Financial Information
Financial Highlights
| USD '000 | 2018 | 2017 | 2016 | 2015 | 2014 |
| Income Statement | |||||
| Revenue | 39,494 | 30,167* | 9,194 | 2,103 | 20,847* |
| Production costs | (7,918) | (5,202) | (3,019) | (2,250) | (549) |
| Gross profit | 31,576 | 24,965 | 6,175 | (147) | 20,299 |
| Selling, general and administrative costs | (35,611) | (32,458) | (34,407) | (17,808) | (14,976) |
| Research and development costs | (1,801) | (866) | (636) | (11,345) | (15,224) |
| Other operating income | - | - | 100 | - | - |
| Operating result | (5,836) | (8,359) | (28,768) | (29,300) | (9,901) |
| Net financial income / (expenses) | (6,016) | (2,090) | (45) | 2,168 | 3,531 |
| Result before tax | (11,852) | (10,449) | (28,813) | (27,132) | (6,369) |
| Tax for the period | 6,567 | 907 | 18,678 | 953 | 234 |
| Net result for the period | (5,285) | (9,542) | (10,135) | (26,179) | (6,136) |
| Statement of Financial Position | |||||
| Cash and cash equivalents | 30,520 | 7,766 | 3,359 | 15,763 | 44,178 |
| Total assets | 77,117 | 41,921 | 29,884 | 21,809 | 47,983 |
| Total equity | 4,614 | 5,316 | 10,195 | 13,127 | 41,371 |
| Investment in property, plant and equipment | 251 | 564 | 176 | 48 | 295 |
| Cash Flow Statement | |||||
| Cash flow from operating activities | (11,265) | (7,710) | (28,057) | (26,392) | (13,050) |
| Cash flow from investing activities | (251) | (564) | (176) | (48) | (430) |
| Cash flow from financing activities | 34,371 | 12,435 | 15,981 | 48 | 167 |
| Cash and cash equivalents at period end | 30,520 | 7,766 | 3,359 | 15,763 | 44,178 |
| Financial Ratios | |||||
| Basic and diluted EPS (DKK) | (0.00) | (0.01) | (0.01) | (0.02) | (0.02) |
| Weighted average number of shares | 1,713,188,778 | 1,708,325,635 | 1,688,679,397 | 1,663,334,241 | 1,662,266,639 |
| Average number of employees (FTEs) | 55 | 51 | 54 | 38 | 26 |
| Assets/equity | 16.71 | 7.89 | 2.93 | 1.66 | 1.16 |
| Share price DKK | 2.19 | 0.86 | 1.08 | 1.75 | 1.15 |
| Average exchange rates DKK/USD | 6.3521 | 6.5301 | 6.6940 | 6.7269 | 5.6190 |
| Period End exchange rate DKK/USD | 6.5204 | 6.2019 | 7.0460 | 6.8300 | 6.1214 |
* These revenue amounts include upfront payments of USD 8,250 for 2017 and milestone payments of USD 20,304 for 2014.