Company: NYXH
Filing Date: 2025-03-20
Form Type: 20-F
Source: 0001410578-25-000398
Chunk: 18

Company: Nyxoah SA
Filing Date: 2025-03-20
Form: 20-F
Item: Item 5
Chunk 18
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 with any product recall that may occur;
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●   the effect of competing technological and market developments;
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●   the extent to which we acquire or invest in products, technologies and businesses; and
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●   the costs of operating as a dual listed public company.
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110

We have consistently operated with deficits and sustained negative cash flows since our inception considering the significant research and development expenses incurred for the development and regulatory approval of the Genio device. As of December 31, 2024, our statement of financial position includes an accumulated loss of €217.7 million and total assets of €158.4 million. Current assets as of December 31, 2024 total €98.1 million, comprising €34.2 million in available cash and cash equivalents, and €51.4 million in marketable securities, primarily derived from previous public offerings.
Based on cash flow forecasts for the upcoming years, which include significant expenses and cash outflows in relation to, among others, the ongoing clinical trials, the continuation of research and development projects, and the scaling-up of our manufacturing facilities, in support of our commercial launch of the Genio product in the United States, we believe that this cash position will be sufficient to meet our capital requirements and fund our operations for at least 12 months as from the date of this Annual Report. In view of the above, and notwithstanding a loss brought forward of €217.7 million as of December 31, 2024, the Board of Directors has decided, after due consideration including risks associated with potential delays in FDA approval or slower than expected US commercial success, that the application of the valuation rules in the assumption of a “going concern” is justified.
Contractual Obligations
The following table sets out our contractual obligations and commitments due by period as of December 31, 2024:
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       ​           ​      ​         ​      ​         ​          ​                 ​              
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​                  ​   2024                                                                      
(in EUR 000)       ​   Lease Liability     ​   Financial Debt   ​   Trade &amp; Other Liabilities
Less than 1 year       ​           1,235   801                                             15,392
1 - 5 years            ​           2,221               21,080   963                              
5+ years               ​             620                7,042                                   —
TOTAL              ​   €           4,076               28,923                              16,355