Consolidated Key Figures
| (thousands of €, if not stated otherwise) | Third quarter of 2019 | Third quarter of 2018 | Nine months ended 30 September 2019 | Nine months ended 30 September 2018 | Full year 2018 |
| INCOME STATEMENT | |||||
|---|---|---|---|---|---|
| Revenues | 633,934 | 94,874 | 725,719 | 182,457 | 288,836 |
| Other income | 10,020 | 8,334 | 26,744 | 22,623 | 29,009 |
| R&D expenditure | (120,680) | (80,314) | (298,247) | (231,758) | (322,875) |
| S, G&A expenses | (32,643) | (10,623) | (61,195) | (26,837) | (39,776) |
| Operating expenses | (153,323) | (90,937) | (359,442) | (258,595) | (362,652) |
| Operating profit / loss (-) | 490,631 | 12,271 | 393,021 | (53,515) | (44,807) |
| Net financial results | (146,226) | 2,091 | (144,391) | 8,958 | 15,598 |
| Taxes | 16,828 | 480 | 16,699 | 343 | (50) |
| Net profit / net loss (-) | 361,233 | 14,841 | 265,329 | (44,215) | (29,259) |
| BALANCE SHEET | |||||
| Cash and cash equivalents | 5,599,787 | 1,343,668 | 5,599,787 | 1,343,668 | 1,290,796 |
| R&D incentives receivables | 99,711 | 80,447 | 99,711 | 80,447 | 84,646 |
| Assets (1) | 5,851,752 | 1,485,551 | 5,851,752 | 1,485,551 | 1,439,496 |
| Shareholders' equity (1) | 2,535,281 | 1,188,222 | 2,535,281 | 1,188,222 | 1,214,249 |
| Deferred income | 3,127,777 | 209,742 | 3,127,777 | 209,742 | 149,801 |
| Other liabilities (1) | 188,695 | 87,587 | 188,695 | 87,587 | 75,446 |
| CASH FLOW | |||||
| Operational cash flow / burn (-) (2) | 3,454,585 | (5,571) | 3,302,041 | (100,581) | (158,384) |
| Cash flow generated / used (-) in operating activities (1) | 3,470,495 | (3,640) | 3,328,758 | (94,918) | (142,466) |
| Cash flow used in investing activities | (14,221) | (1,933) | (22,881) | (5,657) | (15,914) |
| Cash flow generated in financing activities (1) | 965,072 | 281,181 | 970,733 | 286,435 | 287,876 |
| Increase in cash and cash equivalents | 4,421,347 | 275,608 | 4,276,610 | 185,860 | 129,497 |
| Effect of currency exchange rate fluctuation on cash and cash equivalents | 30,514 | 1,292 | 32,380 | 6,596 | 10,089 |
| Cash and cash equivalents at the end of the period | 5,599,787 | 1,343,668 | 5,599,787 | 1,343,668 | 1,290,796 |
| FINANCIAL RATIOS | |||||
| Number of shares issued at the end of the period | 61,953,831 | 54,299,136 | 61,953,831 | 54,299,136 | 54,465,421 |
| Basic gain / loss (-) per share (in €) | 6.26 | 0.29 | 4.77 | (0.86) | (0.56) |
| Diluted gain / loss (-) per share (in €) | 6.03 | 0.28 | 4.59 | (0.86) | (0.56) |
| Total group employees at the end of the period (number) | 918 | 712 | 918 | 712 | 725 |
(1) Our assets, shareholders’ equity, other liabilities, cash flow generated / used (–) in operating activities and cash flow generated in financing activities for the period ended 30 September 2019 were influenced by the adoption of the new standard IFRS 16 – Leases, on 1 January 2019. We refer to the notes of this condensed consolidated interim financial report for additional information.
(2) The operational cash burn (or operational cash flow if this performance measure is positive) is equal to the increase or decrease in our cash and cash equivalents (excluding the effect of exchange rate differences on cash and cash equivalents), minus:
(i) the net proceeds, if any, from share capital and share premium increases included in the net cash flows generated / used (–) in financing activities
(ii) the net proceeds or cash used, if any, in acquisitions or disposals of businesses; and the movement in restricted cash, if any, included in the net cash flows generated / used (–) in investing activities.
This alternative performance measure is in our view an important metric for a biotech company in the development stage.