Net loss of EUR 17.1 million for the nine months ended September 30, 2023, compares to
EUR 18.9 million for the nine months ended September 30, 2022.
The Company held EUR 17.0 million in cash and cash equivalents as of September 30, 2023,
compared to EUR 26.6 million as of December 31, 2022. In the nine months ended September
30, 2023, the Company entered into Euro term deposits of EUR 16.0 million resulting in a
disclosure of these funds in the balance sheet as financial assets. Combining the cash and cash
equivalents with the term deposits, Vivoryon has EUR 33.0 million in liquid funds at its disposal.
Cash flows used in operating activities were EUR (33.3) million for the nine months ended
September 30, 2023, compared to EUR (14.7) million in the nine months ended
September 30, 2022. The change in operating cash flow by EUR (18.5) million mainly results
from newly disclosed term deposits with a term of more than three months of EUR (16.0)
million that are disclosed in the Company`s financial assets and not in cash equivalents as well
as other changes in working capital. Excluding this shift in cash to term deposits, cash flows
used in operating activities would have been EUR (17.3) million.