Take a look at our previous reports:

Risk factors

We refer to the description of risk factors in our 2022 annual report, pp. 52–68, as supplemented by the description of risk factors in our annual report on Form 20-F filed with the U.S. Securities and Exchange Commission, pp. 4–56. In summary of the foregoing, the principal risks and uncertainties faced by us relate to and include, but are not limited to: commercialization, product development and regulatory approval; our financial position and need for additional capital; our reliance on third parties; our competitive position; our intellectual property; our organization, structure and operation (including the emergence of pandemics such as COVID-19); and market risks relating to our shares and ADSs.

We also refer to the description of the group’s financial risk management given in the 2022 annual report, pp. 229–232, which remains valid and unaltered.

All activities required to bring a new drug to the market. This includes preclinical and clinical development research, chemical and pharmaceutical development and regulatory filings of product candidates
Intellectual property
Creations of the mind that have commercial value and are protected or protectable, including by patents, trademarks or copyrights