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0001745114 ifrs-full:TreasurySharesMember ifrs-full:RestrictedShareUnitsMember 2026-01-01 2026-06-30 0001745114 moln:PerformanceShareUnitsPSUMember 2026-06-30 0001745114 ifrs-full:RestrictedShareUnitsMember 2026-06-30 0001745114 moln:PerformanceShareUnitsPSUMember 2025-12-31 0001745114 ifrs-full:RestrictedShareUnitsMember 2025-12-31 0001745114 moln:RestrictedShareUnitsAndPerformanceShareUnitsMember 2025-12-31 0001745114 moln:RestrictedShareUnitsAndPerformanceShareUnitsMember 2026-01-01 2026-06-30 0001745114 moln:RestrictedShareUnitsAndPerformanceShareUnitsMember 2026-06-30 0001745114 2025-06-10 2025-06-10 iso4217:CHF iso4217:CHF shares shares moln:position false 2026 Q2 0001745114 2026-06-30 --12-31 6-K 001-40488 MOLECULAR PARTNERS AG Wagistrasse 14 8952 Zürich-Schlieren CH 4266000 5229000 0 2000 4266000 5231000 0 10405000 2161000 1985000 1341000 1834000 67930000 82653000 71432000 96876000 75698000 102107000 4037000 4037000 390917000 389179000 1233000 1129000 -335177000 -311753000 58544000 80334000 160000 160000 1832000 2438000 5342000 8147000 7334000 10746000 1765000 1767000 6845000 8055000 1210000 1206000 9820000 11027000 17154000 21772000 75698000 102107000 0 0 0 0 19055000 22627000 7978000 8214000 0 2617000 27033000 33458000 -27033000 -33458000 351000 922000 21000 4633000 330000 -3711000 -26703000 -37169000 0 -2000 -26703000 -37167000 3270000 71000 9000 7000 3279000 78000 -23424000 -37089000 -0.70 -0.70 -1.00 -1.00 0 0 0 0 9610000 10706000 3981000 3994000 0 2617000 13591000 17317000 -13591000 -17317000 41000 420000 11000 3501000 30000 -3081000 -13561000 -20398000 0 0 -13561000 -20398000 3003000 -2107000 5000 1000 3008000 -2106000 -10553000 -22504000 -0.35 -0.35 -0.56 -0.56 -26703000 -37167000 985000 1105000 1843000 2370000 389000 316000 81000 0 465000 -891000 0 -2000 351000 922000 21000 4633000 -237000 64000 487000 -1284000 -10000 271000 -1210000 1996000 -4000 21000 13000 9000 -9000 -7000 -25036000 -30180000 18257000 89095000 8037000 39526000 20000 544000 275000 908000 10475000 49933000 0 1000 99000 61000 601000 607000 -502000 -545000 340000 -1107000 -14723000 18102000 82653000 63874000 67930000 81975000 4036000 384875000 -981000 -246293000 141637000 -37167000 -37167000 71000 71000 7000 7000 -37089000 -37089000 2370000 2370000 1000 1000 -110000 171000 61000 -316000 -316000 4037000 387134000 -1127000 -283383000 106662000 4037000 389179000 -1129000 -311753000 80334000 -26703000 -26703000 3270000 3270000 9000 9000 -23424000 -23424000 1843000 1843000 74000 7000 81000 -179000 278000 99000 -389000 -389000 4037000 390917000 -1233000 -335177000 58544000 General Information<div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:11pt;font-weight:400;line-height:120%">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”).</span></div><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:11pt;font-weight:400;line-height:120%">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.</span></div><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The unaudited condensed consolidated interim financial statements for the three and six months ended June 30, 2026 , were approved for issuance by the Board of Directors on August 24, 2026.</span></div><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:11pt;font-weight:400;line-height:120%">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</span><span style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">.</span></div> Basis of Preparation<div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:11pt;font-weight:400;line-height:120%">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, 2025. They do not include all the information required for a complete set of consolidated financial statements prepared in accordance with IFRS® Accounting Standards ("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, 2025. </span></div><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:11pt;font-weight:400;line-height:120%">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.</span></div><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The condensed consolidated interim financial statements are presented in thousands of Swiss Francs (TCHF), unless stated otherwise.</span></div><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The business is not subject to any seasonality. Revenues largely depend on the underlying collaboration agreements 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.</span></div><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:11pt;font-weight:400;line-height:120%">Due to rounding, the numbers presented in the financial statements might not precisely equal the accompanying notes.</span></div> <div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:11pt;font-weight:400;line-height:120%">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, 2025. They do not include all the information required for a complete set of consolidated financial statements prepared in accordance with IFRS® Accounting Standards ("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, 2025. </span></div><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:11pt;font-weight:400;line-height:120%">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.</span></div><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The condensed consolidated interim financial statements are presented in thousands of Swiss Francs (TCHF), unless stated otherwise.</span></div><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The business is not subject to any seasonality. Revenues largely depend on the underlying collaboration agreements 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.</span></div><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:11pt;font-weight:400;line-height:120%">Due to rounding, the numbers presented in the financial statements might not precisely equal the accompanying notes.</span></div> New or Revised IFRS Standards and Interpretations<div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:11pt;font-weight:400;line-height:120%">A number of new or amended standards became applicable for annual periods beginning on or after January 1, 2026. These standards were assessed to not have any significant impact on the Group’s accounting policies and did not require any retrospective adjustments.</span></div><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:11pt;font-weight:400;line-height:120%">A preliminary assessment on the impact of the implementation of IFRS 18 has been performed; based on this assessment, the Company expects there to be no significant impact on the Company's overall financial statements. Based on the initial assessment the Company also expects there to be no Management defined Performance Measures or MPM’s to be reported on. IFRS 18 will not be early adopted. Possible impacts from other new or revised standards have not yet been assessed but are anticipated to be immaterial.</span></div> Accounting estimates and judgments<div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:11pt;font-weight:400;line-height:120%">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.</span></div> Other group-wide disclosures<div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:11pt;font-weight:400;line-height:120%">On January 5, 2024, the Group announced it entered into a co-development agreement with Orano Med to co-develop </span><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:7.15pt;font-weight:400;line-height:120%;position:relative;top:-3.85pt;vertical-align:baseline">212</span><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:11pt;font-weight:400;line-height:120%">Pb-based Radio Darpin Therapies (RDT). Under the terms of the co-development agreement, Molecular Partners previously disclosed RDT target DLL3 (delta-like ligand 3) is included in the collaboration with Orano Med. Both companies agree to share the cost of preclinical and clinical development with additional commitments to supply their respective materials. </span></div><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The cost sharing in the first six months of 2026 resulted in a reimbursement of expenses by Orano Med of TCHF425 (First six months of 2025: TCHF1,397) and for the three months ended June 30, 2026 TCHF77</span><span style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%"> </span><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:11pt;font-weight:400;line-height:120%">(Three months ended June 30, 2025: TCHF567</span><span style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">) </span><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:11pt;font-weight:400;line-height:120%">reported under research and development expenses.</span></div> 425000 1397000 77000 567000 Share capital<div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:11pt;font-weight:400;line-height:120%">As of June 30, 2026, the issued share capital of the Company amounted to CHF 4,037,464 divided into 40,374,641 fully paid registered shares, inclusive of 2,069,404 treasury shares (December 31, 2025: CHF 4,037,464 divided into 40,374,641 shares, of which 2,962,973</span><span style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%"> </span><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:11pt;font-weight:400;line-height:120%">were treasury shares).</span></div><div style="margin-bottom:12pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:92.785%"><tr><td style="width:1.0%"></td><td style="width:54.587%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.670%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.670%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.673%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Effra Medium',sans-serif;font-size:11pt;font-weight:400;line-height:100%">In CHF thousands</span></td><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Effra Medium',sans-serif;font-size:11pt;font-weight:400;line-height:100%">Number of Treasury shares</span></td><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Effra Medium',sans-serif;font-size:11pt;font-weight:400;line-height:100%">Average price in CHF</span></td><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Effra Medium',sans-serif;font-size:11pt;font-weight:400;line-height:100%">Total TCHF value</span></td></tr><tr style="height:6pt"><td colspan="3" style="border-top:1pt solid #ee2724;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #ee2724;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #ee2724;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #ee2724;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Effra Medium',sans-serif;font-size:11pt;font-weight:400;line-height:120%">As of January 1, 2026</span></div></td><td colspan="2" style="padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Effra Medium',sans-serif;font-size:11pt;font-weight:400;line-height:120%">2,962,973 </span></div></td><td style="padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="2" style="padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Effra Medium',sans-serif;font-size:11pt;font-weight:400;line-height:120%">0.38 </span></div></td><td style="padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="2" style="padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Effra Medium',sans-serif;font-size:11pt;font-weight:400;line-height:120%">1,129 </span></div></td><td style="padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="border-top:1pt solid #bc2327;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Shares vested under the PSU program</span></div></td><td colspan="2" style="border-top:1pt solid #bc2327;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:11pt;font-weight:400;line-height:120%">(873,552)</span></div></td><td style="border-top:1pt solid #bc2327;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="2" style="border-top:1pt solid #bc2327;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:11pt;font-weight:400;line-height:120%">0.28 </span></div></td><td style="border-top:1pt solid #bc2327;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="2" style="border-top:1pt solid #bc2327;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:11pt;font-weight:400;line-height:120%">(245)</span></div></td><td style="border-top:1pt solid #bc2327;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Shares withheld to cover social security and tax liabilities</span></div></td><td colspan="2" style="padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:11pt;font-weight:400;line-height:120%">103,875 </span></div></td><td style="padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="2" style="padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:11pt;font-weight:400;line-height:120%">3.08 </span></div></td><td style="padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="2" style="padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:11pt;font-weight:400;line-height:120%">320 </span></div></td><td style="padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Shares vested under the RSU program</span></div></td><td colspan="2" style="padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:11pt;font-weight:400;line-height:120%">(120,144)</span></div></td><td style="padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="2" style="padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:11pt;font-weight:400;line-height:120%">0.28 </span></div></td><td style="padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="2" style="padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:11pt;font-weight:400;line-height:120%">(33)</span></div></td><td style="padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Shares withheld to cover social security and tax liabilities</span></div></td><td colspan="2" style="padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:11pt;font-weight:400;line-height:120%">21,252 </span></div></td><td style="padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="2" style="padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:11pt;font-weight:400;line-height:120%">3.23 </span></div></td><td style="padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="2" style="padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:11pt;font-weight:400;line-height:120%">69 </span></div></td><td style="padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Other equity-settled transactions</span></div></td><td colspan="2" style="padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:11pt;font-weight:400;line-height:120%">(25,000)</span></div></td><td style="padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="2" style="padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:11pt;font-weight:400;line-height:120%">0.28 </span></div></td><td style="padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="2" style="padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:11pt;font-weight:400;line-height:120%">(7)</span></div></td><td style="padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #bc2327;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Effra Medium',sans-serif;font-size:11pt;font-weight:400;line-height:120%">Shares as of June 30, 2026</span></div></td><td colspan="2" style="border-bottom:1pt solid #bc2327;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Effra Medium',sans-serif;font-size:11pt;font-weight:400;line-height:120%">2,069,404 </span></div></td><td style="border-bottom:1pt solid #bc2327;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="2" style="border-bottom:1pt solid #bc2327;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Effra Medium',sans-serif;font-size:11pt;font-weight:400;line-height:120%">0.60 </span></div></td><td style="border-bottom:1pt solid #bc2327;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="2" style="border-bottom:1pt solid #bc2327;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Effra Medium',sans-serif;font-size:11pt;font-weight:400;line-height:120%">1,233 </span></div></td><td style="border-bottom:1pt solid #bc2327;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr></table><span style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%"><br/></span><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Treasury shares are measured at a FIFO principle.</span></div><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The 125,127 shares were withheld from vested awards to cover employees’ and Board of Directors income tax and social security contributions.</span></div> 4037464 40374641 2069404 4037464 40374641 2962973 <div style="margin-bottom:12pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:92.785%"><tr><td style="width:1.0%"></td><td style="width:54.587%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.670%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.670%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.673%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Effra Medium',sans-serif;font-size:11pt;font-weight:400;line-height:100%">In CHF thousands</span></td><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Effra Medium',sans-serif;font-size:11pt;font-weight:400;line-height:100%">Number of Treasury shares</span></td><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Effra Medium',sans-serif;font-size:11pt;font-weight:400;line-height:100%">Average price in CHF</span></td><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Effra Medium',sans-serif;font-size:11pt;font-weight:400;line-height:100%">Total TCHF value</span></td></tr><tr style="height:6pt"><td colspan="3" style="border-top:1pt solid #ee2724;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #ee2724;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #ee2724;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #ee2724;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Effra Medium',sans-serif;font-size:11pt;font-weight:400;line-height:120%">As of January 1, 2026</span></div></td><td colspan="2" style="padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Effra Medium',sans-serif;font-size:11pt;font-weight:400;line-height:120%">2,962,973 </span></div></td><td style="padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="2" style="padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Effra Medium',sans-serif;font-size:11pt;font-weight:400;line-height:120%">0.38 </span></div></td><td style="padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="2" style="padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Effra Medium',sans-serif;font-size:11pt;font-weight:400;line-height:120%">1,129 </span></div></td><td style="padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="border-top:1pt solid #bc2327;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Shares vested under the PSU program</span></div></td><td colspan="2" style="border-top:1pt solid #bc2327;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:11pt;font-weight:400;line-height:120%">(873,552)</span></div></td><td style="border-top:1pt solid #bc2327;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="2" style="border-top:1pt solid #bc2327;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:11pt;font-weight:400;line-height:120%">0.28 </span></div></td><td style="border-top:1pt solid #bc2327;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="2" style="border-top:1pt solid #bc2327;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:11pt;font-weight:400;line-height:120%">(245)</span></div></td><td style="border-top:1pt solid #bc2327;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Shares withheld to cover social security and tax liabilities</span></div></td><td colspan="2" style="padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:11pt;font-weight:400;line-height:120%">103,875 </span></div></td><td style="padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="2" style="padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:11pt;font-weight:400;line-height:120%">3.08 </span></div></td><td style="padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="2" style="padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:11pt;font-weight:400;line-height:120%">320 </span></div></td><td style="padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Shares vested under the RSU program</span></div></td><td colspan="2" style="padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:11pt;font-weight:400;line-height:120%">(120,144)</span></div></td><td style="padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="2" style="padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:11pt;font-weight:400;line-height:120%">0.28 </span></div></td><td style="padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="2" style="padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:11pt;font-weight:400;line-height:120%">(33)</span></div></td><td style="padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Shares withheld to cover social security and tax liabilities</span></div></td><td colspan="2" style="padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:11pt;font-weight:400;line-height:120%">21,252 </span></div></td><td style="padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="2" style="padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:11pt;font-weight:400;line-height:120%">3.23 </span></div></td><td style="padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="2" style="padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:11pt;font-weight:400;line-height:120%">69 </span></div></td><td style="padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Other equity-settled transactions</span></div></td><td colspan="2" style="padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:11pt;font-weight:400;line-height:120%">(25,000)</span></div></td><td style="padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="2" style="padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:11pt;font-weight:400;line-height:120%">0.28 </span></div></td><td style="padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="2" style="padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:11pt;font-weight:400;line-height:120%">(7)</span></div></td><td style="padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #bc2327;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Effra Medium',sans-serif;font-size:11pt;font-weight:400;line-height:120%">Shares as of June 30, 2026</span></div></td><td colspan="2" style="border-bottom:1pt solid #bc2327;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Effra Medium',sans-serif;font-size:11pt;font-weight:400;line-height:120%">2,069,404 </span></div></td><td style="border-bottom:1pt solid #bc2327;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="2" style="border-bottom:1pt solid #bc2327;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Effra Medium',sans-serif;font-size:11pt;font-weight:400;line-height:120%">0.60 </span></div></td><td style="border-bottom:1pt solid #bc2327;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="2" style="border-bottom:1pt solid #bc2327;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Effra Medium',sans-serif;font-size:11pt;font-weight:400;line-height:120%">1,233 </span></div></td><td style="border-bottom:1pt solid #bc2327;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr></table><span style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%"><br/></span><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Treasury shares are measured at a FIFO principle.</span></div> 2962973 0.38 1129000 873552 0.28 245000 103875 3.08 320000 120144 0.28 33000 21252 3.23 69000 25000 0.28 7000 2069404 0.60 1233000 125127 Dividends<div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The Group has paid no dividends since its inception and does not anticipate paying dividends in the foreseeable future.</span></div> 0 Share-based compensation<div style="margin-bottom:6pt"><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:11pt;font-weight:400;line-height:120%">As of June 30, 2026, a total of 3,218,673 PSUs and 586,723 Restricted Share Units ("RSUs") were outstanding (as of December 31, 2025, a total of 2,918,458 PSUs and 504,543 RSUs were outstanding). The changes in the number of share-based awards (PSUs and RSUs) outstanding during the six month period ended June 30, 2026, is as follows:</span></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:65.847%"><tr><td style="width:1.0%"></td><td style="width:80.000%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:17.800%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:11pt;font-weight:400;line-height:120%">PSU/ RSU movements</span><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:7.15pt;font-weight:400;line-height:120%;position:relative;top:-3.85pt;vertical-align:baseline">3</span></div></td><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:11pt;font-weight:400;line-height:120%">PSU / RSU (numbers)</span></div></td></tr><tr style="height:15pt"><td colspan="3" style="border-top:1pt solid #ba2227;padding:0 1pt"><div style="margin-bottom:12pt"></div></td><td colspan="3" style="border-top:1pt solid #ba2227;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Effra Medium',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Balance outstanding at January 1, 2026</span></div></td><td colspan="2" style="padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Effra Medium',sans-serif;font-size:11pt;font-weight:700;line-height:120%">3,423,001</span><span style="color:#000000;font-family:'Effra Medium',sans-serif;font-size:11pt;font-weight:400;line-height:120%"> </span></div></td><td style="padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr style="height:15pt"><td colspan="3" style="border-top:1pt solid #ba2227;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #ba2227;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:11pt;font-weight:400;line-height:120%">Granted</span></div></td><td colspan="2" style="padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:11pt;font-weight:400;line-height:120%">1,895,303 </span></div></td><td style="padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:11pt;font-weight:400;line-height:120%">(Performance adjustment)</span><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:7.15pt;font-weight:400;line-height:120%;position:relative;top:-3.85pt;vertical-align:baseline">1</span></div></td><td colspan="2" style="padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:11pt;font-weight:400;line-height:120%">(395,261)</span></div></td><td style="padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:11pt;font-weight:400;line-height:120%">(Forfeited)</span><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:7.15pt;font-weight:400;line-height:120%;position:relative;top:-3.85pt;vertical-align:baseline">2</span></div></td><td colspan="2" style="padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:11pt;font-weight:400;line-height:120%">(123,951)</span></div></td><td style="padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:11pt;font-weight:400;line-height:120%">(Expired)</span></div></td><td colspan="2" style="padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:11pt;font-weight:400;line-height:120%">— </span></div></td><td style="padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:11pt;font-weight:400;line-height:120%">(Exercised grants), vested PSU / RSU</span></div></td><td colspan="2" style="padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:11pt;font-weight:400;line-height:120%">(993,696)</span></div></td><td style="padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr style="height:15pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #ba2227;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Effra Medium',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Balance outstanding at June 30, 2026</span></div></td><td colspan="2" style="border-bottom:1pt solid #ba2227;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Effra Medium',sans-serif;font-size:11pt;font-weight:700;line-height:120%">3,805,396</span><span style="color:#000000;font-family:'Effra Medium',sans-serif;font-size:11pt;font-weight:400;line-height:120%"> </span></div></td><td style="border-bottom:1pt solid #ba2227;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr></table></div><div><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">1</span><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Performance adjustments indicate additional grants or forfeitures due to non-market performance conditions (under) over-achieved</span></div><div><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">2</span><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Forfeited due to service conditions not fulfilled</span></div><div><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">3 </span><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">All outstanding PSU / RSU have an exercise price of CHF 0.10.</span></div><div style="margin-bottom:4pt"><span><br/></span></div><div style="margin-bottom:12pt;padding-right:9pt"><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The share-based compensation costs recognized during the six months ended June 30, 2026, amounted to TCHF 1,843 (TCHF 2,370 for the six months ended June 30, 2025). For the three months ended June 30, 2026, the share-based compensation costs amounted to TCHF 907 (TCHF 1,228 for the three months ended June 30, 2025).</span></div> 3218673 586723 2918458 504543 The changes in the number of share-based awards (PSUs and RSUs) outstanding during the six month period ended June 30, 2026, is as follows:<div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:65.847%"><tr><td style="width:1.0%"></td><td style="width:80.000%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:17.800%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:top"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:11pt;font-weight:400;line-height:120%">PSU/ RSU movements</span><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:7.15pt;font-weight:400;line-height:120%;position:relative;top:-3.85pt;vertical-align:baseline">3</span></div></td><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:11pt;font-weight:400;line-height:120%">PSU / RSU (numbers)</span></div></td></tr><tr style="height:15pt"><td colspan="3" style="border-top:1pt solid #ba2227;padding:0 1pt"><div style="margin-bottom:12pt"></div></td><td colspan="3" style="border-top:1pt solid #ba2227;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Effra Medium',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Balance outstanding at January 1, 2026</span></div></td><td colspan="2" style="padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Effra Medium',sans-serif;font-size:11pt;font-weight:700;line-height:120%">3,423,001</span><span style="color:#000000;font-family:'Effra Medium',sans-serif;font-size:11pt;font-weight:400;line-height:120%"> </span></div></td><td style="padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr style="height:15pt"><td colspan="3" style="border-top:1pt solid #ba2227;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #ba2227;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:11pt;font-weight:400;line-height:120%">Granted</span></div></td><td colspan="2" style="padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:11pt;font-weight:400;line-height:120%">1,895,303 </span></div></td><td style="padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:11pt;font-weight:400;line-height:120%">(Performance adjustment)</span><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:7.15pt;font-weight:400;line-height:120%;position:relative;top:-3.85pt;vertical-align:baseline">1</span></div></td><td colspan="2" style="padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:11pt;font-weight:400;line-height:120%">(395,261)</span></div></td><td style="padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:11pt;font-weight:400;line-height:120%">(Forfeited)</span><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:7.15pt;font-weight:400;line-height:120%;position:relative;top:-3.85pt;vertical-align:baseline">2</span></div></td><td colspan="2" style="padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:11pt;font-weight:400;line-height:120%">(123,951)</span></div></td><td style="padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:11pt;font-weight:400;line-height:120%">(Expired)</span></div></td><td colspan="2" style="padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:11pt;font-weight:400;line-height:120%">— </span></div></td><td style="padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:11pt;font-weight:400;line-height:120%">(Exercised grants), vested PSU / RSU</span></div></td><td colspan="2" style="padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:11pt;font-weight:400;line-height:120%">(993,696)</span></div></td><td style="padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr style="height:15pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #ba2227;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Effra Medium',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Balance outstanding at June 30, 2026</span></div></td><td colspan="2" style="border-bottom:1pt solid #ba2227;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Effra Medium',sans-serif;font-size:11pt;font-weight:700;line-height:120%">3,805,396</span><span style="color:#000000;font-family:'Effra Medium',sans-serif;font-size:11pt;font-weight:400;line-height:120%"> </span></div></td><td style="border-bottom:1pt solid #ba2227;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr></table></div><div><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">1</span><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Performance adjustments indicate additional grants or forfeitures due to non-market performance conditions (under) over-achieved</span></div><div><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">2</span><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Forfeited due to service conditions not fulfilled</span></div><div><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">3 </span><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">All outstanding PSU / RSU have an exercise price of CHF 0.10.</span></div> 3423001 1895303 395261 123951 0 993696 3805396 0.10 1843000 2370000 907000 1228000 Financial income and expense<div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Effra Medium',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Financial income for six months</span></div><div style="margin-bottom:12pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:66.089%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.383%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.228%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:11pt;font-weight:400;line-height:100%">in CHF thousands, for the six months ended June 30</span></td><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Effra Medium',sans-serif;font-size:11pt;font-weight:400;line-height:120%">2026</span></div></td><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Effra Medium',sans-serif;font-size:11pt;font-weight:400;line-height:120%">2025</span></div></td></tr><tr><td colspan="3" style="border-top:1pt solid #bf373a;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:11pt;font-weight:400;line-height:100%">Interest income on financial assets held at amortized cost</span></td><td colspan="2" style="border-top:1pt solid #bf373a;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:11pt;font-weight:400;line-height:120%">214 </span></div></td><td style="border-top:1pt solid #bf373a;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="2" style="border-top:1pt solid #bf373a;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:11pt;font-weight:400;line-height:120%">922 </span></div></td><td style="border-top:1pt solid #bf373a;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:11pt;font-weight:400;line-height:100%">Net foreign exchange gain</span></td><td colspan="2" style="padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:11pt;font-weight:400;line-height:120%">137 </span></div></td><td style="padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="2" style="padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:11pt;font-weight:400;line-height:120%">— </span></div></td><td style="padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #bb3739;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Effra Medium',sans-serif;font-size:11pt;font-weight:400;line-height:100%">Total</span></td><td colspan="2" style="border-bottom:1pt solid #bf2115;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Effra Medium',sans-serif;font-size:11pt;font-weight:400;line-height:120%">351 </span></div></td><td style="border-bottom:1pt solid #bf2115;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="2" style="border-bottom:1pt solid #bf2115;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Effra Medium',sans-serif;font-size:11pt;font-weight:400;line-height:120%">922 </span></div></td><td style="border-bottom:1pt solid #bf2115;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr></table></div><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Effra Medium',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Financial expense for six months</span></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:66.246%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.069%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.385%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:11pt;font-weight:400;line-height:120%">in CHF thousands, for the six months ended June 30</span></div></td><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Effra Medium',sans-serif;font-size:11pt;font-weight:400;line-height:100%">2026</span></td><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Effra Medium',sans-serif;font-size:11pt;font-weight:400;line-height:100%">2025</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bf373a;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:11pt;font-weight:400;line-height:120%">Net foreign exchange loss</span></div></td><td colspan="2" style="border-top:1pt solid #ee2724;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:11pt;font-weight:400;line-height:100%">— </span></td><td style="border-top:1pt solid #ee2724;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #ee2724;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:11pt;font-weight:400;line-height:100%">(4,617)</span></td><td style="border-top:1pt solid #ee2724;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:11pt;font-weight:400;line-height:120%">Interest expense on leases</span></div></td><td colspan="2" style="padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:11pt;font-weight:400;line-height:100%">(13)</span></td><td style="padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:11pt;font-weight:400;line-height:100%">(9)</span></td><td style="padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:11pt;font-weight:400;line-height:120%">Other financial expenses</span></div></td><td colspan="2" style="padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:11pt;font-weight:400;line-height:100%">(9)</span></td><td style="padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:11pt;font-weight:400;line-height:100%">(7)</span></td><td style="padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #bf2115;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Effra Medium',sans-serif;font-size:11pt;font-weight:400;line-height:120%">Total</span></div></td><td colspan="2" style="border-bottom:1pt solid #ee2724;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Effra Medium',sans-serif;font-size:11pt;font-weight:400;line-height:100%">(21)</span></td><td style="border-bottom:1pt solid #ee2724;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #ee2724;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Effra Medium',sans-serif;font-size:11pt;font-weight:400;line-height:100%">(4,633)</span></td><td style="border-bottom:1pt solid #ee2724;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Effra Medium',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Financial income for three months</span></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:65.984%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.357%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.359%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:11pt;font-weight:400;line-height:120%">in CHF thousands, for the three months ended June 30</span></div></td><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Effra Medium',sans-serif;font-size:11pt;font-weight:400;line-height:100%">2026</span></td><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Effra Medium',sans-serif;font-size:11pt;font-weight:400;line-height:100%">2025</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bf373a;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:11pt;font-weight:400;line-height:120%">Interest income on financial assets held at amortized cost</span></div></td><td colspan="2" style="border-top:1pt solid #ee2724;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:11pt;font-weight:400;line-height:100%">38 </span></td><td style="border-top:1pt solid #ee2724;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #ee2724;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:11pt;font-weight:400;line-height:100%">420 </span></td><td style="border-top:1pt solid #ee2724;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:11pt;font-weight:400;line-height:120%">Net foreign exchange gain</span></div></td><td colspan="2" style="padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:11pt;font-weight:400;line-height:100%">3 </span></td><td style="padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:11pt;font-weight:400;line-height:100%">— </span></td><td style="padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #bb3739;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Effra Medium',sans-serif;font-size:11pt;font-weight:400;line-height:120%">Total</span></div></td><td colspan="2" style="border-bottom:1pt solid #ee2724;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Effra Medium',sans-serif;font-size:11pt;font-weight:400;line-height:100%">41 </span></td><td style="border-bottom:1pt solid #ee2724;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #ee2724;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Effra Medium',sans-serif;font-size:11pt;font-weight:400;line-height:100%">420 </span></td><td style="border-bottom:1pt solid #ee2724;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Effra Medium',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Financial expense for three months</span></div><div><span><br/></span></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:65.984%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.357%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.359%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:11pt;font-weight:400;line-height:120%">in CHF thousands, for the three months ended June 30</span></div></td><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Effra Medium',sans-serif;font-size:11pt;font-weight:400;line-height:100%">2026</span></td><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Effra Medium',sans-serif;font-size:11pt;font-weight:400;line-height:100%">2025</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bf373a;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:11pt;font-weight:400;line-height:120%">Net foreign exchange loss</span></div></td><td colspan="2" style="border-top:1pt solid #ee2724;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:11pt;font-weight:400;line-height:100%">— </span></td><td style="border-top:1pt solid #ee2724;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #ee2724;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:11pt;font-weight:400;line-height:100%">(3,494)</span></td><td style="border-top:1pt solid #ee2724;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:11pt;font-weight:400;line-height:120%">Interest expense on leases</span></div></td><td colspan="2" style="padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:11pt;font-weight:400;line-height:100%">(6)</span></td><td style="padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:11pt;font-weight:400;line-height:100%">(4)</span></td><td style="padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:11pt;font-weight:400;line-height:120%">Other financial expenses</span></div></td><td colspan="2" style="padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:11pt;font-weight:400;line-height:100%">(5)</span></td><td style="padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:11pt;font-weight:400;line-height:100%">(3)</span></td><td style="padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #bf2115;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Effra Medium',sans-serif;font-size:11pt;font-weight:400;line-height:120%">Total</span></div></td><td colspan="2" style="border-bottom:1pt solid #ee2724;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Effra Medium',sans-serif;font-size:11pt;font-weight:400;line-height:100%">(11)</span></td><td style="border-bottom:1pt solid #ee2724;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #ee2724;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Effra Medium',sans-serif;font-size:11pt;font-weight:400;line-height:100%">(3,501)</span></td><td style="border-bottom:1pt solid #ee2724;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div><span><br/></span></div><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:11pt;font-weight:400;line-height:120%">Exchange results primarily represent unrealized foreign exchange results on the cash and short-term time deposit balances held in USD.</span></div> <div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Effra Medium',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Financial income for six months</span></div><div style="margin-bottom:12pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:66.089%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.383%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.228%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:11pt;font-weight:400;line-height:100%">in CHF thousands, for the six months ended June 30</span></td><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Effra Medium',sans-serif;font-size:11pt;font-weight:400;line-height:120%">2026</span></div></td><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Effra Medium',sans-serif;font-size:11pt;font-weight:400;line-height:120%">2025</span></div></td></tr><tr><td colspan="3" style="border-top:1pt solid #bf373a;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:11pt;font-weight:400;line-height:100%">Interest income on financial assets held at amortized cost</span></td><td colspan="2" style="border-top:1pt solid #bf373a;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:11pt;font-weight:400;line-height:120%">214 </span></div></td><td style="border-top:1pt solid #bf373a;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="2" style="border-top:1pt solid #bf373a;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:11pt;font-weight:400;line-height:120%">922 </span></div></td><td style="border-top:1pt solid #bf373a;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:11pt;font-weight:400;line-height:100%">Net foreign exchange gain</span></td><td colspan="2" style="padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:11pt;font-weight:400;line-height:120%">137 </span></div></td><td style="padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="2" style="padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:11pt;font-weight:400;line-height:120%">— </span></div></td><td style="padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #bb3739;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Effra Medium',sans-serif;font-size:11pt;font-weight:400;line-height:100%">Total</span></td><td colspan="2" style="border-bottom:1pt solid #bf2115;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Effra Medium',sans-serif;font-size:11pt;font-weight:400;line-height:120%">351 </span></div></td><td style="border-bottom:1pt solid #bf2115;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="2" style="border-bottom:1pt solid #bf2115;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Effra Medium',sans-serif;font-size:11pt;font-weight:400;line-height:120%">922 </span></div></td><td style="border-bottom:1pt solid #bf2115;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr></table></div><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Effra Medium',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Financial income for three months</span></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:65.984%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.357%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.359%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:11pt;font-weight:400;line-height:120%">in CHF thousands, for the three months ended June 30</span></div></td><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Effra Medium',sans-serif;font-size:11pt;font-weight:400;line-height:100%">2026</span></td><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Effra Medium',sans-serif;font-size:11pt;font-weight:400;line-height:100%">2025</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bf373a;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:11pt;font-weight:400;line-height:120%">Interest income on financial assets held at amortized cost</span></div></td><td colspan="2" style="border-top:1pt solid #ee2724;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:11pt;font-weight:400;line-height:100%">38 </span></td><td style="border-top:1pt solid #ee2724;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #ee2724;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:11pt;font-weight:400;line-height:100%">420 </span></td><td style="border-top:1pt solid #ee2724;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:11pt;font-weight:400;line-height:120%">Net foreign exchange gain</span></div></td><td colspan="2" style="padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:11pt;font-weight:400;line-height:100%">3 </span></td><td style="padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:11pt;font-weight:400;line-height:100%">— </span></td><td style="padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #bb3739;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Effra Medium',sans-serif;font-size:11pt;font-weight:400;line-height:120%">Total</span></div></td><td colspan="2" style="border-bottom:1pt solid #ee2724;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Effra Medium',sans-serif;font-size:11pt;font-weight:400;line-height:100%">41 </span></td><td style="border-bottom:1pt solid #ee2724;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #ee2724;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Effra Medium',sans-serif;font-size:11pt;font-weight:400;line-height:100%">420 </span></td><td style="border-bottom:1pt solid #ee2724;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr></table></div> 214000 922000 137000 0 351000 922000 <div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Effra Medium',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Financial expense for six months</span></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:66.246%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.069%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.385%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:11pt;font-weight:400;line-height:120%">in CHF thousands, for the six months ended June 30</span></div></td><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Effra Medium',sans-serif;font-size:11pt;font-weight:400;line-height:100%">2026</span></td><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Effra Medium',sans-serif;font-size:11pt;font-weight:400;line-height:100%">2025</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bf373a;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:11pt;font-weight:400;line-height:120%">Net foreign exchange loss</span></div></td><td colspan="2" style="border-top:1pt solid #ee2724;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:11pt;font-weight:400;line-height:100%">— </span></td><td style="border-top:1pt solid #ee2724;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #ee2724;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:11pt;font-weight:400;line-height:100%">(4,617)</span></td><td style="border-top:1pt solid #ee2724;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:11pt;font-weight:400;line-height:120%">Interest expense on leases</span></div></td><td colspan="2" style="padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:11pt;font-weight:400;line-height:100%">(13)</span></td><td style="padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:11pt;font-weight:400;line-height:100%">(9)</span></td><td style="padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:11pt;font-weight:400;line-height:120%">Other financial expenses</span></div></td><td colspan="2" style="padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:11pt;font-weight:400;line-height:100%">(9)</span></td><td style="padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:11pt;font-weight:400;line-height:100%">(7)</span></td><td style="padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #bf2115;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Effra Medium',sans-serif;font-size:11pt;font-weight:400;line-height:120%">Total</span></div></td><td colspan="2" style="border-bottom:1pt solid #ee2724;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Effra Medium',sans-serif;font-size:11pt;font-weight:400;line-height:100%">(21)</span></td><td style="border-bottom:1pt solid #ee2724;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #ee2724;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Effra Medium',sans-serif;font-size:11pt;font-weight:400;line-height:100%">(4,633)</span></td><td style="border-bottom:1pt solid #ee2724;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div><span style="color:#000000;font-family:'Effra Medium',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Financial expense for three months</span></div><div><span><br/></span></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:65.984%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.357%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.359%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:11pt;font-weight:400;line-height:120%">in CHF thousands, for the three months ended June 30</span></div></td><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Effra Medium',sans-serif;font-size:11pt;font-weight:400;line-height:100%">2026</span></td><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Effra Medium',sans-serif;font-size:11pt;font-weight:400;line-height:100%">2025</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bf373a;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:11pt;font-weight:400;line-height:120%">Net foreign exchange loss</span></div></td><td colspan="2" style="border-top:1pt solid #ee2724;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:11pt;font-weight:400;line-height:100%">— </span></td><td style="border-top:1pt solid #ee2724;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #ee2724;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:11pt;font-weight:400;line-height:100%">(3,494)</span></td><td style="border-top:1pt solid #ee2724;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:11pt;font-weight:400;line-height:120%">Interest expense on leases</span></div></td><td colspan="2" style="padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:11pt;font-weight:400;line-height:100%">(6)</span></td><td style="padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:11pt;font-weight:400;line-height:100%">(4)</span></td><td style="padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:11pt;font-weight:400;line-height:120%">Other financial expenses</span></div></td><td colspan="2" style="padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:11pt;font-weight:400;line-height:100%">(5)</span></td><td style="padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:11pt;font-weight:400;line-height:100%">(3)</span></td><td style="padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #bf2115;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Effra Medium',sans-serif;font-size:11pt;font-weight:400;line-height:120%">Total</span></div></td><td colspan="2" style="border-bottom:1pt solid #ee2724;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Effra Medium',sans-serif;font-size:11pt;font-weight:400;line-height:100%">(11)</span></td><td style="border-bottom:1pt solid #ee2724;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #ee2724;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Effra Medium',sans-serif;font-size:11pt;font-weight:400;line-height:100%">(3,501)</span></td><td style="border-bottom:1pt solid #ee2724;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr></table></div> 0 4617000 13000 9000 9000 7000 21000 4633000 38000 420000 3000 0 41000 420000 0 3494000 6000 4000 5000 3000 11000 3501000 Income taxes<div style="margin-bottom:12pt;padding-right:9pt"><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:11pt;font-weight:400;line-height:120%">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 Switzerla</span><span style="background-color:#ffffff;color:#000000;font-family:'Effra Light',sans-serif;font-size:11pt;font-weight:400;line-height:120%">nd of </span><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:11pt;font-weight:400;line-height:120%">TCHF 252,980</span><span style="background-color:#ffffff;color:#000000;font-family:'Effra Light',sans-serif;font-size:11pt;font-weight:400;line-height:120%"> as of </span><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:11pt;font-weight:400;line-height:120%">December 31, 2025. 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.</span></div> 252980000 Earnings per share<div style="margin-bottom:12pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:65.410%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.644%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.646%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:11pt;font-weight:400;line-height:100%">for the six months ended June 30</span></td><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Effra Medium',sans-serif;font-size:11pt;font-weight:400;line-height:120%">2026</span></div></td><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Effra Medium',sans-serif;font-size:11pt;font-weight:400;line-height:120%">2025</span></div></td></tr><tr><td colspan="3" style="border-top:1pt solid #ee2724;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:11pt;font-weight:400;line-height:100%">Weighted average number of shares used in computing basic and diluted earnings per share</span></td><td colspan="2" style="border-top:1pt solid #bf373a;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:11pt;font-weight:400;line-height:100%">37,906,112 </span></td><td style="border-top:1pt solid #bf373a;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bf373a;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:11pt;font-weight:400;line-height:100%">37,134,928 </span></td><td style="border-top:1pt solid #bf373a;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr></table></div><div style="margin-bottom:12pt"><span><br/></span></div><div style="margin-bottom:12pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:65.410%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.644%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.646%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:11pt;font-weight:400;line-height:100%">for the three months ended June 30</span></td><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Effra Medium',sans-serif;font-size:11pt;font-weight:400;line-height:120%">2026</span></div></td><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Effra Medium',sans-serif;font-size:11pt;font-weight:400;line-height:120%">2025</span></div></td></tr><tr><td colspan="3" style="border-top:1pt solid #ee2724;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:11pt;font-weight:400;line-height:100%">Weighted average number of shares used in computing basic and diluted earnings per share</span></td><td colspan="2" style="border-top:1pt solid #bf373a;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:11pt;font-weight:400;line-height:100%">38,305,237 </span></td><td style="border-top:1pt solid #bf373a;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bf373a;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:11pt;font-weight:400;line-height:100%">37,392,355 </span></td><td style="border-top:1pt solid #bf373a;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr></table></div> <div style="margin-bottom:12pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:65.410%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.644%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.646%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:11pt;font-weight:400;line-height:100%">for the six months ended June 30</span></td><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Effra Medium',sans-serif;font-size:11pt;font-weight:400;line-height:120%">2026</span></div></td><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Effra Medium',sans-serif;font-size:11pt;font-weight:400;line-height:120%">2025</span></div></td></tr><tr><td colspan="3" style="border-top:1pt solid #ee2724;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:11pt;font-weight:400;line-height:100%">Weighted average number of shares used in computing basic and diluted earnings per share</span></td><td colspan="2" style="border-top:1pt solid #bf373a;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:11pt;font-weight:400;line-height:100%">37,906,112 </span></td><td style="border-top:1pt solid #bf373a;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bf373a;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:11pt;font-weight:400;line-height:100%">37,134,928 </span></td><td style="border-top:1pt solid #bf373a;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr></table></div><div style="margin-bottom:12pt"><span><br/></span></div><div style="margin-bottom:12pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:65.410%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.644%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.646%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:11pt;font-weight:400;line-height:100%">for the three months ended June 30</span></td><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Effra Medium',sans-serif;font-size:11pt;font-weight:400;line-height:120%">2026</span></div></td><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Effra Medium',sans-serif;font-size:11pt;font-weight:400;line-height:120%">2025</span></div></td></tr><tr><td colspan="3" style="border-top:1pt solid #ee2724;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:11pt;font-weight:400;line-height:100%">Weighted average number of shares used in computing basic and diluted earnings per share</span></td><td colspan="2" style="border-top:1pt solid #bf373a;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:11pt;font-weight:400;line-height:100%">38,305,237 </span></td><td style="border-top:1pt solid #bf373a;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bf373a;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:11pt;font-weight:400;line-height:100%">37,392,355 </span></td><td style="border-top:1pt solid #bf373a;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr></table></div> 37906112 37906112 37134928 37134928 38305237 38305237 37392355 37392355 Other Comprehensive resultIn 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 components of the remeasurement as of and for the six month period ended June 30, 2026, relate to an increase in the value of the assets held under the defined benefit plan and changes to demographic assumptions. Related parties<div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The Group did not enter into any related party transactions in the interim periods presented.</span></div> Restructuring expense<div style="margin-bottom:12pt"><span style="background-color:#ffffff;color:#000000;font-family:'Effra Light',sans-serif;font-size:11pt;font-weight:400;line-height:120%">On June 10, 2025, Molecular Partners announced a planned operational efficiency initiative (“restructuring 2025”), which included a reduction in headcount within R&amp;D. As a result, 34 positions - primarily in R&amp;D, but also some supporting functions - were impacted.</span></div><div style="margin-bottom:12pt"><span style="background-color:#ffffff;color:#000000;font-family:'Effra Light',sans-serif;font-size:11pt;font-weight:400;line-height:120%">For the six months ended </span><span style="color:#000000;font-family:'Effra Light',sans-serif;font-size:11pt;font-weight:400;line-height:120%">June 30, 2025, the Group recognized TCHF 2,617 as expenses. For the six months ended June 30, 2026, no restructuring expense was recognized and there was no remaining accrual. </span><span style="background-color:#ffffff;color:#000000;font-family:'Effra Light',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The restructuring charges primarily consisted of personnel related cost.</span></div> 34 2617000 0 Events after the balance sheet date <div style="margin-bottom:12pt;padding-right:9pt"><span style="background-color:#ffffff;color:#000000;font-family:'Effra Light',sans-serif;font-size:11pt;font-weight:400;line-height:120%">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.</span></div> See note 5.4