0001745114-24-000017 | 6-K | XBRL Viewer

Revenue and other group-wide disclosures - Narrative (Details) SFr in Thousands, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024 CHF (SFr)	Jun. 30, 2023 CHF (SFr)	Jun. 30, 2024 CHF (SFr)	Jun. 30, 2023 CHF (SFr)	Jun. 30, 2024 USD ($)
Disclosure of disaggregation of revenue from contracts with customers [line items]
Total revenues	SFr 1,551	SFr 415	SFr 4,289	SFr 3,465
Recognized as revenue			(3,748)
Licence and collaboration agreement with Novartis
Disclosure of disaggregation of revenue from contracts with customers [line items]
Total revenues	230	292	541	678
Trade receivables	18,600		18,600		$ 20
Recognized as revenue	SFr (1,321)	SFr (123)	SFr (3,748)	SFr (2,787)

Contract liability

6 Months Ended

Jun. 30, 2024

Contract liabilities [abstract]

Contract liability

The table below presents the movement in the Group's contract liabilities during the six months ended June 30, 2024:


in CHF thousands	Contract liability at December 31, 2023	Recognized as revenue	Contract liability at June 30, 2024

Novartis AG, Switzerland	4,333	(3,748)	585
Total	4,333	(3,748)	585


in CHF thousands	Current	Non-current	Contract liability

Novartis AG, Switzerland	585	—	585
Balance at June 30, 2024	585	—	585

Cover	6 Months Ended
Cover	Jun. 30, 2024
Cover [Abstract]
Document Type	6-K
Entity File Number	001-40488
Entity Registrant Name	MOLECULAR PARTNERS AG
Entity Address, Address Line One	Wagistrasse 14
Entity Address, Postal Zip Code	8952
Entity Address, City or Town	Zürich-Schlieren
Entity Address, Country	CH
Amendment Flag	false
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q2
Entity Central Index Key	0001745114
Document Period End Date	Jun. 30, 2024
Current Fiscal Year End Date	--12-31

Dividends	6 Months Ended
Dividends	Jun. 30, 2024
Dividends [Abstract]
Dividends	Dividends The Group has paid no dividends since its inception and does not anticipate paying dividends in the foreseeable future.

Income taxes	6 Months Ended
Income taxes	Jun. 30, 2024
Income Taxes And Deferred Taxes [Abstract]
Income taxes	Income taxes The Group has in recent years reported operating losses, with the exception of the year ended December 31, 2022, that resulted in a tax loss carry-forward in Switzerland of TCHF 144,483 as of December 31, 2023. No deferred tax assets have been recognized for these tax loss carry forwards, because it is not probable that such loss carry forwards can be utilized in the foreseeable future. In addition, no deferred tax positions were recognized on other deductible temporary differences (e.g. pension liabilities under IAS 19) due to the significant tax loss carry forwards.

Revenue and other group-wide disclosures

6 Months Ended

Jun. 30, 2024

Revenue [abstract]

Revenue and other group-wide disclosures

On January 5, 2024, the Group announced it entered into a co-development agreement with Orano Med to co-develop 212Pb-based Radio Darpin Therapies (RDT). Under the terms of the co-development agreement, Molecular Partner’s previously disclosed RDT target DLL3 (delta-like ligand 3) will be included in the collaboration with Orano Med. Both companies are developing additional radioligand therapy candidates in partnership with other companies, with Molecular Partners having announced its first collaboration with Novartis in December 2021.

Molecular Partners maintains the option to explore DLL3 for targeted therapy outside of the radiotherapy space. Both companies agree to share the cost of preclinical and clinical development with additional commitments to supply their respective materials.

On December 14, 2021, the Group entered into a License and Collaboration Agreement with Novartis to develop DARPin-conjugated radioligand therapeutic candidates for oncology. The Group is able to recharge Novartis its employee related expenses associated with the research activities. During the six months ended June 30, 2024, the Group recognized as revenue an amount of TCHF 541 in relation to this recharge (six months ended June 30, 2023: TCHF 678). During the three months ended June 30, 2024, the Group recognized as revenue an amount of TCHF 230 in relation to this recharge (three months ended June 30, 2023: TCHF 292).

As part of the same agreement, the Group received in January 2022 an upfront fee of USD 20 million (CHF 18.6 million). Revenue related to the upfront payment is recognized over time in line with the progress made over the duration of the contractually agreed research plan.

During the six months ended June 30, 2024, the Group recognized as revenue an amount of TCHF 3,748 (six months ended June 30, 2023: TCHF 2,787) related to the upfront payment received in January 2022. During the three months ended June 30, 2024, the Group recognized as revenue an amount of TCHF 1,321 (three months ended June 30, 2023: TCHF 123) in relation to the same upfront payment.

Revenues in the table below are attributable to individual countries and are based on the location of the Group’s collaboration partners.


Revenues by country
in TCHF, for the six months ended June 30	2024	2023

Switzerland	4,289	3,465

Total revenues	4,289	3,465


Analysis of revenue by major alliance partner
in TCHF, for the six months ended June 30	2024	2023

Novartis AG, Switzerland	4,289	3,465


Total revenues	4,289	3,465


Revenues by country
in TCHF, for the three months ended June 30	2024	2023

Switzerland	1,551	415

Total revenues	1,551	415


Analysis of revenue by major alliance partner
in TCHF, for the three months ended June 30	2024	2023

Novartis AG, Switzerland	1,551	415


Total revenues	1,551	415

Revenue and other group-wide disclosures (Tables)

6 Months Ended

Jun. 30, 2024

Revenue [abstract]

Disclosure of revenue by country and by major collaboration partner

Revenues in the table below are attributable to individual countries and are based on the location of the Group’s collaboration partners.


Revenues by country
in TCHF, for the six months ended June 30	2024	2023

Switzerland	4,289	3,465

Total revenues	4,289	3,465


Analysis of revenue by major alliance partner
in TCHF, for the six months ended June 30	2024	2023

Novartis AG, Switzerland	4,289	3,465


Total revenues	4,289	3,465


Revenues by country
in TCHF, for the three months ended June 30	2024	2023

Switzerland	1,551	415

Total revenues	1,551	415


Analysis of revenue by major alliance partner
in TCHF, for the three months ended June 30	2024	2023

Novartis AG, Switzerland	1,551	415


Total revenues	1,551	415

Income taxes (Details) SFr in Thousands	Dec. 31, 2023 CHF (SFr)
Disclosure Of Detailed Information About Income Taxes And Deferred Taxes [Line Items]
Tax loss carryforwards	SFr 144,483

Condensed consolidated interim statement of changes in equity - CHF (SFr) SFr in Thousands	Total	Share capital	Additional paid-in capital	Treasury share reserve	Cumulative losses
Equity at beginning of period at Dec. 31, 2022	SFr 235,166	SFr 3,604	SFr 360,323	SFr (981)	SFr (127,780)
Net result	(30,765)				(30,765)
Remeasurement of net pension liabilities	(1,507)				(1,507)
Exchange differences on translating foreign operations	(4)				(4)
Total comprehensive result, attributable to shareholders	(32,276)				(32,276)
Share-based compensation costs	3,060		3,060
Exercise of stock options, net of transaction costs	27	29	(2)
Equity at end of period at Jun. 30, 2023	205,977	3,633	363,381	(981)	(160,056)
Equity at beginning of period at Dec. 31, 2023	176,429	3,635	365,530	(981)	(191,755)
Net result	(26,407)				(26,407)
Remeasurement of net pension liabilities	3,532				3,532
Exchange differences on translating foreign operations	(4)				(4)
Total comprehensive result, attributable to shareholders	(22,879)				(22,879)
Share-based compensation costs	1,983		1,983
Exercise of stock options, net of transaction costs	36	33	3
Equity at end of period at Jun. 30, 2024	SFr 155,569	SFr 3,668	SFr 367,516	SFr (981)	SFr (214,634)

- Definition

The amount of change in equity resulting from transactions and other events, other than those changes resulting from transactions with owners in their capacity as owners.

+ References + Details

- Definition

The amount of residual interest in the assets of the entity after deducting all its liabilities.

+ References + Details

- Definition

The total of income less expenses from continuing and discontinued operations, excluding the components of other comprehensive income. [Refer: Other comprehensive income]

+ References

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+ Details

Contract liability - Disclosure of Current and Non-Current Contract Liabilities (Details) - CHF (SFr) SFr in Thousands	Jun. 30, 2024	Dec. 31, 2023
Disclosure Of Detailed Information About Contract Liability [Line Items]
Current	SFr 585	SFr 4,333
Non-current	0
Contract liability	585	4,333
Novartis AG, Switzerland
Disclosure Of Detailed Information About Contract Liability [Line Items]
Current	585
Non-current	0
Contract liability	SFr 585	SFr 4,333

Earnings per share (Details) - shares	3 Months Ended		6 Months Ended
Earnings per share (Details) - shares	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Earnings per share [abstract]
Weighted average number of shares used in computing basic earnings per share (in shares)	33,182,251	32,830,804	33,025,576	32,694,617
Weighted average number of shares used in computing diluted earnings per share (in shares)	33,182,251	32,830,804	33,025,576	32,694,617

New or Revised IFRS Standards and Interpretations	6 Months Ended
New or Revised IFRS Standards and Interpretations	Jun. 30, 2024
Revised standards [Abstract]
New or Revised IFRS Standards and Interpretations	New or Revised IFRS Standards and Interpretations A number of new or amended standards became applicable for annual periods beginning on or after January 1, 2024. These standards are not expected to have any significant impact on the Group’s accounting policies and did not require any retrospective adjustments.

Other Comprehensive result	6 Months Ended
Other Comprehensive result	Jun. 30, 2024
Analysis of income and expense [abstract]
Other Comprehensive result	Other Comprehensive result In order to recognize remeasurements of the net defined benefit obligation in the period in which they arise, the Group utilizes its independent actuaries to update the calculation of the defined benefit obligation and plan assets at each reporting date. The primary component of the remeasurement as of and for the six month period ended June 30, 2024, relates to an increase in the funding status of our main pension provider.

Condensed consolidated interim cash flow statement - CHF (SFr) SFr in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Statement of cash flows [abstract]
Net result attributable to shareholders	SFr (26,407)	SFr (30,765)
Adjustments for:
Depreciation and amortization	1,208	1,214
Share-based compensation costs	1,983	3,060
Change in employee benefits	319	317
Financial income	(5,447)	(1,955)
Financial expenses	20	1,749
Changes in working capital:
Change in other current assets	62	888
Change in trade and other receivables	(1,397)	(469)
Change in trade and other payables	1,541	591
Change in contract liability	(3,748)	(2,788)
Change in accrued expenses	(842)	(1,610)
Exchange gain/(loss) on working capital positions	(43)	(30)
Interest paid	(13)	(18)
Other financial expense	(7)	(9)
Net cash used in operating activities	(32,771)	(29,825)
Proceeds from investments in short term time deposits	148,404	161,723
Investments in short term time deposits	(119,777)	(155,478)
Acquisition of property, plant and equipment	(312)	(185)
Acquisition of intangible assets	(16)	(157)
Interest received	2,461	1,502
Net cash from investing activities	30,760	7,405
Proceeds from exercise of stock options, net of transaction costs	36	27
Payment of lease liabilities	(603)	(598)
Net cash used in financing activities	(567)	(571)
Exchange gain (loss) on cash positions	955	(1,712)
Net decrease in cash and cash equivalents	(1,623)	(24,703)
Cash and cash equivalents at January 1	67,309	87,946
Cash and cash equivalents at June 30,	SFr 65,686	SFr 63,243

Share-based compensation - Narrative (Details) SFr in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024 CHF (SFr) shares	Jun. 30, 2023 CHF (SFr)	Jun. 30, 2024 CHF (SFr) shares	Jun. 30, 2023 CHF (SFr)	Dec. 31, 2023 shares
Disclosure Of Number And Weighted Average Exercise Prices Of Other Equity Instruments [Line Items]
Number of share options outstanding (in shares)	276,154		276,154		282,105
Number of PSUs and RSUs outstanding (in shares)	2,729,651		2,729,651		1,530,661
Share-based compensation costs \| SFr	SFr 1,129	SFr 1,312	SFr 1,983	SFr 3,060
Performance Share Units (PSU)
Disclosure Of Number And Weighted Average Exercise Prices Of Other Equity Instruments [Line Items]
Number of PSUs and RSUs outstanding (in shares)	2,383,853		2,383,853		1,347,983
Restricted Share Units (RSU)
Disclosure Of Number And Weighted Average Exercise Prices Of Other Equity Instruments [Line Items]
Number of PSUs and RSUs outstanding (in shares)	345,798		345,798		182,678

Share-based compensation

6 Months Ended

Jun. 30, 2024

Personnel Expenses [Abstract]

Share-based compensation

As of June 30, 2024, 276,154 options were outstanding (December 31, 2023: 282,105 options) under all active option plans. As of June 30, 2024, and December 31, 2023 all outstanding options were fully vested.

As of June 30, 2024, a total of 2,383,853 PSUs and 345,798 Restricted Stock Units ("RSUs") were outstanding, of which none were vested (as of December 31, 2023 a total of 1,347,983 PSUs and 182,678 RSUs were outstanding). The changes in the number of share-based awards (options, RSUs and PSUs) outstanding during the six month period ended June 30, 2024, is as follows:


Share options / PSU/ RSU movements	Total numbers	Weighted average exercise price (CHF)	Options (numbers)	Weighted average exercise price (CHF)	PSU / RSU (numbers)	Weighted average exercise price (CHF)

Balance outstanding at January 1, 2024	1,812,766	1.16	282,105	6.89	1,530,661	0.10

Granted	1,859,112	0.10	—	—	1,859,112	0.10
(Performance adjustment)1	(238,261)	0.10	—	—	(238,261)	0.10
(Forfeited)2	(94,072)	0.10	—	—	(94,072)	0.10
(Expired)	(5,450)	6.06	(5,450)	6.06	—	—
(Exercised options), vested PSU / RSU	(328,290)	0.11	(501)	6.94	(327,789)	0.10

Balance outstanding at June 30, 2024	3,005,805	0.73	276,154	6.91	2,729,651	0.10

1Performance adjustments indicate forfeitures due to non-market performance conditions not achieved

2Forfeited due to service conditions not fulfilled

The share-based compensation costs recognized during the six months ended June 30, 2024, amounted to TCHF 1,983 (TCHF 3,060 for the six months ended June 30, 2023). For the three months ended June 30, 2024 the share-based compensation costs amounted to TCHF 1,129 (TCHF 1,312 for the three months ended June 30, 2023).

Earnings per share

6 Months Ended

Jun. 30, 2024

Earnings per share [abstract]

Earnings per share


for the six months ended June 30	2024	2023
Weighted average number of shares used in computing basic and diluted earnings per share	33,025,576	32,694,617


for the three months ended June 30	2024	2023
Weighted average number of shares used in computing basic and diluted earnings per share	33,182,251	32,830,804

Revenue and other group-wide disclosures - Analysis of Revenue by Major Collaboration Partner (Details) - CHF (SFr) SFr in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Disclosure of disaggregation of revenue from contracts with customers [line items]
Total revenues	SFr 1,551	SFr 415	SFr 4,289	SFr 3,465
Novartis AG, Switzerland
Disclosure of disaggregation of revenue from contracts with customers [line items]
Total revenues	SFr 1,551	SFr 415	SFr 4,289	SFr 3,465

Share-based compensation (Tables)

6 Months Ended

Jun. 30, 2024

Personnel Expenses [Abstract]

Disclosure of movements in the number of share options

The changes in the number of share-based awards (options, RSUs and PSUs) outstanding during the six month period ended June 30, 2024, is as follows:


Share options / PSU/ RSU movements	Total numbers	Weighted average exercise price (CHF)	Options (numbers)	Weighted average exercise price (CHF)	PSU / RSU (numbers)	Weighted average exercise price (CHF)

Balance outstanding at January 1, 2024	1,812,766	1.16	282,105	6.89	1,530,661	0.10

Granted	1,859,112	0.10	—	—	1,859,112	0.10
(Performance adjustment)1	(238,261)	0.10	—	—	(238,261)	0.10
(Forfeited)2	(94,072)	0.10	—	—	(94,072)	0.10
(Expired)	(5,450)	6.06	(5,450)	6.06	—	—
(Exercised options), vested PSU / RSU	(328,290)	0.11	(501)	6.94	(327,789)	0.10

Balance outstanding at June 30, 2024	3,005,805	0.73	276,154	6.91	2,729,651	0.10

1Performance adjustments indicate forfeitures due to non-market performance conditions not achieved

2Forfeited due to service conditions not fulfilled

Financial income and expense - Disclosure of Detailed Information about Financial Income (Details) - CHF (SFr) SFr in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Analysis of income and expense [abstract]
Interest income on financial assets held at amortized cost	SFr 912	SFr 1,088	SFr 2,015	SFr 1,955
Net foreign exchange gain			3,432	0
Total	SFr 912	SFr 1,088	SFr 5,447	SFr 1,955

Financial income and expense (Tables)

6 Months Ended

Jun. 30, 2024

Analysis of income and expense [abstract]

Disclosure of detailed information about financial income

Financial income


in CHF thousands, for the six months ended June 30	2024	2023
Interest income on financial assets held at amortized cost	2,015	1,955
Net foreign exchange gain	3,432	—
Total	5,447	1,955


in CHF thousands, for the three months ended June 30	2024	2023
Interest income on financial assets held at amortized cost	912	1,088

Total	912	1,088

Disclosure of detailed information about financial expense

Financial expense


in CHF thousands, for the six months ended June 30	2024	2023
Net foreign exchange loss	—	(1,722)

Interest expense on leases	(13)	(18)
Other financial expenses	(7)	(9)
Total	(20)	(1,749)


in CHF thousands, for the three months ended June 30	2024	2023
Net foreign exchange loss	(9)	(1,177)

Interest expense on leases	(6)	(9)
Other financial expenses	(3)	(6)
Total	(18)	(1,192)

Revenue and other group-wide disclosures - Revenue by Country (Details) - CHF (SFr) SFr in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Disclosure of disaggregation of revenue from contracts with customers [line items]
Total revenues	SFr 1,551	SFr 415	SFr 4,289	SFr 3,465
Switzerland
Disclosure of disaggregation of revenue from contracts with customers [line items]
Total revenues	SFr 1,551	SFr 415	SFr 4,289	SFr 3,465

Issuances of equity securities (Details) - CHF (SFr)	Jun. 30, 2024	Dec. 31, 2023
Issued capital	SFr 3,668,259	SFr 3,635,000
Number of shares issued and fully paid (in shares)	36,682,587
Treasury share reserve
Number of shares outstanding (in shares)	3,500,000

Earnings per share (Tables)

6 Months Ended

Jun. 30, 2024

Earnings per share [abstract]

Summary of weighted average number of shares used in computation


for the six months ended June 30	2024	2023
Weighted average number of shares used in computing basic and diluted earnings per share	33,025,576	32,694,617


for the three months ended June 30	2024	2023
Weighted average number of shares used in computing basic and diluted earnings per share	33,182,251	32,830,804

Basis of Preparation (Policies)	6 Months Ended
Basis of Preparation (Policies)	Jun. 30, 2024
Disclosure Of Significant Accounting Policies [Abstract]
Basis of preparation	These unaudited condensed consolidated interim financial statements have been prepared in accordance with IAS 34 Interim Financial Reporting and should be read in conjunction with the Group's last annual consolidated financial statements as at and for the year ended December 31, 2023. They do not include all the information required for a complete set of consolidated financial statements prepared in accordance with IFRS as issued by the IASB. However, selected explanatory notes are included to explain events and transactions that are significant to gain an understanding of the changes in the Group's financial position and performance since the last annual consolidated financial statements as at and for the year ended December 31, 2023. The accounting policies set forth in the notes to those annual consolidated financial statements have been consistently applied to all periods presented, except as per below. The condensed consolidated interim financial statements are presented in thousands of Swiss Francs (TCHF), unless stated otherwise. The business is not subject to any seasonality. Revenues largely depend on the underlying alliance contracts and the achievement of agreed milestones, while expenses are largely affected by the phase of the respective projects, particularly with regard to external research and development expenditures. Due to rounding, the numbers presented in the financial statements might not precisely equal the accompanying notes.

Contract liability (Tables)

6 Months Ended

Jun. 30, 2024

Contract liabilities [abstract]

Explanation of Changes in Contract Liabilities

The table below presents the movement in the Group's contract liabilities during the six months ended June 30, 2024:


in CHF thousands	Contract liability at December 31, 2023	Recognized as revenue	Contract liability at June 30, 2024

Novartis AG, Switzerland	4,333	(3,748)	585
Total	4,333	(3,748)	585

Disclosure of Current and Non-Current Contract Liabilities


in CHF thousands	Current	Non-current	Contract liability

Novartis AG, Switzerland	585	—	585
Balance at June 30, 2024	585	—	585

General Information	6 Months Ended
General Information	Jun. 30, 2024
Disclosure Of General Information [Abstract]
General Information	General Information Molecular Partners AG ("Company'") and its subsidiary (collectively "Molecular Partners" or "Group") is a clinical-stage biopharmaceutical company pioneering designed ankyrin repeat proteins (DARPin) candidates to treat serious diseases, with a current focus on oncology and virology. The Company was founded on November 22, 2004, and is domiciled at Wagistrasse 14, 8952 Schlieren, Canton of Zurich, Switzerland. It is subject to the provisions of the articles of association and to article 620 et seq. of the Swiss Code of Obligations, which describe the legal requirements for limited companies (“Aktiengesellschaften”). Molecular Partners Inc. is a wholly owned subsidiary of Molecular Partners AG. Molecular Partners Inc. was incorporated in the United States in the State of Delaware on October 8, 2018. Molecular Partners Inc. is based in Cambridge, Massachusetts. The unaudited condensed consolidated interim financial statements for the three and six months ended June 30, 2024 were approved for issuance by the Board of Directors on August 26, 2024. The Company’s shares are listed on the SIX Swiss Exchange (Ticker: MOLN) since November 5, 2014 and on the Nasdaq Global Select Market (Ticker: MOLN) since June 16, 2021.

Condensed consolidated interim statement of comprehensive loss - CHF (SFr) SFr in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Revenues and other income
Revenues from research and development collaborations	SFr 1,551	SFr 415	SFr 4,289	SFr 3,465
Total revenues and other income	1,551	415	4,289	3,465
Operating expenses
Research and development expenses	(13,087)	(11,632)	(27,191)	(24,327)
Selling, general and administrative expenses	(4,440)	(4,666)	(8,932)	(10,109)
Total operating expenses	(17,527)	(16,298)	(36,123)	(34,436)
Operating result	(15,976)	(15,883)	(31,834)	(30,971)
Financial income	912	1,088	5,447	1,955
Financial expenses	(18)	(1,192)	(20)	(1,749)
Net finance result	894	(104)	5,427	206
Result before income taxes	(15,082)	(15,987)	(26,407)	(30,765)
Income taxes	0	0	0	0
Net result, attributable to shareholders	(15,082)	(15,987)	(26,407)	(30,765)
Items that will not be reclassified to profit or loss
Remeasurement of net pension liabilities, net of tax	948	(1,536)	3,532	(1,507)
Items that are or may be reclassified subsequently to profit or loss
Exchange differences on translating foreign operations	(5)	(1)	(4)	(4)
Other comprehensive result, net of tax	943	(1,537)	3,528	(1,511)
Total comprehensive result, attributable to shareholders	SFr (14,139)	SFr (17,524)	SFr (22,879)	SFr (32,276)
Basic net result per share (in CHF per share)	SFr (0.46)	SFr (0.49)	SFr (0.80)	SFr (0.94)
Diluted net result per share (in CHF per share)	SFr (0.46)	SFr (0.49)	SFr (0.80)	SFr (0.94)

Related parties	6 Months Ended
Related parties	Jun. 30, 2024
Related party transactions [abstract]
Related parties	Related parties The Group did not enter into any related party transactions in the interim periods presented.

Financial income and expense

6 Months Ended

Jun. 30, 2024

Analysis of income and expense [abstract]

Financial income and expense

Financial income


in CHF thousands, for the six months ended June 30	2024	2023
Interest income on financial assets held at amortized cost	2,015	1,955
Net foreign exchange gain	3,432	—
Total	5,447	1,955


in CHF thousands, for the three months ended June 30	2024	2023
Interest income on financial assets held at amortized cost	912	1,088

Total	912	1,088

Financial expense


in CHF thousands, for the six months ended June 30	2024	2023
Net foreign exchange loss	—	(1,722)

Interest expense on leases	(13)	(18)
Other financial expenses	(7)	(9)
Total	(20)	(1,749)


in CHF thousands, for the three months ended June 30	2024	2023
Net foreign exchange loss	(9)	(1,177)

Interest expense on leases	(6)	(9)
Other financial expenses	(3)	(6)
Total	(18)	(1,192)

Exchange results primarily represent unrealized foreign exchange results on the cash and short-term time deposit balances held in USD and in EUR, respectively.

Condensed consolidated interim statement of financial position - CHF (SFr)	Jun. 30, 2024	Dec. 31, 2023
Assets
Property, plant and equipment	SFr 4,891,000	SFr 5,681,000
Intangible assets	122,000	212,000
Total non-current assets	5,013,000	5,893,000
Short-term time deposits	93,440,000	119,580,000
Other current assets	3,108,000	3,617,000
Trade and other receivables	3,370,000	1,953,000
Cash and cash equivalents	65,686,000	67,309,000
Total current assets	165,604,000	192,459,000
Total assets	170,617,000	198,352,000
Shareholders' equity and liabilities
Share capital	3,668,259	3,635,000
Additional paid-in capital	367,516,000	365,530,000
Treasury share reserve	(981,000)	(981,000)
Cumulative losses	(214,634,000)	(191,755,000)
Total shareholders' equity	155,569,000	176,429,000
Lease liability	1,837,000	2,444,000
Employee benefits	1,851,000	5,063,000
Total non-current liabilities	3,688,000	7,507,000
Trade and other payables	2,858,000	1,328,000
Accrued expenses	6,705,000	7,547,000
Contract liability	585,000	4,333,000
Lease liability	1,212,000	1,208,000
Total current liabilities	11,360,000	14,416,000
Total liabilities	15,048,000	21,923,000
Total shareholders' equity and liabilities	SFr 170,617,000	SFr 198,352,000

Issuances of equity securities	6 Months Ended
Issuances of equity securities	Jun. 30, 2024
Issuance of Equity Shares [Abstract]
Issuances of equity securities	Issuances of equity securities As of June 30, 2024, as a result of the vesting of Performance Share Units ("PSUs" ) the outstanding issued share capital of the Company increased to CHF 3,668,259 divided into 36,682,587 fully paid registered shares (inclusive of 3,500,000 treasury shares).

Accounting estimates and judgment	6 Months Ended
Accounting estimates and judgment	Jun. 30, 2024
Accounting Estimates and Judgments [Abstract]
Accounting estimates and judgments	Accounting estimates and judgments The condensed consolidated interim financial statements have been prepared under the historical cost convention. In preparing these condensed consolidated interim financial statements, management made judgments, estimates and assumptions that affect the application of accounting policies and the reported amounts of assets and liabilities, income and expenses. Actual results may differ from these estimates.

Events after the balance sheet date	6 Months Ended
Events after the balance sheet date	Jun. 30, 2024
Disclosure of non-adjusting events after reporting period [abstract]
Events after the balance sheet date	Events after the balance sheet date No events occurred between the balance sheet date and the date on which these condensed consolidated interim financial statements were approved for issuance by the Board of Directors that would require adjustment to these condensed consolidated interim financial statements or disclosure under this section.

Basis of Preparation	6 Months Ended
Basis of Preparation	Jun. 30, 2024
Disclosure Of Significant Accounting Policies [Abstract]
Basis of Preparation	Basis of Preparation These unaudited condensed consolidated interim financial statements have been prepared in accordance with IAS 34 Interim Financial Reporting and should be read in conjunction with the Group's last annual consolidated financial statements as at and for the year ended December 31, 2023. They do not include all the information required for a complete set of consolidated financial statements prepared in accordance with IFRS as issued by the IASB. However, selected explanatory notes are included to explain events and transactions that are significant to gain an understanding of the changes in the Group's financial position and performance since the last annual consolidated financial statements as at and for the year ended December 31, 2023. The accounting policies set forth in the notes to those annual consolidated financial statements have been consistently applied to all periods presented, except as per below. The condensed consolidated interim financial statements are presented in thousands of Swiss Francs (TCHF), unless stated otherwise. The business is not subject to any seasonality. Revenues largely depend on the underlying alliance contracts and the achievement of agreed milestones, while expenses are largely affected by the phase of the respective projects, particularly with regard to external research and development expenditures. Due to rounding, the numbers presented in the financial statements might not precisely equal the accompanying notes.

Contract liability - Explanation of Changes in Contract Liabilities (Details) SFr in Thousands	6 Months Ended
	Jun. 30, 2024 CHF (SFr)
Disclosure Of Detailed Information About Contract Liability [Line Items]
Contract liability at beginning of period	SFr 4,333
Recognized as revenue	3,748
Contract liability at end of period	585
Novartis AG, Switzerland
Disclosure Of Detailed Information About Contract Liability [Line Items]
Contract liability at beginning of period	4,333
Recognized as revenue	3,748
Contract liability at end of period	SFr 585

Putative Class Action	6 Months Ended
Putative Class Action	Jun. 30, 2024
Disclosure of contingent liabilities [abstract]
Putative Class Action	Putative Class Action On July 12, 2022, a putative class action complaint was filed in the U.S. District Court for the Southern District of New York against the Company, its directors, and certain of its executive officers. On May 23, 2023, an amended complaint was filed. The amended complaint alleged that the defendants violated federal securities laws by, among other things, making misrepresentations and omissions regarding its product candidate MP0310 and an associated licensing agreement. The amended complaint sought among others unspecified compensatory damages on behalf of persons and/or entities which purchased the Company's American Depositary Shares (ADSs) pursuant to certain offering documents issued in connection with the Company's initial public offering of ADSs. The Company and named individual defendants moved to dismiss the amended complaint on July 24, 2023. On February 5, 2024, the court dismissed the amended complaint without prejudice. On February 29, 2024, the court ordered the case closed.

Financial income and expense - Disclosure of Detailed Information about Financial Expense (Details) - CHF (SFr) SFr in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Analysis of income and expense [abstract]
Net foreign exchange loss	SFr (9)	SFr (1,177)	SFr 0	SFr (1,722)
Interest expense on leases	(6)	(9)	(13)	(18)
Other financial expenses	(3)	(6)	(7)	(9)
Total	SFr (18)	SFr (1,192)	SFr (20)	SFr (1,749)

Share-based compensation - Disclosure of Movements in the Number of Share Options (Details)	6 Months Ended
	Jun. 30, 2024 shares SFr / shares
Personnel Expenses [Abstract]
Number of instruments outstanding, beginning of period (in shares) \| shares	1,812,766
Weighted average exercise price of instruments outstanding at beginning of period (in CHF per share) \| SFr / shares	SFr 1.16
Number of share options outstanding at beginning of period (in shares) \| shares	282,105
Weighted average exercise price of share options outstanding at beginning of period (in CHF per share) \| SFr / shares	SFr 6.89
Number of PSU and RSU outstanding at beginning of period (in shares) \| shares	1,530,661
Weighted average exercise price of PSU and RSU outstanding at beginning of period (in CHF per share) \| SFr / shares	SFr 0.10
Number of instruments granted (in shares) \| shares	1,859,112
Weighted average exercise price of instruments granted (in CHF per share) \| SFr / shares	SFr 0.10
Number of share options granted (in shares) \| shares	0
Weighted average exercise price of share options granted (in CHF per share) \| SFr / shares	SFr 0
Number of RSU and PSU granted (in shares) \| shares	1,859,112
Weighted average exercise price (in CHF per shares) \| SFr / shares	SFr 0.10
Number of instruments forfeited, performance adjustment (in shares) \| shares	(238,261)
Weighted average exercise price of instruments forfeited, performance adjustment (in CHF per share) \| SFr / shares	SFr 0.10
Number of share options forfeited, performance adjustment (in shares) \| shares	0
Weighted average exercise price of share options forfeited, performance adjustment (in CHF per share) \| SFr / shares	SFr 0
Number of PSU and RSU forfeited, performance adjustment (in shares) \| shares	(238,261)
Weighted average exercise price of PSU and RSU forfeited, performance adjustment (in CHF per share) \| SFr / shares	SFr 0.10
Number of instruments forfeited (in shares) \| shares	(94,072)
Weighted average exercise price of instruments forfeited (in CHF per share) \| SFr / shares	SFr 0.10
Number of share options forfeited (in shares) \| shares	0
Weighted average exercise price of share options forfeited (in CHF per share) \| SFr / shares	SFr 0
Number of PSU and RSU forfeited (in shares) \| shares	(94,072)
Weighted average exercise price of PSU and RSU forfeited (in CHF per share) \| SFr / shares	SFr 0.10
Number of instruments expired (in shares) \| shares	(5,450)
Weighted average exercise price of instruments expired (in CHF per share) \| SFr / shares	SFr 6.06
Number of share options expired (in shares) \| shares	(5,450)
Weighted average exercise price of share options expired (in CHF per share) \| SFr / shares	SFr 6.06
Number of PSU and RSU expired (in shares) \| shares	0
Weighted average exercise price of PSU and RSU expired (in CHF per share) \| SFr / shares	SFr 0
Number of instruments exercised (in shares) \| shares	(328,290)
Weighted average exercise price of instruments exercised (in CHF per share) \| SFr / shares	SFr 0.11
Number of share options exercised (in shares) \| shares	(501)
Weighted average exercise price of share options exercised (in CHF per share) \| SFr / shares	SFr 6.94
Number of PSU and RSU exercised (in shares) \| shares	(327,789)
Weighted average exercise price of PSU and RSU exercised (in CHF per share) \| SFr / shares	SFr 0.10
Number of instruments outstanding, end of period (in shares) \| shares	3,005,805
Weighted average exercise price of instruments outstanding at end of period (in CHF per share) \| SFr / shares	SFr 0.73
Number of share options outstanding at end of period (in shares) \| shares	276,154
Weighted average exercise price of share options outstanding at end of period (in CHF per share) \| SFr / shares	SFr 6.91
Number of PSU and RSU outstanding at end of period (in shares) \| shares	2,729,651
Weighted average exercise price of PSU and RSU outstanding at end of period (in CHF per share) \| SFr / shares	SFr 0.10

Dividends (Details) SFr in Thousands	6 Months Ended
Dividends (Details) SFr in Thousands	Jun. 30, 2024 CHF (SFr)
Dividends [Abstract]
Dividends paid, ordinary shares	SFr 0