |
More than five years |  |  | — |  |  |  | — |  |  |  | — |
Total |  |  | 1,380,000 |  |  |  | 23,317 |  |  |  | 1,356,683 |
Maturity analysis for all lease obligations in 2023 |  | Total |  |  | Low value leases |  |  | Short-term leases |  |  | Capitalized leases |
Within one year |  |  | 397,942 |  |  |  | 4,816 |  |  |  | 1,968 |  |  |  | 391,158 |
After one year but not more than five years |  |  | 760,421 |  |  |  | 146 |  |  |  | — |  |  |  | 760,275 |
More than five years |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Total |  |  | 1,158,363 |  |  |  | 4,962 |  |  |  | 1,968 |  |  |  | 1,151,434 |
Maturity analysis for all lease obligations in 2022 |  | Total |  |  | Low value leases |  |  | Short-term leases |  |  | Capitalized leases |
|  |  |  |  | (in €) |  |  |  |
Within one year |  |  | 386,779 |  |  |  | 6,261 |  |  |  | — |  |  |  | 380,518 |
After one year but not more than five years |  |  | 1,004,444 |  |  |  | 4,962 |  |  |  | — |  |  |  | 999,482 |
More than five years |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Total |  |  | 1,391,223 |  |  |  | 11,223 |  |  |  | — |  |  |  | 1,380,000 |
Anticipated future lease expenses were converted with the exchange rate as of December 31, 2023, 1 Euro = 1.1050 U.S. dollar. The Group applies the ‘lease of low-value assets’ recognition exemptions. The Group also applied the ‘short-term lease’ exemption for leases with a maturity of less than 12 months.

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