Nyxoah(US:NYXH)2026-03-26 20:01Financing and Capital - The company has raised a total of €310.6 million in equity financing since inception, including €103.6 million from an IPO on Euronext in September 2020 and €75.0 million from an IPO on Nasdaq in July 2021[678]. - The company plans to file a new shelf registration statement on Form F-3 on March 20, 2025, to register the offer and sale of up to $200.0 million of its securities[678]. - Net cash from financing activities decreased to €38.1 million in 2025 from €77.4 million in 2024, reflecting several capital increases during the year[682]. Financial Position - As of December 31, 2025, the company reported cash and cash equivalents of €30.0 million and an accumulated deficit of €305.6 million[688]. - The company has significant contractual obligations totaling €27.96 million in financial debt and €15.49 million in trade and other liabilities due within one year[690]. Operating Performance - Net cash used in operating activities increased to €68.0 million in 2025 from €49.2 million in 2024, primarily due to higher research and development expenses[680]. - The company expects to incur operating losses and generate negative cash flows due to ongoing investments for the U.S. commercial launch and clinical trials, with cash runway extending into Q1 2027[689]. - The company has consistently operated with deficits and sustained negative cash flows since inception, primarily due to high research and development costs for the Genio device[688]. Research and Development - Research and development expenses are expected to decrease in the near term due to the closure of the Israel R&D department and reduced costs related to clinical studies[687]. Currency Risk - The company is minimally exposed to currency risk, with potential impacts on net loss from fluctuations in USD, NIS, and AUD against the Euro[929].