XML 94 R6.htm IDEA: XBRL DOCUMENT v3.25.2
Consolidated Statements of Cash Flows (Unaudited) - EUR (€)
 6 Months Ended
Jun. 30, 2025
Dec. 31, 2024
Jun. 30, 2024
Cash flows from operating activities      
Net loss € (3,826,585) € (4,873,989) € (4,038,506)
Adjustments to reconcile net loss to net cash used in operating activities:      
Foreign exchange adjustment  
Depreciation expense 13,941   22,132
Retirement benefit obligation 65,882   31,713
Share-based compensation 424,360   232,768
Fair value loss on convertible bond 55,000  
Fair value adjustments on available-for-sale financial instruments (10,686)  
Changes in operating assets and liabilities      
Prepaid expenses and other current assets (1,513,453)   817,258
Other non-current assets (214,090)   622,890
Accounts payable 685,604   110,871
Accounts payable - related party (180,116)   18,874
Accrued expenses (105,422)   106,915
Accrued expenses - related party (815,703)   (162,710)
Other current liabilities (92,658)   186,234
Other non-current liabilities (1,158)   (6,613)
Net cash used in operating activities (5,515,084)   (2,058,174)
Cash flows from investing activities      
Purchases of marketable securities (12,422,023)   (8,998,556)
Proceeds from maturities of marketable securities 7,992,891   13,300,341
Purchases of fixed assets (7,625)   (1,869)
Net cash (used in) provided by investing activities (4,436,757)   4,299,916
Cash flows from financing activities      
Proceeds from the ATM program 2,977,061   270,885
Proceeds from the convertible bond 7,500,000  
Net cash provided by financing activities 10,477,061   270,885
Effect of exchange rate changes 69,663   (16,081)
Net increase (decrease) in cash and cash equivalents 594,883   2,496,546
Cash and cash equivalents at the beginning of the period 4,581,749 6,187,966 3,691,420
Cash and cash equivalents at the end of the period € 5,176,632 € 4,581,749 € 6,187,966