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"fact1221": {
"value": "1.1 CORPORATE
INFORMATION \u00a0
\n\t\t\t\t\tNordic Nanovector ASA (the company) is a limited company incorporated and domiciled in Norway. The parent company, Nordic
\n\t\t\t\t\tNanovector ASA, is in the annual accounts referred to as \u201cPARENT\u201d\ufffd \u00a0
\n\t\t\t\t\tThe address of the registered of\ufb01ce is: Kjels\u00e5sveien 168 B, 0884 Oslo.
\n\t\t\t\t\tNordic Nanovector is a leader in the development of CD37-targeted radionuclide therapies for haematological cancers\ufffd \u00a0
\n\t\t\t\t\tNordic Nanovector\u2019s pipeline includes: \u00a0
\n\t\t\t\t\t\u2022
\n\t\t\t\t\tBetalutin\u00ae, clinically safe and effective CD37-targeting radioimmunotherapy incorporating the beta emitter lutetium-177 and the \u00a0
\n\t\t\t\t\tmurine antibody lilotomab for treatment of non-Hodgkin\u2019s lymphoma (NHL) \u00a0
\n\t\t\t\t\t\u2022
\n\t\t\t\t\tHumalutin\u00ae, IND ready CD37-targeting radioimmunotherapy incorporating the beta emitter lutetium-177 and the chimeric \u00a0
\n\t\t\t\t\tantibody NNV003 for treatment of non-Hodgkin\u2019s lymphoma (NHL) \u00a0
\n\t\t\t\t\t\u2022
\n\t\t\t\t\t89Zr-NNV003, CD37-targeting companion PET diagnostic for detection and dosimetry of CD37 expressing tumors \u00a0
\n\t\t\t\t\t\u2022
\n\t\t\t\t\tAlpha37, a CD37-targeting radioimmunotherapy candidate incorporating the alpha-particle generating radionuclide lead-212, \u00a0
\n\t\t\t\t\tcurrently being explored with partner Orano Med for chronic lymphocytic leukaemia \u00a0
\n\t\t\t\t\t\u2022
\n\t\t\t\t\tMultiple fully humanized anti-CD37 antibodies with different effector mechanisms for treatment of haematological cancers and \u00a0
\n\t\t\t\t\tautoimmune diseases; and A CD37-targeting CAR-T cell opportunity in haematological cancers, which is being advanced via a \u00a0
\n\t\t\t\t\tresearch collaboration with the University of Pennsylvania \u00a0
\n\t\t\t\t\t\u2022
\n\t\t\t\t\tUndisclosed discovery projects in solid tumor indications \u00a0
Nordic Nanovector ASA is a public limited company incorporated and domiciled in Norway and is the parent company of the group. \u00a0
\n\t\t\t\t\tThe group\u2019s operations are carried out by the parent company and its wholly-owned subsidiaries Nordic Nanovector GmbH and \u00a0
\n\t\t\t\t\tNordic Nanovector Ltd. Nordic Nanovector GmbH is incorporated in Zug, Switzerland, with its registered address at Dammstrasse \u00a0
\n\t\t\t\t\t19, 6300 Zug, Switzerland. Nordic Nanovector Ltd is incorporated in London, England, with its registered address at 1 Brassey \u00a0
\n\t\t\t\t\tRoad, Shrewsbury SY3 7FA, United Kingdom. \u00a0
\n\t\t\t\t\tNordic Nanovector also had operations in Denmark through Nordic Nanovector DK, a branch of Nordic Nanovector ASA\ufffd The branch \u00a0
\n\t\t\t\t\twas established in October 2017 and is reported as costs incurred in the parent. The branch was closed down in December 2022. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfGeneralInformationAboutFinancialStatementsExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXG6DK30",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact1223": {
"value": "1.1 CORPORATE
INFORMATION \u00a0
\n\t\t\t\t\tNordic Nanovector ASA (the company) is a limited company incorporated and domiciled in Norway. The parent company, Nordic
\n\t\t\t\t\tNanovector ASA, is in the annual accounts referred to as \u201cPARENT\u201d\ufffd \u00a0
\n\t\t\t\t\tThe address of the registered of\ufb01ce is: Kjels\u00e5sveien 168 B, 0884 Oslo.
\n\t\t\t\t\tNordic Nanovector is a leader in the development of CD37-targeted radionuclide therapies for haematological cancers\ufffd \u00a0
\n\t\t\t\t\tNordic Nanovector\u2019s pipeline includes: \u00a0
\n\t\t\t\t\t\u2022
\n\t\t\t\t\tBetalutin\u00ae, clinically safe and effective CD37-targeting radioimmunotherapy incorporating the beta emitter lutetium-177 and the \u00a0
\n\t\t\t\t\tmurine antibody lilotomab for treatment of non-Hodgkin\u2019s lymphoma (NHL) \u00a0
\n\t\t\t\t\t\u2022
\n\t\t\t\t\tHumalutin\u00ae, IND ready CD37-targeting radioimmunotherapy incorporating the beta emitter lutetium-177 and the chimeric \u00a0
\n\t\t\t\t\tantibody NNV003 for treatment of non-Hodgkin\u2019s lymphoma (NHL) \u00a0
\n\t\t\t\t\t\u2022
\n\t\t\t\t\t89Zr-NNV003, CD37-targeting companion PET diagnostic for detection and dosimetry of CD37 expressing tumors \u00a0
\n\t\t\t\t\t\u2022
\n\t\t\t\t\tAlpha37, a CD37-targeting radioimmunotherapy candidate incorporating the alpha-particle generating radionuclide lead-212, \u00a0
\n\t\t\t\t\tcurrently being explored with partner Orano Med for chronic lymphocytic leukaemia \u00a0
\n\t\t\t\t\t\u2022
\n\t\t\t\t\tMultiple fully humanized anti-CD37 antibodies with different effector mechanisms for treatment of haematological cancers and \u00a0
\n\t\t\t\t\tautoimmune diseases; and A CD37-targeting CAR-T cell opportunity in haematological cancers, which is being advanced via a \u00a0
\n\t\t\t\t\tresearch collaboration with the University of Pennsylvania \u00a0
\n\t\t\t\t\t\u2022
\n\t\t\t\t\tUndisclosed discovery projects in solid tumor indications \u00a0
Section 2 - General accounting policies \u00a0
\n\t\t\t\t\tThe principal accounting policies applied in the preparation of these \ufb01nancial statements are set out below. These policies have \u00a0
\n\t\t\t\t\tbeen consistently applied in all periods presented. Amounts are in Norwegian kroner (NOK) unless stated otherwise. The functional \u00a0
\n\t\t\t\t\tcurrency of Nordic Nanovector ASA is NOK\ufffd
2.1 BASIS
FOR PREPARATION OF THE ANNUAL ACCOUNTS \u00a0
\n\t\t\t\t\tThe consolidated \ufb01nancial statements for the group and the parent have been prepared in accordance with EU-approved \u00a0
\n\t\t\t\t\tInternational Financial Reporting Standards (IFRS) and Interpretations issued by the International Accounting Standards Board \u00a0
\n\t\t\t\t\t(IASB) and disclosure requirements in accordance with the Norwegian Accounting Act. Only standards that are effective for the \u00a0
\n\t\t\t\t\t\ufb01scal year ended 31 December 2022 have been applied. \u00a0
\n\t\t\t\t\tThe \ufb01nancial statements have been prepared on the historical cost basis. The preparation of \ufb01nancial statements in conformity \u00a0
\n\t\t\t\t\twith IFRS requires the use of certain critical accounting estimates. It also requires management to exercise its judgments in \u00a0
\n\t\t\t\t\tapplying the group\u2019s accounting policies. \u00a0
\n\t\t\t\t\tAreas involving a high degree of judgment or complexity, and areas in which assumptions and estimates are signi\ufb01cant to the \u00a0
\n\t\t\t\t\t\ufb01nancial statements are disclosed in note 2.4. The consolidated \ufb01nancial statements have been prepared on the basis of uniform \u00a0
\n\t\t\t\t\taccounting principles for similar transactions and events under otherwise similar circumstances. \u00a0
Going concern \u00a0
\n\t\t\t\t\tThe company works continuously to ensure \ufb01nancial \ufb02exibility in the short and long-term to achieve its strategic and operational \u00a0
\n\t\t\t\t\tobjectives. To date, the company has \ufb01nanced its operations through private placements, grants, repair offerings and the initial \u00a0
\n\t\t\t\t\tpublic offering in connection with the listing of the company\u2019s shares on Oslo B\u00f8rs in 2015. In January 2022 the company raised \u00a0
\n\t\t\t\t\tapproximately NOK 250 million in gross proceeds in a private placement\ufffd \u00a0
\n\t\t\t\t\tFollowing the decisions in 2022 to discontinue the PARADIGME study and implement a restructuring of the company, Nordic \u00a0
\n\t\t\t\t\tNanovector believes that the best interests of shareholders will be served by thoroughly exploring all strategic options that may be \u00a0
\n\t\t\t\t\tavailable. As a publicly quoted company with a listing in Norway, remaining cash resources and a pipeline of CD37-targeted assets, \u00a0
\n\t\t\t\t\tthe company believes that there is an opportunity to crystalise value for shareholders through a potential strategic transaction\ufffd \u00a0
\n\t\t\t\t\tThe company will continue as an R&D company until it \ufb01nds a new owner or partner that can secure new funding and support the \u00a0
\n\t\t\t\t\tongoing programmes. The board and management continue to explore all strategic options and are in close contact with potential \u00a0
\n\t\t\t\t\tpartners. However, if the company is not successful in \ufb01nding a new partner or funding, the board will have no option other than to \u00a0
\n\t\t\t\t\twind up the business. No assurances can be given as to the outcome or timing of the ongoing review process. \u00a0
\n\t\t\t\t\tSeveral measures have been implemented to reduce the burn rate and the company\u2019s current net cash is, under the current \u00a0
\n\t\t\t\t\toperating model, expected to \ufb01nance its ongoing operations into the second quarter of 2024. The company has also identi\ufb01ed \u00a0
\n\t\t\t\t\tadditional cost reductions by scaling down R&D project costs and staff, admin staff and other advisory costs that can be \u00a0
\n\t\t\t\t\timplemented if needed, to extend the cash runway or reallocate existing cash resources. \u00a0
\n\t\t\t\t\tThe board of directors has con\ufb01rmed that the conditions for assuming that the group is a going concern are present, and that the \u00a0
\n\t\t\t\t\t\ufb01nancial statements have been prepared based on this assumption. \u00a0
2.2 CONSOLIDATION
PRINCIPLES \u00a0
\n\t\t\t\t\tThe group\u2019s consolidated \ufb01nancial statements comprise the parent company and its subsidiaries as of 31 December 2022. An \u00a0
\n\t\t\t\t\tentity has been assessed as being controlled by the group when the group is exposed for or has the rights to variable returns from \u00a0
\n\t\t\t\t\tits involvement with the entity, and has the ability to use its decision over the entity to affect the amount of the group\u2019s returns. \u00a0
\n\t\t\t\t\tThus, the group controls an entity if, and only if, the group has all the following: \u00a0
\n\t\t\t\t\t\u2022 Power over the entity. \u00a0
\n\t\t\t\t\t\u2022 The exposure, or rights, to variable returns from its involvement with the entity. \u00a0
\n\t\t\t\t\t\u2022 The ability to use its power over the entity to affect the amount of the group\u2019s returns. \u00a0
\n\t\t\t\t\tThere is a presumption that if the group has the majority of the voting rights in an entity, the entity is considered as a subsidiary\ufffd \u00a0
\n\t\t\t\t\tTo support this presumption and when the group has less than a majority of the voting or similar rights of an investee, the group \u00a0
\n\t\t\t\t\tconsiders all relevant facts and circumstances in assessing whether it has power over the entity, including ownership interests, \u00a0
voting rights, ownership structure and relative power, as well as options controlled by the group and shareholder\u2019s agreement or \u00a0
\n\t\t\t\t\tother contractual agreements. The assessments are done for each individual investment. The group reassesses whether or not \u00a0
\n\t\t\t\t\tit controls an entity if facts and circumstances indicate that there are changes to one or more of the three elements of control\ufffd \u00a0
\n\t\t\t\t\tConsolidation of a subsidiary begins when the group obtains control over the subsidiary and ceases when the group loses control \u00a0
\n\t\t\t\t\tof the subsidiary. Pro\ufb01t or loss and each component of other comprehensive income (OCI) are attributed to the equity holders \u00a0
\n\t\t\t\t\tof the parent of the group and to the non-controlling interests, even if this results in the non-controlling interests having a de\ufb01cit \u00a0
\n\t\t\t\t\tbalance. When necessary, adjustments are made to the \ufb01nancial statements of subsidiaries to bring their accounting policies into \u00a0
\n\t\t\t\t\tline with the group\u2019s accounting policies. All intra-group assets and liabilities, equity, income, expenses and cash \ufb02ows relating to \u00a0
\n\t\t\t\t\ttransactions between members of the group are eliminated in full on consolidation. \u00a0
2.3 FUNCTIONAL
CURRENCY AND PRESENTATION CURRENCY \u00a0
\n\t\t\t\t\tThe functional currency is determined in each entity in the group based on the currency within the entity\u2019s primary economic \u00a0
\n\t\t\t\t\tenvironment\ufffd Transactions in foreign currency are translated to functional currency using the exchange rate at the date of the \u00a0
\n\t\t\t\t\ttransaction\ufffd At the end of each reporting period foreign currency monetary items are translated using the closing rate\ufffd Currency \u00a0
\n\t\t\t\t\tgains or losses are classi\ufb01ed as \ufb01nancial items. Non-monetary items that are measured in terms of historical cost are translated \u00a0
\n\t\t\t\t\tusing the exchange rate at the date of the transaction, and non-monetary items that are measured at fair value in a foreign \u00a0
\n\t\t\t\t\tcurrency are translated using the exchange rates at the date when the fair value was measured. Changes in the exchange rate are \u00a0
\n\t\t\t\t\trecognised continuously in the accounting period\ufffd \u00a0
\n\t\t\t\t\tThe group\u2019s presentation currency is NOK. This is also the parent company\u2019s functional currency. The statement of \ufb01nancial \u00a0
\n\t\t\t\t\tposition \ufb01gures of entities with a different functional currency are translated at the exchange rate prevailing at the end of the \u00a0
\n\t\t\t\t\treporting period for balance sheet items, and the exchange rate at the date of the transaction for pro\ufb01t and loss items. The monthly \u00a0
\n\t\t\t\t\taverage exchange rates are used as an approximation of the transaction exchange rate\ufffd Exchange differences are recognised in \u00a0
\n\t\t\t\t\tother comprehensive income (OCI)\ufffd \u00a0
2.4 SIGNIFICANT
ACCOUNTING JUDGEMENTS, ESTIMATES AND ASSUMPTIONS \u00a0
\n\t\t\t\t\tCritical accounting estimates and judgements \u00a0
\n\t\t\t\t\tManagement makes estimates and assumptions that affect the reported amounts of assets and liabilities within the next \ufb01nancial \u00a0
\n\t\t\t\t\tyear\ufffd Estimates and judgements are evaluated on an on-going basis and are based on historical experience and other factors, \u00a0
\n\t\t\t\t\tincluding expectations of future events that are considered to be relevant\ufffd \u00a0
Critical judgements in applying the group\u2019s accounting policies \u00a0
\n\t\t\t\t\tDeferred tax \u00a0
\n\t\t\t\t\tThe company considers that a deferred tax asset related to accumulated tax losses cannot be recognised in the statement of \u00a0
\n\t\t\t\t\t\ufb01nancial position until the product under development has been approved for marketing by the relevant authorities. However, this \u00a0
\n\t\t\t\t\tassumption is continually assessed and changes could lead to signi\ufb01cant deferred tax asset being recognised in the future. This \u00a0
\n\t\t\t\t\tassumption requires signi\ufb01cant management judgment. See note 7.1. \u00a0
Development costs \u00a0
\n\t\t\t\t\tResearch and development costs are recognised in the income statement as incurred\ufffd Internal development costs related to the \u00a0
\n\t\t\t\t\tgroup\u2019s development of products are recognised in the income statement in the year in which it is incurred, unless it meets the \u00a0
\n\t\t\t\t\trecognition criteria of IAS 38 intangible assets\ufffd Uncertainties related to the regulatory approval process and other factors generally \u00a0
\n\t\t\t\t\tmeans that the criteria are not met until the time when the marketing authorisation is obtained with the regulatory authorities. This \u00a0
\n\t\t\t\t\tassessment requires signi\ufb01cant management judgement. \u00a0
Key sources of estimation uncertainty - critical accounting estimates \u00a0
\n\t\t\t\t\tShare-based payments \u00a0
\n\t\t\t\t\tEquity-settled share-based payments are measured at the fair value of the equity instruments at the grant date\ufffd Calculation of fair \u00a0
\n\t\t\t\t\tvalue involves estimates and assumptions\ufffd Measurement inputs include share price on measurement date, exercise price of the \u00a0
\n\t\t\t\t\tinstrument, expected volatility, weighted average expected life of the instruments, expected dividends, and the risk-free interest \u00a0
\n\t\t\t\t\trate\ufffd At the end of each reporting period, the group revises its estimates of the number of equity instruments that are expected to \u00a0
\n\t\t\t\t\tvest. It recognises the impact of the revision to original estimates, if any, in pro\ufb01t or loss, with a corresponding adjustment to equity. \u00a0
\n\t\t\t\t\tChanges to the estimates may signi\ufb01cantly in\ufb02uence the expense recognised during a period. The assumptions and models used \u00a0
\n\t\t\t\t\tfor estimating fair value for share based payment transactions are disclosed in note 6\ufffd3\ufffd \u00a0
3.1 OTHER
OPERATING EXPENSES \u00a0
Accounting policy \u00a0
\n\t\t\t\t\tOther operating expenses are recognised in the statement of pro\ufb01t and loss in the period which the related costs are incurred or \u00a0
\n\t\t\t\t\tservices are provided\ufffd For additional information on calculation of costs related to share based payments as RSUs see note 6\ufffd3 \u00a0
\n\t\t\t\t\tand 6\ufffd3\ufffd2\ufffd \u00a0
PARENT \u00a0
\n\t\t\t\t\tGROUP \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\tNote \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t(Amounts in NOK 1 000) \u00a0
\n\t\t\t\t\t313 023 \u00a0
\n\t\t\t\t\t197 869
Research and development costs \u00a0
\n\t\t\t\t\t3\ufffd5 \u00a0
\n\t\t\t\t\t202 541 \u00a0
\n\t\t\t\t\t317 981 \u00a0
\n\t\t\t\t\t-4 725 \u00a0
\n\t\t\t\t\t-4 589
Government grants \u00a0
\n\t\t\t\t\t3\ufffd3 \u00a0
\n\t\t\t\t\t-4 589 \u00a0
\n\t\t\t\t\t-4 725 \u00a0
\n\t\t\t\t\t1 279 \u00a0
\n\t\t\t\t\t907 Cost of share based payment (RSUs) \u00a0
\n\t\t\t\t\t6\ufffd3 \u00a0
\n\t\t\t\t\t907 \u00a0
\n\t\t\t\t\t1 279 \u00a0
\n\t\t\t\t\t64 571 \u00a0
\n\t\t\t\t\t62 340
Charges from group companies \u00a0
\n\t\t\t\t\t8\ufffd2 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t22 395 \u00a0
\n\t\t\t\t\t26 849
Other administrative costs \u00a0
\n\t\t\t\t\t28 773 \u00a0
\n\t\t\t\t\t24 890 \u00a0
\n\t\t\t\t\t396 543 \u00a0
\n\t\t\t\t\t283 376
Total other operating expenses \u00a0
\n\t\t\t\t\t227 632 \u00a0
\n\t\t\t\t\t339 425 \u00a0
\n\t\t\t\t\tOther administrative costs include NOK 7.2 million in expenses directly related to the proposed merger with APIM Therapeutics \u00a0
\n\t\t\t\t\tAS, which was voted down on the EGM in December 2022 \u00a0
3.2 PAYROLL
AND RELATED EXPENSES \u00a0
Accounting policy \u00a0
\n\t\t\t\t\tPayroll and related expenses are recognised in the statement of pro\ufb01t and loss in the period which the related costs are incurred \u00a0
\n\t\t\t\t\tor services are provided\ufffd For additional information on calculation of costs related to share based payments as options and PSUs \u00a0
\n\t\t\t\t\tsee note 6\ufffd3, 6\ufffd3\ufffd1 and 6\ufffd3\ufffd3\ufffd \u00a0
PARENT \u00a0
\n\t\t\t\t\tGROUP \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t(Amounts in NOK 1 000) \u00a0
\n\t\t\t\t\tNote \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t28 250 \u00a0
\n\t\t\t\t\t27 129 \u00a0
\n\t\t\t\t\tSalaries and bonus \u00a0
\n\t\t\t\t\t6\ufffd2, 6\ufffd3 \u00a0
\n\t\t\t\t\t68 760 \u00a0
\n\t\t\t\t\t71 017 \u00a0
\n\t\t\t\t\t3 895 \u00a0
\n\t\t\t\t\t3 984 \u00a0
\n\t\t\t\t\tSocial security tax \u00a0
\n\t\t\t\t\t8 676 \u00a0
\n\t\t\t\t\t8 575 \u00a0
\n\t\t\t\t\t1 673 \u00a0
\n\t\t\t\t\t1 701 \u00a0
\n\t\t\t\t\tPension expense \u00a0
\n\t\t\t\t\t6\ufffd5 \u00a0
\n\t\t\t\t\t4 907 \u00a0
\n\t\t\t\t\t3 165 \u00a0
\n\t\t\t\t\t2 495 \u00a0
\n\t\t\t\t\t-1 487 \u00a0
\n\t\t\t\t\tShare based payment employees \u00a0
\n\t\t\t\t\t6\ufffd3 \u00a0
\n\t\t\t\t\t-4 209 \u00a0
\n\t\t\t\t\t6 313 \u00a0
\n\t\t\t\t\t539 \u00a0
\n\t\t\t\t\t-869 \u00a0
\n\t\t\t\t\tAccrued employer's social security on share based payment \u00a0
\n\t\t\t\t\t6\ufffd3 \u00a0
\n\t\t\t\t\t-1 640 \u00a0
\n\t\t\t\t\t1 000 \u00a0
\n\t\t\t\t\t850 \u00a0
\n\t\t\t\t\t498 \u00a0
\n\t\t\t\t\tOther \u00a0
\n\t\t\t\t\t2 244 \u00a0
\n\t\t\t\t\t2 020 \u00a0
\n\t\t\t\t\t-452 \u00a0
\n\t\t\t\t\t-211 \u00a0
\n\t\t\t\t\tGovernment grants \u00a0
\n\t\t\t\t\t3\ufffd3 \u00a0
\n\t\t\t\t\t-211 \u00a0
\n\t\t\t\t\t-452 \u00a0
\n\t\t\t\t\t37 250 \u00a0
\n\t\t\t\t\t30 745 \u00a0
\n\t\t\t\t\tTotal payroll and related expenses \u00a0
\n\t\t\t\t\t78 527 \u00a0
\n\t\t\t\t\t91 638 \u00a0
22\ufffd3 \u00a0
\n\t\t\t\t\t21\ufffd4 \u00a0
\n\t\t\t\t\tAverage number of full-time equivalent employees \u00a0
\n\t\t\t\t\t35\ufffd9 \u00a0
\n\t\t\t\t\t38\ufffd9 \u00a0
3.3 GOVERNMENT
GRANTS \u00a0
Accounting policy \u00a0
\n\t\t\t\t\tGovernment grants are recognised where there is reasonable assurance that the grant will be received and all attached conditions \u00a0
\n\t\t\t\t\twill be complied with. The grant is recognised in the income statement in the same period as the related costs, which are presented \u00a0
\n\t\t\t\t\tnet\ufffd \u00a0
\n\t\t\t\t\tGovernment grants are normally related to either reimbursements of employee costs and classi\ufb01ed as a reduction of payroll and \u00a0
\n\t\t\t\t\trelated expenses or related to other operating activities and thus classi\ufb01ed as a reduction of other operating expenses. \u00a0
PARENT \u00a0
\n\t\t\t\t\tGROUP \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\tNote \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t(Amounts in NOK 1 000) \u00a0
\n\t\t\t\t\tGovernment grants have been recognised in the \u00a0
\n\t\t\t\t\tstatement of pro\ufb01t or loss as a reduction for the \u00a0
\n\t\t\t\t\trelated expenses with the following amounts: \u00a0
\n\t\t\t\t\t452 \u00a0
\n\t\t\t\t\t211 \u00a0
\n\t\t\t\t\tPayroll and related expenses \u00a0
\n\t\t\t\t\t3\ufffd2 \u00a0
\n\t\t\t\t\t211 \u00a0
\n\t\t\t\t\t452 \u00a0
\n\t\t\t\t\t4 725 \u00a0
\n\t\t\t\t\t4 589 \u00a0
\n\t\t\t\t\tOther operating expenses \u00a0
\n\t\t\t\t\t3\ufffd1 \u00a0
\n\t\t\t\t\t4 589 \u00a0
\n\t\t\t\t\t4 725 \u00a0
\n\t\t\t\t\t5 177 \u00a0
\n\t\t\t\t\t4 800 \u00a0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\t4 800 \u00a0
\n\t\t\t\t\t5 177 \u00a0
\n\t\t\t\t\tGrants receivable are detailed as follows: \u00a0
\n\t\t\t\t\t4 750 \u00a0
\n\t\t\t\t\t4 750 \u00a0
\n\t\t\t\t\tGrants from SkatteFUNN \u00a0
\n\t\t\t\t\t4 750 \u00a0
\n\t\t\t\t\t4 750 \u00a0
\n\t\t\t\t\t4 750 \u00a0
\n\t\t\t\t\t4 750 \u00a0
\n\t\t\t\t\tTotal 31\ufffd12 \u00a0
\n\t\t\t\t\t3\ufffd4 \u00a0
\n\t\t\t\t\t4 750 \u00a0
\n\t\t\t\t\t4 750 \u00a0
\n\t\t\t\t\t1) Research and development projects have been approved for SkatteFUNN grants through 2023. For the \ufb01nancial period ended 31 December 2022, \u00a0
\n\t\t\t\t\tthe company has recognised NOK 4.8 million compared to NOK 4.8 million for the same period in 2021. The amount was recognised partly as a \u00a0
\n\t\t\t\t\treduction of payroll and related expenses and partly as a reduction of other operating expenses. \u00a0
\n\t\t\t\t\t2) The company has \ufb01nalised the discovery phase of its Alpha37 R&D collaboration with Orano Med. Alpha37 leverages Nordic Nanovector\u2019s chimeric \u00a0
\n\t\t\t\t\tanti-CD37 antibody, NNV003, chelated with the alpha particle generating radionuclide 212Pb; for potential treatment of NHL and chronic lymphocytic \u00a0
\n\t\t\t\t\tleukemia (CLL). For the \ufb01nancial period ended 31 December 2021, the company recognised NOK 0.4 million partly as a reduction of payroll and \u00a0
\n\t\t\t\t\trelated expenses and other operating expenses. \u00a0
\n\t\t\t\t\t3) For the \ufb01nancial period ended 31 December 2022, the company has recognised NOK 0.1 million compared to NOK 0.0 million for the same period in \u00a0
\n\t\t\t\t\t2021, for grants received for a collaboration project with Thor Medical. \u00a0
3.4 OTHER
CURRENT RECEIVABLES AND PREPAYMENTS \u00a0
Accounting policy \u00a0
\n\t\t\t\t\tIn determining the recoverability of other receivable, the company performs a risk analysis considering the type and the age of the \u00a0
\n\t\t\t\t\toutstanding receivable and the creditworthiness of the counterparties. \u00a0
PARENT \u00a0
\n\t\t\t\t\tGROUP \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\tNote \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t(Amounts in NOK 1 000) \u00a0
\n\t\t\t\t\t4 750 \u00a0
\n\t\t\t\t\t4 750 \u00a0
\n\t\t\t\t\tGovernment grants \u00a0
\n\t\t\t\t\t3\ufffd3 \u00a0
\n\t\t\t\t\t4 750 \u00a0
\n\t\t\t\t\t4 750 \u00a0
\n\t\t\t\t\t4 163 \u00a0
\n\t\t\t\t\t2 732 \u00a0
\n\t\t\t\t\tRefundable VAT \u00a0
\n\t\t\t\t\t2 906 \u00a0
\n\t\t\t\t\t4 182 \u00a0
\n\t\t\t\t\t1 956 \u00a0
\n\t\t\t\t\t641 \u00a0
\n\t\t\t\t\tPrepaid expenses \u00a0
\n\t\t\t\t\t877 \u00a0
\n\t\t\t\t\t2 182 \u00a0
\n\t\t\t\t\t1 548 \u00a0
\n\t\t\t\t\t1 548 \u00a0
\n\t\t\t\t\tRental deposits \u00a0
\n\t\t\t\t\t1 588 \u00a0
\n\t\t\t\t\t1 576 \u00a0
\n\t\t\t\t\t101 \u00a0
\n\t\t\t\t\t15 \u00a0
\n\t\t\t\t\tOther receivables \u00a0
\n\t\t\t\t\t271 \u00a0
\n\t\t\t\t\t333 \u00a0
\n\t\t\t\t\t12 518 \u00a0
\n\t\t\t\t\t9 686 \u00a0
\n\t\t\t\t\tOther current receivables and prepayments 31.12 \u00a0
\n\t\t\t\t\t10 392 \u00a0
\n\t\t\t\t\t13 023 \u00a0
3.5 RESEARCH
AND DEVELOPMENT EXPENSES \u00a0
Accounting policy \u00a0
\n\t\t\t\t\tThe group\u2019s products are still in the research and development phase, and there are no revenue from sales of products yet. \u00a0
\n\t\t\t\t\tExpenditure on research activities is recognised as an expense in the period in which it is incurred. Internal development costs \u00a0
\n\t\t\t\t\trelated to the group\u2019s development of products are recognised in the income statement in the year incurred unless it meets the \u00a0
\n\t\t\t\t\tasset recognition criteria of IAS 38 \u201cIntangible Assets\u201d\ufffd An internally generated asset arising from the development phase of a \u00a0
\n\t\t\t\t\tresearch and development project is recognised if, and only if, all of the following has been demonstrated: \u00a0
\n\t\t\t\t\t\u25cf Technical feasibility of completing the intangible asset so that it will be available for use or sale. \u00a0
\n\t\t\t\t\t\u25cf The intention to complete the intangible asset and use or sell it. \u00a0
\n\t\t\t\t\t\u25cf The ability to use or sell the intangible asset. \u00a0
\n\t\t\t\t\t\u25cf How the intangible asset will generate probable future economic bene\ufb01ts. \u00a0
\n\t\t\t\t\t\u25cf The availability of adequate technical, \ufb01nancial and other resources to complete the development and use or sell the intangible asset. \u00a0
\n\t\t\t\t\t\u25cf The ability to measure reliably the expenditure attributable to the intangible asset during its development. \u00a0
\n\t\t\t\t\tUncertainties related to the regulatory approval process and results from ongoing clinical trials, generally, indicate that the criteria \u00a0
\n\t\t\t\t\tare not met until the time when marketing authorisation is obtained from relevant regulatory authorities. The group has currently \u00a0
\n\t\t\t\t\tno development expenditure that quali\ufb01es for recognition as an asset under IAS 38. \u00a0
\n\t\t\t\t\tResearch and development expenses are presented net, after deduction of government grants\ufffd \u00a0
Research and development expenses \u00a0
\n\t\t\t\t\tCost related to research and development is expensed. During the \ufb01nancial year 2022 expenses for research and development \u00a0
\n\t\t\t\t\twere NOK 247.3
million whereas, NOK 202.5 million is classi\ufb01ed as other operating expenses, NOK 3.5 is classi\ufb01ed as depreciation \u00a0
\n\t\t\t\t\tand NOK 41.3 million is classi\ufb01ed as payroll. In 2021 the research and development expenses were NOK 375.0 million whereas \u00a0
\n\t\t\t\t\tNOK 318.0 million is classi\ufb01ed as operating expenses, NOK 8.8 is classi\ufb01ed as depreciation and NOK 48.3 million is classi\ufb01ed \u00a0
\n\t\t\t\t\tas payroll respectively\ufffd Research and development expenses above are presented as gross amounts, before deduction of \u00a0
\n\t\t\t\t\tgovernment grants\ufffd Total cost does not include cost related to share-based payments\ufffd See note 3\ufffd3 for more information about \u00a0
\n\t\t\t\t\tgovernment grants presented as a reduction of operating costs\ufffd \u00a0
3\ufffd6 OTHER
CURRENT LIABILITIES \u00a0
Accounting policy \u00a0
\n\t\t\t\t\tOther liabilities are classi\ufb01ed as current liabilities if payment is due within one year or less (or in the normal operating cycle of \u00a0
\n\t\t\t\t\tthe business if longer). If not, they are presented as non-current liabilities. Accounts payable and other \ufb01nancial liabilities are \u00a0
\n\t\t\t\t\trecognised initially at fair value and subsequently measured at amortised cost using the effective interest method\ufffd \u00a0
\n\t\t\t\t\tRestructuring provisions are recognised only when the group has a constructive obligation, which is when there is a detailed formal \u00a0
\n\t\t\t\t\tplan that identi\ufb01es the business or part of the business concerned, the location and number of employees affected, the detailed \u00a0
\n\t\t\t\t\testimate of the associated costs, and the timeline; and the employees affected have been noti\ufb01ed of the plan\u2019s main features. \u00a0
PARENT \u00a0
\n\t\t\t\t\tGROUP \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\tNote \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t(Amounts in NOK 1 000) \u00a0
\n\t\t\t\t\t2 213 \u00a0
\n\t\t\t\t\t3 098 \u00a0
\n\t\t\t\t\tUnpaid duties and charges \u00a0
\n\t\t\t\t\t3 483 \u00a0
\n\t\t\t\t\t2 844 \u00a0
\n\t\t\t\t\t2 388 \u00a0
\n\t\t\t\t\t1 425 \u00a0
\n\t\t\t\t\tUnpaid vacation pay \u00a0
\n\t\t\t\t\t1 425 \u00a0
\n\t\t\t\t\t2 919 \u00a0
\n\t\t\t\t\tAccrued social security related to outstanding \u00a0
\n\t\t\t\t\t878 \u00a0
\n\t\t\t\t\t9
\n\t\t\t\t\t9
\n\t\t\t\t\t1 649 \u00a0
\n\t\t\t\t\tnon exercised options, PSUs and RSUs \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t16 409 \u00a0
\n\t\t\t\t\tRestructuring costs \u00a0
\n\t\t\t\t\t25 022 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t60 574 \u00a0
\n\t\t\t\t\t4 233 \u00a0
\n\t\t\t\t\tOther accrued costs \u00a0
\n\t\t\t\t\t4 333 \u00a0
\n\t\t\t\t\t71 747 \u00a0
\n\t\t\t\t\t66 053 \u00a0
\n\t\t\t\t\t25 174 \u00a0
\n\t\t\t\t\tOther current liabilities 31.12 \u00a0
\n\t\t\t\t\t34 272 \u00a0
\n\t\t\t\t\t79 159 \u00a0
Social security contributions on share options \u00a0
\n\t\t\t\t\tThe provision for social security contributions on share options, PSUs and RSUs are calculated based on the number of options \u00a0
\n\t\t\t\t\tand PSUs outstanding at the reporting date that are expected to be exercised\ufffd The provision is based on market price of the shares \u00a0
\n\t\t\t\t\tat the reporting date 31 December 2022 of NOK 1.17 per share (2021: NOK 23.04 per share), which is the best estimate of the \u00a0
\n\t\t\t\t\tmarket price at the date of exercise\ufffd \u00a0
\n\t\t\t\t\tOther accrued costs \u00a0
\n\t\t\t\t\tOther accrued costs for period ended 31 December 2022 are mainly related to closing down of the Paradigme trial and the \u00a0
\n\t\t\t\t\trestructuring of the group\ufffd \u00a0
\n\t\t\t\t\tRestructuring provision \u00a0
\n\t\t\t\t\tFollowing the decision to discontinue PARADIGME in July 2022, the company decided to implement a restructuring of the company \u00a0
\n\t\t\t\t\twith immediate effect with the purpose of reducing costs where necessary to enable support of essential activities associated with \u00a0
\n\t\t\t\t\tdevelopment of the pipeline\ufffd The company recorded a restructuring provision on 31 December 2022\ufffd The total provision is mainly \u00a0
\n\t\t\t\t\trelated to contractual binding settlement agreements with CROs and suppliers which has contributed in- or to the wrap-up of the \u00a0
\n\t\t\t\t\tstudy and employees in termination. Total restructuring provision in the group as per 31 December 2022 was NOK 25.0 million and \u00a0
\n\t\t\t\t\tis included as other current liabilities in the statement of \ufb01nancial position in the group. In the parent the total provision was NOK \u00a0
\n\t\t\t\t\t25.0 million whereas NOK 16.4 million is classi\ufb01ed as other current liabilities and NOK 8.6 million as intercompany liabilities in the \u00a0
\n\t\t\t\t\tstatement of \ufb01nancial position. \u00a0
\n\t\t\t\t\tNordic Nanovector has appointed Carnegie Investment Bank to explore strategic options for the company to optimise \u00a0
\n\t\t\t\t\tshareholder value\ufffd The engagement is agreed to be on \u201cno-cure \u2013 no pay\u201d terms\ufffd If a transaction is completed Carnegie is entitled \u00a0
\n\t\t\t\t\tto a payment as agreed in the contract. As per 31 December 2022, no provision has been made as the proposed transaction was \u00a0
\n\t\t\t\t\tvoted down on the extraordinary assembly 1 December 2022. \u00a0
3\ufffd7 AUDITORS
FEE \u00a0
Accounting policy \u00a0
\n\t\t\t\t\tAuditors fee is expensed and recognised in the statement of pro\ufb01t and loss in the period which the related costs are incurred or \u00a0
\n\t\t\t\t\tservices are provided\ufffd Amounts are presented exclusive of VAT\ufffd \u00a0
Fees to auditors for the year ended 31 December \u00a0
\n\t\t\t\t\tPARENT \u00a0
\n\t\t\t\t\tGROUP \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t(Amounts in NOK 1 000) \u00a0
\n\t\t\t\t\t330 \u00a0
\n\t\t\t\t\t370 \u00a0
\n\t\t\t\t\tAudit fee \u00a0
\n\t\t\t\t\t423 \u00a0
\n\t\t\t\t\t378 \u00a0
\n\t\t\t\t\t66 \u00a0
\n\t\t\t\t\t535 \u00a0
\n\t\t\t\t\tAudit related work \u00a0
\n\t\t\t\t\t535 \u00a0
\n\t\t\t\t\t66 \u00a0
\n\t\t\t\t\t9
\n\t\t\t\t\t34 \u00a0
\n\t\t\t\t\tTax services \u00a0
\n\t\t\t\t\t34 \u00a0
\n\t\t\t\t\t9
\n\t\t\t\t\t405 \u00a0
\n\t\t\t\t\t939 \u00a0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\t992 \u00a0
\n\t\t\t\t\t453 \u00a0
\n\t\t\t\t\tAudit fee in the table above is the agreed audit fee for the accounting year and does not necessarily correspond to actual expensed \u00a0
\n\t\t\t\t\taudit fee for the period as some of the services performed incurred after year-end\ufffd \u00a0
\n\t\t\t\t\tAudit related work in 2022 was services due to the suggested merger with APIM Therapeutics AS. \u00a0
\n\t\t\t\t\tIn 2022 audit fees and non-audit services to auditors other than the group auditor was NOK 0.05 million and NOK 0.15 million \u00a0
\n\t\t\t\t\trespectively (2021: NOK 0\ufffd05 million and NOK 0\ufffd18 million respectively) \u00a0
3\ufffd8 SEGMENTS
Accounting policy \u00a0
\n\t\t\t\t\tFor management purposes, the group is organised as one business unit and the internal reporting is structured in accordance \u00a0
\n\t\t\t\t\twith this. The group has thus only one operating segment. The Executive Leadership Team is the Chief Operating Decision Maker \u00a0
\n\t\t\t\t\t(CODM) and monitors the operating results for the purpose of making decisions about resource allocation and performance \u00a0
\n\t\t\t\t\tassessment\ufffd \u00a0
In the tables below non-current assets broken down by geographical areas based on the location of the companies: \u00a0
\n\t\t\t\t\tAs per 31 December 2022 \u00a0
\n\t\t\t\t\tAssets \u00a0
\n\t\t\t\t\tNorway \u00a0
\n\t\t\t\t\tSwitzerland \u00a0
\n\t\t\t\t\tUnited Kingdom \u00a0
\n\t\t\t\t\t(Amounts in NOK 1 000) \u00a0
\n\t\t\t\t\tNon-current assets \u00a0
\n\t\t\t\t\t537 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tAs per 31 December 2021 \u00a0
\n\t\t\t\t\tAssets \u00a0
\n\t\t\t\t\tNorway \u00a0
\n\t\t\t\t\tSwitzerland \u00a0
\n\t\t\t\t\tUnited Kingdom \u00a0
\n\t\t\t\t\t(Amounts in NOK 1 000) \u00a0
\n\t\t\t\t\tNon-current assets \u00a0
\n\t\t\t\t\t5 943 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
4.1 PROPERTY,
PLANT AND EQUIPMENT \u00a0
Accounting policy \u00a0
\n\t\t\t\t\tProperty, plant and equipment are carried at cost less accumulated depreciation and accumulated impairment losses\ufffd Acquisition \u00a0
\n\t\t\t\t\tcost includes expenditures that are directly attributable to the acquisition of the individual item\ufffd Property, plant and equipment \u00a0
\n\t\t\t\t\tare depreciated on a straight-line basis over the expected useful life of the asset. If signi\ufb01cant individual parts of the assets have \u00a0
\n\t\t\t\t\tdifferent useful lives, they are recognised and depreciated separately. Depreciation commences when the assets are ready for \u00a0
\n\t\t\t\t\ttheir intended use. The estimated useful lives of the assets are as follows: \u00a0
\n\t\t\t\t\t\u25cf Of\ufb01ce equipment: Two to three years \u00a0
\n\t\t\t\t\t\u25cf Laboratory equipment: Three to \ufb01ve years \u00a0
\n\t\t\t\t\t\u25cf Permanent building \ufb01xtures: Two to \ufb01ve years \u00a0
\n\t\t\t\t\t\u25cf Furniture and \ufb01ttings: Three to \ufb01ve years \u00a0
\n\t\t\t\t\t\u25cf Software: Three years \u00a0
\n\t\t\t\t\tThe estimated useful life of \ufb01xed assets related to the laboratory equipment, is based on the company\u2019s assessment of operational \u00a0
\n\t\t\t\t\trisk. Due to scienti\ufb01c and regulatory reasons there is a risk of termination of the projects. This has been taken into account when \u00a0
\n\t\t\t\t\tdetermining the estimated useful life of the individual assets\ufffd \u00a0
\n\t\t\t\t\tAn item of property, plant and equipment and any signi\ufb01cant part initially recognised is derecognised upon disposal or when no \u00a0
\n\t\t\t\t\tfuture economic bene\ufb01ts are expected from its use or disposal. Any gain or loss arising on derecognition of the asset (calculated as \u00a0
\n\t\t\t\t\tthe difference between the net disposal proceeds and the carrying amount of the asset) is included in the income statement when \u00a0
\n\t\t\t\t\tthe asset is derecognised\ufffd The residual values, useful lives and methods of depreciation of the property, plant and equipment are \u00a0
\n\t\t\t\t\treviewed at each \ufb01nancial year and adjusted prospectively, if appropriate. \u00a0
\n\t\t\t\t\tAll the \ufb01xed assets in the group are owned by Nordic Nanovector ASA, thus the disclosure for Nordic Nanovector ASA is identical \u00a0
\n\t\t\t\t\tto the disclosure for the group\ufffd \u00a0
4\ufffd2 LEASES
Accounting policy \u00a0
Right-of-use assets \u00a0
\n\t\t\t\t\tThe group recognises right-of-use assets at the commencement date of the lease (i\ufffde\ufffd, the date the underlying asset is available \u00a0
\n\t\t\t\t\tfor use)\ufffd Right-of-use assets are measured at cost, less any accumulated depreciation and impairment losses, and adjusted for \u00a0
\n\t\t\t\t\tany remeasurement of lease liabilities\ufffd The cost of right-of-use assets includes the amount of lease liabilities recognised, initial \u00a0
\n\t\t\t\t\tdirect costs incurred, and lease payments made at or before the commencement date less any lease incentives received\ufffd \u00a0
\n\t\t\t\t\tThe company applies the depreciation requirements in IAS 16 Property, Plant and Equipment in depreciating the right-of-use \u00a0
\n\t\t\t\t\tasset, except that the right-of-use asset is depreciated from the commencement date to the earlier of the lease term and the \u00a0
\n\t\t\t\t\tremaining useful life of the right-of-use asset. The company applies IAS 36 Impairment of Assets to determine whether the right- \u00a0
\n\t\t\t\t\tof-use asset is impaired and to account for any impairment loss identi\ufb01ed. \u00a0
\n\t\t\t\t\tLease liabilities \u00a0
\n\t\t\t\t\tAt the commencement date of the lease, the group recognises lease liabilities measured at the present value of lease payments \u00a0
\n\t\t\t\t\tto be made over the lease term\ufffd \u00a0
\n\t\t\t\t\tIn calculating the present value of lease payments, the group uses the incremental borrowing rate at the lease commencement \u00a0
\n\t\t\t\t\tdate if the interest rate implicit in the lease is not readily determinable\ufffd After the commencement date, the amount of lease liabilities \u00a0
\n\t\t\t\t\tis increased to re\ufb02ect the accretion of interest and reduced for the lease payments made. In addition, the carrying amount of lease \u00a0
\n\t\t\t\t\tliabilities is remeasured if there is a modi\ufb01cation, a change in the lease term, a change in the in-substance \ufb01xed lease payments \u00a0
\n\t\t\t\t\tor a change in the assessment to purchase the underlying asset\ufffd The group remeasures the lease liability upon the occurrence \u00a0
\n\t\t\t\t\tof certain events (e\ufffdg\ufffda change in the lease term, or a change in future lease payments resulting from a change in an index or rate \u00a0
\n\t\t\t\t\tused to determine those payments)\ufffd Generally, the amount of remeasurement of the lease liability is recognised as an adjustment \u00a0
\n\t\t\t\t\tto the right-of-use asset\ufffd \u00a0
\n\t\t\t\t\tShort-term leases and leases of low-value assets \u00a0
\n\t\t\t\t\tThe group applies the short-term lease recognition exemption to its short-term leases (i\ufffde\ufffd, those leases that have a lease term of \u00a0
\n\t\t\t\t\t12 months or less from the commencement date and do not contain a purchase option). The group also applies the lease of low- \u00a0
\n\t\t\t\t\tvalue assets recognition exemption to leases that are considered of low value. Lease payments on short-term leases and leases \u00a0
\n\t\t\t\t\tof low-value assets are recognised as expense on a straight-line basis over the lease term. \u00a0
\n\t\t\t\t\tIncremental borrowing rate \u00a0
\n\t\t\t\t\tIn calculating the present value of lease payments, the group uses the incremental borrowing rate at the lease commencement \u00a0
\n\t\t\t\t\tdate if the interest rate implicit in the lease is not readily determinable\ufffd \u00a0
\n\t\t\t\t\tDetermining the lease term of contracts with renewal options \u00a0
\n\t\t\t\t\tThe group determines the lease term as the non-cancellable term of the lease, together with any periods covered by an option \u00a0
\n\t\t\t\t\tto extend the lease if it is reasonably certain to be exercised, or any periods covered by an option to terminate the lease, if it is \u00a0
\n\t\t\t\t\treasonably certain not to be exercised. The group applies judgement in evaluating whether it is reasonably certain to exercise an \u00a0
\n\t\t\t\t\toption to renew a lease contract, considering all relevant factors that create an economic incentive for the group to exercise the \u00a0
\n\t\t\t\t\trenewal or not exercise an option to terminate. \u00a0
\n\t\t\t\t\tThe main part of the group\u2019s lease contracts relates to production and of\ufb01ce facilities. \u00a0
\n\t\t\t\t\tLease contracts \u00a0
\n\t\t\t\t\tDuring 2022 Nordic Nanovector ASA had lease contracts related to external production facilities at one of the CMO\u2019s manufacturing \u00a0
\n\t\t\t\t\tsites of\ufb01ce facilities and of\ufb01ces machines. These contracts were registered as a right-of-use-asset with a lease liability. All leases \u00a0
\n\t\t\t\t\texcept related to of\ufb01ce machines have expired as per 31 December 2022. The group also lease of\ufb01ce facilities in Switzerland and \u00a0
\n\t\t\t\t\tDenmark with a lease term of 12 months or less. The lease in Denmark expired in October 2022 and was not renewed. The lease \u00a0
\n\t\t\t\t\tin Switzerland will expire in April 2023 and will not be renewed. The group applies the \u2018short-term lease\u2019 recognition exemptions \u00a0
\n\t\t\t\t\tfor these leases\ufffd \u00a0
\n\t\t\t\t\tThe company and the group has no signi\ufb01cant lease contract that includes an extention option. Undiscounted potential future \u00a0
\n\t\t\t\t\trental payment related to periods following the excercise date of extention and termination options that are not included in the \u00a0
\n\t\t\t\t\tlease term, was NOK 2.2 million in 2021. All payments are within a one year period. Management exercise signi\ufb01cant judgement \u00a0
\n\t\t\t\t\tin determining whether extension options are reasonable to be exercised. \u00a0
The table below summarises the maturity pro\ufb01le of leasing liabilities. All lease liabilities in the group is registered in the parent \u00a0
\n\t\t\t\t\tcompany, therefore the disclosure for Nordic Nanovector ASA is identical to the disclosure for the group\ufffd \u00a0
\n\t\t\t\t\tAs per 31 December 2022 \u00a0
\n\t\t\t\t\tPARENT \u00a0
\n\t\t\t\t\tLess than \u00a0
\n\t\t\t\t\t3 to 12 \u00a0
\n\t\t\t\t\t13 to 24 \u00a0
\n\t\t\t\t\t25 to 36 \u00a0
\n\t\t\t\t\t3 months \u00a0
\n\t\t\t\t\tmonths \u00a0
\n\t\t\t\t\tmonths \u00a0
\n\t\t\t\t\tmonths \u00a0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\t(Amounts in NOK 1 000) \u00a0
\n\t\t\t\t\tLease liabilities \u00a0
\n\t\t\t\t\t25 \u00a0
\n\t\t\t\t\t134 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t159 \u00a0
\n\t\t\t\t\tThere are no non-current liabilites related to leasing agreements payable as per 31 December 2022 \u00a0
\n\t\t\t\t\tAs per 31 December 2021 \u00a0
\n\t\t\t\t\tPARENT \u00a0
\n\t\t\t\t\tLess than \u00a0
\n\t\t\t\t\t3 to 12 \u00a0
\n\t\t\t\t\t13 to 24 \u00a0
\n\t\t\t\t\t25 to 36 \u00a0
\n\t\t\t\t\t3 months \u00a0
\n\t\t\t\t\tmonths \u00a0
\n\t\t\t\t\tmonths \u00a0
\n\t\t\t\t\tmonths \u00a0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\t(Amounts in NOK 1 000) \u00a0
\n\t\t\t\t\tLease liabilities \u00a0
\n\t\t\t\t\t2 931 \u00a0
\n\t\t\t\t\t2 577 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t5 508 \u00a0
\n\t\t\t\t\tThere are no non-current liabilites related to leasing agreements payable as per 31 December 2021\ufffd \u00a0
The following are the amounts recognised in the pro\ufb01t and loss. \u00a0
\n\t\t\t\t\tPARENT \u00a0
\n\t\t\t\t\tGROUP \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t(Amounts in NOK 1 000) \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t10 483 \u00a0
\n\t\t\t\t\t5 195 \u00a0
\n\t\t\t\t\tDepreciation and impairment of right-of-use assets \u00a0
\n\t\t\t\t\t5 195 \u00a0
\n\t\t\t\t\t10 483 \u00a0
\n\t\t\t\t\t414 \u00a0
\n\t\t\t\t\t66 \u00a0
\n\t\t\t\t\tInterest expense on lease liabilities \u00a0
\n\t\t\t\t\t66 \u00a0
\n\t\t\t\t\t414 \u00a0
\n\t\t\t\t\t85 \u00a0
\n\t\t\t\t\t75 \u00a0
\n\t\t\t\t\tExpense related to short-term lease \u00a0
\n\t\t\t\t\t366 \u00a0
\n\t\t\t\t\t263 \u00a0
\n\t\t\t\t\t10 982 \u00a0
\n\t\t\t\t\t5 336 \u00a0
\n\t\t\t\t\tTotal amount recognised in pro\ufb01t and loss \u00a0
\n\t\t\t\t\t5 627 \u00a0
\n\t\t\t\t\t11 160 \u00a0
Total cash ou\ufb02ow for leases: \u00a0
\n\t\t\t\t\tPARENT \u00a0
\n\t\t\t\t\tGROUP \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t(Amounts in NOK 1 000) \u00a0
\n\t\t\t\t\t10 928 \u00a0
\n\t\t\t\t\t5 663 \u00a0
\n\t\t\t\t\tTotal cash out\ufb02ow for leases \u00a0
\n\t\t\t\t\t5 957 \u00a0
\n\t\t\t\t\t11 107 \u00a0
\n\t\t\t\t\tThe group also had NOK 0\ufffd2 million in non-cash additions to right-of-use assets and lease liabilities in 2022 (NOK 11\ufffd4 million in \u00a0
\n\t\t\t\t\tnon-cash additions in 2021)\ufffd \u00a0
Section 5 - Risk management, \ufb01nancial instruments, capital structure \u00a0
\n\t\t\t\t\tand equity \u00a0
\n\t\t\t\t\t5\ufffd1 RISK MANAGEMENT OBJECTIVES AND POLICIES \u00a0
Operational and market risks \u00a0
\n\t\t\t\t\tNordic Nanovector is currently in a development phase involving activities that entail exposure to various risks. Nordic Nanovector\u2019s \u00a0
\n\t\t\t\t\tstrategy is to continuously identify, minimise and mitigate potential risks, and risk assessment and management are an integral \u00a0
\n\t\t\t\t\tpart of Nordic Nanovector\u2019s operations. \u00a0
The Company has not completed clinical development for any of its current product candidates and has not previously \ufb01led for or \u00a0
\n\t\t\t\t\tobtained marketing approval from any regulatory authority for any product candidate\ufffd \u00a0
\n\t\t\t\t\tDelay or failure of the Company\u2019s clinical trials may adversely impact the Company\u2019s ability to obtain regulatory approval for \u00a0
\n\t\t\t\t\tand commercialise its current and future product candidates. The Company depends on the collaboration with CROs, medical \u00a0
\n\t\t\t\t\tinstitutions, laboratories and drug product manufacturers in order to conduct clinical testing in compliance with requirements from \u00a0
\n\t\t\t\t\tappropriate regulatory authorities in the relevant jurisdictions. The Company\u2019s ability to complete clinical trials in a timely fashion \u00a0
\n\t\t\t\t\tor at all may be impacted by several factors, including the following: \u00a0
\n\t\t\t\t\t\u2022
\n\t\t\t\t\tdelays in obtaining or failures to obtain regulatory approval to commence clinical trials because of safety concerns of regulators \u00a0
\n\t\t\t\t\trelating to the Company\u2019s product candidate or failure to follow regulatory guidelines and general safety issues; \u00a0
\n\t\t\t\t\t\u2022
\n\t\t\t\t\tactions by regulators to suspend a clinical trial or to temporarily or permanently stop a trial for a variety of reasons, principally \u00a0
\n\t\t\t\t\tfor safety concerns; \u00a0
\n\t\t\t\t\t\u2022
\n\t\t\t\t\tdelays in recruiting patients to participate in a clinical trial, and the rate of patient enrolment, which is itself a function of many \u00a0
\n\t\t\t\t\tfactors, including size of the patient population, the proximity of patients to the clinical trial sites, the eligibility criteria for the \u00a0
\n\t\t\t\t\ttrial and the nature of the protocol; \u00a0
\n\t\t\t\t\t\u2022
\n\t\t\t\t\tcompliance of patients and investigators with the protocol and applicable regulations; failure of clinical trials and clinical \u00a0
\n\t\t\t\t\tinvestigators to comply with relevant clinical protocol, or similar requirements in other jurisdictions; \u00a0
\n\t\t\t\t\t\u2022
\n\t\t\t\t\tfailure of third-party contractors/external service providers to satisfy their contractual duties, comply with regulations or meet \u00a0
\n\t\t\t\t\texpected deadlines; \u00a0
\n\t\t\t\t\t\u2022
\n\t\t\t\t\tdelays or failures in reaching agreement on acceptable terms with prospective trial sites; \u00a0
\n\t\t\t\t\t\u2022
\n\t\t\t\t\tdetermination by regulators that the clinical design is not adequate; and \u00a0
\n\t\t\t\t\t\u2022
\n\t\t\t\t\tdelays or failures in obtaining suf\ufb01cient clinical supplies for use in trials, due to failures in one or more steps of the manufacturing \u00a0
\n\t\t\t\t\tprocess and/or improper shipment/handling/delivery by the Contract Manufacturing Organisations (\u201cCMOs\u201d) to the clinical \u00a0
\n\t\t\t\t\ttrial sites\ufffd \u00a0
\n\t\t\t\t\tEven if the Company receives regulatory agency approval, the Company may not be successful in commercialising approved \u00a0
\n\t\t\t\t\tproduct candidates\ufffd \u00a0
In most markets, drug prices and reimbursement levels are regulated or in\ufb02uenced by health authorities, other healthcare providers, \u00a0
\n\t\t\t\t\tinsurance companies or health maintenance organisations. There is a risk that the Company\u2019s drugs, following required approvals, \u00a0
\n\t\t\t\t\twill not obtain reimbursement in line with the selling prices or reimbursement levels anticipated by the Company. If actual prices \u00a0
\n\t\t\t\t\tand reimbursement levels granted to the Company\u2019s products happen to be lower than anticipated, this may have a negative \u00a0
\n\t\t\t\t\timpact on the pro\ufb01tability of its products. and the overall business. \u00a0
The Company has an IP-strategy to protect its intellectual property and know-how related to inter alia its products, methods, \u00a0
\n\t\t\t\t\tprocesses and other technologies, and trade secrets\ufffd Through its IP strategy the Company seeks to prevent third parties from \u00a0
\n\t\t\t\t\tinfringing its proprietary rights and ensure that it operates without infringing the proprietary rights of third parties. As part of its \u00a0
\n\t\t\t\t\tIP strategy, the Company to date holds certain exclusive patent rights in major markets, however, the Company cannot predict \u00a0
\n\t\t\t\t\tthe degree and range of protection any patents will afford against competitors and competing technologies. There is always a \u00a0
\n\t\t\t\t\trisk that third parties may \ufb01nd ways to invalidate or otherwise circumvent the patents. There is a risk that current or future patent \u00a0
\n\t\t\t\t\tapplications submitted by the Company may be delayed or rejected, and a risk that others may obtain patents claiming aspects \u00a0
\n\t\t\t\t\tsimilar to those covered by the Company\u2019s patents and patents applications. There is also a risk that the Company may need to \u00a0
\n\t\t\t\t\tinitiate or defend litigation or administrative proceedings, to protect its own patents. Litigation or proceedings may be costly and \u00a0
\n\t\t\t\t\tshould the Company\u2019s technology be found to infringe upon third parties\u2019 rights, that could limit the Company\u2019s freedom to operate \u00a0
\n\t\t\t\t\tor could subject the Company to signi\ufb01cant damages or an injunction preventing the manufacture, sale or use of its affected \u00a0
\n\t\t\t\t\tproducts\ufffd \u00a0
\n\t\t\t\t\tThe Company currently maintains clinical trial liability insurance for each trial in each country\ufffd
Any claims against the Company, \u00a0
\n\t\t\t\t\tregardless of their merit, could materially and adversely affect its \ufb01nancial condition, in addition to consuming the time and \u00a0
\n\t\t\t\t\tattention of the management\ufffd \u00a0
\n\t\t\t\t\tThe biopharma industry is highly competitive with many large players and subject to rapid and substantial technological change. \u00a0
\n\t\t\t\t\tDevelopments by others may render the Company\u2019s product candidates or technologies obsolete or uncompetitive. The Company\u2019s \u00a0
\n\t\t\t\t\tdrug candidates may not gain the market acceptance required to be pro\ufb01table even if they successfully complete clinical trials and \u00a0
\n\t\t\t\t\treceive approval for sale by the relevant regulatory authorities\ufffd \u00a0
\n\t\t\t\t\tThe Company is exposed to risk of relying upon third parties for clinical trials and manufacturing\ufffd The Company cannot be certain \u00a0
\n\t\t\t\t\tthat it will be able to enter into or maintain satisfactory agreements with third-party suppliers, such as CROs or CMOs, for the \u00a0
\n\t\t\t\t\tconduct of clinical trials or product manufacturing, respectively. The Company\u2019s need to recruit, amend or change providers for \u00a0
\n\t\t\t\t\tthe conduct of clinical trials might impact the timelines of the conduct of such trials\ufffd \u00a0
\n\t\t\t\t\tThe Company\u2019s failure to enter into agreements with such suppliers or manufacturers on reasonable terms, if at all, could have a \u00a0
\n\t\t\t\t\tmaterial and adverse effect on the business, its \ufb01nancial condition and results of operations. \u00a0
\n\t\t\t\t\tPoor manufacturing performance of third-party manufacturers, a disruption in the supply or the Company\u2019s failure to accurately \u00a0
\n\t\t\t\t\tpredict the demand for any future commercial sale of a product could have a signi\ufb01cant adverse effect on the Company\u2019s business, \u00a0
\n\t\t\t\t\t\ufb01nancial condition or results of operations. \u00a0
\n\t\t\t\t\tThe Company believes that its safety procedures for handling and disposing of all materials comply with the highest environmental \u00a0
\n\t\t\t\t\tand safety standards; however, there will always be a risk of accidental contamination or injury. By law, radioactive materials \u00a0
\n\t\t\t\t\tmay only be disposed of at certain approved facilities\ufffd When handling and disposing of radioactive materials, there is a risk of \u00a0
\n\t\t\t\t\taccidental contamination or emission damage\ufffd Breach of rules for handling and disposing of radioactive materials may involve \u00a0
\n\t\t\t\t\tsanctions for the Company, as well as a negative reputation for the Company. \u00a0
Financial risk \u00a0
\n\t\t\t\t\tInterest rate risk \u00a0
\n\t\t\t\t\tThe Nordic Nanovector group has no interest-bearing debt except leasing liabilities, where the underlying interest rate is determined \u00a0
\n\t\t\t\t\twhen the leasing agreement starts. Bank deposits are exposed to market \ufb02uctuations of interest rates, which impact the \ufb01nancial \u00a0
\n\t\t\t\t\tincome\ufffd The Nordic Nanovector group had NOK 3\ufffd2 million (NOK 1\ufffd1 million) in interest income as of year-end\ufffd \u00a0
Exchange rate risk \u00a0
\n\t\t\t\t\tThe value of non-Norwegian currency denominated revenues and costs will be affected by changes in currency exchange rates \u00a0
\n\t\t\t\t\tor exchange control regulations\ufffd The Group undertakes various transactions in foreign currencies and is consequently exposed \u00a0
\n\t\t\t\t\tto \ufb02uctuations in exchange rates. The exposure arises largely from research and development expenses. The group is mainly \u00a0
\n\t\t\t\t\texposed to \ufb02uctuations in euro (EUR), pounds sterling (GBP), US dollar (USD) and Swiss franc (CHF). \u00a0
\n\t\t\t\t\tExchange rate \ufb02uctuations mainly impact cash and cash equivalents in the statement of \ufb01nancial position and \ufb01nancial items in \u00a0
\n\t\t\t\t\tthe statement of pro\ufb01t and loss, reported as \ufb01nancial income or expenses. \u00a0
\n\t\t\t\t\tNordic Nanovector strives to identify and manage material foreign currency exposures and to minimise the potential effects of \u00a0
\n\t\t\t\t\tcurrency \ufb02uctuations on the cash \ufb02ow. In order to achieve this, and to provide an operational hedge for purchases made in foreign \u00a0
\n\t\t\t\t\tcurrencies, the Company has made deposits in foreign currency bank accounts and continuously monitors the level of these funds\ufffd \u00a0
\n\t\t\t\t\tThe parent\u2019s deposits in foreign currencies at year-end 2022 amounted to an equivalent of NOK 6.9 million (NOK 111.7 million). \u00a0
Credit risk \u00a0
\n\t\t\t\t\tThe Nordic Nanovector group is primarily exposed to credit risk associated with accounts receivable and other current receivables. \u00a0
\n\t\t\t\t\tThe Group has no revenues\ufffd The Nordic Nanovector group has not suffered any losses on receivables during 2022\ufffd Other current \u00a0
\n\t\t\t\t\treceivables are mainly related to grants from the government institution Research Council of Norway, and prepayments of services \u00a0
\n\t\t\t\t\tto suppliers. The Group considers its credit risk as low. \u00a0
Liquidity risk \u00a0
\n\t\t\t\t\tThe Company closely monitors, plans and reports its cash \ufb02ow, considering short- and long-term forecasts. The Group does not \u00a0
\n\t\t\t\t\thave any loan agreements\ufffd \u00a0
\n\t\t\t\t\tThe Company was successful in raising new funds totaling NOK 250 million in gross proceeds during the \ufb01rst quarter of 2022. \u00a0
\n\t\t\t\t\tManagement will continue to focus on ef\ufb01cient operations, close monitoring and planning of the cash resources, and maintaining \u00a0
\n\t\t\t\t\ta clear business development strategy to position the Company for a possible future transaction that would bene\ufb01t all of its \u00a0
\n\t\t\t\t\tstakeholders\ufffd \u00a0
Financial instruments\u2019 sensitivity for changes in exchange rate at year-end is shown in the table below. Based on historic variation \u00a0
\n\t\t\t\t\tin exchange rates, management considers the percentages applied in the calculation as a reasonably possibly change\ufffd \u00a0
\n\t\t\t\t\tGROUP \u00a0
\n\t\t\t\t\tEffect on pro\ufb01t/loss before tax3) \u00a0
\n\t\t\t\t\t(Amounts in NOK 1 000) \u00a0
\n\t\t\t\t\tCurrency1) \u00a0
\n\t\t\t\t\tChange in exchange rate2) \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t-10% \u00a0
\n\t\t\t\t\t-160 \u00a0
\n\t\t\t\t\t-7 337 \u00a0
\n\t\t\t\t\tEUR \u00a0
\n\t\t\t\t\t+10% \u00a0
\n\t\t\t\t\t160 \u00a0
\n\t\t\t\t\t7 337 \u00a0
\n\t\t\t\t\t-10% \u00a0
\n\t\t\t\t\t-330 \u00a0
\n\t\t\t\t\t-2 238 \u00a0
\n\t\t\t\t\tGBP \u00a0
\n\t\t\t\t\t+10% \u00a0
\n\t\t\t\t\t330 \u00a0
\n\t\t\t\t\t2 238 \u00a0
\n\t\t\t\t\t-10% \u00a0
\n\t\t\t\t\t-99 \u00a0
\n\t\t\t\t\t-1 218 \u00a0
\n\t\t\t\t\tUSD \u00a0
\n\t\t\t\t\t+10% \u00a0
\n\t\t\t\t\t99 \u00a0
\n\t\t\t\t\t1 218 \u00a0
\n\t\t\t\t\t-10% \u00a0
\n\t\t\t\t\t-103 \u00a0
\n\t\t\t\t\t-382 \u00a0
\n\t\t\t\t\tCHF \u00a0
\n\t\t\t\t\t+10% \u00a0
\n\t\t\t\t\t103 \u00a0
\n\t\t\t\t\t382 \u00a0
\n\t\t\t\t\t1) The group\u2019s cash reserves are deposited in NOK, EUR, USD, CHF and GBP. \u00a0
\n\t\t\t\t\t2) Positive change represents an increased cost in NOK to purchase foreign currency. \u00a0
\n\t\t\t\t\t3) Positive \ufb01gure represents reduced loss while negative \ufb01gures increases loss. \u00a0
5\ufffd2 FINANCIAL
INSTRUMENTS \u00a0
Accounting policy \u00a0
\n\t\t\t\t\tFinancial assets \u00a0
\n\t\t\t\t\tInitial recognition and measurement \u00a0
\n\t\t\t\t\tFinancial assets are classi\ufb01ed, at initial recognition, as subsequently measured at amortised cost, fair value through other \u00a0
\n\t\t\t\t\tcomprehensive income (OCI), and fair value through pro\ufb01t or loss. Financial assets are recognised initially at fair value plus, in the \u00a0
\n\t\t\t\t\tcase of \ufb01nancial assets not recorded at fair value through pro\ufb01t or loss, transaction costs that are attributable to the acquisition of \u00a0
\n\t\t\t\t\tthe \ufb01nancial asset. \u00a0
\n\t\t\t\t\tFinancial assets at amortised cost \u00a0
\n\t\t\t\t\tThis category is the most relevant to the group. The group measures \ufb01nancial assets at amortised cost if both of the following \u00a0
\n\t\t\t\t\tconditions are met: The \ufb01nancial asset is held within a business model with the objective to hold \ufb01nancial assets in order to collect \u00a0
\n\t\t\t\t\tcontractual cash \ufb02ows and The contractual terms of the \ufb01nancial asset give rise on speci\ufb01ed dates to cash \ufb02ows that are solely \u00a0
\n\t\t\t\t\tpayments of principal and interest on the principal amount outstanding\ufffd \u00a0
\n\t\t\t\t\tFinancial assets at amortised cost are subsequently measured using the effective interest (EIR) method and are subject to \u00a0
\n\t\t\t\t\timpairment. Gains and losses are recognised in pro\ufb01t or loss when the asset is derecognised, modi\ufb01ed or impaired. \u00a0
Financial assets at fair value through pro\ufb01t or loss \u00a0
\n\t\t\t\t\tFinancial assets at fair value through pro\ufb01t or loss are carried in the statement of \ufb01nancial position at fair value with net changes \u00a0
\n\t\t\t\t\tin fair value recognised in the statement of pro\ufb01t or loss. The group does not have any \ufb01nancial assets at fair value through pro\ufb01t \u00a0
\n\t\t\t\t\tor loss\ufffd \u00a0
Impairment of \ufb01nancial assets \u00a0
\n\t\t\t\t\tThe group assesses, at each reporting date, whether there is objective evidence that a \ufb01nancial asset or a group of \ufb01nancial assets \u00a0
\n\t\t\t\t\tis impaired\ufffd An impairment exists if one or more events that has occurred since the initial recognition of the asset (an incurred \u00a0
\n\t\t\t\t\t\u2018loss event\u2019), has an impact on the estimated future cash \ufb02ows of the \ufb01nancial asset or the group of \ufb01nancial assets that can be \u00a0
\n\t\t\t\t\treliably estimated\ufffd \u00a0
\n\t\t\t\t\tThe amount of any impairment loss identi\ufb01ed is measured as the difference between the asset\u2019s carrying amount and the present \u00a0
\n\t\t\t\t\tvalue of estimated future cash \ufb02ows (excluding future expected credit losses that have not yet been incurred). \u00a0
Financial liabilities \u00a0
\n\t\t\t\t\tInitial recognition and measurement \u00a0
\n\t\t\t\t\tFinancial liabilities are classi\ufb01ed, at initial recognition, as \ufb01nancial liabilities at fair value through pro\ufb01t or loss, loans and borrowings, \u00a0
\n\t\t\t\t\tpayables, or as derivatives designated as hedging instruments in an effective hedge, as appropriate. All \ufb01nancial liabilities are \u00a0
\n\t\t\t\t\trecognised initially at fair value and, in the case of loans and borrowings and payables, net of directly attributable transaction costs. \u00a0
\n\t\t\t\t\tThe group\u2019s \ufb01nancial liabilities include accounts and other payables \u00a0
\n\t\t\t\t\tSubsequent measurement \u00a0
\n\t\t\t\t\tFor purposes of subsequent measurement, \ufb01nancial liabilities are classi\ufb01ed in two categories: \u00a0
\n\t\t\t\t\t\u2022 Financial liabilities at fair value through pro\ufb01t or loss \u00a0
\n\t\t\t\t\t\u2022 Financial liabilities at amortised cost (loans and borrowings) \u00a0
\n\t\t\t\t\tThe group only has \ufb01nancial liabilities measured at amortised cost \u00a0
GROUP \u00a0
\n\t\t\t\t\t31\ufffd12\ufffd2022 \u00a0
\n\t\t\t\t\t31\ufffd12\ufffd2021 \u00a0
Financial assets \u00a0
\n\t\t\t\t\tFinancial assets \u00a0
\n\t\t\t\t\tat amortised \u00a0
\n\t\t\t\t\tOther \u00a0
\n\t\t\t\t\tat amortised \u00a0
\n\t\t\t\t\tOther \u00a0
\n\t\t\t\t\t(Amounts in NOK 1 000) \u00a0
\n\t\t\t\t\tNote \u00a0
\n\t\t\t\t\tcosts \u00a0
\n\t\t\t\t\tliabilities \u00a0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\tcosts \u00a0
\n\t\t\t\t\tliabilities \u00a0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\tASSETS \u00a0
\n\t\t\t\t\tCash and cash equivalents \u00a0
\n\t\t\t\t\t5\ufffd3 \u00a0
\n\t\t\t\t\t98 716 \u00a0
\n\t\t\t\t\t98 716 \u00a0
\n\t\t\t\t\t277 706 \u00a0
\n\t\t\t\t\t277 706 \u00a0
\n\t\t\t\t\tOther current receivables \u00a0
\n\t\t\t\t\tand prepayments \u00a0
\n\t\t\t\t\t3\ufffd3, 3\ufffd4 \u00a0
\n\t\t\t\t\t10 392 \u00a0
\n\t\t\t\t\t10 392 \u00a0
\n\t\t\t\t\t13 023 \u00a0
\n\t\t\t\t\t13 023 \u00a0
\n\t\t\t\t\tTotal \ufb01nancial assets \u00a0
\n\t\t\t\t\t109 108 \u00a0
\n\t\t\t\t\t109 108 \u00a0
\n\t\t\t\t\t290 729 \u00a0
\n\t\t\t\t\t290 729 \u00a0
LIABILITIES \u00a0
\n\t\t\t\t\tOther \ufb01nancial liabilities \u00a0
\n\t\t\t\t\tAccounts and other payables \u00a0
\n\t\t\t\t\t5\ufffd4 \u00a0
\n\t\t\t\t\t44 124 \u00a0
\n\t\t\t\t\t44 124 \u00a0
\n\t\t\t\t\t146 187 \u00a0
\n\t\t\t\t\t146 187 \u00a0
\n\t\t\t\t\tTotal liabilities \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t44 124 \u00a0
\n\t\t\t\t\t44 124 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t146 187 \u00a0
\n\t\t\t\t\t146 187 \u00a0
5.3 CASH
AND CASH EQUIVALENTS \u00a0
Accounting policy \u00a0
\n\t\t\t\t\tCash equivalents are held for the purpose of meeting short-term cash commitments rather than for investment or other purposes\ufffd \u00a0
\n\t\t\t\t\tFor an investment to qualify as a cash equivalent it must be readily convertible to a known amount of cash and be subject to an \u00a0
\n\t\t\t\t\tinsigni\ufb01cant risk of changes in value. Therefore, an investment normally quali\ufb01es as a cash equivalent only when it has a short \u00a0
\n\t\t\t\t\tmaturity of, say, three months or less from the date of acquisition\ufffd \u00a0
PARENT \u00a0
\n\t\t\t\t\tGROUP \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t(Amounts in NOK 1 000) \u00a0
\n\t\t\t\t\t997 \u00a0
\n\t\t\t\t\t2 164 \u00a0
\n\t\t\t\t\tEmployee withholding tax \u00a0
\n\t\t\t\t\t2 164 \u00a0
\n\t\t\t\t\t997 \u00a0
\n\t\t\t\t\t261 933 \u00a0
\n\t\t\t\t\t82 777 \u00a0
\n\t\t\t\t\tVariable interest rate bank accounts \u00a0
\n\t\t\t\t\t96 552 \u00a0
\n\t\t\t\t\t276 709 \u00a0
\n\t\t\t\t\t262 930 \u00a0
\n\t\t\t\t\t84 941
Total cash and cash equivalents 31.12 \u00a0
\n\t\t\t\t\t98 716 \u00a0
\n\t\t\t\t\t277 706 \u00a0
\n\t\t\t\t\tOf the total balance of cash and cash equivalents, NOK 2\ufffd2 million (2021: NOK 1\ufffd0 million) relates to restricted funds for employee \u00a0
\n\t\t\t\t\twithholding taxes. The remainder of the group\u2019s cash is deposited in various banks on variable interests rate terms. In the group \u00a0
\n\t\t\t\t\tNOK 20.7 million (2021: NOK 125.5 million) are placed in bank accounts with a different currency than NOK as of 31 December \u00a0
\n\t\t\t\t\t2022\ufffd Of this total, NOK 6\ufffd9 million (2021: NOK 111\ufffd7) are placements in the parent\ufffd \u00a0
\n\t\t\t\t\tIn the group, bank deposits related to of\ufb01ce lease of NOK 1.6 million is classi\ufb01ed as other current receivables (2021: NOK 1.6 million), \u00a0
\n\t\t\t\t\thereof NOK 1\ufffd5 million is related to the parent in 2022 and NOK 1\ufffd5 million in 2021\ufffd \u00a0
5\ufffd4 CURRENT
LIABILITIES \u00a0
Accounting policy \u00a0
\n\t\t\t\t\tThe group\u2019s \ufb01nancial liabilities consist of accounts payable and other current liabilities and are classi\ufb01ed as \u201ccurrent liabilities\u201d. \u00a0
\n\t\t\t\t\tAccounts payable are obligations to pay for goods or services that have been acquired in the ordinary course of business from \u00a0
\n\t\t\t\t\tsuppliers . Accounts payable are classi\ufb01ed as current liabilities if payment is due within one year or less (or in the normal operating \u00a0
\n\t\t\t\t\tcycle of the business if longer). If not, they are presented as non-current liabilities. Accounts payable and other \ufb01nancial liabilities \u00a0
\n\t\t\t\t\tare recognised initially at fair value and subsequently measured at amortised cost using the effective interest method\ufffd \u00a0
The table below summarises the maturity pro\ufb01le of the group\u2019s \ufb01nancial liabilities based on contractual undiscounted payments: \u00a0
\n\t\t\t\t\tAs per 31 December 2022 \u00a0
\n\t\t\t\t\tGROUP \u00a0
\n\t\t\t\t\tOn Less
than \u00a0
\n\t\t\t\t\t3 to 12 \u00a0
\n\t\t\t\t\t(Amounts in NOK 1 000) \u00a0
\n\t\t\t\t\tdemand \u00a0
\n\t\t\t\t\t3 months \u00a0
\n\t\t\t\t\tmonths \u00a0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\tAccounts payable \u00a0
\n\t\t\t\t\t9 093 \u00a0
\n\t\t\t\t\t9 093 \u00a0
\n\t\t\t\t\tUnpaid duties and charges \u00a0
\n\t\t\t\t\t3 483 \u00a0
\n\t\t\t\t\t3 483 \u00a0
\n\t\t\t\t\tUnpaid vacation pay \u00a0
\n\t\t\t\t\t1 425 \u00a0
\n\t\t\t\t\t1 425 \u00a0
\n\t\t\t\t\tTax payable \u00a0
\n\t\t\t\t\t759 \u00a0
\n\t\t\t\t\t759 \u00a0
\n\t\t\t\t\tAccrued social security expenses related to outstanding \u00a0
\n\t\t\t\t\tnon exercised options, PSUs and RSUs1) \u00a0
\n\t\t\t\t\t9
\n\t\t\t\t\t9
\n\t\t\t\t\tLease liabilities \u00a0
\n\t\t\t\t\t27 \u00a0
\n\t\t\t\t\t132 \u00a0
\n\t\t\t\t\t159 \u00a0
\n\t\t\t\t\tOther accrued costs \u00a0
\n\t\t\t\t\t18 117 \u00a0
\n\t\t\t\t\t11 238 \u00a0
\n\t\t\t\t\t29 355 \u00a0
\n\t\t\t\t\tTotal current liabilities 31.12.22 \u00a0
\n\t\t\t\t\t9
\n\t\t\t\t\t30 720 \u00a0
\n\t\t\t\t\t13 554 \u00a0
\n\t\t\t\t\t44 283 \u00a0
As per 31 December 2021 \u00a0
\n\t\t\t\t\tGROUP \u00a0
\n\t\t\t\t\tOn Less
than \u00a0
\n\t\t\t\t\t3 to 12 \u00a0
\n\t\t\t\t\t(Amounts in NOK 1 000) \u00a0
\n\t\t\t\t\tdemand \u00a0
\n\t\t\t\t\t3 months \u00a0
\n\t\t\t\t\tmonths \u00a0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\tAccounts payable \u00a0
\n\t\t\t\t\t65 960 \u00a0
\n\t\t\t\t\t65 960 \u00a0
\n\t\t\t\t\tUnpaid duties and charges \u00a0
\n\t\t\t\t\t2 844 \u00a0
\n\t\t\t\t\t2 844 \u00a0
\n\t\t\t\t\tUnpaid vacation pay \u00a0
\n\t\t\t\t\t2 919 \u00a0
\n\t\t\t\t\t2 919 \u00a0
\n\t\t\t\t\tTax payable \u00a0
\n\t\t\t\t\t1 068 \u00a0
\n\t\t\t\t\t1 068 \u00a0
\n\t\t\t\t\tAccrued social security related to outstanding non exercised options, \u00a0
\n\t\t\t\t\tPSUs and RSUs *) \u00a0
\n\t\t\t\t\t1 649 \u00a0
\n\t\t\t\t\t1 649 \u00a0
\n\t\t\t\t\tLease liabilities \u00a0
\n\t\t\t\t\t2 931 \u00a0
\n\t\t\t\t\t2 577 \u00a0
\n\t\t\t\t\t5 508 \u00a0
\n\t\t\t\t\tOther accrued costs \u00a0
\n\t\t\t\t\t67 260 \u00a0
\n\t\t\t\t\t4 487 \u00a0
\n\t\t\t\t\t71 747 \u00a0
\n\t\t\t\t\tTotal current liabilities 31.12.21 \u00a0
\n\t\t\t\t\t1 649 \u00a0
\n\t\t\t\t\t138 995 \u00a0
\n\t\t\t\t\t11 051 \u00a0
\n\t\t\t\t\t151 695 \u00a0
5.5 SHARE
CAPITAL AND SHAREHOLDER INFORMATION \u00a0
As at 31 December 2022 the company\u2019s share capital is NOK 23 207 060 (31 December 2021: NOK 19 615 676), being divided into \u00a0
\n\t\t\t\t\t98 078 380 ordinary shares, each with a nominal value of NOK 0.20. All shares carry equal voting rights. \u00a0
\n\t\t\t\t\tPARENT \u00a0
\n\t\t\t\t\tNote \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tOrdinary shares at 01\ufffd01 \u00a0
\n\t\t\t\t\t98 078 380 \u00a0
\n\t\t\t\t\t79 390 612 \u00a0
\n\t\t\t\t\tIssue of ordinary shares1) \u00a0
\n\t\t\t\t\t17 914 243 \u00a0
\n\t\t\t\t\t18 577 402 \u00a0
\n\t\t\t\t\tIssue of ordinary shares under share options 2) \u00a0
\n\t\t\t\t\t42 675 \u00a0
\n\t\t\t\t\t58 400 \u00a0
\n\t\t\t\t\tIssue of ordinary shares under RSU \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t51 966 \u00a0
\n\t\t\t\t\tOrdinary shares at 31\ufffd12 \u00a0
\n\t\t\t\t\t116 035 298 \u00a0
\n\t\t\t\t\t98 078 380 \u00a0
\n\t\t\t\t\t1) In January 2022 the company raised approximately NOK 250 million in gross proceeds through a private placement of 17 857 143 new shares. The \u00a0
\n\t\t\t\t\tprivate placement was completed at a subscription price of NOK 14.00 per share. In March 2022 the company raised NOK 1 million in gross proceeds \u00a0
\n\t\t\t\t\tthrough a repair offering, which increased the company\u2019s share capital by NOK 11 420 through the issuance of 57 100 new shares. \u00a0
\n\t\t\t\t\t2) The share capital increase pertaining to settled PSUs was registered in the Norwegian Register of Business Enterprises on 25 March 2022. \u00a0
\n\t\t\t\t\tThe 2022 AGM granted an authorisation to the board to increase
the share capital by 20 per cent of the company\u2019s share capital \u00a0
\n\t\t\t\t\tat the time the authorisation is used\ufffd The authorisation has not been utilised\ufffd The 2022 AGM also granted an authorisation to the \u00a0
\n\t\t\t\t\tboard to increase the share capital with up to NOK 50 000 through the issuance of new shares at par value. The authorisation may \u00a0
\n\t\t\t\t\tonly be used to issue shares to members of the board as part of the RSU programme\ufffd The 2022 AGM also resolved to issue up to \u00a0
\n\t\t\t\t\t1 500 000 free-standing warrants to employees that were awarded PSUs. \u00a0
\n\t\t\t\t\tThe general meetings have since December 2017 resolved to issue free-standing warrants to employees awarded performance \u00a0
\n\t\t\t\t\tshare units (PSUs), and employees awarded options under the discontinued option programme. Each free-standing warrant shall, \u00a0
\n\t\t\t\t\tsubject to speci\ufb01c terms, give the right to subscribe for one new share in the company with nominal value NOK 0.20. The sole \u00a0
\n\t\t\t\t\tpurpose of these free-standing warrants is to ensure delivery of shares in the company upon exercise of PSUs or options. As per \u00a0
\n\t\t\t\t\t31 December 2022, 298 000 warrants related to options are exercisable under speci\ufb01c terms and can be converted into shares. \u00a0
\n\t\t\t\t\tSee note 6\ufffd3 for further information about the share based incentive programme\ufffd \u00a0
Nordic Nanovector ASA had 11 168 shareholders as at 31 December 2022 \u00a0
\n\t\t\t\t\tPercentage of \u00a0
\n\t\t\t\t\tShareholders \u00a0
\n\t\t\t\t\tNumber of shares \u00a0
\n\t\t\t\t\ttotal shares \u00a0
\n\t\t\t\t\t1
\n\t\t\t\t\tNorth Energy ASA \u00a0
\n\t\t\t\t\t18 347 870 \u00a0
\n\t\t\t\t\t15\ufffd81% \u00a0
\n\t\t\t\t\t2
\n\t\t\t\t\tOM Holding AS \u00a0
\n\t\t\t\t\t3 779 477 \u00a0
\n\t\t\t\t\t3\ufffd26% \u00a0
\n\t\t\t\t\t3
\n\t\t\t\t\tJon Magne Asmyr \u00a0
\n\t\t\t\t\t3 000 000 \u00a0
\n\t\t\t\t\t2\ufffd59% \u00a0
\n\t\t\t\t\t4
\n\t\t\t\t\tVegard Aavik Tors\u00e6ter \u00a0
\n\t\t\t\t\t2 031 260 \u00a0
\n\t\t\t\t\t1\ufffd75% \u00a0
\n\t\t\t\t\t5
\n\t\t\t\t\tB\u00e6kkelaget Holding AS \u00a0
\n\t\t\t\t\t1 261 118 \u00a0
\n\t\t\t\t\t1\ufffd09% \u00a0
\n\t\t\t\t\t6
\n\t\t\t\t\tNordnet Livsforsikring AS \u00a0
\n\t\t\t\t\t1 231 976 \u00a0
\n\t\t\t\t\t1\ufffd06% \u00a0
\n\t\t\t\t\t7
\n\t\t\t\t\tDanske Bank A/S \u00a0
\n\t\t\t\t\t1 075 045 \u00a0
\n\t\t\t\t\t0\ufffd93% \u00a0
\n\t\t\t\t\t8
\n\t\t\t\t\tNordnet Bank AB \u00a0
\n\t\t\t\t\t1 033 946 \u00a0
\n\t\t\t\t\t0\ufffd89% \u00a0
\n\t\t\t\t\t9
\n\t\t\t\t\tRo Invest AS \u00a0
\n\t\t\t\t\t1 010 000 \u00a0
\n\t\t\t\t\t0\ufffd87% \u00a0
\n\t\t\t\t\t10 Skandinaviske
Enskilda Banken AB \u00a0
\n\t\t\t\t\t948 088 \u00a0
\n\t\t\t\t\t0\ufffd82% \u00a0
\n\t\t\t\t\t11 Sky
High Risk AS \u00a0
\n\t\t\t\t\t889 200 \u00a0
\n\t\t\t\t\t0\ufffd77% \u00a0
\n\t\t\t\t\t12 Linux
Solution Norge AS \u00a0
\n\t\t\t\t\t845 071 \u00a0
\n\t\t\t\t\t0\ufffd73% \u00a0
\n\t\t\t\t\t13 Arne
Hellest\u00f8 AS \u00a0
\n\t\t\t\t\t800 955 \u00a0
\n\t\t\t\t\t0\ufffd69% \u00a0
\n\t\t\t\t\t14 Arne
Hellest\u00f8 \u00a0
\n\t\t\t\t\t795 000 \u00a0
\n\t\t\t\t\t0\ufffd69% \u00a0
\n\t\t\t\t\t15 Eivind
Opedal \u00a0
\n\t\t\t\t\t700 500 \u00a0
\n\t\t\t\t\t0\ufffd60% \u00a0
\n\t\t\t\t\t16 Must
Invest AS \u00a0
\n\t\t\t\t\t700 000 \u00a0
\n\t\t\t\t\t0\ufffd60% \u00a0
\n\t\t\t\t\t17 Lucellum
AS \u00a0
\n\t\t\t\t\t650 000 \u00a0
\n\t\t\t\t\t0\ufffd56% \u00a0
\n\t\t\t\t\t18 Sciencons
AS \u00a0
\n\t\t\t\t\t625 000 \u00a0
\n\t\t\t\t\t0\ufffd54% \u00a0
\n\t\t\t\t\t19 Audun
Bakke \u00a0
\n\t\t\t\t\t609 000 \u00a0
\n\t\t\t\t\t0\ufffd52% \u00a0
\n\t\t\t\t\t20 Inven2
AS \u00a0
\n\t\t\t\t\t541 247 \u00a0
\n\t\t\t\t\t0\ufffd47% \u00a0
\n\t\t\t\t\tTotal shares for top 20 shareholders \u00a0
\n\t\t\t\t\t40 874 753 \u00a0
\n\t\t\t\t\t35\ufffd23% \u00a0
\n\t\t\t\t\tTotal shares for other 11 148 shareholders \u00a0
\n\t\t\t\t\t75 160 545 \u00a0
\n\t\t\t\t\t64\ufffd77% \u00a0
\n\t\t\t\t\tTotal shares (11 168 shareholders) \u00a0
\n\t\t\t\t\t116 035 298 \u00a0
\n\t\t\t\t\t100\ufffd00% \u00a0
\n\t\t\t\t\tThe shares of Nordic Nanovector ASA have been traded on the Oslo Stock Exchange since 23 March 2015\ufffd The shareholder base \u00a0
\n\t\t\t\t\thas decreased from 11 290 shareholders as of 31 December 2021 to 11 168 shareholders as of 31 December 2022\ufffd \u00a0
5.6 FINANCE
INCOME AND FINANCE EXPENSES \u00a0
Accounting policy \u00a0
\n\t\t\t\t\tThe group and parent company\u2019s \ufb01nance income largely relates to interest received on bank deposits. Net currency gain or loss \u00a0
\n\t\t\t\t\trelated to operating items includes gain or losses on accounts payable and accounts receivable\ufffd \u00a0
PARENT \u00a0
\n\t\t\t\t\tGROUP \u00a0
\n\t\t\t\t\t2021 2022 \u00a0
\n\t\t\t\t\tNote \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t(Amounts in NOK 1 000) \u00a0
\n\t\t\t\t\tFinance income \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t10 \u00a0
\n\t\t\t\t\tInterest income on tax repaid \u00a0
\n\t\t\t\t\t36 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t1 122 \u00a0
\n\t\t\t\t\t3 081 \u00a0
\n\t\t\t\t\tInterest income on bank deposits \u00a0
\n\t\t\t\t\t5\ufffd3 \u00a0
\n\t\t\t\t\t3 153 \u00a0
\n\t\t\t\t\t1 141 \u00a0
\n\t\t\t\t\t10 135 \u00a0
\n\t\t\t\t\t8 394 \u00a0
\n\t\t\t\t\tDividends from subsidiaries \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t-2 \u00a0
\n\t\t\t\t\tOther \ufb01nance income \u00a0
\n\t\t\t\t\t100 \u00a0
\n\t\t\t\t\t78 \u00a0
\n\t\t\t\t\t11 257 \u00a0
\n\t\t\t\t\t11 483 \u00a0
\n\t\t\t\t\tTotal \ufb01nance income \u00a0
\n\t\t\t\t\t3 289 \u00a0
\n\t\t\t\t\t1 219 \u00a0
\n\t\t\t\t\tFinance expense \u00a0
\n\t\t\t\t\tOther interest expense \u00a0
\n\t\t\t\t\t414 \u00a0
\n\t\t\t\t\t66 \u00a0
\n\t\t\t\t\tInterest expense leasing \u00a0
\n\t\t\t\t\t66 \u00a0
\n\t\t\t\t\t414 \u00a0
\n\t\t\t\t\t215 \u00a0
\n\t\t\t\t\t187 \u00a0
\n\t\t\t\t\tOther fees, charges \u00a0
\n\t\t\t\t\t193 \u00a0
\n\t\t\t\t\t222 \u00a0
\n\t\t\t\t\t629 \u00a0
\n\t\t\t\t\t253 \u00a0
\n\t\t\t\t\tTotal \ufb01nance expense \u00a0
\n\t\t\t\t\t259 \u00a0
\n\t\t\t\t\t636 \u00a0
\n\t\t\t\t\tNet currency gains (losses) \u00a0
\n\t\t\t\t\t292 \u00a0
\n\t\t\t\t\t-479 \u00a0
\n\t\t\t\t\tNet currency gains related to operating items \u00a0
\n\t\t\t\t\t-469 \u00a0
\n\t\t\t\t\t484 \u00a0
\n\t\t\t\t\tNet currency gains (losses) related to foreign exchange differences \u00a0
\n\t\t\t\t\t1 229 \u00a0
\n\t\t\t\t\t4 428 \u00a0
\n\t\t\t\t\t4 428 \u00a0
\n\t\t\t\t\t1 229 \u00a0
\n\t\t\t\t\tof currency bank accounts \u00a0
\n\t\t\t\t\t1 521 \u00a0
\n\t\t\t\t\t3 949 \u00a0
\n\t\t\t\t\tNet currency gains (loss) \u00a0
\n\t\t\t\t\t3 959 \u00a0
\n\t\t\t\t\t1 713 \u00a0
\n\t\t\t\t\t12 149 \u00a0
\n\t\t\t\t\t15 179 \u00a0
\n\t\t\t\t\tNet \ufb01nance income (expenses) \u00a0
\n\t\t\t\t\t6 989 \u00a0
\n\t\t\t\t\t2 296 \u00a0
Net currency gains (losses) related to revaluation of bank deposits in other currencies than NOK is speci\ufb01ed in the table below. \u00a0
\n\t\t\t\t\tPARENT \u00a0
\n\t\t\t\t\tGROUP \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t(Amounts in NOK 1 000) \u00a0
\n\t\t\t\t\tNote \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t-535 \u00a0
\n\t\t\t\t\t2 608 \u00a0
\n\t\t\t\t\tEUR \u00a0
\n\t\t\t\t\t5\ufffd3 \u00a0
\n\t\t\t\t\t2 608 \u00a0
\n\t\t\t\t\t-535 \u00a0
\n\t\t\t\t\t655 \u00a0
\n\t\t\t\t\t1 140 \u00a0
\n\t\t\t\t\tUSD \u00a0
\n\t\t\t\t\t5\ufffd3 \u00a0
\n\t\t\t\t\t1 140 \u00a0
\n\t\t\t\t\t655 \u00a0
\n\t\t\t\t\t487 \u00a0
\n\t\t\t\t\t1 232 \u00a0
\n\t\t\t\t\tCHF \u00a0
\n\t\t\t\t\t5\ufffd3 \u00a0
\n\t\t\t\t\t1 232 \u00a0
\n\t\t\t\t\t487 \u00a0
\n\t\t\t\t\t622 \u00a0
\n\t\t\t\t\t-552 \u00a0
\n\t\t\t\t\tGBP \u00a0
\n\t\t\t\t\t5\ufffd3 \u00a0
\n\t\t\t\t\t-552 \u00a0
\n\t\t\t\t\t622 \u00a0
\n\t\t\t\t\t1 229 \u00a0
\n\t\t\t\t\t4 428 \u00a0
\n\t\t\t\t\tNet currency gains (loss) \u00a0
\n\t\t\t\t\t4 428 \u00a0
\n\t\t\t\t\t1 229 \u00a0
5.7 EARNINGS
PER SHARE (EPS) \u00a0
Accounting policy \u00a0
\n\t\t\t\t\tEarnings per share are calculated by dividing the pro\ufb01t or loss attributable to ordinary shareholders of the company by the \u00a0
\n\t\t\t\t\tweighted average number of ordinary shares outstanding during the period. Diluted earnings per share are calculated as pro\ufb01t \u00a0
\n\t\t\t\t\tor loss attributable to ordinary shareholders of the company, adjusted for the effects of all dilutive potential options\ufffd Issued share \u00a0
\n\t\t\t\t\toptions, performance share units and restricted stock units have a potential dilutive effect on earnings per share (see note 6\ufffd3 \u00a0
\n\t\t\t\t\tfor details on share based payments)\ufffd No dilutive effect has been recognised as potential ordinary shares only shall be treated \u00a0
\n\t\t\t\t\tas dilutive if their conversion to ordinary shares would decrease earnings per share, or increase loss per share from continuing \u00a0
\n\t\t\t\t\toperations. As the company is currently loss-making an increase in the average number of shares would have anti-dilutive effect. \u00a0
The calculation of basic and diluted earnings per share attributable to the ordinary shareholders of the parent is based on the data \u00a0
\n\t\t\t\t\tpresented in the table below. \u00a0
\n\t\t\t\t\tPARENT \u00a0
\n\t\t\t\t\tGROUP \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t(Amounts in NOK, except number of shares) \u00a0
\n\t\t\t\t\tNote \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t-433 151 000 \u00a0
\n\t\t\t\t\t-310 251 000
Loss for the year \u00a0
\n\t\t\t\t\t-311 241 000 \u00a0
\n\t\t\t\t\t-441 303 000 \u00a0
\n\t\t\t\t\tAverage number of outstanding shares \u00a0
\n\t\t\t\t\t94 818 761 \u00a0
\n\t\t\t\t\t115 129 972
during the year1) \u00a0
\n\t\t\t\t\t5\ufffd5 \u00a0
\n\t\t\t\t\t115 129 972 \u00a0
\n\t\t\t\t\t94 818 761 \u00a0
\n\t\t\t\t\tEarnings (loss) per share - \u00a0
\n\t\t\t\t\t-4\ufffd57 \u00a0
\n\t\t\t\t\t-2\ufffd69 basic and diluted (in NOK per share) \u00a0
\n\t\t\t\t\t-2\ufffd70 \u00a0
\n\t\t\t\t\t-4\ufffd65 \u00a0
\n\t\t\t\t\t1) The weighted number of shares takes into account the weighted average effect of changes in shares during the year. \u00a0
\n\t\t\t\t\tExercise of all outstanding PSUs and options as per 31 December 2022 would increase the total number of shares in the company \u00a0
\n\t\t\t\t\tby 298 000\ufffd See note 6\ufffd3 for more details\ufffd \u00a0
6\ufffd1 REMUNERATION
TO MANAGEMENT \u00a0
Compensation of management \u00a0
\n\t\t\t\t\t(Amounts in NOK 1 000) \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tShort term employment bene\ufb01ts 1) \u00a0
\n\t\t\t\t\t22 391 \u00a0
\n\t\t\t\t\t30 743 \u00a0
\n\t\t\t\t\tPost-employment pension 2) \u00a0
\n\t\t\t\t\t1 465 \u00a0
\n\t\t\t\t\t1 148 \u00a0
\n\t\t\t\t\tTermination bene\ufb01ts 3) \u00a0
\n\t\t\t\t\t1 016 \u00a0
\n\t\t\t\t\t-
\n\t\t\t\t\tTotal compensation of management personnel of the group in cash \u00a0
\n\t\t\t\t\t24 872 \u00a0
\n\t\t\t\t\t31 891 \u00a0
\n\t\t\t\t\tImputed share based payment expense 4) \u00a0
\n\t\t\t\t\t-2 473 \u00a0
\n\t\t\t\t\t4 044 \u00a0
\n\t\t\t\t\tTotal compensation of management personnel of the group expense \u00a0
\n\t\t\t\t\t22 399 \u00a0
\n\t\t\t\t\t35 935 \u00a0
\n\t\t\t\t\t1) Short term employment bene\ufb01ts: Includes base salary and bene\ufb01ts, vacation pay if relevant and short tem incentives including annual bonus. \u00a0
\n\t\t\t\t\t2) Post-employment pension: Represents company\u2019s share of payment to pension contribution or bene\ufb01t plan during the period. See note 6.5 for more details \u00a0
\n\t\t\t\t\ton pensions. \u00a0
\n\t\t\t\t\t3) Termination bene\ufb01ts: As of 31 Desember 2022 two members of management have receive termination bene\ufb01ts. In addition four members of management \u00a0
\n\t\t\t\t\twill receive termination bene\ufb01ts in 2023 as agreed in individual severance agreements. The total payable in 2023 is amounted to NOK 1 991 thousand. \u00a0
\n\t\t\t\t\tThis amount has been expensed in 2022, but not included in the table above. Depending on the employees duration of employment termination bene\ufb01t \u00a0
\n\t\t\t\t\trepresents severance payment of two or three months contratual pay. \u00a0
\n\t\t\t\t\t4) Imputed share based payment expense: This amount represents calculated cost related to the PSUs granted to the executives, which will be charged to the \u00a0
\n\t\t\t\t\tstatement of \ufb01nancial income in that year. These costs are estimated based on a calculation of fair value measured at grant date. The calculation is performed \u00a0
\n\t\t\t\t\tin accordance with IFRS 2 share-based payments. The actual bene\ufb01t/gain related to the PSUs are dependent on actual amount of PSUs vesting, the share \u00a0
\n\t\t\t\t\tprice at time of exercise and the exercise price. The realised bene\ufb01t/gain at vesting may be different than the imputed costs associated with the grants. \u00a0
Shares in the company are held by the members of the management group 31 December 2022. \u00a0
\n\t\t\t\t\tEmployed with \u00a0
\n\t\t\t\t\tthe Company \u00a0
\n\t\t\t\t\tNumber of \u00a0
\n\t\t\t\t\tNumber of \u00a0
\n\t\t\t\t\tName \u00a0
\n\t\t\t\t\tCurrent position within the Company \u00a0
\n\t\t\t\t\tsince \u00a0
\n\t\t\t\t\tshares 2022 1) \u00a0
\n\t\t\t\t\tshares 2021 1) \u00a0
\n\t\t\t\t\tManagement at year end \u00a0
\n\t\t\t\t\tInterim Chief Excecutive Of\ufb01cer and \u00a0
\n\t\t\t\t\tMalene Brondberg \u00a0
\n\t\t\t\t\tChief Financial Of\ufb01cer \u00a0
\n\t\t\t\t\tFebruary 2018 \u00a0
\n\t\t\t\t\t32 000 \u00a0
\n\t\t\t\t\t21 196 \u00a0
\n\t\t\t\t\tErik Skullerud \u00a0
\n\t\t\t\t\tFormer Chief Excecutive Of\ufb01cer \u00a0
\n\t\t\t\t\tSeptember 2021 \u00a0
\n\t\t\t\t\t3 571 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\tLars Nieba \u00a0
\n\t\t\t\t\tChief Technology Of\ufb01cer \u00a0
\n\t\t\t\t\tDecember 2019 \u00a0
\n\t\t\t\t\t15 713 \u00a0
\n\t\t\t\t\t15 713 \u00a0
\n\t\t\t\t\tJostein Dahle \u00a0
\n\t\t\t\t\tChief Scienti\ufb01c Of\ufb01cer \u00a0
\n\t\t\t\t\tJanuary 2011 \u00a0
\n\t\t\t\t\t212 191 \u00a0
\n\t\t\t\t\t204 958 \u00a0
\n\t\t\t\t\tTotal shares owned by management \u00a0
\n\t\t\t\t\t263 475 \u00a0
\n\t\t\t\t\t241 867 \u00a0
\n\t\t\t\t\t1) Overview includes only management still employed at 31 December 2022. Shareholding including shares held by related parties. \u00a0
Performance Share Units (PSUs) and options held by members of the management on 31 December 2022 \u00a0
\n\t\t\t\t\tManagement has no outstanding PSUs or options as per 31 December 2022\ufffd All PSUs and options held by management have \u00a0
\n\t\t\t\t\tforfeited or been settled\ufffd See note 6\ufffd3\ufffd1 and 6\ufffd3\ufffd3 for more information on the share based payment programs\ufffd \u00a0
6.2 COMPENSATION
FOR LEADERSHIP TEAM MEMBERS \u00a0
This section provides an overview of the members of the compensation committee and an overview of elements in the compensation \u00a0
\n\t\t\t\t\tof the leadership team\ufffd Further information on the compensation of the leadership team members and the board can be found in \u00a0
\n\t\t\t\t\tthe remuneration report\ufffd \u00a0
\n\t\t\t\t\tOverview of the compensation policy \u00a0
\n\t\t\t\t\tNordic Nanovector\u2019s remuneration of the leadership team is proposed by the compensation committee and approved by the board. \u00a0
\n\t\t\t\t\tThe members of the Nordic Nanovector compensation committee were, up until 15 September: \u00a0
\n\t\t\t\t\t\u2022
\n\t\t\t\t\tSolveig Hellebust \u2013 chair \u00a0
\n\t\t\t\t\t\u2022
\n\t\t\t\t\tJoanna Horobin \u00a0
\n\t\t\t\t\t\u2022
\n\t\t\t\t\tJan H\ufffd Egberts \u00a0
\n\t\t\t\t\tThe Compensation Committee played a vital role in the restructuring of the Company and the reduction of staff numbers\ufffd After the \u00a0
\n\t\t\t\t\treduction of the Board on the 15 September, the Compensation Committee\u2019s tasks were moved to the remaining Board. \u00a0
\n\t\t\t\t\tCompensation for leadership team members \u00a0
\n\t\t\t\t\tNordic Nanovector seeks to entertain a performance-oriented culture, where the individual achievement is clearly aligned with \u00a0
\n\t\t\t\t\tthe company\u2019s overall strategic objectives. The company evaluates and rewards the leadership team based on their contributions \u00a0
\n\t\t\t\t\tto the achievement of the corporate priorities set early in the year\ufffd The performance of each member of the leadership team is \u00a0
\n\t\t\t\t\treviewed on an annual basis. \u00a0
\n\t\t\t\t\tNordic Nanovector\u2019s performance-based compensation programme consists of \ufb01ve components: \u00a0
\n\t\t\t\t\t\u2022
\n\t\t\t\t\tbase salary \u00a0
\n\t\t\t\t\t\u2022
\n\t\t\t\t\tpension bene\ufb01ts and \u2013 \u00a0
\n\t\t\t\t\t\u2022
\n\t\t\t\t\tother bene\ufb01ts \u00a0
\n\t\t\t\t\t\u2022
\n\t\t\t\t\tshort-term cash bonus \u00a0
\n\t\t\t\t\t\u2022
\n\t\t\t\t\tlong-term equity award \u00a0
\n\t\t\t\t\tThe board\u2019s view is that these \ufb01ve components best align the interests of the executive leadership team with those of the \u00a0
\n\t\t\t\t\tcompany\u2019s shareholders. This alignment is achieved by keeping a substantial portion of the total compensation allocated to \u00a0
\n\t\t\t\t\t\u201cat-risk\u201d performance-based incentives using short- and long-term incentive compensation\ufffd An appropriate level and mix of \u00a0
\n\t\t\t\t\tcompensation components are determined with independent and relevant compensation data as important input. The guidelines \u00a0
\n\t\t\t\t\tapply to the \ufb01nancial year 2022 and until new guidelines are adopted by the general meeting. \u00a0
\n\t\t\t\t\tFollowing the discontinuation of PARADIGME in July 2022, the annual cash bonus plan for 2022 was cancelled and as result no \u00a0
\n\t\t\t\t\tbonuses was paid out under this plan for the year 2022. \u00a0
6.3 SHARE-BASED
PAYMENTS AND INCENTIVE PROGRAM \u00a0
Accounting policy - Share-based payments \u00a0
\n\t\t\t\t\tThe company operates equity-settled, share based compensation plans, under which the entity receives services from employees \u00a0
\n\t\t\t\t\tand board directors, and as consideration the employees or board members receive an equity instrument (options, performance \u00a0
\n\t\t\t\t\tstock units (PSUs) or restricted stock units (RSUs)) in the company\ufffd Equity-settled share based payments are measured at the fair \u00a0
\n\t\t\t\t\tvalue of the equity instruments at the grant date\ufffd \u00a0
\n\t\t\t\t\tThe fair value of the employee services received in exchange for the grant of the equity instrument are recognised as an expense, \u00a0
\n\t\t\t\t\tbased on the company\u2019s estimate of equity instruments that will eventually vest. The total amount to be expensed is determined \u00a0
\n\t\t\t\t\tby the fair value of the instrument granted, excluding the impact of any non-market service and performance vesting conditions\ufffd \u00a0
\n\t\t\t\t\tThe grant date fair value of the instrument granted is recognised as an expense with a corresponding increase in equity, over \u00a0
\n\t\t\t\t\tthe period that the employees become unconditionally entitled to the equity instrument (vesting period)\ufffd Service and non-market \u00a0
\n\t\t\t\t\tperformance conditions attached to the transactions are not taken into account in determining fair value\ufffd \u00a0
\n\t\t\t\t\tAt the end of each reporting period, the group revises its estimates of the number of equity instruments that are expected to vest \u00a0
\n\t\t\t\t\tbased on the non-market vesting conditions. It recognises the impact of the revision to original estimates, if any, in pro\ufb01t or loss, \u00a0
\n\t\t\t\t\twith a corresponding adjustment to equity. \u00a0
\n\t\t\t\t\tWhen the equity instrument is exercised, the company issues new shares. The proceeds received net of any directly attributable \u00a0
\n\t\t\t\t\ttransaction costs are recognised as share capital (nominal value) and share premium. The company will be liable for social \u00a0
\n\t\t\t\t\tsecurity on the gain from the share based incentive programme. The social security is accrued until the award is exercised/ \u00a0
\n\t\t\t\t\treleased\ufffd The social security is accrued over the corresponding vesting period\ufffd \u00a0
6.3.1 PERFORMANCE
SHARE UNITS (PSUs) \u00a0
Accounting policy \u00a0
\n\t\t\t\t\tVesting of PSUs are dependent on two factors. 50 per cent of the PSUs will vest given that internal performance conditions are \u00a0
\n\t\t\t\t\tmet. The other 50 per cent will vest given that Nordic Nanovector shares deliver a total shareholder return (TSR) above 20 per \u00a0
\n\t\t\t\t\tcent. This leads to a 33 per cent vesting, while a TSR of 60 per cent or higher leads to a vesting of 100 per cent. TSR between 20 \u00a0
\n\t\t\t\t\tand 60 per cent will lead to a linear vesting structure. \u00a0
\n\t\t\t\t\tThe fair value of the granted PSUs with market condition is measured using the Monte-Carlo model. Measurement inputs include \u00a0
\n\t\t\t\t\tshare price on measurement date, exercise price of the instrument, expected volatility, vesting period, expected dividends, the \u00a0
\n\t\t\t\t\trisk-free interest rate and the share price appreciation condition\ufffd The expected volatility is calculated based on the historic data of \u00a0
\n\t\t\t\t\tthe Nordic Nanovector share price that corresponds to the expected life of the PSU\ufffd The Monte-Carlo model simulates future share \u00a0
\n\t\t\t\t\tprices in the risk-neutral framework, which results in simulated payoff of PSU. The average discounted simulated payoff across \u00a0
\n\t\t\t\t\tsimulations is the calculated fair value of one PSU with market condition. The fair value of the granted PSUs with operational \u00a0
\n\t\t\t\t\tperformance is measured using the share price at grant date minus the nominal value of the Nordic Nanovector share\ufffd \u00a0
Overview \u00a0
\n\t\t\t\t\tThe annual general meeting on 28 April 2022 approved to continue the company\u2019s share based incentive programme and \u00a0
\n\t\t\t\t\tauthorised the board of directors to grant up to 1 500 000 PSUs from the date of the annual general meeting in 2022 to the annual \u00a0
\n\t\t\t\t\tgeneral meeting in 2023\ufffd \u00a0
\n\t\t\t\t\tDuring 2022, 934 000 new PSUs have been granted. 2 443 204 PSUs have forfeited during 2022 and 42 675 PSUs was exercised \u00a0
\n\t\t\t\t\tin January 2022. To be able to close down the share-based payment program and reduce administration cost for the program, \u00a0
\n\t\t\t\t\tremaining outstanding PSUs was settled in December 2022. In total NOK 28 000 was paid out to settle remaining outstanding \u00a0
\n\t\t\t\t\tPSUs\ufffd As per 31 December 2022 no PSUs are outstanding\ufffd \u00a0
\n\t\t\t\t\tIn accordance with the resolution at the EGM in December 2017, AGM in May 2018, April 2019, June 2020 and April 2021 and \u00a0
\n\t\t\t\t\t2022, the PSUs are secured by a corresponding number of free-standing warrants. The sole purpose of these warrants is to \u00a0
\n\t\t\t\t\tensure delivery of shares in the company upon exercise of the PSUs. The warrants do not give the PSU holders a right to subscribe \u00a0
\n\t\t\t\t\tfor any additional shares in the company\ufffd See note 6\ufffd2 for more information\ufffd \u00a0
\n\t\t\t\t\tThe PSUs are granted without consideration. The PSUs are non-transferable and will vest three years after the date of grant, \u00a0
\n\t\t\t\t\tsubject to satisfaction of the applicable vesting conditions. Upon vesting, the holder of the PSUs will receive Nordic Nanovector \u00a0
\n\t\t\t\t\tASA shares (if any), with the number of shares issuable determined by multiplying the number of PSUs granted by a factor \u00a0
\n\t\t\t\t\tof between 0 per cent and 100 per cent. Vesting of half of the granted PSUs will be determined by an operational factor and \u00a0
\n\t\t\t\t\tvesting of the other half will be determined by a share price factor (see note 6.2 for more information about how these factors are \u00a0
\n\t\t\t\t\tdetermined). Upon vesting of PSUs the holder of the PSUs will have a right to subscribe for one new share in the company for each \u00a0
\n\t\t\t\t\tvested PSU, at a subscription price per share corresponding to the par value of the company\u2019s shares currently being NOK 0.20. \u00a0
\n\t\t\t\t\tShare based payment expenses related to options and PSU\u2019s are recognised in the income statement and disclosed in note 3.2. \u00a0
Overview of outstanding PSUs \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tWeighted \u00a0
\n\t\t\t\t\tWeighted \u00a0
\n\t\t\t\t\tWeighted \u00a0
\n\t\t\t\t\tWeighted \u00a0
\n\t\t\t\t\taverage \u00a0
\n\t\t\t\t\taverage \u00a0
\n\t\t\t\t\taverage \u00a0
\n\t\t\t\t\taverage \u00a0
\n\t\t\t\t\texercise \u00a0
\n\t\t\t\t\tfair \u00a0
\n\t\t\t\t\texercise \u00a0
\n\t\t\t\t\tfair \u00a0
\n\t\t\t\t\tThe number of PSUs \u00a0
\n\t\t\t\t\tNumber of \u00a0
\n\t\t\t\t\tprice \u00a0
\n\t\t\t\t\tvalue \u00a0
\n\t\t\t\t\tNumber of \u00a0
\n\t\t\t\t\tprice \u00a0
\n\t\t\t\t\tvalue \u00a0
\n\t\t\t\t\tand average exercise prices: \u00a0
\n\t\t\t\t\tPSUs \u00a0
\n\t\t\t\t\tin NOK \u00a0
\n\t\t\t\t\tin NOK \u00a0
\n\t\t\t\t\tPSUs \u00a0
\n\t\t\t\t\tin NOK \u00a0
\n\t\t\t\t\tin NOK \u00a0
\n\t\t\t\t\tBalance at 01\ufffd01 \u00a0
\n\t\t\t\t\t1 580 000 \u00a0
\n\t\t\t\t\t0\ufffd20 \u00a0
\n\t\t\t\t\t18,45 \u00a0
\n\t\t\t\t\t774 750 \u00a0
\n\t\t\t\t\t0\ufffd20 \u00a0
\n\t\t\t\t\t23,85 \u00a0
\n\t\t\t\t\tGranted during the year \u00a0
\n\t\t\t\t\t934 000 \u00a0
\n\t\t\t\t\t0\ufffd20 \u00a0
\n\t\t\t\t\t11,46 \u00a0
\n\t\t\t\t\t1 420 000 \u00a0
\n\t\t\t\t\t0\ufffd20 \u00a0
\n\t\t\t\t\t19,66 \u00a0
\n\t\t\t\t\tExercised or released during the year*) \u00a0
\n\t\t\t\t\t-70 796 \u00a0
\n\t\t\t\t\t0\ufffd20 \u00a0
\n\t\t\t\t\t33,79 \u00a0
\n\t\t\t\t\t-42 611 \u00a0
\n\t\t\t\t\t0\ufffd20 \u00a0
\n\t\t\t\t\t74,91 \u00a0
\n\t\t\t\t\tForfeited \u00a0
\n\t\t\t\t\t-2 443 204 \u00a0
\n\t\t\t\t\t0\ufffd20 \u00a0
\n\t\t\t\t\t15,06 \u00a0
\n\t\t\t\t\t-572 139 \u00a0
\n\t\t\t\t\t0\ufffd20 \u00a0
\n\t\t\t\t\t24,51 \u00a0
\n\t\t\t\t\tBalance at 31\ufffd12 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0\ufffd20 \u00a0
\n\t\t\t\t\t-
\n\t\t\t\t\t1 580 000 \u00a0
\n\t\t\t\t\t0\ufffd20 \u00a0
\n\t\t\t\t\t18,45 \u00a0
\n\t\t\t\t\tHereof vested PSUs \u00a0
\n\t\t\t\t\t-
\n\t\t\t\t\t0
\n\t\t\t\t\tWeighted average remaining \u00a0
\n\t\t\t\t\tyears to vesting \u00a0
\n\t\t\t\t\t-
\n\t\t\t\t\t1,83 \u00a0
\n\t\t\t\t\t*) 42 675 PSUs were exercised in March 2022. Weighted average share price on the time of exercise was NOK 14.57 per share. To be able to terminate \u00a0
\n\t\t\t\t\tthe share based payment programme, 28 121 PSUs earned but not vested were settled for a total payment of NOK 28 000 in December 2022. Weighted \u00a0
\n\t\t\t\t\taverage shareprice on the time of settlement was NOK 1.13 per share. \u00a0
\n\t\t\t\t\tRemaining contractual lifetime of outstanding performance stock units per 31 December \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tWeighted average \u00a0
\n\t\t\t\t\tWeighted average \u00a0
\n\t\t\t\t\tNumber of PSUs
exercise price in NOK \u00a0
\n\t\t\t\t\tNumber of PSUs \u00a0
\n\t\t\t\t\texercise price in NOK \u00a0
\n\t\t\t\t\t0 - 1 year \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t-
\n\t\t\t\t\t213 000 \u00a0
\n\t\t\t\t\t0\ufffd20 \u00a0
\n\t\t\t\t\t1 - 2
years \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t-
\n\t\t\t\t\t428 250 \u00a0
\n\t\t\t\t\t0\ufffd20 \u00a0
\n\t\t\t\t\t2 - 3
years \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t-
\n\t\t\t\t\t938 750 \u00a0
\n\t\t\t\t\t0\ufffd20 \u00a0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t1 580 000 \u00a0
\n\t\t\t\t\t0\ufffd20 \u00a0
\n\t\t\t\t\tThe table below shows input and assumptions that have been used for the calculation of fair value of PSUs \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tDividends (NOK) \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tExpected volatility (%) \u00a0
\n\t\t\t\t\t89\ufffd62% \u00a0
\n\t\t\t\t\t88\ufffd78%-90\ufffd13% \u00a0
\n\t\t\t\t\tExercise price (NOK) \u00a0
\n\t\t\t\t\t0\ufffd2 \u00a0
\n\t\t\t\t\t0\ufffd2 \u00a0
\n\t\t\t\t\tValue weighted average share price \u00a0
\n\t\t\t\t\t14\ufffd51 \u00a0
\n\t\t\t\t\t25\ufffd45 \u00a0
\n\t\t\t\t\tShare price (NOK) \u00a0
\n\t\t\t\t\t13\ufffd44 \u00a0
\n\t\t\t\t\t23\ufffd21 \u00a0
\n\t\t\t\t\tRisk-free interest rate (%) \u00a0
\n\t\t\t\t\t2\ufffd03% \u00a0
\n\t\t\t\t\t0\ufffd71%-1\ufffd03% \u00a0
\n\t\t\t\t\tVesting date \u00a0
\n\t\t\t\t\t3 years \u00a0
\n\t\t\t\t\t3 years \u00a0
6.3.2 RESTRICTED
STOCK UNITS (RSUs) \u00a0
Accounting policy \u00a0
\n\t\t\t\t\tThe fair value of the granted RSUs without market condition is measured using the share price at grant date. \u00a0
Overview \u00a0
\n\t\t\t\t\tAt the AGM in 2022, the company resolved to issue restricted stock units (RSUs) to board directors who elected to receive all or \u00a0
\n\t\t\t\t\tparts of their remuneration, in the form of RSUs. Each board member must make such election immediately following the AGM \u00a0
\n\t\t\t\t\tresolution i\ufffde\ufffdat the beginning of the board period\ufffd
The RSUs are non-transferable and each RSU gives the right and obligation to \u00a0
\n\t\t\t\t\tacquire one share in the company at a price of NOK 0\ufffd20 per share (corresponding to the nominal value of the shares) subject to \u00a0
\n\t\t\t\t\tsatisfaction of the applicable vesting conditions stated in the RSU agreement. RSUs vest on the \ufb01rst anniversary of the AGM that \u00a0
\n\t\t\t\t\tthey were granted. For the non-US citizens the RSUs shall be settled no later than on the third anniversary of the vesting date. For \u00a0
\n\t\t\t\t\tthe US citizens the RSUs shall as a general rule be settled upon vesting\ufffd \u00a0
\n\t\t\t\t\tThe board directors who elect to receive RSUs, must elect to either (i) receive 100 per cent of the compensation in RSUs, (ii) \u00a0
\n\t\t\t\t\treceive 1/3 of the compensation in cash and 2/3 in RSUs, or (iii) receive 2/3 of the compensation in cash and 1/3 in RSUs. The \u00a0
\n\t\t\t\t\tnumber of RSUs to be granted to the board is calculated as the NOK amount of the RSU opted portion of total compensation to \u00a0
\n\t\t\t\t\tthe board director, divided by the market price for the Nordic Nanovector share. The market price is calculated as volume weighted \u00a0
\n\t\t\t\t\taverage share price the 10 trading days prior to the grant date\ufffd \u00a0
\n\t\t\t\t\tFollowing the AGM in April 2022, 75 393 RSUs were allocated. At 31 December 2022 there are 32 678 RSUs remaining as three \u00a0
\n\t\t\t\t\tboard members have left the board during 2022 after grant\ufffd \u00a0
\n\t\t\t\t\tShare based payment expenses related to RSUs are recognised in the income statement and disclosed in note 3\ufffd1\ufffd \u00a0
As per 31 December 2022 \u00a0
\n\t\t\t\t\tNumber \u00a0
\n\t\t\t\t\tRemuneration \u00a0
\n\t\t\t\t\tAllocation Remuneration \u00a0
\n\t\t\t\t\tNumber of \u00a0
\n\t\t\t\t\tMarket \u00a0
\n\t\t\t\t\tof RSUs
Tot number \u00a0
\n\t\t\t\t\tfor the period \u00a0
\n\t\t\t\t\tbetween for the period \u00a0
\n\t\t\t\t\tRSUs for \u00a0
\n\t\t\t\t\tprice on \u00a0
\n\t\t\t\t\texercised/ of RSUs \u00a0
\n\t\t\t\t\t2022-2023 \u00a0
\n\t\t\t\t\tcash and \u00a0
\n\t\t\t\t\t2022-2023 \u00a0
\n\t\t\t\t\tthe period
grant date7) \u00a0
\n\t\t\t\t\tsettled outstanding \u00a0
\n\t\t\t\t\tName \u00a0
\n\t\t\t\t\tin NOK \u00a0
\n\t\t\t\t\tRSUs \u00a0
\n\t\t\t\t\tin cash \u00a0
\n\t\t\t\t\t2022-2023 \u00a0
\n\t\t\t\t\tin NOK \u00a0
\n\t\t\t\t\tin 20228) 31 Dec 2022 \u00a0
\n\t\t\t\t\tJan H. Egberts1) \u00a0
\n\t\t\t\t\t640 000 \u00a0
\n\t\t\t\t\t1/3 RSU \u00a0
\n\t\t\t\t\t426 667 \u00a0
\n\t\t\t\t\t14 939 \u00a0
\n\t\t\t\t\t14,28 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t39 593 \u00a0
\n\t\t\t\t\tJoanna Horobin2) \u00a0
\n\t\t\t\t\t390 000 \u00a0
\n\t\t\t\t\t1/3 RSU \u00a0
\n\t\t\t\t\t260 000 \u00a0
\n\t\t\t\t\t9 103 \u00a0
\n\t\t\t\t\t14,28 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t13 905 \u00a0
\n\t\t\t\t\tKarin Meyer3) \u00a0
\n\t\t\t\t\t370 000 \u00a0
\n\t\t\t\t\t1/3 RSU \u00a0
\n\t\t\t\t\t246 667 \u00a0
\n\t\t\t\t\t8 636 \u00a0
\n\t\t\t\t\t14,28 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t18 817 \u00a0
\n\t\t\t\t\tFormer members of the board \u00a0
\n\t\t\t\t\tJean-Pierre Bizzari4) \u00a0
\n\t\t\t\t\t370 000 \u00a0
\n\t\t\t\t\t1/3 RSU \u00a0
\n\t\t\t\t\t246 667 \u00a0
\n\t\t\t\t\t8 636 \u00a0
\n\t\t\t\t\t14,28 \u00a0
\n\t\t\t\t\t8 712 \u00a0
\n\t\t\t\t\t-
\n\t\t\t\t\tThomas Ramdahl5) \u00a0
\n\t\t\t\t\t350 000 \u00a0
\n\t\t\t\t\t1/3 RSU \u00a0
\n\t\t\t\t\t233 333 \u00a0
\n\t\t\t\t\t8 169 \u00a0
\n\t\t\t\t\t14,28 \u00a0
\n\t\t\t\t\t3 443 \u00a0
\n\t\t\t\t\t-
\n\t\t\t\t\tSolveig Hellebust6) \u00a0
\n\t\t\t\t\t370 000
100% RSU \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t25 910 \u00a0
\n\t\t\t\t\t14,28 \u00a0
\n\t\t\t\t\t24 797 \u00a0
\n\t\t\t\t\t-
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\t2 490 000 \u00a0
\n\t\t\t\t\t1 413 333 \u00a0
\n\t\t\t\t\t75 393 \u00a0
\n\t\t\t\t\t36 952 \u00a0
\n\t\t\t\t\t72 315 \u00a0
1) NOK 600 000 as chairman of the board, NOK 20 000 as a member of the audit committee and NOK 20 000 as member of the compensation committee. \u00a0
\n\t\t\t\t\t2) NOK 330 000 as board member, NOK 20 000 as member of the audit committee, NOK 20 000 as member of the compensation committee and NOK 20 000 \u00a0
\n\t\t\t\t\tas member of the clinical committee. \u00a0
\n\t\t\t\t\t3) NOK 330 000 as board member and NOK 40 000 as chair of the audit commitee. \u00a0
\n\t\t\t\t\t4) NOK 330 000 as board member and NOK 40 000 as chair of the clinical committee. \u00a0
\n\t\t\t\t\t5) NOK 330 000 as board member and NOK 20,000 as member of the clinical committee. \u00a0
\n\t\t\t\t\t6) NOK 330,000 as board member and NOK 40,000 as chair of the compensation committee. \u00a0
\n\t\t\t\t\t7) The market price is calculated as volume weighted average share price the 10 trading days prior to the date of the AGM on 28 April 2022, i.e. NOK 14.28. \u00a0
\n\t\t\t\t\t8) The company also settled previous board member Rainer Boehm\u2019s 15 824 vested RSUs. See table below for details about the settlement. \u00a0
2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tWeighted \u00a0
\n\t\t\t\t\tWeighted \u00a0
\n\t\t\t\t\tWeighted \u00a0
\n\t\t\t\t\tWeighted \u00a0
\n\t\t\t\t\taverage \u00a0
\n\t\t\t\t\taverage \u00a0
\n\t\t\t\t\taverage \u00a0
\n\t\t\t\t\taverage \u00a0
\n\t\t\t\t\texercise \u00a0
\n\t\t\t\t\tfair \u00a0
\n\t\t\t\t\texercise \u00a0
\n\t\t\t\t\tfair \u00a0
\n\t\t\t\t\tNumber of \u00a0
\n\t\t\t\t\tprice \u00a0
\n\t\t\t\t\tvalue \u00a0
\n\t\t\t\t\tNumber of \u00a0
\n\t\t\t\t\tprice \u00a0
\n\t\t\t\t\tvalue \u00a0
\n\t\t\t\t\tRSUs outstanding: \u00a0
\n\t\t\t\t\tRSUs \u00a0
\n\t\t\t\t\tin NOK \u00a0
\n\t\t\t\t\tin NOK \u00a0
\n\t\t\t\t\tRSUs \u00a0
\n\t\t\t\t\tin NOK \u00a0
\n\t\t\t\t\tin NOK \u00a0
\n\t\t\t\t\tBalance at 01\ufffd01 \u00a0
\n\t\t\t\t\t73 892 \u00a0
\n\t\t\t\t\t0\ufffd20 \u00a0
\n\t\t\t\t\t29\ufffd21 \u00a0
\n\t\t\t\t\t85 233 \u00a0
\n\t\t\t\t\t0\ufffd20 \u00a0
\n\t\t\t\t\t29\ufffd97 \u00a0
\n\t\t\t\t\tGranted during the year \u00a0
\n\t\t\t\t\t75 393 \u00a0
\n\t\t\t\t\t0\ufffd20 \u00a0
\n\t\t\t\t\t13\ufffd50 \u00a0
\n\t\t\t\t\t40 625 \u00a0
\n\t\t\t\t\t0\ufffd20 \u00a0
\n\t\t\t\t\t27\ufffd44 \u00a0
\n\t\t\t\t\tExercised or settled during the year* \u00a0
\n\t\t\t\t\t-52 776 \u00a0
\n\t\t\t\t\t0\ufffd20 \u00a0
\n\t\t\t\t\t24\ufffd41 \u00a0
\n\t\t\t\t\t-51 966 \u00a0
\n\t\t\t\t\t0\ufffd20 \u00a0
\n\t\t\t\t\t29\ufffd07 \u00a0
\n\t\t\t\t\tForfeited \u00a0
\n\t\t\t\t\t-24 194 \u00a0
\n\t\t\t\t\t0\ufffd20 \u00a0
\n\t\t\t\t\t13\ufffd50 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0\ufffd20 \u00a0
\n\t\t\t\t\t-
\n\t\t\t\t\tBalance at 31\ufffd12 \u00a0
\n\t\t\t\t\t72 315 \u00a0
\n\t\t\t\t\t0\ufffd20 \u00a0
\n\t\t\t\t\t21\ufffd59 \u00a0
\n\t\t\t\t\t73 892 \u00a0
\n\t\t\t\t\t0\ufffd20 \u00a0
\n\t\t\t\t\t29\ufffd21 \u00a0
\n\t\t\t\t\tHereof vested RSUs \u00a0
\n\t\t\t\t\t39 637 \u00a0
\n\t\t\t\t\t0\ufffd20 \u00a0
\n\t\t\t\t\t28\ufffd26 \u00a0
\n\t\t\t\t\t33 267 \u00a0
\n\t\t\t\t\t0\ufffd20 \u00a0
\n\t\t\t\t\t31\ufffd37 \u00a0
\n\t\t\t\t\t*) In 2022 the company exercised it\u2019s right in accordance with the RSU agreements, to settle 52 776 RSUs in cash to board members leaving the board \u00a0
\n\t\t\t\t\tduring 2022. RSUs settled was calculated pro-rata based on actual service period on the board. The cash amount paid per RSU settled was equal to the \u00a0
\n\t\t\t\t\tcurrent market price of the shares
in the company (10 days VWAP prior to settlement date) less the nominal value of the shares. The RSUs were settled \u00a0
\n\t\t\t\t\tat NOK 1.1254 per share less nominal value of NOK 0.2 per share. \u00a0
The table below shows input and assumptions that have been used for the calculation of fair value of RSUs \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tDividends (NOK) \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tExpected volatility (%) \u00a0
\n\t\t\t\t\t69\ufffd19% \u00a0
\n\t\t\t\t\t87\ufffd42% \u00a0
\n\t\t\t\t\tExercise price (NOK) \u00a0
\n\t\t\t\t\t0\ufffd2 \u00a0
\n\t\t\t\t\t0\ufffd2 \u00a0
\n\t\t\t\t\tVWAP (10 days prior to AGM) \u00a0
\n\t\t\t\t\t14\ufffd28 \u00a0
\n\t\t\t\t\t25\ufffd68 \u00a0
\n\t\t\t\t\tShare price (NOK) \u00a0
\n\t\t\t\t\t13\ufffd70 \u00a0
\n\t\t\t\t\t27\ufffd64 \u00a0
\n\t\t\t\t\tRisk-free interest rate (%) \u00a0
\n\t\t\t\t\t1\ufffd60% \u00a0
\n\t\t\t\t\t0\ufffd30% \u00a0
\n\t\t\t\t\tVesting date \u00a0
\n\t\t\t\t\t1 years \u00a0
\n\t\t\t\t\t1 years \u00a0
6.3.3 SHARE
OPTION PROGRAMME \u00a0
Accounting policy \u00a0
\n\t\t\t\t\tThe fair value of the equity instrument granted is measured using the Black-Scholes model\ufffd Measurement inputs include share \u00a0
\n\t\t\t\t\tprice on measurement date, exercise price of the instrument, expected volatility, weighted average expected life of the instruments, \u00a0
\n\t\t\t\t\texpected dividends, and the risk free interest rate\ufffd At last grant of options historic volatility of the Nordic Nanovector share price \u00a0
\n\t\t\t\t\tdid not provide suf\ufb01cient historic data that corresponds to the expected life of the option. The expected volatility was therefore \u00a0
\n\t\t\t\t\testimated based on the volatility of comparable listed companies\ufffd Risk free interest rates should be equal to the expected term of \u00a0
\n\t\t\t\t\tthe option being valued. For the options quoted in NOK, rates from Norges Bank on grant date are used (bonds and certi\ufb01cates). \u00a0
\n\t\t\t\t\tThe rates are interpolated in order to match the expected term\ufffd For calculation of fair value of the options it is assumed that \u00a0
\n\t\t\t\t\texpected exercise is one year after vesting date on all grants except for options granted before March 2015\ufffd For options granted \u00a0
\n\t\t\t\t\tbefore March 2015 expected exercise date is vesting date\ufffd \u00a0
Overview \u00a0
\n\t\t\t\t\tThe share option programme was discontinued in 2017 and no options have been granted since it was discontiuned. Options \u00a0
\n\t\t\t\t\tgranted under the programme will remain valid with its existing terms. In accordance with the resolution at the EGM held on 20 \u00a0
\n\t\t\t\t\tDecember 2017, the options previously granted are secured by a corresponding number of free-standing warrants. The sole \u00a0
\n\t\t\t\t\tpurpose of these warrants is to ensure delivery of shares in the company upon exercise of the options. The warrants do not give \u00a0
\n\t\t\t\t\tthe option holders a right to subscribe for any additional shares in the company\ufffd \u00a0
\n\t\t\t\t\tIt is a condition for vesting that the option holder is an employee of the group at the time of vesting\ufffd Vested options may
be \u00a0
\n\t\t\t\t\texercised in a period of 15 Norwegian business days from the day following the day of the company\u2019s release of its quarterly \u00a0
\n\t\t\t\t\tresults, unless the board resolves otherwise. The options expire seven years from grant date. Share based payment expenses \u00a0
\n\t\t\t\t\trelated to options and PSU\u2019s are recognised in the income statement and disclosed in note 3.2. \u00a0
2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tThe number of employee share \u00a0
\n\t\t\t\t\tNumber of \u00a0
\n\t\t\t\t\tWeighted average \u00a0
\n\t\t\t\t\tNumber of \u00a0
\n\t\t\t\t\tWeighted average \u00a0
\n\t\t\t\t\toptions and average exercise prices \u00a0
\n\t\t\t\t\toptions exercise price in NOK \u00a0
\n\t\t\t\t\toptions exercise price in NOK \u00a0
\n\t\t\t\t\tBalance at 01\ufffd01 \u00a0
\n\t\t\t\t\t676 300 \u00a0
\n\t\t\t\t\t42\ufffd64 \u00a0
\n\t\t\t\t\t1 351 967 \u00a0
\n\t\t\t\t\t40\ufffd74 \u00a0
\n\t\t\t\t\tGranted during the year \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tExercised during the year* \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t-65 900 \u00a0
\n\t\t\t\t\t15\ufffd61 \u00a0
\n\t\t\t\t\tForfeited / cancelled \u00a0
\n\t\t\t\t\t-378 300 \u00a0
\n\t\t\t\t\t32\ufffd70 \u00a0
\n\t\t\t\t\t-609 767 \u00a0
\n\t\t\t\t\t41\ufffd36 \u00a0
\n\t\t\t\t\tBalance at 31\ufffd12 \u00a0
\n\t\t\t\t\t298 000 \u00a0
\n\t\t\t\t\t55\ufffd24 \u00a0
\n\t\t\t\t\t676 300 \u00a0
\n\t\t\t\t\t42\ufffd64 \u00a0
\n\t\t\t\t\tHereof vested options \u00a0
\n\t\t\t\t\t298 000 \u00a0
\n\t\t\t\t\t55\ufffd24 \u00a0
\n\t\t\t\t\t676 300 \u00a0
\n\t\t\t\t\t42\ufffd64 \u00a0
\n\t\t\t\t\t*) Weighted average share price on the time of exercise was NOK 26.41 per share in 2021. \u00a0
Remaining contractual lifetime of outstanding share options per 31 December 2022 \u00a0
\n\t\t\t\t\tNumber of options \u00a0
\n\t\t\t\t\tExcercise price in NOK \u00a0
\n\t\t\t\t\t0 - 1 years \u00a0
\n\t\t\t\t\t298 000 \u00a0
\n\t\t\t\t\t55,24 \u00a0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\t298 000 \u00a0
\n\t\t\t\t\t55,24 \u00a0
6\ufffd4 REMUNERATION
TO THE BOARD \u00a0
The AGM held on 28 April 2022 resolved remuneration to the board and the nomination committee for the period from the 2022 \u00a0
\n\t\t\t\t\tAGM until the AGM in 2023 as shown in the table below. On 15 September 2022 the company announced that following the \u00a0
\n\t\t\t\t\tdecision to discontinue the PARADIGME study three board members had decided to step down. Solveig Hellebust, Jean Pierre \u00a0
\n\t\t\t\t\tBizzari and Thomas Ramdahl left the company\u2019s board with immediate effect. For the remainder of 2022 the board consisted of \u00a0
\n\t\t\t\t\tJan H. Egberts (Chair), Joanna Horobin and Karin Meyer. At the same time the compensation-, audit- and clinical committee\u2019s \u00a0
\n\t\t\t\t\ttasks were moved to the remaining board. \u00a0
\n\t\t\t\t\tBoard of \u00a0
\n\t\t\t\t\tAudit \u00a0
\n\t\t\t\t\tCompensation \u00a0
\n\t\t\t\t\tClinical \u00a0
\n\t\t\t\t\tNomination \u00a0
\n\t\t\t\t\t(Amounts in NOK 1 000, \u00a0
\n\t\t\t\t\texclusive of social security) \u00a0
\n\t\t\t\t\tdirectors \u00a0
\n\t\t\t\t\tcommittee \u00a0
\n\t\t\t\t\tcommittee \u00a0
\n\t\t\t\t\tcommittee \u00a0
\n\t\t\t\t\tcommittee \u00a0
\n\t\t\t\t\tChair \u00a0
\n\t\t\t\t\t600 \u00a0
\n\t\t\t\t\t40 \u00a0
\n\t\t\t\t\t40 \u00a0
\n\t\t\t\t\t40 \u00a0
\n\t\t\t\t\t45 \u00a0
\n\t\t\t\t\tMembers \u00a0
\n\t\t\t\t\t330 \u00a0
\n\t\t\t\t\t20 \u00a0
\n\t\t\t\t\t20 \u00a0
\n\t\t\t\t\t20 \u00a0
\n\t\t\t\t\t25 \u00a0
\n\t\t\t\t\tBoard of directors and their roles \u00a0
\n\t\t\t\t\tBoard of \u00a0
\n\t\t\t\t\tAudit \u00a0
\n\t\t\t\t\tCompensation \u00a0
\n\t\t\t\t\tClinical \u00a0
\n\t\t\t\t\tBoard member \u00a0
\n\t\t\t\t\tdirectors \u00a0
\n\t\t\t\t\tcommittee \u00a0
\n\t\t\t\t\tcommittee \u00a0
\n\t\t\t\t\tcommittee \u00a0
\n\t\t\t\t\tJan H\ufffd Egberts \u00a0
\n\t\t\t\t\tChair \u00a0
\n\t\t\t\t\tMember \u00a0
\n\t\t\t\t\tMember \u00a0
\n\t\t\t\t\tKarin Meyer \u00a0
\n\t\t\t\t\tMember \u00a0
\n\t\t\t\t\tChair \u00a0
\n\t\t\t\t\tJoanna Horobin \u00a0
\n\t\t\t\t\tMember \u00a0
\n\t\t\t\t\tMember \u00a0
\n\t\t\t\t\tMember \u00a0
\n\t\t\t\t\tMember \u00a0
\n\t\t\t\t\tJean-Pierre Bizzari 1) \u00a0
\n\t\t\t\t\tMember \u00a0
\n\t\t\t\t\tChair \u00a0
\n\t\t\t\t\tThomas Ramdahl 1) \u00a0
\n\t\t\t\t\tMember \u00a0
\n\t\t\t\t\tMember \u00a0
\n\t\t\t\t\tSolveig Hellebust 1) \u00a0
\n\t\t\t\t\tMember \u00a0
\n\t\t\t\t\tChair \u00a0
\n\t\t\t\t\t1) Board member until September 2022 \u00a0
Members of the board committees, such as the audit committee, the compensation committee and the clinical committee shall re- \u00a0
\n\t\t\t\t\tceive remuneration of NOK 4 000 per committee meeting, but not less than NOK 20 000 for each committee member\ufffd The chair of \u00a0
\n\t\t\t\t\teach committee will receive NOK 8 000 per meeting and minimum NOK 40 000. In order to attract international board members, it \u00a0
\n\t\t\t\t\twas approved to pay board members EUR 100 per lost working hour when traveling to attend board meetings. \u00a0
\n\t\t\t\t\tAt the 2022 AGM, the shareholders approved the issuance of restricted stock units (RSUs) to board members, who elected to re- \u00a0
\n\t\t\t\t\tceive all or parts of their remuneration in the form of RSUs. The board members\u2018 election of RSUs as part of their remuneration is \u00a0
\n\t\t\t\t\tdisclosed in note 6\ufffd3\ufffd2\ufffd \u00a0
Remuneration to the board for the 12 month period from AGM to AGM the following year \u00a0
\n\t\t\t\t\tBoard fee and fees for committee work2) \u00a0
\n\t\t\t\t\t(Amounts in NOK 1 000, \u00a0
\n\t\t\t\t\tServed since / \u00a0
\n\t\t\t\t\texcept number of shares) \u00a0
\n\t\t\t\t\tperiod on the board \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tBoard per 31 December 2022 \u00a0
\n\t\t\t\t\tJan H\ufffd Egberts1) \u00a0
\n\t\t\t\t\tFebruary 2019 \u00a0
\n\t\t\t\t\t640 \u00a0
\n\t\t\t\t\t620 \u00a0
\n\t\t\t\t\tJoanna Horobin \u00a0
\n\t\t\t\t\tOctober 2016 \u00a0
\n\t\t\t\t\t390 \u00a0
\n\t\t\t\t\t370 \u00a0
\n\t\t\t\t\tKarin Meyer \u00a0
\n\t\t\t\t\tJune 2020 \u00a0
\n\t\t\t\t\t370 \u00a0
\n\t\t\t\t\t370 \u00a0
\n\t\t\t\t\tFormer member of the board \u00a0
\n\t\t\t\t\tJean-Pierre Bizzari4) \u00a0
\n\t\t\t\t\tMay 2016 - September 2022 \u00a0
\n\t\t\t\t\t370 \u00a0
\n\t\t\t\t\t370 \u00a0
\n\t\t\t\t\tSolveig Hellebust 4) \u00a0
\n\t\t\t\t\tApril 2021 - September 2022 \u00a0
\n\t\t\t\t\t370 \u00a0
\n\t\t\t\t\t350 \u00a0
\n\t\t\t\t\tThomas Ramdahl 5) \u00a0
\n\t\t\t\t\tApril 2022 - September 2022 \u00a0
\n\t\t\t\t\t350 \u00a0
\n\t\t\t\t\t-
\n\t\t\t\t\tPer Samuelsson \u00a0
\n\t\t\t\t\tNovember 2014 - April 2022 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t390 \u00a0
\n\t\t\t\t\tRainer Boehm \u00a0
\n\t\t\t\t\tMay 2018 - April 2022 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t350 \u00a0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\t2 490 \u00a0
\n\t\t\t\t\t2 820 \u00a0
Shares held by the board at year end \u00a0
\n\t\t\t\t\tNumber of shares as of 31.123) \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t32 617 \u00a0
\n\t\t\t\t\t29 046 \u00a0
\n\t\t\t\t\t25 240 \u00a0
\n\t\t\t\t\t25 240 \u00a0
\n\t\t\t\t\t1 286 \u00a0
\n\t\t\t\t\t571 \u00a0
\n\t\t\t\t\t-
\n\t\t\t\t\t20 452 \u00a0
\n\t\t\t\t\t-
\n\t\t\t\t\t-
\n\t\t\t\t\t-
\n\t\t\t\t\t-
\n\t\t\t\t\t-
\n\t\t\t\t\t0
\n\t\t\t\t\t-
\n\t\t\t\t\t5 904 \u00a0
\n\t\t\t\t\t59 143 \u00a0
\n\t\t\t\t\t81 213 \u00a0
1) In
2022 and 2021 the group has used the professional services of its chairperson in relation to consulting services. The consulting services is related \u00a0
\n\t\t\t\t\tto work beyond regular board duties. See section 8.2 for details. \u00a0
\n\t\t\t\t\t2) Minimum fees for committee work included i.e. \ufb01ve meetings per period. \u00a0
\n\t\t\t\t\t3) Shareholdings
are not included for representatives who are no longer members as of 31 December 2022. \u00a0
\n\t\t\t\t\t4) In September the company announced that following the decision to discontinue the PARADIGME study three board members had decided to step down. \u00a0
\n\t\t\t\t\tSolveig Hellebust, Jean Pierre Bizzari and Thomas Ramdahl left the company\u2019s Board with immediate effect. They received pro-rata board fee for their actual \u00a0
\n\t\t\t\t\tservice period as board member. For the remainder of 2022 the board consisted of Jan H. Egberts (Chair), Joanna Horobin and Karin Meyer. \u00a0
\n\t\t\t\t\t5) In 2022 the group has used the professional services from Thomas Ramdahl related to the proposed merger with APIM. The consulting services is related \u00a0
\n\t\t\t\t\tto work beyond regular board duties. See note 8.2 for details. \u00a0
The total remuneration for the board recognised as expense in the accounts for 2022 was NOK 2.4 million (NOK 3.4 million), hereof \u00a0
\n\t\t\t\t\tNOK 1\ufffd5 million in fees payable in cash (NOK 2\ufffd4 million) and NOK 0\ufffd9 million (NOK 1\ufffd3 million) for imputed costs related to share \u00a0
\n\t\t\t\t\tbased payments (RSUs), which has no cash effect. Total remuneration to the board is classi\ufb01ed as other operating expenses and \u00a0
\n\t\t\t\t\tincludes fees for committee work and compensation for lost working hours when traveling to attend the board meetings. \u00a0
6.5 PENSION
Accounting policy \u00a0
\n\t\t\t\t\tDe\ufb01ned contribution plans \u00a0
\n\t\t\t\t\tThe pension premiums related to de\ufb01ned contribution plans are charged to expenses as they are incurred. \u00a0
\n\t\t\t\t\tDe\ufb01ned bene\ufb01t plans \u00a0
\n\t\t\t\t\tDe\ufb01ned bene\ufb01t plans are valued at the present value of accrued future pension bene\ufb01ts at the end of the reporting period. Pension \u00a0
\n\t\t\t\t\tplan assets are valued at their fair value\ufffd \u00a0
\n\t\t\t\t\tThe current service cost and net interest income/costs are recognised immediately and are presented as payroll and related \u00a0
\n\t\t\t\t\texpenses in the income statement. Net interest income/costs are calculated by using the discount rate of the liability at the beginning \u00a0
\n\t\t\t\t\tof the period on the net liability, but classi\ufb01ed as part of payroll and related costs. Changes in net pension liabilities as a result of \u00a0
\n\t\t\t\t\tpayments of premiums and pension payments have been taken into consideration. The difference between the actual return and the \u00a0
\n\t\t\t\t\taccounted return is recognised continuously through other comprehensive income\ufffd The pension costs are affecting the payroll and \u00a0
\n\t\t\t\t\trelated expenses in the income statement\ufffd Actuarial gains and losses, including changes in value, both for assets and liabilities, are \u00a0
\n\t\t\t\t\trecognised through other comprehensive income. Actuarial gains and losses are not reclassi\ufb01ed over pro\ufb01t and loss. \u00a0
\n\t\t\t\t\tGains or losses on the curtailment or settlement of a de\ufb01ned bene\ufb01t plan are recognised through pro\ufb01t and loss when the \u00a0
\n\t\t\t\t\tcurtailment or settlement occurs\ufffd \u00a0
\n\t\t\t\t\tA curtailment occurs when the group decides to make a material reduction in the number of employees covered by a plan or \u00a0
\n\t\t\t\t\tamends the terms of a de\ufb01ned bene\ufb01t plan, such that a considerable part of the current employees\u2019 future earnings will no longer \u00a0
\n\t\t\t\t\tqualify for bene\ufb01ts or will qualify only for reduced bene\ufb01ts. \u00a0
\n\t\t\t\t\tThe introduction of a new de\ufb01ned bene\ufb01t plan or an improvement to the current de\ufb01ned bene\ufb01t plan will lead to changes in \u00a0
\n\t\t\t\t\tthe pension liabilities. These will be charged to expenses in a straight line during the period until the effect of the change has \u00a0
\n\t\t\t\t\tbeen accrued. The introduction of new plans or changes to existing plans, which take place with retroactive effect so that the \u00a0
\n\t\t\t\t\temployees immediately accrue a paid-up policy (or a change in a paid-up policy) are recognised in the statement of comprehensive \u00a0
\n\t\t\t\t\tincome immediately\ufffd Gains or losses linked to curtailments or terminations of pension plans are recognised in the statement of \u00a0
\n\t\t\t\t\tcomprehensive income when they arise. \u00a0
Total pension expense (recognised in the consolidated statement of pro\ufb01t or loss) \u00a0
\n\t\t\t\t\tPARENT \u00a0
\n\t\t\t\t\tGROUP \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t(Amounts in NOK 1 000) \u00a0
\n\t\t\t\t\tNote \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t1 673 \u00a0
\n\t\t\t\t\t1 701 \u00a0
\n\t\t\t\t\tPension contributions \u00a0
\n\t\t\t\t\t3 111 \u00a0
\n\t\t\t\t\t2 777 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tDe\ufb01ned bene\ufb01t plan in Nordic Nanovector GmbH1) \u00a0
\n\t\t\t\t\t1 796 \u00a0
\n\t\t\t\t\t388 \u00a0
\n\t\t\t\t\t1 673 \u00a0
\n\t\t\t\t\t1 701 \u00a0
\n\t\t\t\t\tTotal pension expense \u00a0
\n\t\t\t\t\t3\ufffd2 \u00a0
\n\t\t\t\t\t4 907 \u00a0
\n\t\t\t\t\t3 165 \u00a0
\n\t\t\t\t\t* From 1 January 2022, the retirement conversion rates was reduced for both the mandatory and the over-mandatory portions of the de\ufb01ned bene\ufb01t \u00a0
\n\t\t\t\t\tplan members account balances. This change is treated as plan amendment leading to a plan change income of NOK 583k for the \ufb01nancial year 2021. \u00a0
De\ufb01ned contribution plan \u00a0
\n\t\t\t\t\tThe parent company has a de\ufb01ned contribution pension scheme that complies with the requirements of Norwegian occupational \u00a0
\n\t\t\t\t\tpension legislation (OTP)\ufffd 13 employees are included in this scheme as of 31 December 2022 (2021: 19 employees)\ufffd Nordic \u00a0
\n\t\t\t\t\tNanovector Ltd has a statutory pension scheme as required by the UK government, which has three active participants at year-end \u00a0
\n\t\t\t\t\t2022 (2021: 12 employees). Nordic Nanovector\u2019s Danish Branch was closed down in December 2022. The branch had a de\ufb01ned \u00a0
\n\t\t\t\t\tcontribution scheme with four active members in 2021. \u00a0
De\ufb01ned bene\ufb01t plan \u00a0
\n\t\t\t\t\tNordic Nanovector\u2019s subsidiary in Switzerland has a pension scheme with the requirements of the Swiss Federal Social Insurance \u00a0
\n\t\t\t\t\tLegislation (BSV). The plan is classed as a cash balance plan, valued as a de\ufb01ned bene\ufb01t plan for IFRS purposes (IAS 19). The \u00a0
\n\t\t\t\t\tplan has two active participants and no pensioners as at 31 December, 2022 (2021: six active employees). \u00a0
Description of plan characteristics and associated risks \u00a0
\n\t\t\t\t\tNordic Nanovector GmbH meets its obligations to provide retirement and risk bene\ufb01ts to employees via a (fully insured) contract \u00a0
\n\t\t\t\t\twith Sammelstiftung BVG Allianz Suisse Lebensversicherungs-Gesellschaft (Allianz). The company has overall responsibility for \u00a0
\n\t\t\t\t\tdeciding on the level and structure of plan bene\ufb01ts subject to certain minimum legal requirements. The plan is governed by Allianz. \u00a0
\n\t\t\t\t\tThe company has a pension committee which is equally represented by employees and employer representatives. The duties of \u00a0
\n\t\t\t\t\tthe pension committee are expressed in the organisational rules of Allianz and mainly cover choice of appropriate plan design, \u00a0
\n\t\t\t\t\tcontrol of contributions into the plan, periodic information to its plan members, use of excess assets if any and others\ufffd \u00a0
\n\t\t\t\t\tThe company and employees pay \ufb01xed contributions to the plan. Each employee has an account balance which consists of \u00a0
\n\t\t\t\t\taccumulated contributions and interest credited by Allianz\ufffd The level of interest granted each year is discretionary and determined \u00a0
\n\t\t\t\t\tby Allianz considering the minimum legal requirements for interest. At retirement, employees can choose whether to take their \u00a0
\n\t\t\t\t\tbene\ufb01ts as a lump sum or receive an annual pension. The amount of annual pension depends on the factor in force at the time of \u00a0
\n\t\t\t\t\tretirement that is set by Allianz\ufffd \u00a0
\n\t\t\t\t\tThe plan includes a number of guarantees which expose the company to risks. The main risks that the plan has include: \u00a0
\n\t\t\t\t\t-
\n\t\t\t\t\tInvestment risk: There is a guaranteed return on employees\u2019 account balances of at least 0 per cent p.a. on the total account \u00a0
\n\t\t\t\t\tbalance\ufffd The investment strategy is set by Allianz and therefore the asset held by the company is effectively the insurance \u00a0
\n\t\t\t\t\tcontract rather than the underlying assets\ufffd \u00a0
\n\t\t\t\t\t-
\n\t\t\t\t\tPensioner longevity and investment risk: The pension plan offers a lifelong pension in lieu of the cash lump sum at retirement\ufffd \u00a0
\n\t\t\t\t\tThe plan has de\ufb01ned rates for converting the lump sum to a pension and there is the risk that the members live longer \u00a0
\n\t\t\t\t\tthan implied by these conversion rates and / or that the pension assets don\u2019t achieve the investment return implied by these \u00a0
\n\t\t\t\t\tconversion rates \ufffd \u00a0
\n\t\t\t\t\tThe nature of the risks of Swiss pension plans means that plans can become underfunded if assumptions are not borne out in \u00a0
\n\t\t\t\t\tpractice; however, these risks are borne by Allianz and effectively the company\u2019s plan has constantly a funding level of 100 per cent \u00a0
\n\t\t\t\t\taccording to funding requirements. The company remains responsible for providing bene\ufb01ts to members if the Allianz contract is \u00a0
\n\t\t\t\t\tcancelled or Allianz is unable to meet its obligations\ufffd If the contract is cancelled, or Allianz is unable to meet its obligations, it could \u00a0
\n\t\t\t\t\tbe possible to take out an equivalent contract with a different provider. The Allianz contract is automatically renewed each year. \u00a0
Determination of economic bene\ufb01t available \u00a0
\n\t\t\t\t\tNo determination of economic bene\ufb01t available has been made since the plan has a de\ufb01cit according to the IAS 19 valuation. \u00a0
\n\t\t\t\t\tBalance sheet position \u00a0
\n\t\t\t\t\tGROUP \u00a0
\n\t\t\t\t\t(Amounts in NOK 1 000) \u00a0
\n\t\t\t\t\t31\ufffd12\ufffd2022 \u00a0
\n\t\t\t\t\t31\ufffd12\ufffd2021 \u00a0
\n\t\t\t\t\tDe\ufb01ned bene\ufb01t obligation \u00a0
\n\t\t\t\t\t-13 560 \u00a0
\n\t\t\t\t\t-19 648 \u00a0
\n\t\t\t\t\tPlan assets \u00a0
\n\t\t\t\t\t12 040 \u00a0
\n\t\t\t\t\t15 187 \u00a0
\n\t\t\t\t\tDe\ufb01ned bene\ufb01t (liability) \u00a0
\n\t\t\t\t\t-1 520 \u00a0
\n\t\t\t\t\t-4 461 \u00a0
\n\t\t\t\t\tAssumptions \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tDiscount rate \u00a0
\n\t\t\t\t\t2\ufffd30% \u00a0
\n\t\t\t\t\t0\ufffd30% \u00a0
\n\t\t\t\t\tInterest credit rate \u00a0
\n\t\t\t\t\t2\ufffd30% \u00a0
\n\t\t\t\t\t0\ufffd45% \u00a0
\n\t\t\t\t\tAnnual salary increase \u00a0
\n\t\t\t\t\t2\ufffd50% \u00a0
\n\t\t\t\t\t2\ufffd50% \u00a0
\n\t\t\t\t\tActuarial tables \u00a0
\n\t\t\t\t\tBVG 2020 (CMI) \u00a0
\n\t\t\t\t\tBVG 2020 (CMI) \u00a0
\n\t\t\t\t\tTurnover rates \u00a0
\n\t\t\t\t\t200% BVG 2020 \u00a0
\n\t\t\t\t\t200% BVG 2020 \u00a0
Change in plan assets during the period \u00a0
\n\t\t\t\t\tGROUP \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t(Amounts in NOK 1 000) \u00a0
\n\t\t\t\t\tPlan asset at fair value at 1 January \u00a0
\n\t\t\t\t\t15 187 \u00a0
\n\t\t\t\t\t14 977 \u00a0
\n\t\t\t\t\tEmployer contribution \u00a0
\n\t\t\t\t\t1 480 \u00a0
\n\t\t\t\t\t1 044 \u00a0
\n\t\t\t\t\tEmployee contribution \u00a0
\n\t\t\t\t\t1 480 \u00a0
\n\t\t\t\t\t1 044 \u00a0
\n\t\t\t\t\tActual return on plan assets \u00a0
\n\t\t\t\t\t70 \u00a0
\n\t\t\t\t\t103 \u00a0
\n\t\t\t\t\tBene\ufb01ts paid, transferred balances \u00a0
\n\t\t\t\t\t-7 360 \u00a0
\n\t\t\t\t\t-2 023 \u00a0
\n\t\t\t\t\tInterest income \u00a0
\n\t\t\t\t\t60 \u00a0
\n\t\t\t\t\t9
\n\t\t\t\t\tExpected admin expense \u00a0
\n\t\t\t\t\t-70 \u00a0
\n\t\t\t\t\t-66 \u00a0
\n\t\t\t\t\tExchange differences \u00a0
\n\t\t\t\t\t1 193 \u00a0
\n\t\t\t\t\t99 \u00a0
\n\t\t\t\t\tPlan asset at fair value at 31 December \u00a0
\n\t\t\t\t\t12 040 \u00a0
\n\t\t\t\t\t15 187 \u00a0
Change in de\ufb01ned bene\ufb01t obligation during the period \u00a0
\n\t\t\t\t\tGROUP \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t(Amounts in NOK 1 000) \u00a0
\n\t\t\t\t\tDe\ufb01ned bene\ufb01t obligation at 1 January \u00a0
\n\t\t\t\t\t19 647 \u00a0
\n\t\t\t\t\t20 002 \u00a0
\n\t\t\t\t\tInterest costs \u00a0
\n\t\t\t\t\t60 \u00a0
\n\t\t\t\t\t9
\n\t\t\t\t\tCurrent service costs (net of employee contributions) \u00a0
\n\t\t\t\t\t1 651 \u00a0
\n\t\t\t\t\t969 \u00a0
\n\t\t\t\t\tEmployee contribution \u00a0
\n\t\t\t\t\t1 480 \u00a0
\n\t\t\t\t\t1 044 \u00a0
\n\t\t\t\t\tBene\ufb01t paid, transferred balances \u00a0
\n\t\t\t\t\t-7 360 \u00a0
\n\t\t\t\t\t-2 023 \u00a0
\n\t\t\t\t\tPlan amendments \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t-583 \u00a0
\n\t\t\t\t\tActuarial (gain)/loss \u00a0
\n\t\t\t\t\t-3 363 \u00a0
\n\t\t\t\t\t122 \u00a0
\n\t\t\t\t\tExchange differences \u00a0
\n\t\t\t\t\t1 445 \u00a0
\n\t\t\t\t\t108 \u00a0
\n\t\t\t\t\tDe\ufb01ned bene\ufb01t obligation at 31 December \u00a0
\n\t\t\t\t\t13 560 \u00a0
\n\t\t\t\t\t19 648 \u00a0
Reconciliation of the balance sheet position \u00a0
\n\t\t\t\t\tGROUP \u00a0
\n\t\t\t\t\t(Amounts in NOK 1 000) \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tNet liability / (asset) in the balance sheet at start of year \u00a0
\n\t\t\t\t\t4 461 \u00a0
\n\t\t\t\t\t5 025 \u00a0
\n\t\t\t\t\tNet periodic pension cost of employer \u00a0
\n\t\t\t\t\t1 796 \u00a0
\n\t\t\t\t\t388 \u00a0
\n\t\t\t\t\tContributions by the employer \u00a0
\n\t\t\t\t\t-1 542 \u00a0
\n\t\t\t\t\t-977 \u00a0
\n\t\t\t\t\tAmounts recognised in OCI - not reversable \u00a0
\n\t\t\t\t\t-3 614 \u00a0
\n\t\t\t\t\t20 \u00a0
\n\t\t\t\t\tAmounts recognised in OCI - reversable \u00a0
\n\t\t\t\t\t419 \u00a0
\n\t\t\t\t\t6
\n\t\t\t\t\tNet liability / (asset) in the balance sheet at end of the year \u00a0
\n\t\t\t\t\t1 520 \u00a0
\n\t\t\t\t\t4 461 \u00a0
7.1 INCOME
TAX \u00a0
Accounting policy \u00a0
\n\t\t\t\t\tIncome tax expense represents the sum of taxes currently payable and deferred tax\ufffd Deferred taxes are recognised based on \u00a0
\n\t\t\t\t\ttemporary differences between the carrying amounts of assets and liabilities in the \ufb01nancial statements and the corresponding \u00a0
\n\t\t\t\t\ttax bases used in the computation of taxable pro\ufb01t. Deferred tax liabilities are recognised for taxable temporary differences, and \u00a0
\n\t\t\t\t\tdeferred tax assets arising from deductible temporary differences are recognised to the extent that it is probable that taxable \u00a0
\n\t\t\t\t\tpro\ufb01ts will be available against which deductible temporary differences can be utilised. Deferred tax liabilities and assets are \u00a0
\n\t\t\t\t\tmeasured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax \u00a0
\n\t\t\t\t\trates that have been enacted or substantively enacted by the end of the reporting period\ufffd \u00a0
\n\t\t\t\t\tThe company is in the research phase of its product development and has incurred signi\ufb01cant tax losses related to its operations. \u00a0
\n\t\t\t\t\tThe deferred tax asset has not been recognised in the statement of \ufb01nancial position, as the company does not consider that \u00a0
\n\t\t\t\t\ttaxable income in the short-term will suf\ufb01ciently support the use of a deferred tax asset. \u00a0
Basis for tax calculation \u00a0
\n\t\t\t\t\tPARENT \u00a0
\n\t\t\t\t\tGROUP \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t(Amounts in NOK 1 000) \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t-433 151 \u00a0
\n\t\t\t\t\t-310 251 \u00a0
\n\t\t\t\t\tTotal comprehensive income (loss) for the period \u00a0
\n\t\t\t\t\t-307 085 \u00a0
\n\t\t\t\t\t-441 685 \u00a0
\n\t\t\t\t\t3 828 \u00a0
\n\t\t\t\t\t-187 \u00a0
\n\t\t\t\t\tNon-deductible expenses \u00a0
\n\t\t\t\t\t-187 \u00a0
\n\t\t\t\t\t3 691 \u00a0
\n\t\t\t\t\t-14 635 \u00a0
\n\t\t\t\t\t-12 981 \u00a0
\n\t\t\t\t\tNon-taxable income \u00a0
\n\t\t\t\t\t-12 981 \u00a0
\n\t\t\t\t\t-14 635 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t10 346 \u00a0
\n\t\t\t\t\tCorrection in taxable income from previous year \u00a0
\n\t\t\t\t\t10 346 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t-27 629 \u00a0
\n\t\t\t\t\t-17 094 \u00a0
\n\t\t\t\t\tShare issue costs \u00a0
\n\t\t\t\t\t-17 094 \u00a0
\n\t\t\t\t\t-27 629 \u00a0
\n\t\t\t\t\t93 \u00a0
\n\t\t\t\t\t18 001 \u00a0
\n\t\t\t\t\tChange in temporary differences \u00a0
\n\t\t\t\t\t18 001 \u00a0
\n\t\t\t\t\t93 \u00a0
\n\t\t\t\t\t-471 494 \u00a0
\n\t\t\t\t\t-312 166 \u00a0
\n\t\t\t\t\tBasis for tax calculation \u00a0
\n\t\t\t\t\t-309 000 \u00a0
\n\t\t\t\t\t-480 165 \u00a0
\n\t\t\t\t\t136 \u00a0
\n\t\t\t\t\t107 \u00a0
\n\t\t\t\t\tIncome tax expense \u00a0
\n\t\t\t\t\t869 \u00a0
\n\t\t\t\t\t1 165 \u00a0
Reconciliation of tax expense and the accounting pro\ufb01t/(loss) \u00a0
\n\t\t\t\t\tPARENT \u00a0
\n\t\t\t\t\tGROUP \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t(Amounts in NOK 1 000) \u00a0
\n\t\t\t\t\t-95 157 \u00a0
\n\t\t\t\t\t-68 255 \u00a0
\n\t\t\t\t\tExpected tax expense \u00a0
\n\t\t\t\t\t-67 493 \u00a0
\n\t\t\t\t\t-94 102 \u00a0
\n\t\t\t\t\t842 \u00a0
\n\t\t\t\t\t-41 \u00a0
\n\t\t\t\t\tNon-deductible expenses \u00a0
\n\t\t\t\t\t-41 \u00a0
\n\t\t\t\t\t816 \u00a0
\n\t\t\t\t\t-3 220 \u00a0
\n\t\t\t\t\t-580 \u00a0
\n\t\t\t\t\tNon-taxable income \u00a0
\n\t\t\t\t\t-580 \u00a0
\n\t\t\t\t\t-3 220 \u00a0
\n\t\t\t\t\t-6 078 \u00a0
\n\t\t\t\t\t-3 761 \u00a0
\n\t\t\t\t\tShare issue costs \u00a0
\n\t\t\t\t\t-3 761 \u00a0
\n\t\t\t\t\t-6 078 \u00a0
\n\t\t\t\t\t103 749 \u00a0
\n\t\t\t\t\t72 744 \u00a0
\n\t\t\t\t\tChange in deferred tax assets not recognised \u00a0
\n\t\t\t\t\t72 744 \u00a0
\n\t\t\t\t\t103 749 \u00a0
\n\t\t\t\t\t136 \u00a0
\n\t\t\t\t\t107 \u00a0
\n\t\t\t\t\tIncome tax expense \u00a0
\n\t\t\t\t\t869 \u00a0
\n\t\t\t\t\t1 165 \u00a0
The corporate tax rate in Norway was 22 per cent in 2022 and 2021. In Switzerland the tax rate in 2022 and 2021 was 11.90 per \u00a0
\n\t\t\t\t\tcent and 11.85 per cent respectively. In UK, the tax rate was 19 per cent in both periods. \u00a0
PARENT \u00a0
\n\t\t\t\t\tGROUP \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t(Amounts in NOK 1 000) \u00a0
\n\t\t\t\t\t2 600 387 \u00a0
\n\t\t\t\t\t2 913 068
Tax losses carried forward \u00a0
\n\t\t\t\t\t2 912 552
2 600 386 \u00a0
\n\t\t\t\t\t832 \u00a0
\n\t\t\t\t\t991 Property, plant
and equipment \u00a0
\n\t\t\t\t\t991 \u00a0
\n\t\t\t\t\t832 \u00a0
\n\t\t\t\t\t331 \u00a0
\n\t\t\t\t\t1
\n\t\t\t\t\tLeasing agreements \u00a0
\n\t\t\t\t\t1
\n\t\t\t\t\t331 \u00a0
\n\t\t\t\t\t878 \u00a0
\n\t\t\t\t\t19 073
Liabilities \u00a0
\n\t\t\t\t\t19 073 \u00a0
\n\t\t\t\t\t878 \u00a0
\n\t\t\t\t\t135 \u00a0
\n\t\t\t\t\t112 Tax payable \u00a0
\n\t\t\t\t\t112 \u00a0
\n\t\t\t\t\t135 \u00a0
\n\t\t\t\t\t2 602 563
2 933 245
Temporary differences and tax loss carry forward \u00a0
\n\t\t\t\t\t2 932 729 \u00a0
\n\t\t\t\t\t2 602 562 \u00a0
\n\t\t\t\t\t572 564 \u00a0
\n\t\t\t\t\t645 314
Deferred tax assets - not recognised in statement of \ufb01nancial position \u00a0
\n\t\t\t\t\t645 200 \u00a0
\n\t\t\t\t\t572 564 \u00a0
Deferred tax assets as of 31 December 2022 and 2021 have been calculated using a tax rate of 22 per cent\ufffd \u00a0
\n\t\t\t\t\tThe group is in the research phase of its product development and has incurred signi\ufb01cant tax losses related to its operations. \u00a0
\n\t\t\t\t\tThe parent company has a total tax loss carried forward of NOK 2 913.2 million at 31 December 2022. At 31 December 2021 the \u00a0
\n\t\t\t\t\ttotal tax loss carried forward was NOK 2 600.4 million. The tax losses can be carried forward inde\ufb01nitely. \u00a0
\n\t\t\t\t\tThe group nor the parent company have recognised a deferred tax asset in the statement of \ufb01nancial position, as the parent \u00a0
\n\t\t\t\t\tcompany does not consider that taxable income in the near term will suf\ufb01ciently support the utilization of a deferred tax asset. \u00a0
\n\t\t\t\t\tNo current or deferred tax charge or liability has been recognised for 2022 and 2021\ufffd \u00a0
\n\t\t\t\t\tThe income tax expense in the parent relates to pro\ufb01t before income tax in Nordic Nanovector DK, branch of Nordic Nanovector \u00a0
\n\t\t\t\t\tASA. Pro\ufb01t before tax in the subsidiaries in UK and Switzerland leads to a tax expense for the group. \u00a0
\n\t\t\t\t\tThe correction in 2021 is mainly related to tax treatment on dividend received from Nordic Nanovector GmbH\ufffd \u00a0
8\ufffd1 INFORMATION
ABOUT SUBSIDIARIES \u00a0
\n\t\t\t\t\tAccounting policy \u00a0
\n\t\t\t\t\tShares and investments intended for long-term ownership are reported in the parent company\u2019s statement of \ufb01nancial position \u00a0
\n\t\t\t\t\tas long-term investments and valued at cost. The company determines at each reporting date whether there is any objective \u00a0
\n\t\t\t\t\tindication that the investment in the subsidiary is impaired\ufffd If this is the case, the amount of impairment is calculated as the \u00a0
\n\t\t\t\t\tdifference between the recoverable amount of the subsidiary and its carrying value and recognises the amount in the income \u00a0
\n\t\t\t\t\tstatement. Any realised and unrealised losses and any write-downs relating to these investments will be included in the parent\u2019s \u00a0
\n\t\t\t\t\tstatement of comprehensive income as \ufb01nancial items. \u00a0
The consolidated \ufb01nancial statements of the group include \u00a0
\n\t\t\t\t\t(Amounts in NOK 1 000) \u00a0
\n\t\t\t\t\tEquity of interest \u00a0
\n\t\t\t\t\tName \u00a0
\n\t\t\t\t\tCountry of incorporation \u00a0
\n\t\t\t\t\tBook value \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tNordic Nanovector GmbH \u00a0
\n\t\t\t\t\tSwitzerland \u00a0
\n\t\t\t\t\t137 \u00a0
\n\t\t\t\t\t100% \u00a0
\n\t\t\t\t\t100% \u00a0
\n\t\t\t\t\tNordic Nanovector Ltd \u00a0
\n\t\t\t\t\tUnited Kingdom \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t100% \u00a0
\n\t\t\t\t\t100% \u00a0
Nordic Nanovector ASA is a public limited company incorporated and domiciled in Norway and is the parent company of the group. \u00a0
\n\t\t\t\t\tThe group\u2019s operations are carried out by the parent company and its wholly-owned subsidiaries Nordic Nanovector GmbH and \u00a0
\n\t\t\t\t\tNordic Nanovector Ltd. Nordic Nanovector GmbH is incorporated in Zug, Switzerland, with its registered address at Dammstrasse \u00a0
\n\t\t\t\t\t19, 6300 Zug, Switzerland. Nordic Nanovector Ltd is incorporated in London, England, with its registered address at 1 Brassey \u00a0
\n\t\t\t\t\tRoad, Shrewsbury SY3 7FA, United Kingdom. \u00a0
\n\t\t\t\t\tNordic Nanovector also had operations in Denmark through Nordic Nanovector DK, a branch of Nordic Nanovector ASA\ufffd The branch \u00a0
\n\t\t\t\t\twas established in October 2017 and is reported as costs incurred in the parent. The branch was closed down in December 2022. \u00a0
8.2 TRANSACTIONS
WITH RELATED PARTIES \u00a0
Accounting policy \u00a0
\n\t\t\t\t\tThe sales to and purchases from related parties are made on terms equivalent to those that prevail in arm\u2019s length transactions. \u00a0
\n\t\t\t\t\tOutstanding balances at the year-end are unsecured and interest free and settlement occurs in cash\ufffd There have been no \u00a0
\n\t\t\t\t\tguarantees provided or received for any related party receivables or payables. Transactions and balances between companies, \u00a0
\n\t\t\t\t\twhich are a member of the group, have been eliminated in the consolidated accounts for the group. Note 8.1 provides information \u00a0
\n\t\t\t\t\tabout the group\u2019s structure. \u00a0
The following table provides the total amount of transactions that have been entered into with related parties for the relevant \u00a0
\n\t\t\t\t\t\ufb01nancial year. \u00a0
\n\t\t\t\t\tPurchases \u00a0
\n\t\t\t\t\t(included in other operating expenses) \u00a0
\n\t\t\t\t\tNote \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t(Amounts in NOK 1 000) \u00a0
\n\t\t\t\t\tSubsidiary - Nordic Nanovector GmbH \u00a0
\n\t\t\t\t\t3\ufffd1 \u00a0
\n\t\t\t\t\t30 213 \u00a0
\n\t\t\t\t\t28 866 \u00a0
\n\t\t\t\t\tSubsidiary - Nordic Nanovector Ltd \u00a0
\n\t\t\t\t\t3\ufffd1 \u00a0
\n\t\t\t\t\t32 127 \u00a0
\n\t\t\t\t\t35 705 \u00a0
\n\t\t\t\t\tPurchase of professional services from Veritas Investments B\ufffdV\ufffd 1) \u00a0
\n\t\t\t\t\t6\ufffd4 \u00a0
\n\t\t\t\t\t415 \u00a0
\n\t\t\t\t\t399 \u00a0
\n\t\t\t\t\tPurchase of spesialised IT consultancy from Phi Innovate Ltd 2) \u00a0
\n\t\t\t\t\t25 \u00a0
\n\t\t\t\t\t112 \u00a0
\n\t\t\t\t\tPurchase of professional services from CETIUM AS 3) \u00a0
\n\t\t\t\t\t6\ufffd4 \u00a0
\n\t\t\t\t\t49 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\tPurchase of spesialised consultancy from ELEMENT consulting GmbH 4) \u00a0
\n\t\t\t\t\t28 \u00a0
\n\t\t\t\t\t0
The following table provides overview of amounts owed to and by related parties for the relevant \ufb01nancial year. \u00a0
\n\t\t\t\t\tAmounts owed to related parties \u00a0
\n\t\t\t\t\t(included in current liabilities to group companies) \u00a0
\n\t\t\t\t\tNote \u00a0
\n\t\t\t\t\t31\ufffd12\ufffd2022 \u00a0
\n\t\t\t\t\t31\ufffd12\ufffd2021 \u00a0
\n\t\t\t\t\t(Amounts in NOK 1 000) \u00a0
\n\t\t\t\t\tSubsidiary - Nordic Nanovector GmbH \u00a0
\n\t\t\t\t\t5\ufffd4 \u00a0
\n\t\t\t\t\t4 716 \u00a0
\n\t\t\t\t\t6 591 \u00a0
\n\t\t\t\t\tSubsidiary - Nordic Nanovector Ltd \u00a0
\n\t\t\t\t\t5\ufffd4 \u00a0
\n\t\t\t\t\t3 987 \u00a0
\n\t\t\t\t\t7 823 \u00a0
\n\t\t\t\t\t1) In 2022 and 2021 the group has used the professional services of its chariman in relation to consulting services. The consulting services are related to \u00a0
\n\t\t\t\t\twork beyond regular board duties. The contract for these services is based on market rates and conditions for such services. These services has been \u00a0
\n\t\t\t\t\tinvoiced by Veritas Investments B.V., a company controlled by the chairman of the board. \u00a0
\n\t\t\t\t\t2) Phi-Innovate Limited is managed by close member of the familiy of a related party of the previous CMO, Christine Wilkinson Blanc. Services is based \u00a0
\n\t\t\t\t\ton market rates and conditions for such services. \u00a0
\n\t\t\t\t\t3) In 2022 the group has used the professional services from Thomas Ramdahl related to the proposed merger with APIM. The contract for these services \u00a0
\n\t\t\t\t\tis based on market rates and conditions for such services. These services have been invoiced by Cetium AS, a company controlled by previous member \u00a0
\n\t\t\t\t\tof the board Thomas Ramdahl. \u00a0
\n\t\t\t\t\t4) In 2022 the group has used the professional services from Element Consulting GmbH a company co-founded by previous CEO Erik Skullerud. The \u00a0
\n\t\t\t\t\tcontract for these services is based on market rates and conditions for such services. \u00a0
\n\t\t\t\t\tFor information on remuneration and shareholding to the board of directors and management see note 6\ufffd4 and note 6\ufffd1 repectively\ufffd \u00a0
9.1 EVENTS
AFTER REPORTING DATE \u00a0
Accounting policy \u00a0
\n\t\t\t\t\tNew information on the company\u2019s \ufb01nancial position at the end of the reporting period which becomes known after the reporting \u00a0
\n\t\t\t\t\tperiod is recorded in the annual accounts.
Events after the reporting period that do not affect the company\u2019s \ufb01nancial position \u00a0
\n\t\t\t\t\tat the end of the reporting period, but which will affect the company\u2019s \ufb01nancial position in the future, are disclosed if signi\ufb01cant. \u00a0
Extraordinary general meeting \u00a0
\n\t\t\t\t\tOn 3 January 2023, an extraordinary general meeting (\u201cEGM\u201d) was held. A new board of directors consisting of Jon Magne Asmyr \u00a0
\n\t\t\t\t\t(chairperson), Eddie Berglund and Tina Bj\u00f8rnlund B\u00f8nsdorff was elected by the EGM, as well as a new Nomination Committee \u00a0
\n\t\t\t\t\tconsisting of Hans Peter B\u00f8hn (chairperson), Jan-Tore Pedersen and Vegard Aavik\ufffd \u00a0
Change in the board of directors \u00a0
\n\t\t\t\t\tEddie Berglund informed the board that he will resign from the board with immediate effect on 19 January 2023. \u00a0
New interim CEO and CFO \u00a0
\n\t\t\t\t\tOn 31 January 2023 the company announced that Ludvik Sandnes, former chairperson of Nordic Nanovector, has been appointed \u00a0
\n\t\t\t\t\tinterim Chief Executive Of\ufb01cer (CEO) and Chief Financial Of\ufb01cer (CFO) of the company as from 1 February 2023. At the same time \u00a0
\n\t\t\t\t\tMalene Brondberg, former interim CEO and CFO, transitioned out of the company, as previously announced on 9 December 2022\ufffd \u00a0
\n\t\t\t\t\tIt was further annonced that the board, together with management and the company\u2019s \ufb01nancial advisors, Carnegie, will assess the \u00a0
\n\t\t\t\t\tstrategic options that may be open to the company and put forward any recommended proposals for resolution by the company\u2019s \u00a0
\n\t\t\t\t\tshareholders in the coming months\ufffd \u00a0
9.2 STANDARDS
ISSUED BUT NOT YET ADOPTED \u00a0
\n\t\t\t\t\tIASB has published certain new standards and interpretations and amendments to existing standards and interpretations that are \u00a0
\n\t\t\t\t\tnot effective for the annual period ending 31 December 2022, and that are not applied when preparing these \ufb01nancial statements. \u00a0
\n\t\t\t\t\tNew and amended standards and interpretations expected to be relevant the group\u2019s \ufb01nancial position, performance or disclosures \u00a0
\n\t\t\t\t\tare disclosed below. \u00a0
\n\t\t\t\t\tChanges / improvements \u00a0
\n\t\t\t\t\tStandard \u00a0
\n\t\t\t\t\tNew standards \u00a0
\n\t\t\t\t\tNo new standards in issue but not yet adopted that is expected to have material impact on the \u00a0
\n\t\t\t\t\t\ufb01nancial statements. \u00a0
\n\t\t\t\t\tAmendments \u00a0
\n\t\t\t\t\t\u2022 Amendments to IAS 1 - Classi\ufb01cation of liabilities as current or non-current \u00a0
\n\t\t\t\t\tThe amendments updated the reference to the Conceptual Framework. \u00a0
\n\t\t\t\t\tThe amendments will have accounting effect from 1 January 2023. The implementation is not \u00a0
\n\t\t\t\t\texpected to have material impact on the \ufb01nancial statements. \u00a0
\n\t\t\t\t\t\u2022 Amendments to IAS 1 - Classi\ufb01cation of liabilities as current or non-current \u00a0
\n\t\t\t\t\tA narrow-scope amendments to IAS 1 Presentation of Financial Statements to clarify how to \u00a0
\n\t\t\t\t\tclassify debt and other liabilities as current or non-current\ufffd The amendments aim to promote \u00a0
\n\t\t\t\t\tconsistency in applying the requirements by
helping companies determine whether, in the \u00a0
\n\t\t\t\t\tstatement of \ufb01nancial position, debt and other liabilities with an uncertain settlement date should \u00a0
\n\t\t\t\t\tbe classi\ufb01ed as current (due or potentially due to be settled within one year) or non-current. The \u00a0
\n\t\t\t\t\tamendments include clarifying the classi\ufb01cation requirements for debt a company might settle \u00a0
\n\t\t\t\t\tby converting it into equity\ufffd The amendments clarify, not change, existing requirements, and so \u00a0
\n\t\t\t\t\tare not expected to affect companies\u2019 \ufb01nancial statements signi\ufb01cantly. \u00a0
\n\t\t\t\t\tThe amendments will have accounting effect from 1 January 2023. The implementation is not \u00a0
\n\t\t\t\t\texpected to have material impact on the \ufb01nancial statements. \u00a0
\n\t\t\t\t\t\u2022
\n\t\t\t\t\tAmendments to IAS 1 and IFRS Practice Statement 2 - Disclosure of Accounting policies \u00a0
\n\t\t\t\t\tFollowing feedback that more guidance was needed to help companies decide what accounting \u00a0
\n\t\t\t\t\tpolicy information should be disclosed, IASB has issued amendments to IAS 1 Presentation \u00a0
\n\t\t\t\t\tof Financial Statements and IFRS Practice Statement 2 Making Materiality Judgements\ufffd The \u00a0
\n\t\t\t\t\tamendments to IAS 1 require companies to disclose their material accounting policy information \u00a0
\n\t\t\t\t\trather than their signi\ufb01cant accounting policies. The amendments to IFRS Practice Statement \u00a0
\n\t\t\t\t\t2 provide guidance on how to apply the concept of materiality to accounting policy disclosures. \u00a0
\n\t\t\t\t\tThe amendments will have accounting effect from 1 January 2023. The implementation is not \u00a0
\n\t\t\t\t\texpected to have material impact on the \ufb01nancial statements. \u00a0
\n\t\t\t\t\t\u2022 Amendments to IAS 8 - De\ufb01nition of Accounting Estimates \u00a0
\n\t\t\t\t\tIASB has issued amendments to IAS 8 Accounting Policies, Changes in Accounting Estimates \u00a0
\n\t\t\t\t\tand Errors. The amendments clarify how companies should distinguish changes in accounting \u00a0
\n\t\t\t\t\tpolicies from changes in accounting estimates\ufffd That distinction is important because changes \u00a0
\n\t\t\t\t\tin accounting estimates are applied prospectively only to future transactions and other future \u00a0
\n\t\t\t\t\tevents, but changes in accounting policies are generally also applied retrospectively to past \u00a0
\n\t\t\t\t\ttransactions and other past events\ufffd \u00a0
\n\t\t\t\t\tThe amendments will have accounting effect from 1 January 2023. The implementation is not \u00a0
\n\t\t\t\t\texpected to have material impact on the \ufb01nancial statements. \u00a0
9.3 CHANGE
IN ACCOUNTING POLICIES AND DISCLOSURES \u00a0
\n\t\t\t\t\tChanges / improvements \u00a0
\n\t\t\t\t\tStandard \u00a0
\n\t\t\t\t\tNew standards \u00a0
\n\t\t\t\t\tNo new standards have been implemented in 2022. \u00a0
\n\t\t\t\t\tAmendments \u00a0
\n\t\t\t\t\t\u2022 Amendments to IFRS 3 - Updating a reference to the conceptual Framework \u00a0
\n\t\t\t\t\tThe amendments updated the reference to the Conceptual Framework. \u00a0
\n\t\t\t\t\tThe implementation did not have any material impact on the \ufb01nancial statements. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfNotesAndOtherExplanatoryInformationExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXG6DK30",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact1055": {
"value": "ASA",
"dimensions": {
"concept": "ifrs-full:LegalFormOfEntity",
"language": "en",
"entity": "scheme:5967007LIEEXZXG6DK30",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact1054": {
"value": "Norway",
"dimensions": {
"concept": "ifrs-full:CountryOfIncorporation",
"language": "en",
"entity": "scheme:5967007LIEEXZXG6DK30",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact1056": {
"value": "Norway",
"dimensions": {
"concept": "ifrs-full:DomicileOfEntity",
"language": "en",
"entity": "scheme:5967007LIEEXZXG6DK30",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact1057": {
"value": "Kjels\u00e5sveien 168 B, 0884 Oslo",
"dimensions": {
"concept": "ifrs-full:PrincipalPlaceOfBusiness",
"language": "en",
"entity": "scheme:5967007LIEEXZXG6DK30",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact1058": {
"value": "Kjels\u00e5sveien 168 B, 0884 Oslo",
"dimensions": {
"concept": "ifrs-full:AddressOfRegisteredOfficeOfEntity",
"language": "en",
"entity": "scheme:5967007LIEEXZXG6DK30",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact1365": {
"value": "Section 2 - General accounting policies \u00a0
\n\t\t\t\t\tThe principal accounting policies applied in the preparation of these \ufb01nancial statements are set out below. These policies have \u00a0
\n\t\t\t\t\tbeen consistently applied in all periods presented. Amounts are in Norwegian kroner (NOK) unless stated otherwise. The functional \u00a0
\n\t\t\t\t\tcurrency of Nordic Nanovector ASA is NOK\ufffd
2.1 BASIS
FOR PREPARATION OF THE ANNUAL ACCOUNTS \u00a0
\n\t\t\t\t\tThe consolidated \ufb01nancial statements for the group and the parent have been prepared in accordance with EU-approved \u00a0
\n\t\t\t\t\tInternational Financial Reporting Standards (IFRS) and Interpretations issued by the International Accounting Standards Board \u00a0
\n\t\t\t\t\t(IASB) and disclosure requirements in accordance with the Norwegian Accounting Act. Only standards that are effective for the \u00a0
\n\t\t\t\t\t\ufb01scal year ended 31 December 2022 have been applied. \u00a0
\n\t\t\t\t\tThe \ufb01nancial statements have been prepared on the historical cost basis. The preparation of \ufb01nancial statements in conformity \u00a0
\n\t\t\t\t\twith IFRS requires the use of certain critical accounting estimates. It also requires management to exercise its judgments in \u00a0
\n\t\t\t\t\tapplying the group\u2019s accounting policies. \u00a0
\n\t\t\t\t\tAreas involving a high degree of judgment or complexity, and areas in which assumptions and estimates are signi\ufb01cant to the \u00a0
\n\t\t\t\t\t\ufb01nancial statements are disclosed in note 2.4. The consolidated \ufb01nancial statements have been prepared on the basis of uniform \u00a0
\n\t\t\t\t\taccounting principles for similar transactions and events under otherwise similar circumstances. \u00a0
Going concern \u00a0
\n\t\t\t\t\tThe company works continuously to ensure \ufb01nancial \ufb02exibility in the short and long-term to achieve its strategic and operational \u00a0
\n\t\t\t\t\tobjectives. To date, the company has \ufb01nanced its operations through private placements, grants, repair offerings and the initial \u00a0
\n\t\t\t\t\tpublic offering in connection with the listing of the company\u2019s shares on Oslo B\u00f8rs in 2015. In January 2022 the company raised \u00a0
\n\t\t\t\t\tapproximately NOK 250 million in gross proceeds in a private placement\ufffd \u00a0
\n\t\t\t\t\tFollowing the decisions in 2022 to discontinue the PARADIGME study and implement a restructuring of the company, Nordic \u00a0
\n\t\t\t\t\tNanovector believes that the best interests of shareholders will be served by thoroughly exploring all strategic options that may be \u00a0
\n\t\t\t\t\tavailable. As a publicly quoted company with a listing in Norway, remaining cash resources and a pipeline of CD37-targeted assets, \u00a0
\n\t\t\t\t\tthe company believes that there is an opportunity to crystalise value for shareholders through a potential strategic transaction\ufffd \u00a0
\n\t\t\t\t\tThe company will continue as an R&D company until it \ufb01nds a new owner or partner that can secure new funding and support the \u00a0
\n\t\t\t\t\tongoing programmes. The board and management continue to explore all strategic options and are in close contact with potential \u00a0
\n\t\t\t\t\tpartners. However, if the company is not successful in \ufb01nding a new partner or funding, the board will have no option other than to \u00a0
\n\t\t\t\t\twind up the business. No assurances can be given as to the outcome or timing of the ongoing review process. \u00a0
\n\t\t\t\t\tSeveral measures have been implemented to reduce the burn rate and the company\u2019s current net cash is, under the current \u00a0
\n\t\t\t\t\toperating model, expected to \ufb01nance its ongoing operations into the second quarter of 2024. The company has also identi\ufb01ed \u00a0
\n\t\t\t\t\tadditional cost reductions by scaling down R&D project costs and staff, admin staff and other advisory costs that can be \u00a0
\n\t\t\t\t\timplemented if needed, to extend the cash runway or reallocate existing cash resources. \u00a0
\n\t\t\t\t\tThe board of directors has con\ufb01rmed that the conditions for assuming that the group is a going concern are present, and that the \u00a0
\n\t\t\t\t\t\ufb01nancial statements have been prepared based on this assumption. \u00a0
2.2 CONSOLIDATION
PRINCIPLES \u00a0
\n\t\t\t\t\tThe group\u2019s consolidated \ufb01nancial statements comprise the parent company and its subsidiaries as of 31 December 2022. An \u00a0
\n\t\t\t\t\tentity has been assessed as being controlled by the group when the group is exposed for or has the rights to variable returns from \u00a0
\n\t\t\t\t\tits involvement with the entity, and has the ability to use its decision over the entity to affect the amount of the group\u2019s returns. \u00a0
\n\t\t\t\t\tThus, the group controls an entity if, and only if, the group has all the following: \u00a0
\n\t\t\t\t\t\u2022 Power over the entity. \u00a0
\n\t\t\t\t\t\u2022 The exposure, or rights, to variable returns from its involvement with the entity. \u00a0
\n\t\t\t\t\t\u2022 The ability to use its power over the entity to affect the amount of the group\u2019s returns. \u00a0
\n\t\t\t\t\tThere is a presumption that if the group has the majority of the voting rights in an entity, the entity is considered as a subsidiary\ufffd \u00a0
\n\t\t\t\t\tTo support this presumption and when the group has less than a majority of the voting or similar rights of an investee, the group \u00a0
\n\t\t\t\t\tconsiders all relevant facts and circumstances in assessing whether it has power over the entity, including ownership interests, \u00a0
voting rights, ownership structure and relative power, as well as options controlled by the group and shareholder\u2019s agreement or \u00a0
\n\t\t\t\t\tother contractual agreements. The assessments are done for each individual investment. The group reassesses whether or not \u00a0
\n\t\t\t\t\tit controls an entity if facts and circumstances indicate that there are changes to one or more of the three elements of control\ufffd \u00a0
\n\t\t\t\t\tConsolidation of a subsidiary begins when the group obtains control over the subsidiary and ceases when the group loses control \u00a0
\n\t\t\t\t\tof the subsidiary. Pro\ufb01t or loss and each component of other comprehensive income (OCI) are attributed to the equity holders \u00a0
\n\t\t\t\t\tof the parent of the group and to the non-controlling interests, even if this results in the non-controlling interests having a de\ufb01cit \u00a0
\n\t\t\t\t\tbalance. When necessary, adjustments are made to the \ufb01nancial statements of subsidiaries to bring their accounting policies into \u00a0
\n\t\t\t\t\tline with the group\u2019s accounting policies. All intra-group assets and liabilities, equity, income, expenses and cash \ufb02ows relating to \u00a0
\n\t\t\t\t\ttransactions between members of the group are eliminated in full on consolidation. \u00a0
2.3 FUNCTIONAL
CURRENCY AND PRESENTATION CURRENCY \u00a0
\n\t\t\t\t\tThe functional currency is determined in each entity in the group based on the currency within the entity\u2019s primary economic \u00a0
\n\t\t\t\t\tenvironment\ufffd Transactions in foreign currency are translated to functional currency using the exchange rate at the date of the \u00a0
\n\t\t\t\t\ttransaction\ufffd At the end of each reporting period foreign currency monetary items are translated using the closing rate\ufffd Currency \u00a0
\n\t\t\t\t\tgains or losses are classi\ufb01ed as \ufb01nancial items. Non-monetary items that are measured in terms of historical cost are translated \u00a0
\n\t\t\t\t\tusing the exchange rate at the date of the transaction, and non-monetary items that are measured at fair value in a foreign \u00a0
\n\t\t\t\t\tcurrency are translated using the exchange rates at the date when the fair value was measured. Changes in the exchange rate are \u00a0
\n\t\t\t\t\trecognised continuously in the accounting period\ufffd \u00a0
\n\t\t\t\t\tThe group\u2019s presentation currency is NOK. This is also the parent company\u2019s functional currency. The statement of \ufb01nancial \u00a0
\n\t\t\t\t\tposition \ufb01gures of entities with a different functional currency are translated at the exchange rate prevailing at the end of the \u00a0
\n\t\t\t\t\treporting period for balance sheet items, and the exchange rate at the date of the transaction for pro\ufb01t and loss items. The monthly \u00a0
\n\t\t\t\t\taverage exchange rates are used as an approximation of the transaction exchange rate\ufffd Exchange differences are recognised in \u00a0
\n\t\t\t\t\tother comprehensive income (OCI)\ufffd \u00a0
Accounting policy \u00a0
\n\t\t\t\t\tOther operating expenses are recognised in the statement of pro\ufb01t and loss in the period which the related costs are incurred or \u00a0
\n\t\t\t\t\tservices are provided\ufffd For additional information on calculation of costs related to share based payments as RSUs see note 6\ufffd3 \u00a0
\n\t\t\t\t\tand 6\ufffd3\ufffd2\ufffd \u00a0
Accounting policy \u00a0
\n\t\t\t\t\tPayroll and related expenses are recognised in the statement of pro\ufb01t and loss in the period which the related costs are incurred \u00a0
\n\t\t\t\t\tor services are provided\ufffd For additional information on calculation of costs related to share based payments as options and PSUs \u00a0
\n\t\t\t\t\tsee note 6\ufffd3, 6\ufffd3\ufffd1 and 6\ufffd3\ufffd3\ufffd \u00a0
Accounting policy \u00a0
\n\t\t\t\t\tGovernment grants are recognised where there is reasonable assurance that the grant will be received and all attached conditions \u00a0
\n\t\t\t\t\twill be complied with. The grant is recognised in the income statement in the same period as the related costs, which are presented \u00a0
\n\t\t\t\t\tnet\ufffd \u00a0
\n\t\t\t\t\tGovernment grants are normally related to either reimbursements of employee costs and classi\ufb01ed as a reduction of payroll and \u00a0
\n\t\t\t\t\trelated expenses or related to other operating activities and thus classi\ufb01ed as a reduction of other operating expenses. \u00a0
Accounting policy \u00a0
\n\t\t\t\t\tIn determining the recoverability of other receivable, the company performs a risk analysis considering the type and the age of the \u00a0
\n\t\t\t\t\toutstanding receivable and the creditworthiness of the counterparties. \u00a0
Accounting policy \u00a0
\n\t\t\t\t\tOther liabilities are classi\ufb01ed as current liabilities if payment is due within one year or less (or in the normal operating cycle of \u00a0
\n\t\t\t\t\tthe business if longer). If not, they are presented as non-current liabilities. Accounts payable and other \ufb01nancial liabilities are \u00a0
\n\t\t\t\t\trecognised initially at fair value and subsequently measured at amortised cost using the effective interest method\ufffd \u00a0
\n\t\t\t\t\tRestructuring provisions are recognised only when the group has a constructive obligation, which is when there is a detailed formal \u00a0
\n\t\t\t\t\tplan that identi\ufb01es the business or part of the business concerned, the location and number of employees affected, the detailed \u00a0
\n\t\t\t\t\testimate of the associated costs, and the timeline; and the employees affected have been noti\ufb01ed of the plan\u2019s main features. \u00a0
Accounting policy \u00a0
\n\t\t\t\t\tAuditors fee is expensed and recognised in the statement of pro\ufb01t and loss in the period which the related costs are incurred or \u00a0
\n\t\t\t\t\tservices are provided\ufffd Amounts are presented exclusive of VAT\ufffd \u00a0
Accounting policy \u00a0
\n\t\t\t\t\tFor management purposes, the group is organised as one business unit and the internal reporting is structured in accordance \u00a0
\n\t\t\t\t\twith this. The group has thus only one operating segment. The Executive Leadership Team is the Chief Operating Decision Maker \u00a0
\n\t\t\t\t\t(CODM) and monitors the operating results for the purpose of making decisions about resource allocation and performance \u00a0
\n\t\t\t\t\tassessment\ufffd \u00a0
Accounting policy \u00a0
\n\t\t\t\t\tProperty, plant and equipment are carried at cost less accumulated depreciation and accumulated impairment losses\ufffd Acquisition \u00a0
\n\t\t\t\t\tcost includes expenditures that are directly attributable to the acquisition of the individual item\ufffd Property, plant and equipment \u00a0
\n\t\t\t\t\tare depreciated on a straight-line basis over the expected useful life of the asset. If signi\ufb01cant individual parts of the assets have \u00a0
\n\t\t\t\t\tdifferent useful lives, they are recognised and depreciated separately. Depreciation commences when the assets are ready for \u00a0
\n\t\t\t\t\ttheir intended use. The estimated useful lives of the assets are as follows: \u00a0
\n\t\t\t\t\t\u25cf Of\ufb01ce equipment: Two to three years \u00a0
\n\t\t\t\t\t\u25cf Laboratory equipment: Three to \ufb01ve years \u00a0
\n\t\t\t\t\t\u25cf Permanent building \ufb01xtures: Two to \ufb01ve years \u00a0
\n\t\t\t\t\t\u25cf Furniture and \ufb01ttings: Three to \ufb01ve years \u00a0
\n\t\t\t\t\t\u25cf Software: Three years \u00a0
\n\t\t\t\t\tThe estimated useful life of \ufb01xed assets related to the laboratory equipment, is based on the company\u2019s assessment of operational \u00a0
\n\t\t\t\t\trisk. Due to scienti\ufb01c and regulatory reasons there is a risk of termination of the projects. This has been taken into account when \u00a0
\n\t\t\t\t\tdetermining the estimated useful life of the individual assets\ufffd \u00a0
\n\t\t\t\t\tAn item of property, plant and equipment and any signi\ufb01cant part initially recognised is derecognised upon disposal or when no \u00a0
\n\t\t\t\t\tfuture economic bene\ufb01ts are expected from its use or disposal. Any gain or loss arising on derecognition of the asset (calculated as \u00a0
\n\t\t\t\t\tthe difference between the net disposal proceeds and the carrying amount of the asset) is included in the income statement when \u00a0
\n\t\t\t\t\tthe asset is derecognised\ufffd The residual values, useful lives and methods of depreciation of the property, plant and equipment are \u00a0
\n\t\t\t\t\treviewed at each \ufb01nancial year and adjusted prospectively, if appropriate. \u00a0
\n\t\t\t\t\tAll the \ufb01xed assets in the group are owned by Nordic Nanovector ASA, thus the disclosure for Nordic Nanovector ASA is identical \u00a0
\n\t\t\t\t\tto the disclosure for the group\ufffd \u00a0
Accounting policy \u00a0
Right-of-use assets \u00a0
\n\t\t\t\t\tThe group recognises right-of-use assets at the commencement date of the lease (i\ufffde\ufffd, the date the underlying asset is available \u00a0
\n\t\t\t\t\tfor use)\ufffd Right-of-use assets are measured at cost, less any accumulated depreciation and impairment losses, and adjusted for \u00a0
\n\t\t\t\t\tany remeasurement of lease liabilities\ufffd The cost of right-of-use assets includes the amount of lease liabilities recognised, initial \u00a0
\n\t\t\t\t\tdirect costs incurred, and lease payments made at or before the commencement date less any lease incentives received\ufffd \u00a0
\n\t\t\t\t\tThe company applies the depreciation requirements in IAS 16 Property, Plant and Equipment in depreciating the right-of-use \u00a0
\n\t\t\t\t\tasset, except that the right-of-use asset is depreciated from the commencement date to the earlier of the lease term and the \u00a0
\n\t\t\t\t\tremaining useful life of the right-of-use asset. The company applies IAS 36 Impairment of Assets to determine whether the right- \u00a0
\n\t\t\t\t\tof-use asset is impaired and to account for any impairment loss identi\ufb01ed. \u00a0
\n\t\t\t\t\tLease liabilities \u00a0
\n\t\t\t\t\tAt the commencement date of the lease, the group recognises lease liabilities measured at the present value of lease payments \u00a0
\n\t\t\t\t\tto be made over the lease term\ufffd \u00a0
\n\t\t\t\t\tIn calculating the present value of lease payments, the group uses the incremental borrowing rate at the lease commencement \u00a0
\n\t\t\t\t\tdate if the interest rate implicit in the lease is not readily determinable\ufffd After the commencement date, the amount of lease liabilities \u00a0
\n\t\t\t\t\tis increased to re\ufb02ect the accretion of interest and reduced for the lease payments made. In addition, the carrying amount of lease \u00a0
\n\t\t\t\t\tliabilities is remeasured if there is a modi\ufb01cation, a change in the lease term, a change in the in-substance \ufb01xed lease payments \u00a0
\n\t\t\t\t\tor a change in the assessment to purchase the underlying asset\ufffd The group remeasures the lease liability upon the occurrence \u00a0
\n\t\t\t\t\tof certain events (e\ufffdg\ufffda change in the lease term, or a change in future lease payments resulting from a change in an index or rate \u00a0
\n\t\t\t\t\tused to determine those payments)\ufffd Generally, the amount of remeasurement of the lease liability is recognised as an adjustment \u00a0
\n\t\t\t\t\tto the right-of-use asset\ufffd \u00a0
\n\t\t\t\t\tShort-term leases and leases of low-value assets \u00a0
\n\t\t\t\t\tThe group applies the short-term lease recognition exemption to its short-term leases (i\ufffde\ufffd, those leases that have a lease term of \u00a0
\n\t\t\t\t\t12 months or less from the commencement date and do not contain a purchase option). The group also applies the lease of low- \u00a0
\n\t\t\t\t\tvalue assets recognition exemption to leases that are considered of low value. Lease payments on short-term leases and leases \u00a0
\n\t\t\t\t\tof low-value assets are recognised as expense on a straight-line basis over the lease term. \u00a0
\n\t\t\t\t\tIncremental borrowing rate \u00a0
\n\t\t\t\t\tIn calculating the present value of lease payments, the group uses the incremental borrowing rate at the lease commencement \u00a0
\n\t\t\t\t\tdate if the interest rate implicit in the lease is not readily determinable\ufffd \u00a0
\n\t\t\t\t\tDetermining the lease term of contracts with renewal options \u00a0
\n\t\t\t\t\tThe group determines the lease term as the non-cancellable term of the lease, together with any periods covered by an option \u00a0
\n\t\t\t\t\tto extend the lease if it is reasonably certain to be exercised, or any periods covered by an option to terminate the lease, if it is \u00a0
\n\t\t\t\t\treasonably certain not to be exercised. The group applies judgement in evaluating whether it is reasonably certain to exercise an \u00a0
\n\t\t\t\t\toption to renew a lease contract, considering all relevant factors that create an economic incentive for the group to exercise the \u00a0
\n\t\t\t\t\trenewal or not exercise an option to terminate. \u00a0
\n\t\t\t\t\tThe main part of the group\u2019s lease contracts relates to production and of\ufb01ce facilities. \u00a0
\n\t\t\t\t\tAccounting policy \u00a0
\n\t\t\t\t\tFinancial assets \u00a0
\n\t\t\t\t\tInitial recognition and measurement \u00a0
\n\t\t\t\t\tFinancial assets are classi\ufb01ed, at initial recognition, as subsequently measured at amortised cost, fair value through other \u00a0
\n\t\t\t\t\tcomprehensive income (OCI), and fair value through pro\ufb01t or loss. Financial assets are recognised initially at fair value plus, in the \u00a0
\n\t\t\t\t\tcase of \ufb01nancial assets not recorded at fair value through pro\ufb01t or loss, transaction costs that are attributable to the acquisition of \u00a0
\n\t\t\t\t\tthe \ufb01nancial asset. \u00a0
\n\t\t\t\t\tFinancial assets at amortised cost \u00a0
\n\t\t\t\t\tThis category is the most relevant to the group. The group measures \ufb01nancial assets at amortised cost if both of the following \u00a0
\n\t\t\t\t\tconditions are met: The \ufb01nancial asset is held within a business model with the objective to hold \ufb01nancial assets in order to collect \u00a0
\n\t\t\t\t\tcontractual cash \ufb02ows and The contractual terms of the \ufb01nancial asset give rise on speci\ufb01ed dates to cash \ufb02ows that are solely \u00a0
\n\t\t\t\t\tpayments of principal and interest on the principal amount outstanding\ufffd \u00a0
\n\t\t\t\t\tFinancial assets at amortised cost are subsequently measured using the effective interest (EIR) method and are subject to \u00a0
\n\t\t\t\t\timpairment. Gains and losses are recognised in pro\ufb01t or loss when the asset is derecognised, modi\ufb01ed or impaired. \u00a0
Financial assets at fair value through pro\ufb01t or loss \u00a0
\n\t\t\t\t\tFinancial assets at fair value through pro\ufb01t or loss are carried in the statement of \ufb01nancial position at fair value with net changes \u00a0
\n\t\t\t\t\tin fair value recognised in the statement of pro\ufb01t or loss. The group does not have any \ufb01nancial assets at fair value through pro\ufb01t \u00a0
\n\t\t\t\t\tor loss\ufffd \u00a0
Impairment of \ufb01nancial assets \u00a0
\n\t\t\t\t\tThe group assesses, at each reporting date, whether there is objective evidence that a \ufb01nancial asset or a group of \ufb01nancial assets \u00a0
\n\t\t\t\t\tis impaired\ufffd An impairment exists if one or more events that has occurred since the initial recognition of the asset (an incurred \u00a0
\n\t\t\t\t\t\u2018loss event\u2019), has an impact on the estimated future cash \ufb02ows of the \ufb01nancial asset or the group of \ufb01nancial assets that can be \u00a0
\n\t\t\t\t\treliably estimated\ufffd \u00a0
\n\t\t\t\t\tThe amount of any impairment loss identi\ufb01ed is measured as the difference between the asset\u2019s carrying amount and the present \u00a0
\n\t\t\t\t\tvalue of estimated future cash \ufb02ows (excluding future expected credit losses that have not yet been incurred). \u00a0
Financial liabilities \u00a0
\n\t\t\t\t\tInitial recognition and measurement \u00a0
\n\t\t\t\t\tFinancial liabilities are classi\ufb01ed, at initial recognition, as \ufb01nancial liabilities at fair value through pro\ufb01t or loss, loans and borrowings, \u00a0
\n\t\t\t\t\tpayables, or as derivatives designated as hedging instruments in an effective hedge, as appropriate. All \ufb01nancial liabilities are \u00a0
\n\t\t\t\t\trecognised initially at fair value and, in the case of loans and borrowings and payables, net of directly attributable transaction costs. \u00a0
\n\t\t\t\t\tThe group\u2019s \ufb01nancial liabilities include accounts and other payables \u00a0
\n\t\t\t\t\tSubsequent measurement \u00a0
\n\t\t\t\t\tFor purposes of subsequent measurement, \ufb01nancial liabilities are classi\ufb01ed in two categories: \u00a0
\n\t\t\t\t\t\u2022 Financial liabilities at fair value through pro\ufb01t or loss \u00a0
\n\t\t\t\t\t\u2022 Financial liabilities at amortised cost (loans and borrowings) \u00a0
\n\t\t\t\t\tThe group only has \ufb01nancial liabilities measured at amortised cost \u00a0
Accounting policy \u00a0
\n\t\t\t\t\tCash equivalents are held for the purpose of meeting short-term cash commitments rather than for investment or other purposes\ufffd \u00a0
\n\t\t\t\t\tFor an investment to qualify as a cash equivalent it must be readily convertible to a known amount of cash and be subject to an \u00a0
\n\t\t\t\t\tinsigni\ufb01cant risk of changes in value. Therefore, an investment normally quali\ufb01es as a cash equivalent only when it has a short \u00a0
\n\t\t\t\t\tmaturity of, say, three months or less from the date of acquisition\ufffd \u00a0
Accounting policy \u00a0
\n\t\t\t\t\tThe group\u2019s \ufb01nancial liabilities consist of accounts payable and other current liabilities and are classi\ufb01ed as \u201ccurrent liabilities\u201d. \u00a0
\n\t\t\t\t\tAccounts payable are obligations to pay for goods or services that have been acquired in the ordinary course of business from \u00a0
\n\t\t\t\t\tsuppliers . Accounts payable are classi\ufb01ed as current liabilities if payment is due within one year or less (or in the normal operating \u00a0
\n\t\t\t\t\tcycle of the business if longer). If not, they are presented as non-current liabilities. Accounts payable and other \ufb01nancial liabilities \u00a0
\n\t\t\t\t\tare recognised initially at fair value and subsequently measured at amortised cost using the effective interest method\ufffd \u00a0
5.6 FINANCE
INCOME AND FINANCE EXPENSES \u00a0
Accounting policy \u00a0
\n\t\t\t\t\tThe group and parent company\u2019s \ufb01nance income largely relates to interest received on bank deposits. Net currency gain or loss \u00a0
\n\t\t\t\t\trelated to operating items includes gain or losses on accounts payable and accounts receivable\ufffd \u00a0
Accounting policy \u00a0
\n\t\t\t\t\tEarnings per share are calculated by dividing the pro\ufb01t or loss attributable to ordinary shareholders of the company by the \u00a0
\n\t\t\t\t\tweighted average number of ordinary shares outstanding during the period. Diluted earnings per share are calculated as pro\ufb01t \u00a0
\n\t\t\t\t\tor loss attributable to ordinary shareholders of the company, adjusted for the effects of all dilutive potential options\ufffd Issued share \u00a0
\n\t\t\t\t\toptions, performance share units and restricted stock units have a potential dilutive effect on earnings per share (see note 6\ufffd3 \u00a0
\n\t\t\t\t\tfor details on share based payments)\ufffd No dilutive effect has been recognised as potential ordinary shares only shall be treated \u00a0
\n\t\t\t\t\tas dilutive if their conversion to ordinary shares would decrease earnings per share, or increase loss per share from continuing \u00a0
\n\t\t\t\t\toperations. As the company is currently loss-making an increase in the average number of shares would have anti-dilutive effect. \u00a0
Accounting policy - Share-based payments \u00a0
\n\t\t\t\t\tThe company operates equity-settled, share based compensation plans, under which the entity receives services from employees \u00a0
\n\t\t\t\t\tand board directors, and as consideration the employees or board members receive an equity instrument (options, performance \u00a0
\n\t\t\t\t\tstock units (PSUs) or restricted stock units (RSUs)) in the company\ufffd Equity-settled share based payments are measured at the fair \u00a0
\n\t\t\t\t\tvalue of the equity instruments at the grant date\ufffd \u00a0
\n\t\t\t\t\tThe fair value of the employee services received in exchange for the grant of the equity instrument are recognised as an expense, \u00a0
\n\t\t\t\t\tbased on the company\u2019s estimate of equity instruments that will eventually vest. The total amount to be expensed is determined \u00a0
\n\t\t\t\t\tby the fair value of the instrument granted, excluding the impact of any non-market service and performance vesting conditions\ufffd \u00a0
\n\t\t\t\t\tThe grant date fair value of the instrument granted is recognised as an expense with a corresponding increase in equity, over \u00a0
\n\t\t\t\t\tthe period that the employees become unconditionally entitled to the equity instrument (vesting period)\ufffd Service and non-market \u00a0
\n\t\t\t\t\tperformance conditions attached to the transactions are not taken into account in determining fair value\ufffd \u00a0
\n\t\t\t\t\tAt the end of each reporting period, the group revises its estimates of the number of equity instruments that are expected to vest \u00a0
\n\t\t\t\t\tbased on the non-market vesting conditions. It recognises the impact of the revision to original estimates, if any, in pro\ufb01t or loss, \u00a0
\n\t\t\t\t\twith a corresponding adjustment to equity. \u00a0
\n\t\t\t\t\tWhen the equity instrument is exercised, the company issues new shares. The proceeds received net of any directly attributable \u00a0
\n\t\t\t\t\ttransaction costs are recognised as share capital (nominal value) and share premium. The company will be liable for social \u00a0
\n\t\t\t\t\tsecurity on the gain from the share based incentive programme. The social security is accrued until the award is exercised/ \u00a0
\n\t\t\t\t\treleased\ufffd The social security is accrued over the corresponding vesting period\ufffd \u00a0
Accounting policy \u00a0
\n\t\t\t\t\tVesting of PSUs are dependent on two factors. 50 per cent of the PSUs will vest given that internal performance conditions are \u00a0
\n\t\t\t\t\tmet. The other 50 per cent will vest given that Nordic Nanovector shares deliver a total shareholder return (TSR) above 20 per \u00a0
\n\t\t\t\t\tcent. This leads to a 33 per cent vesting, while a TSR of 60 per cent or higher leads to a vesting of 100 per cent. TSR between 20 \u00a0
\n\t\t\t\t\tand 60 per cent will lead to a linear vesting structure. \u00a0
\n\t\t\t\t\tThe fair value of the granted PSUs with market condition is measured using the Monte-Carlo model. Measurement inputs include \u00a0
\n\t\t\t\t\tshare price on measurement date, exercise price of the instrument, expected volatility, vesting period, expected dividends, the \u00a0
\n\t\t\t\t\trisk-free interest rate and the share price appreciation condition\ufffd The expected volatility is calculated based on the historic data of \u00a0
\n\t\t\t\t\tthe Nordic Nanovector share price that corresponds to the expected life of the PSU\ufffd The Monte-Carlo model simulates future share \u00a0
\n\t\t\t\t\tprices in the risk-neutral framework, which results in simulated payoff of PSU. The average discounted simulated payoff across \u00a0
\n\t\t\t\t\tsimulations is the calculated fair value of one PSU with market condition. The fair value of the granted PSUs with operational \u00a0
\n\t\t\t\t\tperformance is measured using the share price at grant date minus the nominal value of the Nordic Nanovector share\ufffd \u00a0
Accounting policy \u00a0
\n\t\t\t\t\tThe fair value of the granted RSUs without market condition is measured using the share price at grant date. \u00a0
Accounting policy \u00a0
\n\t\t\t\t\tThe fair value of the equity instrument granted is measured using the Black-Scholes model\ufffd Measurement inputs include share \u00a0
\n\t\t\t\t\tprice on measurement date, exercise price of the instrument, expected volatility, weighted average expected life of the instruments, \u00a0
\n\t\t\t\t\texpected dividends, and the risk free interest rate\ufffd At last grant of options historic volatility of the Nordic Nanovector share price \u00a0
\n\t\t\t\t\tdid not provide suf\ufb01cient historic data that corresponds to the expected life of the option. The expected volatility was therefore \u00a0
\n\t\t\t\t\testimated based on the volatility of comparable listed companies\ufffd Risk free interest rates should be equal to the expected term of \u00a0
\n\t\t\t\t\tthe option being valued. For the options quoted in NOK, rates from Norges Bank on grant date are used (bonds and certi\ufb01cates). \u00a0
\n\t\t\t\t\tThe rates are interpolated in order to match the expected term\ufffd For calculation of fair value of the options it is assumed that \u00a0
\n\t\t\t\t\texpected exercise is one year after vesting date on all grants except for options granted before March 2015\ufffd For options granted \u00a0
\n\t\t\t\t\tbefore March 2015 expected exercise date is vesting date\ufffd \u00a0
Accounting policy \u00a0
\n\t\t\t\t\tDe\ufb01ned contribution plans \u00a0
\n\t\t\t\t\tThe pension premiums related to de\ufb01ned contribution plans are charged to expenses as they are incurred. \u00a0
\n\t\t\t\t\tDe\ufb01ned bene\ufb01t plans \u00a0
\n\t\t\t\t\tDe\ufb01ned bene\ufb01t plans are valued at the present value of accrued future pension bene\ufb01ts at the end of the reporting period. Pension \u00a0
\n\t\t\t\t\tplan assets are valued at their fair value\ufffd \u00a0
\n\t\t\t\t\tThe current service cost and net interest income/costs are recognised immediately and are presented as payroll and related \u00a0
\n\t\t\t\t\texpenses in the income statement. Net interest income/costs are calculated by using the discount rate of the liability at the beginning \u00a0
\n\t\t\t\t\tof the period on the net liability, but classi\ufb01ed as part of payroll and related costs. Changes in net pension liabilities as a result of \u00a0
\n\t\t\t\t\tpayments of premiums and pension payments have been taken into consideration. The difference between the actual return and the \u00a0
\n\t\t\t\t\taccounted return is recognised continuously through other comprehensive income\ufffd The pension costs are affecting the payroll and \u00a0
\n\t\t\t\t\trelated expenses in the income statement\ufffd Actuarial gains and losses, including changes in value, both for assets and liabilities, are \u00a0
\n\t\t\t\t\trecognised through other comprehensive income. Actuarial gains and losses are not reclassi\ufb01ed over pro\ufb01t and loss. \u00a0
\n\t\t\t\t\tGains or losses on the curtailment or settlement of a de\ufb01ned bene\ufb01t plan are recognised through pro\ufb01t and loss when the \u00a0
\n\t\t\t\t\tcurtailment or settlement occurs\ufffd \u00a0
\n\t\t\t\t\tA curtailment occurs when the group decides to make a material reduction in the number of employees covered by a plan or \u00a0
\n\t\t\t\t\tamends the terms of a de\ufb01ned bene\ufb01t plan, such that a considerable part of the current employees\u2019 future earnings will no longer \u00a0
\n\t\t\t\t\tqualify for bene\ufb01ts or will qualify only for reduced bene\ufb01ts. \u00a0
\n\t\t\t\t\tThe introduction of a new de\ufb01ned bene\ufb01t plan or an improvement to the current de\ufb01ned bene\ufb01t plan will lead to changes in \u00a0
\n\t\t\t\t\tthe pension liabilities. These will be charged to expenses in a straight line during the period until the effect of the change has \u00a0
\n\t\t\t\t\tbeen accrued. The introduction of new plans or changes to existing plans, which take place with retroactive effect so that the \u00a0
\n\t\t\t\t\temployees immediately accrue a paid-up policy (or a change in a paid-up policy) are recognised in the statement of comprehensive \u00a0
\n\t\t\t\t\tincome immediately\ufffd Gains or losses linked to curtailments or terminations of pension plans are recognised in the statement of \u00a0
\n\t\t\t\t\tcomprehensive income when they arise. \u00a0
Accounting policy \u00a0
\n\t\t\t\t\tIncome tax expense represents the sum of taxes currently payable and deferred tax\ufffd Deferred taxes are recognised based on \u00a0
\n\t\t\t\t\ttemporary differences between the carrying amounts of assets and liabilities in the \ufb01nancial statements and the corresponding \u00a0
\n\t\t\t\t\ttax bases used in the computation of taxable pro\ufb01t. Deferred tax liabilities are recognised for taxable temporary differences, and \u00a0
\n\t\t\t\t\tdeferred tax assets arising from deductible temporary differences are recognised to the extent that it is probable that taxable \u00a0
\n\t\t\t\t\tpro\ufb01ts will be available against which deductible temporary differences can be utilised. Deferred tax liabilities and assets are \u00a0
\n\t\t\t\t\tmeasured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax \u00a0
\n\t\t\t\t\trates that have been enacted or substantively enacted by the end of the reporting period\ufffd \u00a0
\n\t\t\t\t\tThe company is in the research phase of its product development and has incurred signi\ufb01cant tax losses related to its operations. \u00a0
\n\t\t\t\t\tThe deferred tax asset has not been recognised in the statement of \ufb01nancial position, as the company does not consider that \u00a0
\n\t\t\t\t\ttaxable income in the short-term will suf\ufb01ciently support the use of a deferred tax asset. \u00a0
8\ufffd1 INFORMATION
ABOUT SUBSIDIARIES \u00a0
\n\t\t\t\t\tAccounting policy \u00a0
\n\t\t\t\t\tShares and investments intended for long-term ownership are reported in the parent company\u2019s statement of \ufb01nancial position \u00a0
\n\t\t\t\t\tas long-term investments and valued at cost. The company determines at each reporting date whether there is any objective \u00a0
\n\t\t\t\t\tindication that the investment in the subsidiary is impaired\ufffd If this is the case, the amount of impairment is calculated as the \u00a0
\n\t\t\t\t\tdifference between the recoverable amount of the subsidiary and its carrying value and recognises the amount in the income \u00a0
\n\t\t\t\t\tstatement. Any realised and unrealised losses and any write-downs relating to these investments will be included in the parent\u2019s \u00a0
\n\t\t\t\t\tstatement of comprehensive income as \ufb01nancial items. \u00a0
Accounting policy \u00a0
\n\t\t\t\t\tThe sales to and purchases from related parties are made on terms equivalent to those that prevail in arm\u2019s length transactions. \u00a0
\n\t\t\t\t\tOutstanding balances at the year-end are unsecured and interest free and settlement occurs in cash\ufffd There have been no \u00a0
\n\t\t\t\t\tguarantees provided or received for any related party receivables or payables. Transactions and balances between companies, \u00a0
\n\t\t\t\t\twhich are a member of the group, have been eliminated in the consolidated accounts for the group. Note 8.1 provides information \u00a0
\n\t\t\t\t\tabout the group\u2019s structure. \u00a0
Accounting policy \u00a0
\n\t\t\t\t\tNew information on the company\u2019s \ufb01nancial position at the end of the reporting period which becomes known after the reporting \u00a0
\n\t\t\t\t\tperiod is recorded in the annual accounts.
Events after the reporting period that do not affect the company\u2019s \ufb01nancial position \u00a0
\n\t\t\t\t\tat the end of the reporting period, but which will affect the company\u2019s \ufb01nancial position in the future, are disclosed if signi\ufb01cant. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXG6DK30",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact1059": {
"value": "Nordic Nanovector ASA",
"dimensions": {
"concept": "ifrs-full:NameOfReportingEntityOrOtherMeansOfIdentification",
"language": "en",
"entity": "scheme:5967007LIEEXZXG6DK30",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact1060": {
"value": "Nordic Nanovector ASA",
"dimensions": {
"concept": "ifrs-full:NameOfParentEntity",
"language": "en",
"entity": "scheme:5967007LIEEXZXG6DK30",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact1398": {
"value": "2.1 BASIS
FOR PREPARATION OF THE ANNUAL ACCOUNTS \u00a0
\n\t\t\t\t\tThe consolidated \ufb01nancial statements for the group and the parent have been prepared in accordance with EU-approved \u00a0
\n\t\t\t\t\tInternational Financial Reporting Standards (IFRS) and Interpretations issued by the International Accounting Standards Board \u00a0
\n\t\t\t\t\t(IASB) and disclosure requirements in accordance with the Norwegian Accounting Act. Only standards that are effective for the \u00a0
\n\t\t\t\t\t\ufb01scal year ended 31 December 2022 have been applied. \u00a0
\n\t\t\t\t\tThe \ufb01nancial statements have been prepared on the historical cost basis. The preparation of \ufb01nancial statements in conformity \u00a0
\n\t\t\t\t\twith IFRS requires the use of certain critical accounting estimates. It also requires management to exercise its judgments in \u00a0
\n\t\t\t\t\tapplying the group\u2019s accounting policies. \u00a0
\n\t\t\t\t\tAreas involving a high degree of judgment or complexity, and areas in which assumptions and estimates are signi\ufb01cant to the \u00a0
\n\t\t\t\t\t\ufb01nancial statements are disclosed in note 2.4. The consolidated \ufb01nancial statements have been prepared on the basis of uniform \u00a0
\n\t\t\t\t\taccounting principles for similar transactions and events under otherwise similar circumstances. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfBasisOfPreparationOfFinancialStatementsExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXG6DK30",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact1399": {
"value": "The consolidated \ufb01nancial statements for the group and the parent have been prepared in accordance with EU-approved \u00a0
\n\t\t\t\t\tInternational Financial Reporting Standards (IFRS) and Interpretations issued by the International Accounting Standards Board \u00a0
\n\t\t\t\t\t(IASB) and disclosure requirements in accordance with the Norwegian Accounting Act. Only standards that are effective for the \u00a0
\n\t\t\t\t\t\ufb01scal year ended 31 December 2022 have been applied. \u00a0
",
"dimensions": {
"concept": "ifrs-full:StatementOfIFRSCompliance",
"language": "en",
"entity": "scheme:5967007LIEEXZXG6DK30",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact1400": {
"value": "Going concern \u00a0
\n\t\t\t\t\tThe company works continuously to ensure \ufb01nancial \ufb02exibility in the short and long-term to achieve its strategic and operational \u00a0
\n\t\t\t\t\tobjectives. To date, the company has \ufb01nanced its operations through private placements, grants, repair offerings and the initial \u00a0
\n\t\t\t\t\tpublic offering in connection with the listing of the company\u2019s shares on Oslo B\u00f8rs in 2015. In January 2022 the company raised \u00a0
\n\t\t\t\t\tapproximately NOK 250 million in gross proceeds in a private placement\ufffd \u00a0
\n\t\t\t\t\tFollowing the decisions in 2022 to discontinue the PARADIGME study and implement a restructuring of the company, Nordic \u00a0
\n\t\t\t\t\tNanovector believes that the best interests of shareholders will be served by thoroughly exploring all strategic options that may be \u00a0
\n\t\t\t\t\tavailable. As a publicly quoted company with a listing in Norway, remaining cash resources and a pipeline of CD37-targeted assets, \u00a0
\n\t\t\t\t\tthe company believes that there is an opportunity to crystalise value for shareholders through a potential strategic transaction\ufffd \u00a0
\n\t\t\t\t\tThe company will continue as an R&D company until it \ufb01nds a new owner or partner that can secure new funding and support the \u00a0
\n\t\t\t\t\tongoing programmes. The board and management continue to explore all strategic options and are in close contact with potential \u00a0
\n\t\t\t\t\tpartners. However, if the company is not successful in \ufb01nding a new partner or funding, the board will have no option other than to \u00a0
\n\t\t\t\t\twind up the business. No assurances can be given as to the outcome or timing of the ongoing review process. \u00a0
\n\t\t\t\t\tSeveral measures have been implemented to reduce the burn rate and the company\u2019s current net cash is, under the current \u00a0
\n\t\t\t\t\toperating model, expected to \ufb01nance its ongoing operations into the second quarter of 2024. The company has also identi\ufb01ed \u00a0
\n\t\t\t\t\tadditional cost reductions by scaling down R&D project costs and staff, admin staff and other advisory costs that can be \u00a0
\n\t\t\t\t\timplemented if needed, to extend the cash runway or reallocate existing cash resources. \u00a0
\n\t\t\t\t\tThe board of directors has con\ufb01rmed that the conditions for assuming that the group is a going concern are present, and that the \u00a0
\n\t\t\t\t\t\ufb01nancial statements have been prepared based on this assumption. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfGoingConcernExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXG6DK30",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact1401": {
"value": "2.2 CONSOLIDATION
PRINCIPLES \u00a0
\n\t\t\t\t\tThe group\u2019s consolidated \ufb01nancial statements comprise the parent company and its subsidiaries as of 31 December 2022. An \u00a0
\n\t\t\t\t\tentity has been assessed as being controlled by the group when the group is exposed for or has the rights to variable returns from \u00a0
\n\t\t\t\t\tits involvement with the entity, and has the ability to use its decision over the entity to affect the amount of the group\u2019s returns. \u00a0
\n\t\t\t\t\tThus, the group controls an entity if, and only if, the group has all the following: \u00a0
\n\t\t\t\t\t\u2022 Power over the entity. \u00a0
\n\t\t\t\t\t\u2022 The exposure, or rights, to variable returns from its involvement with the entity. \u00a0
\n\t\t\t\t\t\u2022 The ability to use its power over the entity to affect the amount of the group\u2019s returns. \u00a0
\n\t\t\t\t\tThere is a presumption that if the group has the majority of the voting rights in an entity, the entity is considered as a subsidiary\ufffd \u00a0
\n\t\t\t\t\tTo support this presumption and when the group has less than a majority of the voting or similar rights of an investee, the group \u00a0
\n\t\t\t\t\tconsiders all relevant facts and circumstances in assessing whether it has power over the entity, including ownership interests, \u00a0
voting rights, ownership structure and relative power, as well as options controlled by the group and shareholder\u2019s agreement or \u00a0
\n\t\t\t\t\tother contractual agreements. The assessments are done for each individual investment. The group reassesses whether or not \u00a0
\n\t\t\t\t\tit controls an entity if facts and circumstances indicate that there are changes to one or more of the three elements of control\ufffd \u00a0
\n\t\t\t\t\tConsolidation of a subsidiary begins when the group obtains control over the subsidiary and ceases when the group loses control \u00a0
\n\t\t\t\t\tof the subsidiary. Pro\ufb01t or loss and each component of other comprehensive income (OCI) are attributed to the equity holders \u00a0
\n\t\t\t\t\tof the parent of the group and to the non-controlling interests, even if this results in the non-controlling interests having a de\ufb01cit \u00a0
\n\t\t\t\t\tbalance. When necessary, adjustments are made to the \ufb01nancial statements of subsidiaries to bring their accounting policies into \u00a0
\n\t\t\t\t\tline with the group\u2019s accounting policies. All intra-group assets and liabilities, equity, income, expenses and cash \ufb02ows relating to \u00a0
\n\t\t\t\t\ttransactions between members of the group are eliminated in full on consolidation. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfBasisOfConsolidationExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXG6DK30",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact1403": {
"value": "2.2 CONSOLIDATION
PRINCIPLES \u00a0
\n\t\t\t\t\tThe group\u2019s consolidated \ufb01nancial statements comprise the parent company and its subsidiaries as of 31 December 2022. An \u00a0
\n\t\t\t\t\tentity has been assessed as being controlled by the group when the group is exposed for or has the rights to variable returns from \u00a0
\n\t\t\t\t\tits involvement with the entity, and has the ability to use its decision over the entity to affect the amount of the group\u2019s returns. \u00a0
\n\t\t\t\t\tThus, the group controls an entity if, and only if, the group has all the following: \u00a0
\n\t\t\t\t\t\u2022 Power over the entity. \u00a0
\n\t\t\t\t\t\u2022 The exposure, or rights, to variable returns from its involvement with the entity. \u00a0
\n\t\t\t\t\t\u2022 The ability to use its power over the entity to affect the amount of the group\u2019s returns. \u00a0
\n\t\t\t\t\tThere is a presumption that if the group has the majority of the voting rights in an entity, the entity is considered as a subsidiary\ufffd \u00a0
\n\t\t\t\t\tTo support this presumption and when the group has less than a majority of the voting or similar rights of an investee, the group \u00a0
\n\t\t\t\t\tconsiders all relevant facts and circumstances in assessing whether it has power over the entity, including ownership interests, \u00a0
voting rights, ownership structure and relative power, as well as options controlled by the group and shareholder\u2019s agreement or \u00a0
\n\t\t\t\t\tother contractual agreements. The assessments are done for each individual investment. The group reassesses whether or not \u00a0
\n\t\t\t\t\tit controls an entity if facts and circumstances indicate that there are changes to one or more of the three elements of control\ufffd \u00a0
\n\t\t\t\t\tConsolidation of a subsidiary begins when the group obtains control over the subsidiary and ceases when the group loses control \u00a0
\n\t\t\t\t\tof the subsidiary. Pro\ufb01t or loss and each component of other comprehensive income (OCI) are attributed to the equity holders \u00a0
\n\t\t\t\t\tof the parent of the group and to the non-controlling interests, even if this results in the non-controlling interests having a de\ufb01cit \u00a0
\n\t\t\t\t\tbalance. When necessary, adjustments are made to the \ufb01nancial statements of subsidiaries to bring their accounting policies into \u00a0
\n\t\t\t\t\tline with the group\u2019s accounting policies. All intra-group assets and liabilities, equity, income, expenses and cash \ufb02ows relating to \u00a0
\n\t\t\t\t\ttransactions between members of the group are eliminated in full on consolidation. \u00a0
8\ufffd1 INFORMATION
ABOUT SUBSIDIARIES \u00a0
\n\t\t\t\t\tAccounting policy \u00a0
\n\t\t\t\t\tShares and investments intended for long-term ownership are reported in the parent company\u2019s statement of \ufb01nancial position \u00a0
\n\t\t\t\t\tas long-term investments and valued at cost. The company determines at each reporting date whether there is any objective \u00a0
\n\t\t\t\t\tindication that the investment in the subsidiary is impaired\ufffd If this is the case, the amount of impairment is calculated as the \u00a0
\n\t\t\t\t\tdifference between the recoverable amount of the subsidiary and its carrying value and recognises the amount in the income \u00a0
\n\t\t\t\t\tstatement. Any realised and unrealised losses and any write-downs relating to these investments will be included in the parent\u2019s \u00a0
\n\t\t\t\t\tstatement of comprehensive income as \ufb01nancial items. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForSubsidiariesExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXG6DK30",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact1406": {
"value": "2.3 FUNCTIONAL
CURRENCY AND PRESENTATION CURRENCY \u00a0
\n\t\t\t\t\tThe functional currency is determined in each entity in the group based on the currency within the entity\u2019s primary economic \u00a0
\n\t\t\t\t\tenvironment\ufffd Transactions in foreign currency are translated to functional currency using the exchange rate at the date of the \u00a0
\n\t\t\t\t\ttransaction\ufffd At the end of each reporting period foreign currency monetary items are translated using the closing rate\ufffd Currency \u00a0
\n\t\t\t\t\tgains or losses are classi\ufb01ed as \ufb01nancial items. Non-monetary items that are measured in terms of historical cost are translated \u00a0
\n\t\t\t\t\tusing the exchange rate at the date of the transaction, and non-monetary items that are measured at fair value in a foreign \u00a0
\n\t\t\t\t\tcurrency are translated using the exchange rates at the date when the fair value was measured. Changes in the exchange rate are \u00a0
\n\t\t\t\t\trecognised continuously in the accounting period\ufffd \u00a0
\n\t\t\t\t\tThe group\u2019s presentation currency is NOK. This is also the parent company\u2019s functional currency. The statement of \ufb01nancial \u00a0
\n\t\t\t\t\tposition \ufb01gures of entities with a different functional currency are translated at the exchange rate prevailing at the end of the \u00a0
\n\t\t\t\t\treporting period for balance sheet items, and the exchange rate at the date of the transaction for pro\ufb01t and loss items. The monthly \u00a0
\n\t\t\t\t\taverage exchange rates are used as an approximation of the transaction exchange rate\ufffd Exchange differences are recognised in \u00a0
\n\t\t\t\t\tother comprehensive income (OCI)\ufffd \u00a0
",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForFunctionalCurrencyExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXG6DK30",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact1407": {
"value": "2.3 FUNCTIONAL
CURRENCY AND PRESENTATION CURRENCY \u00a0
\n\t\t\t\t\tThe functional currency is determined in each entity in the group based on the currency within the entity\u2019s primary economic \u00a0
\n\t\t\t\t\tenvironment\ufffd Transactions in foreign currency are translated to functional currency using the exchange rate at the date of the \u00a0
\n\t\t\t\t\ttransaction\ufffd At the end of each reporting period foreign currency monetary items are translated using the closing rate\ufffd Currency \u00a0
\n\t\t\t\t\tgains or losses are classi\ufb01ed as \ufb01nancial items. Non-monetary items that are measured in terms of historical cost are translated \u00a0
\n\t\t\t\t\tusing the exchange rate at the date of the transaction, and non-monetary items that are measured at fair value in a foreign \u00a0
\n\t\t\t\t\tcurrency are translated using the exchange rates at the date when the fair value was measured. Changes in the exchange rate are \u00a0
\n\t\t\t\t\trecognised continuously in the accounting period\ufffd \u00a0
\n\t\t\t\t\tThe group\u2019s presentation currency is NOK. This is also the parent company\u2019s functional currency. The statement of \ufb01nancial \u00a0
\n\t\t\t\t\tposition \ufb01gures of entities with a different functional currency are translated at the exchange rate prevailing at the end of the \u00a0
\n\t\t\t\t\treporting period for balance sheet items, and the exchange rate at the date of the transaction for pro\ufb01t and loss items. The monthly \u00a0
\n\t\t\t\t\taverage exchange rates are used as an approximation of the transaction exchange rate\ufffd Exchange differences are recognised in \u00a0
\n\t\t\t\t\tother comprehensive income (OCI)\ufffd \u00a0
",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForForeignCurrencyTranslationExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXG6DK30",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact1408": {
"value": "2.4 SIGNIFICANT
ACCOUNTING JUDGEMENTS, ESTIMATES AND ASSUMPTIONS \u00a0
\n\t\t\t\t\tCritical accounting estimates and judgements \u00a0
\n\t\t\t\t\tManagement makes estimates and assumptions that affect the reported amounts of assets and liabilities within the next \ufb01nancial \u00a0
\n\t\t\t\t\tyear\ufffd Estimates and judgements are evaluated on an on-going basis and are based on historical experience and other factors, \u00a0
\n\t\t\t\t\tincluding expectations of future events that are considered to be relevant\ufffd \u00a0
Critical judgements in applying the group\u2019s accounting policies \u00a0
\n\t\t\t\t\tDeferred tax \u00a0
\n\t\t\t\t\tThe company considers that a deferred tax asset related to accumulated tax losses cannot be recognised in the statement of \u00a0
\n\t\t\t\t\t\ufb01nancial position until the product under development has been approved for marketing by the relevant authorities. However, this \u00a0
\n\t\t\t\t\tassumption is continually assessed and changes could lead to signi\ufb01cant deferred tax asset being recognised in the future. This \u00a0
\n\t\t\t\t\tassumption requires signi\ufb01cant management judgment. See note 7.1. \u00a0
Development costs \u00a0
\n\t\t\t\t\tResearch and development costs are recognised in the income statement as incurred\ufffd Internal development costs related to the \u00a0
\n\t\t\t\t\tgroup\u2019s development of products are recognised in the income statement in the year in which it is incurred, unless it meets the \u00a0
\n\t\t\t\t\trecognition criteria of IAS 38 intangible assets\ufffd Uncertainties related to the regulatory approval process and other factors generally \u00a0
\n\t\t\t\t\tmeans that the criteria are not met until the time when the marketing authorisation is obtained with the regulatory authorities. This \u00a0
\n\t\t\t\t\tassessment requires signi\ufb01cant management judgement. \u00a0
Key sources of estimation uncertainty - critical accounting estimates \u00a0
\n\t\t\t\t\tShare-based payments \u00a0
\n\t\t\t\t\tEquity-settled share-based payments are measured at the fair value of the equity instruments at the grant date\ufffd Calculation of fair \u00a0
\n\t\t\t\t\tvalue involves estimates and assumptions\ufffd Measurement inputs include share price on measurement date, exercise price of the \u00a0
\n\t\t\t\t\tinstrument, expected volatility, weighted average expected life of the instruments, expected dividends, and the risk-free interest \u00a0
\n\t\t\t\t\trate\ufffd At the end of each reporting period, the group revises its estimates of the number of equity instruments that are expected to \u00a0
\n\t\t\t\t\tvest. It recognises the impact of the revision to original estimates, if any, in pro\ufb01t or loss, with a corresponding adjustment to equity. \u00a0
\n\t\t\t\t\tChanges to the estimates may signi\ufb01cantly in\ufb02uence the expense recognised during a period. The assumptions and models used \u00a0
\n\t\t\t\t\tfor estimating fair value for share based payment transactions are disclosed in note 6\ufffd3\ufffd \u00a0
4\ufffd2 LEASES
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfAccountingJudgementsAndEstimatesExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXG6DK30",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact1413": {
"value": "Critical judgements in applying the group\u2019s accounting policies \u00a0
\n\t\t\t\t\tDeferred tax \u00a0
\n\t\t\t\t\tThe company considers that a deferred tax asset related to accumulated tax losses cannot be recognised in the statement of \u00a0
\n\t\t\t\t\t\ufb01nancial position until the product under development has been approved for marketing by the relevant authorities. However, this \u00a0
\n\t\t\t\t\tassumption is continually assessed and changes could lead to signi\ufb01cant deferred tax asset being recognised in the future. This \u00a0
\n\t\t\t\t\tassumption requires signi\ufb01cant management judgment. See note 7.1. \u00a0
7.1 INCOME
TAX \u00a0
Accounting policy \u00a0
\n\t\t\t\t\tIncome tax expense represents the sum of taxes currently payable and deferred tax\ufffd Deferred taxes are recognised based on \u00a0
\n\t\t\t\t\ttemporary differences between the carrying amounts of assets and liabilities in the \ufb01nancial statements and the corresponding \u00a0
\n\t\t\t\t\ttax bases used in the computation of taxable pro\ufb01t. Deferred tax liabilities are recognised for taxable temporary differences, and \u00a0
\n\t\t\t\t\tdeferred tax assets arising from deductible temporary differences are recognised to the extent that it is probable that taxable \u00a0
\n\t\t\t\t\tpro\ufb01ts will be available against which deductible temporary differences can be utilised. Deferred tax liabilities and assets are \u00a0
\n\t\t\t\t\tmeasured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax \u00a0
\n\t\t\t\t\trates that have been enacted or substantively enacted by the end of the reporting period\ufffd \u00a0
\n\t\t\t\t\tThe company is in the research phase of its product development and has incurred signi\ufb01cant tax losses related to its operations. \u00a0
\n\t\t\t\t\tThe deferred tax asset has not been recognised in the statement of \ufb01nancial position, as the company does not consider that \u00a0
\n\t\t\t\t\ttaxable income in the short-term will suf\ufb01ciently support the use of a deferred tax asset. \u00a0
PARENT \u00a0
\n\t\t\t\t\tGROUP \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t(Amounts in NOK 1 000) \u00a0
\n\t\t\t\t\t2 600 387 \u00a0
\n\t\t\t\t\t2 913 068
Tax losses carried forward \u00a0
\n\t\t\t\t\t2 912 552
2 600 386 \u00a0
\n\t\t\t\t\t832 \u00a0
\n\t\t\t\t\t991 Property, plant
and equipment \u00a0
\n\t\t\t\t\t991 \u00a0
\n\t\t\t\t\t832 \u00a0
\n\t\t\t\t\t331 \u00a0
\n\t\t\t\t\t1
\n\t\t\t\t\tLeasing agreements \u00a0
\n\t\t\t\t\t1
\n\t\t\t\t\t331 \u00a0
\n\t\t\t\t\t878 \u00a0
\n\t\t\t\t\t19 073
Liabilities \u00a0
\n\t\t\t\t\t19 073 \u00a0
\n\t\t\t\t\t878 \u00a0
\n\t\t\t\t\t135 \u00a0
\n\t\t\t\t\t112 Tax payable \u00a0
\n\t\t\t\t\t112 \u00a0
\n\t\t\t\t\t135 \u00a0
\n\t\t\t\t\t2 602 563
2 933 245
Temporary differences and tax loss carry forward \u00a0
\n\t\t\t\t\t2 932 729 \u00a0
\n\t\t\t\t\t2 602 562 \u00a0
\n\t\t\t\t\t572 564 \u00a0
\n\t\t\t\t\t645 314
Deferred tax assets - not recognised in statement of \ufb01nancial position \u00a0
\n\t\t\t\t\t645 200 \u00a0
\n\t\t\t\t\t572 564 \u00a0
Deferred tax assets as of 31 December 2022 and 2021 have been calculated using a tax rate of 22 per cent\ufffd \u00a0
\n\t\t\t\t\tThe group is in the research phase of its product development and has incurred signi\ufb01cant tax losses related to its operations. \u00a0
\n\t\t\t\t\tThe parent company has a total tax loss carried forward of NOK 2 913.2 million at 31 December 2022. At 31 December 2021 the \u00a0
\n\t\t\t\t\ttotal tax loss carried forward was NOK 2 600.4 million. The tax losses can be carried forward inde\ufb01nitely. \u00a0
\n\t\t\t\t\tThe group nor the parent company have recognised a deferred tax asset in the statement of \ufb01nancial position, as the parent \u00a0
\n\t\t\t\t\tcompany does not consider that taxable income in the near term will suf\ufb01ciently support the utilization of a deferred tax asset. \u00a0
\n\t\t\t\t\tNo current or deferred tax charge or liability has been recognised for 2022 and 2021\ufffd \u00a0
\n\t\t\t\t\tThe income tax expense in the parent relates to pro\ufb01t before income tax in Nordic Nanovector DK, branch of Nordic Nanovector \u00a0
\n\t\t\t\t\tASA. Pro\ufb01t before tax in the subsidiaries in UK and Switzerland leads to a tax expense for the group. \u00a0
\n\t\t\t\t\tThe correction in 2021 is mainly related to tax treatment on dividend received from Nordic Nanovector GmbH\ufffd \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfDeferredTaxesExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXG6DK30",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact1418": {
"value": "Critical judgements in applying the group\u2019s accounting policies \u00a0
\n\t\t\t\t\tDeferred tax \u00a0
\n\t\t\t\t\tThe company considers that a deferred tax asset related to accumulated tax losses cannot be recognised in the statement of \u00a0
\n\t\t\t\t\t\ufb01nancial position until the product under development has been approved for marketing by the relevant authorities. However, this \u00a0
\n\t\t\t\t\tassumption is continually assessed and changes could lead to signi\ufb01cant deferred tax asset being recognised in the future. This \u00a0
\n\t\t\t\t\tassumption requires signi\ufb01cant management judgment. See note 7.1. \u00a0
Accounting policy \u00a0
\n\t\t\t\t\tIncome tax expense represents the sum of taxes currently payable and deferred tax\ufffd Deferred taxes are recognised based on \u00a0
\n\t\t\t\t\ttemporary differences between the carrying amounts of assets and liabilities in the \ufb01nancial statements and the corresponding \u00a0
\n\t\t\t\t\ttax bases used in the computation of taxable pro\ufb01t. Deferred tax liabilities are recognised for taxable temporary differences, and \u00a0
\n\t\t\t\t\tdeferred tax assets arising from deductible temporary differences are recognised to the extent that it is probable that taxable \u00a0
\n\t\t\t\t\tpro\ufb01ts will be available against which deductible temporary differences can be utilised. Deferred tax liabilities and assets are \u00a0
\n\t\t\t\t\tmeasured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax \u00a0
\n\t\t\t\t\trates that have been enacted or substantively enacted by the end of the reporting period\ufffd \u00a0
\n\t\t\t\t\tThe company is in the research phase of its product development and has incurred signi\ufb01cant tax losses related to its operations. \u00a0
\n\t\t\t\t\tThe deferred tax asset has not been recognised in the statement of \ufb01nancial position, as the company does not consider that \u00a0
\n\t\t\t\t\ttaxable income in the short-term will suf\ufb01ciently support the use of a deferred tax asset. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForDeferredIncomeTaxExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXG6DK30",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact1420": {
"value": "Development costs \u00a0
\n\t\t\t\t\tResearch and development costs are recognised in the income statement as incurred\ufffd Internal development costs related to the \u00a0
\n\t\t\t\t\tgroup\u2019s development of products are recognised in the income statement in the year in which it is incurred, unless it meets the \u00a0
\n\t\t\t\t\trecognition criteria of IAS 38 intangible assets\ufffd Uncertainties related to the regulatory approval process and other factors generally \u00a0
\n\t\t\t\t\tmeans that the criteria are not met until the time when the marketing authorisation is obtained with the regulatory authorities. This \u00a0
\n\t\t\t\t\tassessment requires signi\ufb01cant management judgement. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForResearchAndDevelopmentExpenseExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXG6DK30",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact1421": {
"value": "Development costs \u00a0
\n\t\t\t\t\tResearch and development costs are recognised in the income statement as incurred\ufffd Internal development costs related to the \u00a0
\n\t\t\t\t\tgroup\u2019s development of products are recognised in the income statement in the year in which it is incurred, unless it meets the \u00a0
\n\t\t\t\t\trecognition criteria of IAS 38 intangible assets\ufffd Uncertainties related to the regulatory approval process and other factors generally \u00a0
\n\t\t\t\t\tmeans that the criteria are not met until the time when the marketing authorisation is obtained with the regulatory authorities. This \u00a0
\n\t\t\t\t\tassessment requires signi\ufb01cant management judgement. \u00a0
PARENT \u00a0
\n\t\t\t\t\tGROUP \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\tNote \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t(Amounts in NOK 1 000) \u00a0
\n\t\t\t\t\t313 023 \u00a0
\n\t\t\t\t\t197 869
Research and development costs \u00a0
\n\t\t\t\t\t3\ufffd5 \u00a0
\n\t\t\t\t\t202 541 \u00a0
\n\t\t\t\t\t317 981 \u00a0
\n\t\t\t\t\t-4 725 \u00a0
\n\t\t\t\t\t-4 589
Government grants \u00a0
\n\t\t\t\t\t3\ufffd3 \u00a0
\n\t\t\t\t\t-4 589 \u00a0
\n\t\t\t\t\t-4 725 \u00a0
\n\t\t\t\t\t1 279 \u00a0
\n\t\t\t\t\t907 Cost of share based payment (RSUs) \u00a0
\n\t\t\t\t\t6\ufffd3 \u00a0
\n\t\t\t\t\t907 \u00a0
\n\t\t\t\t\t1 279 \u00a0
\n\t\t\t\t\t64 571 \u00a0
\n\t\t\t\t\t62 340
Charges from group companies \u00a0
\n\t\t\t\t\t8\ufffd2 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t22 395 \u00a0
\n\t\t\t\t\t26 849
Other administrative costs \u00a0
\n\t\t\t\t\t28 773 \u00a0
\n\t\t\t\t\t24 890 \u00a0
\n\t\t\t\t\t396 543 \u00a0
\n\t\t\t\t\t283 376
Total other operating expenses \u00a0
\n\t\t\t\t\t227 632 \u00a0
\n\t\t\t\t\t339 425 \u00a0
\n\t\t\t\t\tOther administrative costs include NOK 7.2 million in expenses directly related to the proposed merger with APIM Therapeutics \u00a0
\n\t\t\t\t\tAS, which was voted down on the EGM in December 2022 \u00a0
3.5 RESEARCH
AND DEVELOPMENT EXPENSES \u00a0
Accounting policy \u00a0
\n\t\t\t\t\tThe group\u2019s products are still in the research and development phase, and there are no revenue from sales of products yet. \u00a0
\n\t\t\t\t\tExpenditure on research activities is recognised as an expense in the period in which it is incurred. Internal development costs \u00a0
\n\t\t\t\t\trelated to the group\u2019s development of products are recognised in the income statement in the year incurred unless it meets the \u00a0
\n\t\t\t\t\tasset recognition criteria of IAS 38 \u201cIntangible Assets\u201d\ufffd An internally generated asset arising from the development phase of a \u00a0
\n\t\t\t\t\tresearch and development project is recognised if, and only if, all of the following has been demonstrated: \u00a0
\n\t\t\t\t\t\u25cf Technical feasibility of completing the intangible asset so that it will be available for use or sale. \u00a0
\n\t\t\t\t\t\u25cf The intention to complete the intangible asset and use or sell it. \u00a0
\n\t\t\t\t\t\u25cf The ability to use or sell the intangible asset. \u00a0
\n\t\t\t\t\t\u25cf How the intangible asset will generate probable future economic bene\ufb01ts. \u00a0
\n\t\t\t\t\t\u25cf The availability of adequate technical, \ufb01nancial and other resources to complete the development and use or sell the intangible asset. \u00a0
\n\t\t\t\t\t\u25cf The ability to measure reliably the expenditure attributable to the intangible asset during its development. \u00a0
\n\t\t\t\t\tUncertainties related to the regulatory approval process and results from ongoing clinical trials, generally, indicate that the criteria \u00a0
\n\t\t\t\t\tare not met until the time when marketing authorisation is obtained from relevant regulatory authorities. The group has currently \u00a0
\n\t\t\t\t\tno development expenditure that quali\ufb01es for recognition as an asset under IAS 38. \u00a0
\n\t\t\t\t\tResearch and development expenses are presented net, after deduction of government grants\ufffd \u00a0
Research and development expenses \u00a0
\n\t\t\t\t\tCost related to research and development is expensed. During the \ufb01nancial year 2022 expenses for research and development \u00a0
\n\t\t\t\t\twere NOK 247.3
million whereas, NOK 202.5 million is classi\ufb01ed as other operating expenses, NOK 3.5 is classi\ufb01ed as depreciation \u00a0
\n\t\t\t\t\tand NOK 41.3 million is classi\ufb01ed as payroll. In 2021 the research and development expenses were NOK 375.0 million whereas \u00a0
\n\t\t\t\t\tNOK 318.0 million is classi\ufb01ed as operating expenses, NOK 8.8 is classi\ufb01ed as depreciation and NOK 48.3 million is classi\ufb01ed \u00a0
\n\t\t\t\t\tas payroll respectively\ufffd Research and development expenses above are presented as gross amounts, before deduction of \u00a0
\n\t\t\t\t\tgovernment grants\ufffd Total cost does not include cost related to share-based payments\ufffd See note 3\ufffd3 for more information about \u00a0
\n\t\t\t\t\tgovernment grants presented as a reduction of operating costs\ufffd \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfResearchAndDevelopmentExpenseExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXG6DK30",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact1426": {
"value": "Key sources of estimation uncertainty - critical accounting estimates \u00a0
\n\t\t\t\t\tShare-based payments \u00a0
\n\t\t\t\t\tEquity-settled share-based payments are measured at the fair value of the equity instruments at the grant date\ufffd Calculation of fair \u00a0
\n\t\t\t\t\tvalue involves estimates and assumptions\ufffd Measurement inputs include share price on measurement date, exercise price of the \u00a0
\n\t\t\t\t\tinstrument, expected volatility, weighted average expected life of the instruments, expected dividends, and the risk-free interest \u00a0
\n\t\t\t\t\trate\ufffd At the end of each reporting period, the group revises its estimates of the number of equity instruments that are expected to \u00a0
\n\t\t\t\t\tvest. It recognises the impact of the revision to original estimates, if any, in pro\ufb01t or loss, with a corresponding adjustment to equity. \u00a0
\n\t\t\t\t\tChanges to the estimates may signi\ufb01cantly in\ufb02uence the expense recognised during a period. The assumptions and models used \u00a0
\n\t\t\t\t\tfor estimating fair value for share based payment transactions are disclosed in note 6\ufffd3\ufffd \u00a0
PARENT \u00a0
\n\t\t\t\t\tGROUP \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t(Amounts in NOK 1 000) \u00a0
\n\t\t\t\t\tNote \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t28 250 \u00a0
\n\t\t\t\t\t27 129 \u00a0
\n\t\t\t\t\tSalaries and bonus \u00a0
\n\t\t\t\t\t6\ufffd2, 6\ufffd3 \u00a0
\n\t\t\t\t\t68 760 \u00a0
\n\t\t\t\t\t71 017 \u00a0
\n\t\t\t\t\t3 895 \u00a0
\n\t\t\t\t\t3 984 \u00a0
\n\t\t\t\t\tSocial security tax \u00a0
\n\t\t\t\t\t8 676 \u00a0
\n\t\t\t\t\t8 575 \u00a0
\n\t\t\t\t\t1 673 \u00a0
\n\t\t\t\t\t1 701 \u00a0
\n\t\t\t\t\tPension expense \u00a0
\n\t\t\t\t\t6\ufffd5 \u00a0
\n\t\t\t\t\t4 907 \u00a0
\n\t\t\t\t\t3 165 \u00a0
\n\t\t\t\t\t2 495 \u00a0
\n\t\t\t\t\t-1 487 \u00a0
\n\t\t\t\t\tShare based payment employees \u00a0
\n\t\t\t\t\t6\ufffd3 \u00a0
\n\t\t\t\t\t-4 209 \u00a0
\n\t\t\t\t\t6 313 \u00a0
\n\t\t\t\t\t539 \u00a0
\n\t\t\t\t\t-869 \u00a0
\n\t\t\t\t\tAccrued employer's social security on share based payment \u00a0
\n\t\t\t\t\t6\ufffd3 \u00a0
\n\t\t\t\t\t-1 640 \u00a0
\n\t\t\t\t\t1 000 \u00a0
\n\t\t\t\t\t850 \u00a0
\n\t\t\t\t\t498 \u00a0
\n\t\t\t\t\tOther \u00a0
\n\t\t\t\t\t2 244 \u00a0
\n\t\t\t\t\t2 020 \u00a0
\n\t\t\t\t\t-452 \u00a0
\n\t\t\t\t\t-211 \u00a0
\n\t\t\t\t\tGovernment grants \u00a0
\n\t\t\t\t\t3\ufffd3 \u00a0
\n\t\t\t\t\t-211 \u00a0
\n\t\t\t\t\t-452 \u00a0
\n\t\t\t\t\t37 250 \u00a0
\n\t\t\t\t\t30 745 \u00a0
\n\t\t\t\t\tTotal payroll and related expenses \u00a0
\n\t\t\t\t\t78 527 \u00a0
\n\t\t\t\t\t91 638 \u00a0
6\ufffd1 REMUNERATION
TO MANAGEMENT \u00a0
Compensation of management \u00a0
\n\t\t\t\t\t(Amounts in NOK 1 000) \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tShort term employment bene\ufb01ts 1) \u00a0
\n\t\t\t\t\t22 391 \u00a0
\n\t\t\t\t\t30 743 \u00a0
\n\t\t\t\t\tPost-employment pension 2) \u00a0
\n\t\t\t\t\t1 465 \u00a0
\n\t\t\t\t\t1 148 \u00a0
\n\t\t\t\t\tTermination bene\ufb01ts 3) \u00a0
\n\t\t\t\t\t1 016 \u00a0
\n\t\t\t\t\t-
\n\t\t\t\t\tTotal compensation of management personnel of the group in cash \u00a0
\n\t\t\t\t\t24 872 \u00a0
\n\t\t\t\t\t31 891 \u00a0
\n\t\t\t\t\tImputed share based payment expense 4) \u00a0
\n\t\t\t\t\t-2 473 \u00a0
\n\t\t\t\t\t4 044 \u00a0
\n\t\t\t\t\tTotal compensation of management personnel of the group expense \u00a0
\n\t\t\t\t\t22 399 \u00a0
\n\t\t\t\t\t35 935 \u00a0
\n\t\t\t\t\t1) Short term employment bene\ufb01ts: Includes base salary and bene\ufb01ts, vacation pay if relevant and short tem incentives including annual bonus. \u00a0
\n\t\t\t\t\t2) Post-employment pension: Represents company\u2019s share of payment to pension contribution or bene\ufb01t plan during the period. See note 6.5 for more details \u00a0
\n\t\t\t\t\ton pensions. \u00a0
\n\t\t\t\t\t3) Termination bene\ufb01ts: As of 31 Desember 2022 two members of management have receive termination bene\ufb01ts. In addition four members of management \u00a0
\n\t\t\t\t\twill receive termination bene\ufb01ts in 2023 as agreed in individual severance agreements. The total payable in 2023 is amounted to NOK 1 991 thousand. \u00a0
\n\t\t\t\t\tThis amount has been expensed in 2022, but not included in the table above. Depending on the employees duration of employment termination bene\ufb01t \u00a0
\n\t\t\t\t\trepresents severance payment of two or three months contratual pay. \u00a0
\n\t\t\t\t\t4) Imputed share based payment expense: This amount represents calculated cost related to the PSUs granted to the executives, which will be charged to the \u00a0
\n\t\t\t\t\tstatement of \ufb01nancial income in that year. These costs are estimated based on a calculation of fair value measured at grant date. The calculation is performed \u00a0
\n\t\t\t\t\tin accordance with IFRS 2 share-based payments. The actual bene\ufb01t/gain related to the PSUs are dependent on actual amount of PSUs vesting, the share \u00a0
\n\t\t\t\t\tprice at time of exercise and the exercise price. The realised bene\ufb01t/gain at vesting may be different than the imputed costs associated with the grants. \u00a0
Shares in the company are held by the members of the management group 31 December 2022. \u00a0
\n\t\t\t\t\tEmployed with \u00a0
\n\t\t\t\t\tthe Company \u00a0
\n\t\t\t\t\tNumber of \u00a0
\n\t\t\t\t\tNumber of \u00a0
\n\t\t\t\t\tName \u00a0
\n\t\t\t\t\tCurrent position within the Company \u00a0
\n\t\t\t\t\tsince \u00a0
\n\t\t\t\t\tshares 2022 1) \u00a0
\n\t\t\t\t\tshares 2021 1) \u00a0
\n\t\t\t\t\tManagement at year end \u00a0
\n\t\t\t\t\tInterim Chief Excecutive Of\ufb01cer and \u00a0
\n\t\t\t\t\tMalene Brondberg \u00a0
\n\t\t\t\t\tChief Financial Of\ufb01cer \u00a0
\n\t\t\t\t\tFebruary 2018 \u00a0
\n\t\t\t\t\t32 000 \u00a0
\n\t\t\t\t\t21 196 \u00a0
\n\t\t\t\t\tErik Skullerud \u00a0
\n\t\t\t\t\tFormer Chief Excecutive Of\ufb01cer \u00a0
\n\t\t\t\t\tSeptember 2021 \u00a0
\n\t\t\t\t\t3 571 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\tLars Nieba \u00a0
\n\t\t\t\t\tChief Technology Of\ufb01cer \u00a0
\n\t\t\t\t\tDecember 2019 \u00a0
\n\t\t\t\t\t15 713 \u00a0
\n\t\t\t\t\t15 713 \u00a0
\n\t\t\t\t\tJostein Dahle \u00a0
\n\t\t\t\t\tChief Scienti\ufb01c Of\ufb01cer \u00a0
\n\t\t\t\t\tJanuary 2011 \u00a0
\n\t\t\t\t\t212 191 \u00a0
\n\t\t\t\t\t204 958 \u00a0
\n\t\t\t\t\tTotal shares owned by management \u00a0
\n\t\t\t\t\t263 475 \u00a0
\n\t\t\t\t\t241 867 \u00a0
\n\t\t\t\t\t1) Overview includes only management still employed at 31 December 2022. Shareholding including shares held by related parties. \u00a0
Performance Share Units (PSUs) and options held by members of the management on 31 December 2022 \u00a0
\n\t\t\t\t\tManagement has no outstanding PSUs or options as per 31 December 2022\ufffd All PSUs and options held by management have \u00a0
\n\t\t\t\t\tforfeited or been settled\ufffd See note 6\ufffd3\ufffd1 and 6\ufffd3\ufffd3 for more information on the share based payment programs\ufffd \u00a0
6.2 COMPENSATION
FOR LEADERSHIP TEAM MEMBERS \u00a0
This section provides an overview of the members of the compensation committee and an overview of elements in the compensation \u00a0
\n\t\t\t\t\tof the leadership team\ufffd Further information on the compensation of the leadership team members and the board can be found in \u00a0
\n\t\t\t\t\tthe remuneration report\ufffd \u00a0
\n\t\t\t\t\tOverview of the compensation policy \u00a0
\n\t\t\t\t\tNordic Nanovector\u2019s remuneration of the leadership team is proposed by the compensation committee and approved by the board. \u00a0
\n\t\t\t\t\tThe members of the Nordic Nanovector compensation committee were, up until 15 September: \u00a0
\n\t\t\t\t\t\u2022
\n\t\t\t\t\tSolveig Hellebust \u2013 chair \u00a0
\n\t\t\t\t\t\u2022
\n\t\t\t\t\tJoanna Horobin \u00a0
\n\t\t\t\t\t\u2022
\n\t\t\t\t\tJan H\ufffd Egberts \u00a0
\n\t\t\t\t\tThe Compensation Committee played a vital role in the restructuring of the Company and the reduction of staff numbers\ufffd After the \u00a0
\n\t\t\t\t\treduction of the Board on the 15 September, the Compensation Committee\u2019s tasks were moved to the remaining Board. \u00a0
\n\t\t\t\t\tCompensation for leadership team members \u00a0
\n\t\t\t\t\tNordic Nanovector seeks to entertain a performance-oriented culture, where the individual achievement is clearly aligned with \u00a0
\n\t\t\t\t\tthe company\u2019s overall strategic objectives. The company evaluates and rewards the leadership team based on their contributions \u00a0
\n\t\t\t\t\tto the achievement of the corporate priorities set early in the year\ufffd The performance of each member of the leadership team is \u00a0
\n\t\t\t\t\treviewed on an annual basis. \u00a0
\n\t\t\t\t\tNordic Nanovector\u2019s performance-based compensation programme consists of \ufb01ve components: \u00a0
\n\t\t\t\t\t\u2022
\n\t\t\t\t\tbase salary \u00a0
\n\t\t\t\t\t\u2022
\n\t\t\t\t\tpension bene\ufb01ts and \u2013 \u00a0
\n\t\t\t\t\t\u2022
\n\t\t\t\t\tother bene\ufb01ts \u00a0
\n\t\t\t\t\t\u2022
\n\t\t\t\t\tshort-term cash bonus \u00a0
\n\t\t\t\t\t\u2022
\n\t\t\t\t\tlong-term equity award \u00a0
\n\t\t\t\t\tThe board\u2019s view is that these \ufb01ve components best align the interests of the executive leadership team with those of the \u00a0
\n\t\t\t\t\tcompany\u2019s shareholders. This alignment is achieved by keeping a substantial portion of the total compensation allocated to \u00a0
\n\t\t\t\t\t\u201cat-risk\u201d performance-based incentives using short- and long-term incentive compensation\ufffd An appropriate level and mix of \u00a0
\n\t\t\t\t\tcompensation components are determined with independent and relevant compensation data as important input. The guidelines \u00a0
\n\t\t\t\t\tapply to the \ufb01nancial year 2022 and until new guidelines are adopted by the general meeting. \u00a0
\n\t\t\t\t\tFollowing the discontinuation of PARADIGME in July 2022, the annual cash bonus plan for 2022 was cancelled and as result no \u00a0
\n\t\t\t\t\tbonuses was paid out under this plan for the year 2022. \u00a0
6.3 SHARE-BASED
PAYMENTS AND INCENTIVE PROGRAM \u00a0
Accounting policy - Share-based payments \u00a0
\n\t\t\t\t\tThe company operates equity-settled, share based compensation plans, under which the entity receives services from employees \u00a0
\n\t\t\t\t\tand board directors, and as consideration the employees or board members receive an equity instrument (options, performance \u00a0
\n\t\t\t\t\tstock units (PSUs) or restricted stock units (RSUs)) in the company\ufffd Equity-settled share based payments are measured at the fair \u00a0
\n\t\t\t\t\tvalue of the equity instruments at the grant date\ufffd \u00a0
\n\t\t\t\t\tThe fair value of the employee services received in exchange for the grant of the equity instrument are recognised as an expense, \u00a0
\n\t\t\t\t\tbased on the company\u2019s estimate of equity instruments that will eventually vest. The total amount to be expensed is determined \u00a0
\n\t\t\t\t\tby the fair value of the instrument granted, excluding the impact of any non-market service and performance vesting conditions\ufffd \u00a0
\n\t\t\t\t\tThe grant date fair value of the instrument granted is recognised as an expense with a corresponding increase in equity, over \u00a0
\n\t\t\t\t\tthe period that the employees become unconditionally entitled to the equity instrument (vesting period)\ufffd Service and non-market \u00a0
\n\t\t\t\t\tperformance conditions attached to the transactions are not taken into account in determining fair value\ufffd \u00a0
\n\t\t\t\t\tAt the end of each reporting period, the group revises its estimates of the number of equity instruments that are expected to vest \u00a0
\n\t\t\t\t\tbased on the non-market vesting conditions. It recognises the impact of the revision to original estimates, if any, in pro\ufb01t or loss, \u00a0
\n\t\t\t\t\twith a corresponding adjustment to equity. \u00a0
\n\t\t\t\t\tWhen the equity instrument is exercised, the company issues new shares. The proceeds received net of any directly attributable \u00a0
\n\t\t\t\t\ttransaction costs are recognised as share capital (nominal value) and share premium. The company will be liable for social \u00a0
\n\t\t\t\t\tsecurity on the gain from the share based incentive programme. The social security is accrued until the award is exercised/ \u00a0
\n\t\t\t\t\treleased\ufffd The social security is accrued over the corresponding vesting period\ufffd \u00a0
6.3.1 PERFORMANCE
SHARE UNITS (PSUs) \u00a0
Accounting policy \u00a0
\n\t\t\t\t\tVesting of PSUs are dependent on two factors. 50 per cent of the PSUs will vest given that internal performance conditions are \u00a0
\n\t\t\t\t\tmet. The other 50 per cent will vest given that Nordic Nanovector shares deliver a total shareholder return (TSR) above 20 per \u00a0
\n\t\t\t\t\tcent. This leads to a 33 per cent vesting, while a TSR of 60 per cent or higher leads to a vesting of 100 per cent. TSR between 20 \u00a0
\n\t\t\t\t\tand 60 per cent will lead to a linear vesting structure. \u00a0
\n\t\t\t\t\tThe fair value of the granted PSUs with market condition is measured using the Monte-Carlo model. Measurement inputs include \u00a0
\n\t\t\t\t\tshare price on measurement date, exercise price of the instrument, expected volatility, vesting period, expected dividends, the \u00a0
\n\t\t\t\t\trisk-free interest rate and the share price appreciation condition\ufffd The expected volatility is calculated based on the historic data of \u00a0
\n\t\t\t\t\tthe Nordic Nanovector share price that corresponds to the expected life of the PSU\ufffd The Monte-Carlo model simulates future share \u00a0
\n\t\t\t\t\tprices in the risk-neutral framework, which results in simulated payoff of PSU. The average discounted simulated payoff across \u00a0
\n\t\t\t\t\tsimulations is the calculated fair value of one PSU with market condition. The fair value of the granted PSUs with operational \u00a0
\n\t\t\t\t\tperformance is measured using the share price at grant date minus the nominal value of the Nordic Nanovector share\ufffd \u00a0
Overview \u00a0
\n\t\t\t\t\tThe annual general meeting on 28 April 2022 approved to continue the company\u2019s share based incentive programme and \u00a0
\n\t\t\t\t\tauthorised the board of directors to grant up to 1 500 000 PSUs from the date of the annual general meeting in 2022 to the annual \u00a0
\n\t\t\t\t\tgeneral meeting in 2023\ufffd \u00a0
\n\t\t\t\t\tDuring 2022, 934 000 new PSUs have been granted. 2 443 204 PSUs have forfeited during 2022 and 42 675 PSUs was exercised \u00a0
\n\t\t\t\t\tin January 2022. To be able to close down the share-based payment program and reduce administration cost for the program, \u00a0
\n\t\t\t\t\tremaining outstanding PSUs was settled in December 2022. In total NOK 28 000 was paid out to settle remaining outstanding \u00a0
\n\t\t\t\t\tPSUs\ufffd As per 31 December 2022 no PSUs are outstanding\ufffd \u00a0
\n\t\t\t\t\tIn accordance with the resolution at the EGM in December 2017, AGM in May 2018, April 2019, June 2020 and April 2021 and \u00a0
\n\t\t\t\t\t2022, the PSUs are secured by a corresponding number of free-standing warrants. The sole purpose of these warrants is to \u00a0
\n\t\t\t\t\tensure delivery of shares in the company upon exercise of the PSUs. The warrants do not give the PSU holders a right to subscribe \u00a0
\n\t\t\t\t\tfor any additional shares in the company\ufffd See note 6\ufffd2 for more information\ufffd \u00a0
\n\t\t\t\t\tThe PSUs are granted without consideration. The PSUs are non-transferable and will vest three years after the date of grant, \u00a0
\n\t\t\t\t\tsubject to satisfaction of the applicable vesting conditions. Upon vesting, the holder of the PSUs will receive Nordic Nanovector \u00a0
\n\t\t\t\t\tASA shares (if any), with the number of shares issuable determined by multiplying the number of PSUs granted by a factor \u00a0
\n\t\t\t\t\tof between 0 per cent and 100 per cent. Vesting of half of the granted PSUs will be determined by an operational factor and \u00a0
\n\t\t\t\t\tvesting of the other half will be determined by a share price factor (see note 6.2 for more information about how these factors are \u00a0
\n\t\t\t\t\tdetermined). Upon vesting of PSUs the holder of the PSUs will have a right to subscribe for one new share in the company for each \u00a0
\n\t\t\t\t\tvested PSU, at a subscription price per share corresponding to the par value of the company\u2019s shares currently being NOK 0.20. \u00a0
\n\t\t\t\t\tShare based payment expenses related to options and PSU\u2019s are recognised in the income statement and disclosed in note 3.2. \u00a0
Overview of outstanding PSUs \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tWeighted \u00a0
\n\t\t\t\t\tWeighted \u00a0
\n\t\t\t\t\tWeighted \u00a0
\n\t\t\t\t\tWeighted \u00a0
\n\t\t\t\t\taverage \u00a0
\n\t\t\t\t\taverage \u00a0
\n\t\t\t\t\taverage \u00a0
\n\t\t\t\t\taverage \u00a0
\n\t\t\t\t\texercise \u00a0
\n\t\t\t\t\tfair \u00a0
\n\t\t\t\t\texercise \u00a0
\n\t\t\t\t\tfair \u00a0
\n\t\t\t\t\tThe number of PSUs \u00a0
\n\t\t\t\t\tNumber of \u00a0
\n\t\t\t\t\tprice \u00a0
\n\t\t\t\t\tvalue \u00a0
\n\t\t\t\t\tNumber of \u00a0
\n\t\t\t\t\tprice \u00a0
\n\t\t\t\t\tvalue \u00a0
\n\t\t\t\t\tand average exercise prices: \u00a0
\n\t\t\t\t\tPSUs \u00a0
\n\t\t\t\t\tin NOK \u00a0
\n\t\t\t\t\tin NOK \u00a0
\n\t\t\t\t\tPSUs \u00a0
\n\t\t\t\t\tin NOK \u00a0
\n\t\t\t\t\tin NOK \u00a0
\n\t\t\t\t\tBalance at 01\ufffd01 \u00a0
\n\t\t\t\t\t1 580 000 \u00a0
\n\t\t\t\t\t0\ufffd20 \u00a0
\n\t\t\t\t\t18,45 \u00a0
\n\t\t\t\t\t774 750 \u00a0
\n\t\t\t\t\t0\ufffd20 \u00a0
\n\t\t\t\t\t23,85 \u00a0
\n\t\t\t\t\tGranted during the year \u00a0
\n\t\t\t\t\t934 000 \u00a0
\n\t\t\t\t\t0\ufffd20 \u00a0
\n\t\t\t\t\t11,46 \u00a0
\n\t\t\t\t\t1 420 000 \u00a0
\n\t\t\t\t\t0\ufffd20 \u00a0
\n\t\t\t\t\t19,66 \u00a0
\n\t\t\t\t\tExercised or released during the year*) \u00a0
\n\t\t\t\t\t-70 796 \u00a0
\n\t\t\t\t\t0\ufffd20 \u00a0
\n\t\t\t\t\t33,79 \u00a0
\n\t\t\t\t\t-42 611 \u00a0
\n\t\t\t\t\t0\ufffd20 \u00a0
\n\t\t\t\t\t74,91 \u00a0
\n\t\t\t\t\tForfeited \u00a0
\n\t\t\t\t\t-2 443 204 \u00a0
\n\t\t\t\t\t0\ufffd20 \u00a0
\n\t\t\t\t\t15,06 \u00a0
\n\t\t\t\t\t-572 139 \u00a0
\n\t\t\t\t\t0\ufffd20 \u00a0
\n\t\t\t\t\t24,51 \u00a0
\n\t\t\t\t\tBalance at 31\ufffd12 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0\ufffd20 \u00a0
\n\t\t\t\t\t-
\n\t\t\t\t\t1 580 000 \u00a0
\n\t\t\t\t\t0\ufffd20 \u00a0
\n\t\t\t\t\t18,45 \u00a0
\n\t\t\t\t\tHereof vested PSUs \u00a0
\n\t\t\t\t\t-
\n\t\t\t\t\t0
\n\t\t\t\t\tWeighted average remaining \u00a0
\n\t\t\t\t\tyears to vesting \u00a0
\n\t\t\t\t\t-
\n\t\t\t\t\t1,83 \u00a0
\n\t\t\t\t\t*) 42 675 PSUs were exercised in March 2022. Weighted average share price on the time of exercise was NOK 14.57 per share. To be able to terminate \u00a0
\n\t\t\t\t\tthe share based payment programme, 28 121 PSUs earned but not vested were settled for a total payment of NOK 28 000 in December 2022. Weighted \u00a0
\n\t\t\t\t\taverage shareprice on the time of settlement was NOK 1.13 per share. \u00a0
\n\t\t\t\t\tRemaining contractual lifetime of outstanding performance stock units per 31 December \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tWeighted average \u00a0
\n\t\t\t\t\tWeighted average \u00a0
\n\t\t\t\t\tNumber of PSUs
exercise price in NOK \u00a0
\n\t\t\t\t\tNumber of PSUs \u00a0
\n\t\t\t\t\texercise price in NOK \u00a0
\n\t\t\t\t\t0 - 1 year \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t-
\n\t\t\t\t\t213 000 \u00a0
\n\t\t\t\t\t0\ufffd20 \u00a0
\n\t\t\t\t\t1 - 2
years \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t-
\n\t\t\t\t\t428 250 \u00a0
\n\t\t\t\t\t0\ufffd20 \u00a0
\n\t\t\t\t\t2 - 3
years \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t-
\n\t\t\t\t\t938 750 \u00a0
\n\t\t\t\t\t0\ufffd20 \u00a0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t1 580 000 \u00a0
\n\t\t\t\t\t0\ufffd20 \u00a0
\n\t\t\t\t\tThe table below shows input and assumptions that have been used for the calculation of fair value of PSUs \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tDividends (NOK) \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tExpected volatility (%) \u00a0
\n\t\t\t\t\t89\ufffd62% \u00a0
\n\t\t\t\t\t88\ufffd78%-90\ufffd13% \u00a0
\n\t\t\t\t\tExercise price (NOK) \u00a0
\n\t\t\t\t\t0\ufffd2 \u00a0
\n\t\t\t\t\t0\ufffd2 \u00a0
\n\t\t\t\t\tValue weighted average share price \u00a0
\n\t\t\t\t\t14\ufffd51 \u00a0
\n\t\t\t\t\t25\ufffd45 \u00a0
\n\t\t\t\t\tShare price (NOK) \u00a0
\n\t\t\t\t\t13\ufffd44 \u00a0
\n\t\t\t\t\t23\ufffd21 \u00a0
\n\t\t\t\t\tRisk-free interest rate (%) \u00a0
\n\t\t\t\t\t2\ufffd03% \u00a0
\n\t\t\t\t\t0\ufffd71%-1\ufffd03% \u00a0
\n\t\t\t\t\tVesting date \u00a0
\n\t\t\t\t\t3 years \u00a0
\n\t\t\t\t\t3 years \u00a0
6.3.2 RESTRICTED
STOCK UNITS (RSUs) \u00a0
Overview \u00a0
\n\t\t\t\t\tAt the AGM in 2022, the company resolved to issue restricted stock units (RSUs) to board directors who elected to receive all or \u00a0
\n\t\t\t\t\tparts of their remuneration, in the form of RSUs. Each board member must make such election immediately following the AGM \u00a0
\n\t\t\t\t\tresolution i\ufffde\ufffdat the beginning of the board period\ufffd
The RSUs are non-transferable and each RSU gives the right and obligation to \u00a0
\n\t\t\t\t\tacquire one share in the company at a price of NOK 0\ufffd20 per share (corresponding to the nominal value of the shares) subject to \u00a0
\n\t\t\t\t\tsatisfaction of the applicable vesting conditions stated in the RSU agreement. RSUs vest on the \ufb01rst anniversary of the AGM that \u00a0
\n\t\t\t\t\tthey were granted. For the non-US citizens the RSUs shall be settled no later than on the third anniversary of the vesting date. For \u00a0
\n\t\t\t\t\tthe US citizens the RSUs shall as a general rule be settled upon vesting\ufffd \u00a0
\n\t\t\t\t\tThe board directors who elect to receive RSUs, must elect to either (i) receive 100 per cent of the compensation in RSUs, (ii) \u00a0
\n\t\t\t\t\treceive 1/3 of the compensation in cash and 2/3 in RSUs, or (iii) receive 2/3 of the compensation in cash and 1/3 in RSUs. The \u00a0
\n\t\t\t\t\tnumber of RSUs to be granted to the board is calculated as the NOK amount of the RSU opted portion of total compensation to \u00a0
\n\t\t\t\t\tthe board director, divided by the market price for the Nordic Nanovector share. The market price is calculated as volume weighted \u00a0
\n\t\t\t\t\taverage share price the 10 trading days prior to the grant date\ufffd \u00a0
\n\t\t\t\t\tFollowing the AGM in April 2022, 75 393 RSUs were allocated. At 31 December 2022 there are 32 678 RSUs remaining as three \u00a0
\n\t\t\t\t\tboard members have left the board during 2022 after grant\ufffd \u00a0
\n\t\t\t\t\tShare based payment expenses related to RSUs are recognised in the income statement and disclosed in note 3\ufffd1\ufffd \u00a0
As per 31 December 2022 \u00a0
\n\t\t\t\t\tNumber \u00a0
\n\t\t\t\t\tRemuneration \u00a0
\n\t\t\t\t\tAllocation Remuneration \u00a0
\n\t\t\t\t\tNumber of \u00a0
\n\t\t\t\t\tMarket \u00a0
\n\t\t\t\t\tof RSUs
Tot number \u00a0
\n\t\t\t\t\tfor the period \u00a0
\n\t\t\t\t\tbetween for the period \u00a0
\n\t\t\t\t\tRSUs for \u00a0
\n\t\t\t\t\tprice on \u00a0
\n\t\t\t\t\texercised/ of RSUs \u00a0
\n\t\t\t\t\t2022-2023 \u00a0
\n\t\t\t\t\tcash and \u00a0
\n\t\t\t\t\t2022-2023 \u00a0
\n\t\t\t\t\tthe period
grant date7) \u00a0
\n\t\t\t\t\tsettled outstanding \u00a0
\n\t\t\t\t\tName \u00a0
\n\t\t\t\t\tin NOK \u00a0
\n\t\t\t\t\tRSUs \u00a0
\n\t\t\t\t\tin cash \u00a0
\n\t\t\t\t\t2022-2023 \u00a0
\n\t\t\t\t\tin NOK \u00a0
\n\t\t\t\t\tin 20228) 31 Dec 2022 \u00a0
\n\t\t\t\t\tJan H. Egberts1) \u00a0
\n\t\t\t\t\t640 000 \u00a0
\n\t\t\t\t\t1/3 RSU \u00a0
\n\t\t\t\t\t426 667 \u00a0
\n\t\t\t\t\t14 939 \u00a0
\n\t\t\t\t\t14,28 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t39 593 \u00a0
\n\t\t\t\t\tJoanna Horobin2) \u00a0
\n\t\t\t\t\t390 000 \u00a0
\n\t\t\t\t\t1/3 RSU \u00a0
\n\t\t\t\t\t260 000 \u00a0
\n\t\t\t\t\t9 103 \u00a0
\n\t\t\t\t\t14,28 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t13 905 \u00a0
\n\t\t\t\t\tKarin Meyer3) \u00a0
\n\t\t\t\t\t370 000 \u00a0
\n\t\t\t\t\t1/3 RSU \u00a0
\n\t\t\t\t\t246 667 \u00a0
\n\t\t\t\t\t8 636 \u00a0
\n\t\t\t\t\t14,28 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t18 817 \u00a0
\n\t\t\t\t\tFormer members of the board \u00a0
\n\t\t\t\t\tJean-Pierre Bizzari4) \u00a0
\n\t\t\t\t\t370 000 \u00a0
\n\t\t\t\t\t1/3 RSU \u00a0
\n\t\t\t\t\t246 667 \u00a0
\n\t\t\t\t\t8 636 \u00a0
\n\t\t\t\t\t14,28 \u00a0
\n\t\t\t\t\t8 712 \u00a0
\n\t\t\t\t\t-
\n\t\t\t\t\tThomas Ramdahl5) \u00a0
\n\t\t\t\t\t350 000 \u00a0
\n\t\t\t\t\t1/3 RSU \u00a0
\n\t\t\t\t\t233 333 \u00a0
\n\t\t\t\t\t8 169 \u00a0
\n\t\t\t\t\t14,28 \u00a0
\n\t\t\t\t\t3 443 \u00a0
\n\t\t\t\t\t-
\n\t\t\t\t\tSolveig Hellebust6) \u00a0
\n\t\t\t\t\t370 000
100% RSU \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t25 910 \u00a0
\n\t\t\t\t\t14,28 \u00a0
\n\t\t\t\t\t24 797 \u00a0
\n\t\t\t\t\t-
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\t2 490 000 \u00a0
\n\t\t\t\t\t1 413 333 \u00a0
\n\t\t\t\t\t75 393 \u00a0
\n\t\t\t\t\t36 952 \u00a0
\n\t\t\t\t\t72 315 \u00a0
1) NOK 600 000 as chairman of the board, NOK 20 000 as a member of the audit committee and NOK 20 000 as member of the compensation committee. \u00a0
\n\t\t\t\t\t2) NOK 330 000 as board member, NOK 20 000 as member of the audit committee, NOK 20 000 as member of the compensation committee and NOK 20 000 \u00a0
\n\t\t\t\t\tas member of the clinical committee. \u00a0
\n\t\t\t\t\t3) NOK 330 000 as board member and NOK 40 000 as chair of the audit commitee. \u00a0
\n\t\t\t\t\t4) NOK 330 000 as board member and NOK 40 000 as chair of the clinical committee. \u00a0
\n\t\t\t\t\t5) NOK 330 000 as board member and NOK 20,000 as member of the clinical committee. \u00a0
\n\t\t\t\t\t6) NOK 330,000 as board member and NOK 40,000 as chair of the compensation committee. \u00a0
\n\t\t\t\t\t7) The market price is calculated as volume weighted average share price the 10 trading days prior to the date of the AGM on 28 April 2022, i.e. NOK 14.28. \u00a0
\n\t\t\t\t\t8) The company also settled previous board member Rainer Boehm\u2019s 15 824 vested RSUs. See table below for details about the settlement. \u00a0
6.3.3 SHARE
OPTION PROGRAMME \u00a0
Accounting policy \u00a0
\n\t\t\t\t\tThe fair value of the equity instrument granted is measured using the Black-Scholes model\ufffd Measurement inputs include share \u00a0
\n\t\t\t\t\tprice on measurement date, exercise price of the instrument, expected volatility, weighted average expected life of the instruments, \u00a0
\n\t\t\t\t\texpected dividends, and the risk free interest rate\ufffd At last grant of options historic volatility of the Nordic Nanovector share price \u00a0
\n\t\t\t\t\tdid not provide suf\ufb01cient historic data that corresponds to the expected life of the option. The expected volatility was therefore \u00a0
\n\t\t\t\t\testimated based on the volatility of comparable listed companies\ufffd Risk free interest rates should be equal to the expected term of \u00a0
\n\t\t\t\t\tthe option being valued. For the options quoted in NOK, rates from Norges Bank on grant date are used (bonds and certi\ufb01cates). \u00a0
\n\t\t\t\t\tThe rates are interpolated in order to match the expected term\ufffd For calculation of fair value of the options it is assumed that \u00a0
\n\t\t\t\t\texpected exercise is one year after vesting date on all grants except for options granted before March 2015\ufffd For options granted \u00a0
\n\t\t\t\t\tbefore March 2015 expected exercise date is vesting date\ufffd \u00a0
Overview \u00a0
\n\t\t\t\t\tThe share option programme was discontinued in 2017 and no options have been granted since it was discontiuned. Options \u00a0
\n\t\t\t\t\tgranted under the programme will remain valid with its existing terms. In accordance with the resolution at the EGM held on 20 \u00a0
\n\t\t\t\t\tDecember 2017, the options previously granted are secured by a corresponding number of free-standing warrants. The sole \u00a0
\n\t\t\t\t\tpurpose of these warrants is to ensure delivery of shares in the company upon exercise of the options. The warrants do not give \u00a0
\n\t\t\t\t\tthe option holders a right to subscribe for any additional shares in the company\ufffd \u00a0
\n\t\t\t\t\tIt is a condition for vesting that the option holder is an employee of the group at the time of vesting\ufffd Vested options may
be \u00a0
\n\t\t\t\t\texercised in a period of 15 Norwegian business days from the day following the day of the company\u2019s release of its quarterly \u00a0
\n\t\t\t\t\tresults, unless the board resolves otherwise. The options expire seven years from grant date. Share based payment expenses \u00a0
\n\t\t\t\t\trelated to options and PSU\u2019s are recognised in the income statement and disclosed in note 3.2. \u00a0
2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tThe number of employee share \u00a0
\n\t\t\t\t\tNumber of \u00a0
\n\t\t\t\t\tWeighted average \u00a0
\n\t\t\t\t\tNumber of \u00a0
\n\t\t\t\t\tWeighted average \u00a0
\n\t\t\t\t\toptions and average exercise prices \u00a0
\n\t\t\t\t\toptions exercise price in NOK \u00a0
\n\t\t\t\t\toptions exercise price in NOK \u00a0
\n\t\t\t\t\tBalance at 01\ufffd01 \u00a0
\n\t\t\t\t\t676 300 \u00a0
\n\t\t\t\t\t42\ufffd64 \u00a0
\n\t\t\t\t\t1 351 967 \u00a0
\n\t\t\t\t\t40\ufffd74 \u00a0
\n\t\t\t\t\tGranted during the year \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tExercised during the year* \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t-65 900 \u00a0
\n\t\t\t\t\t15\ufffd61 \u00a0
\n\t\t\t\t\tForfeited / cancelled \u00a0
\n\t\t\t\t\t-378 300 \u00a0
\n\t\t\t\t\t32\ufffd70 \u00a0
\n\t\t\t\t\t-609 767 \u00a0
\n\t\t\t\t\t41\ufffd36 \u00a0
\n\t\t\t\t\tBalance at 31\ufffd12 \u00a0
\n\t\t\t\t\t298 000 \u00a0
\n\t\t\t\t\t55\ufffd24 \u00a0
\n\t\t\t\t\t676 300 \u00a0
\n\t\t\t\t\t42\ufffd64 \u00a0
\n\t\t\t\t\tHereof vested options \u00a0
\n\t\t\t\t\t298 000 \u00a0
\n\t\t\t\t\t55\ufffd24 \u00a0
\n\t\t\t\t\t676 300 \u00a0
\n\t\t\t\t\t42\ufffd64 \u00a0
\n\t\t\t\t\t*) Weighted average share price on the time of exercise was NOK 26.41 per share in 2021. \u00a0
Remaining contractual lifetime of outstanding share options per 31 December 2022 \u00a0
\n\t\t\t\t\tNumber of options \u00a0
\n\t\t\t\t\tExcercise price in NOK \u00a0
\n\t\t\t\t\t0 - 1 years \u00a0
\n\t\t\t\t\t298 000 \u00a0
\n\t\t\t\t\t55,24 \u00a0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\t298 000 \u00a0
\n\t\t\t\t\t55,24 \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfSharebasedPaymentArrangementsExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXG6DK30",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact1449": {
"value": "Key sources of estimation uncertainty - critical accounting estimates \u00a0
\n\t\t\t\t\tShare-based payments \u00a0
\n\t\t\t\t\tEquity-settled share-based payments are measured at the fair value of the equity instruments at the grant date\ufffd Calculation of fair \u00a0
\n\t\t\t\t\tvalue involves estimates and assumptions\ufffd Measurement inputs include share price on measurement date, exercise price of the \u00a0
\n\t\t\t\t\tinstrument, expected volatility, weighted average expected life of the instruments, expected dividends, and the risk-free interest \u00a0
\n\t\t\t\t\trate\ufffd At the end of each reporting period, the group revises its estimates of the number of equity instruments that are expected to \u00a0
\n\t\t\t\t\tvest. It recognises the impact of the revision to original estimates, if any, in pro\ufb01t or loss, with a corresponding adjustment to equity. \u00a0
\n\t\t\t\t\tChanges to the estimates may signi\ufb01cantly in\ufb02uence the expense recognised during a period. The assumptions and models used \u00a0
\n\t\t\t\t\tfor estimating fair value for share based payment transactions are disclosed in note 6\ufffd3\ufffd \u00a0
Accounting policy \u00a0
\n\t\t\t\t\tPayroll and related expenses are recognised in the statement of pro\ufb01t and loss in the period which the related costs are incurred \u00a0
\n\t\t\t\t\tor services are provided\ufffd For additional information on calculation of costs related to share based payments as options and PSUs \u00a0
\n\t\t\t\t\tsee note 6\ufffd3, 6\ufffd3\ufffd1 and 6\ufffd3\ufffd3\ufffd \u00a0
Accounting policy - Share-based payments \u00a0
\n\t\t\t\t\tThe company operates equity-settled, share based compensation plans, under which the entity receives services from employees \u00a0
\n\t\t\t\t\tand board directors, and as consideration the employees or board members receive an equity instrument (options, performance \u00a0
\n\t\t\t\t\tstock units (PSUs) or restricted stock units (RSUs)) in the company\ufffd Equity-settled share based payments are measured at the fair \u00a0
\n\t\t\t\t\tvalue of the equity instruments at the grant date\ufffd \u00a0
\n\t\t\t\t\tThe fair value of the employee services received in exchange for the grant of the equity instrument are recognised as an expense, \u00a0
\n\t\t\t\t\tbased on the company\u2019s estimate of equity instruments that will eventually vest. The total amount to be expensed is determined \u00a0
\n\t\t\t\t\tby the fair value of the instrument granted, excluding the impact of any non-market service and performance vesting conditions\ufffd \u00a0
\n\t\t\t\t\tThe grant date fair value of the instrument granted is recognised as an expense with a corresponding increase in equity, over \u00a0
\n\t\t\t\t\tthe period that the employees become unconditionally entitled to the equity instrument (vesting period)\ufffd Service and non-market \u00a0
\n\t\t\t\t\tperformance conditions attached to the transactions are not taken into account in determining fair value\ufffd \u00a0
\n\t\t\t\t\tAt the end of each reporting period, the group revises its estimates of the number of equity instruments that are expected to vest \u00a0
\n\t\t\t\t\tbased on the non-market vesting conditions. It recognises the impact of the revision to original estimates, if any, in pro\ufb01t or loss, \u00a0
\n\t\t\t\t\twith a corresponding adjustment to equity. \u00a0
\n\t\t\t\t\tWhen the equity instrument is exercised, the company issues new shares. The proceeds received net of any directly attributable \u00a0
\n\t\t\t\t\ttransaction costs are recognised as share capital (nominal value) and share premium. The company will be liable for social \u00a0
\n\t\t\t\t\tsecurity on the gain from the share based incentive programme. The social security is accrued until the award is exercised/ \u00a0
\n\t\t\t\t\treleased\ufffd The social security is accrued over the corresponding vesting period\ufffd \u00a0
Accounting policy \u00a0
\n\t\t\t\t\tVesting of PSUs are dependent on two factors. 50 per cent of the PSUs will vest given that internal performance conditions are \u00a0
\n\t\t\t\t\tmet. The other 50 per cent will vest given that Nordic Nanovector shares deliver a total shareholder return (TSR) above 20 per \u00a0
\n\t\t\t\t\tcent. This leads to a 33 per cent vesting, while a TSR of 60 per cent or higher leads to a vesting of 100 per cent. TSR between 20 \u00a0
\n\t\t\t\t\tand 60 per cent will lead to a linear vesting structure. \u00a0
\n\t\t\t\t\tThe fair value of the granted PSUs with market condition is measured using the Monte-Carlo model. Measurement inputs include \u00a0
\n\t\t\t\t\tshare price on measurement date, exercise price of the instrument, expected volatility, vesting period, expected dividends, the \u00a0
\n\t\t\t\t\trisk-free interest rate and the share price appreciation condition\ufffd The expected volatility is calculated based on the historic data of \u00a0
\n\t\t\t\t\tthe Nordic Nanovector share price that corresponds to the expected life of the PSU\ufffd The Monte-Carlo model simulates future share \u00a0
\n\t\t\t\t\tprices in the risk-neutral framework, which results in simulated payoff of PSU. The average discounted simulated payoff across \u00a0
\n\t\t\t\t\tsimulations is the calculated fair value of one PSU with market condition. The fair value of the granted PSUs with operational \u00a0
\n\t\t\t\t\tperformance is measured using the share price at grant date minus the nominal value of the Nordic Nanovector share\ufffd \u00a0
Accounting policy \u00a0
\n\t\t\t\t\tThe fair value of the granted RSUs without market condition is measured using the share price at grant date. \u00a0
Accounting policy \u00a0
\n\t\t\t\t\tThe fair value of the equity instrument granted is measured using the Black-Scholes model\ufffd Measurement inputs include share \u00a0
\n\t\t\t\t\tprice on measurement date, exercise price of the instrument, expected volatility, weighted average expected life of the instruments, \u00a0
\n\t\t\t\t\texpected dividends, and the risk free interest rate\ufffd At last grant of options historic volatility of the Nordic Nanovector share price \u00a0
\n\t\t\t\t\tdid not provide suf\ufb01cient historic data that corresponds to the expected life of the option. The expected volatility was therefore \u00a0
\n\t\t\t\t\testimated based on the volatility of comparable listed companies\ufffd Risk free interest rates should be equal to the expected term of \u00a0
\n\t\t\t\t\tthe option being valued. For the options quoted in NOK, rates from Norges Bank on grant date are used (bonds and certi\ufb01cates). \u00a0
\n\t\t\t\t\tThe rates are interpolated in order to match the expected term\ufffd For calculation of fair value of the options it is assumed that \u00a0
\n\t\t\t\t\texpected exercise is one year after vesting date on all grants except for options granted before March 2015\ufffd For options granted \u00a0
\n\t\t\t\t\tbefore March 2015 expected exercise date is vesting date\ufffd \u00a0
",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForSharebasedPaymentTransactionsExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXG6DK30",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact1455": {
"value": "3.1 OTHER
OPERATING EXPENSES \u00a0
Accounting policy \u00a0
\n\t\t\t\t\tOther operating expenses are recognised in the statement of pro\ufb01t and loss in the period which the related costs are incurred or \u00a0
\n\t\t\t\t\tservices are provided\ufffd For additional information on calculation of costs related to share based payments as RSUs see note 6\ufffd3 \u00a0
\n\t\t\t\t\tand 6\ufffd3\ufffd2\ufffd \u00a0
PARENT \u00a0
\n\t\t\t\t\tGROUP \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\tNote \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t(Amounts in NOK 1 000) \u00a0
\n\t\t\t\t\t313 023 \u00a0
\n\t\t\t\t\t197 869
Research and development costs \u00a0
\n\t\t\t\t\t3\ufffd5 \u00a0
\n\t\t\t\t\t202 541 \u00a0
\n\t\t\t\t\t317 981 \u00a0
\n\t\t\t\t\t-4 725 \u00a0
\n\t\t\t\t\t-4 589
Government grants \u00a0
\n\t\t\t\t\t3\ufffd3 \u00a0
\n\t\t\t\t\t-4 589 \u00a0
\n\t\t\t\t\t-4 725 \u00a0
\n\t\t\t\t\t1 279 \u00a0
\n\t\t\t\t\t907 Cost of share based payment (RSUs) \u00a0
\n\t\t\t\t\t6\ufffd3 \u00a0
\n\t\t\t\t\t907 \u00a0
\n\t\t\t\t\t1 279 \u00a0
\n\t\t\t\t\t64 571 \u00a0
\n\t\t\t\t\t62 340
Charges from group companies \u00a0
\n\t\t\t\t\t8\ufffd2 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t22 395 \u00a0
\n\t\t\t\t\t26 849
Other administrative costs \u00a0
\n\t\t\t\t\t28 773 \u00a0
\n\t\t\t\t\t24 890 \u00a0
\n\t\t\t\t\t396 543 \u00a0
\n\t\t\t\t\t283 376
Total other operating expenses \u00a0
\n\t\t\t\t\t227 632 \u00a0
\n\t\t\t\t\t339 425 \u00a0
\n\t\t\t\t\tOther administrative costs include NOK 7.2 million in expenses directly related to the proposed merger with APIM Therapeutics \u00a0
\n\t\t\t\t\tAS, which was voted down on the EGM in December 2022 \u00a0
3.5 RESEARCH
AND DEVELOPMENT EXPENSES \u00a0
Accounting policy \u00a0
\n\t\t\t\t\tThe group\u2019s products are still in the research and development phase, and there are no revenue from sales of products yet. \u00a0
\n\t\t\t\t\tExpenditure on research activities is recognised as an expense in the period in which it is incurred. Internal development costs \u00a0
\n\t\t\t\t\trelated to the group\u2019s development of products are recognised in the income statement in the year incurred unless it meets the \u00a0
\n\t\t\t\t\tasset recognition criteria of IAS 38 \u201cIntangible Assets\u201d\ufffd An internally generated asset arising from the development phase of a \u00a0
\n\t\t\t\t\tresearch and development project is recognised if, and only if, all of the following has been demonstrated: \u00a0
\n\t\t\t\t\t\u25cf Technical feasibility of completing the intangible asset so that it will be available for use or sale. \u00a0
\n\t\t\t\t\t\u25cf The intention to complete the intangible asset and use or sell it. \u00a0
\n\t\t\t\t\t\u25cf The ability to use or sell the intangible asset. \u00a0
\n\t\t\t\t\t\u25cf How the intangible asset will generate probable future economic bene\ufb01ts. \u00a0
\n\t\t\t\t\t\u25cf The availability of adequate technical, \ufb01nancial and other resources to complete the development and use or sell the intangible asset. \u00a0
\n\t\t\t\t\t\u25cf The ability to measure reliably the expenditure attributable to the intangible asset during its development. \u00a0
\n\t\t\t\t\tUncertainties related to the regulatory approval process and results from ongoing clinical trials, generally, indicate that the criteria \u00a0
\n\t\t\t\t\tare not met until the time when marketing authorisation is obtained from relevant regulatory authorities. The group has currently \u00a0
\n\t\t\t\t\tno development expenditure that quali\ufb01es for recognition as an asset under IAS 38. \u00a0
\n\t\t\t\t\tResearch and development expenses are presented net, after deduction of government grants\ufffd \u00a0
Research and development expenses \u00a0
\n\t\t\t\t\tCost related to research and development is expensed. During the \ufb01nancial year 2022 expenses for research and development \u00a0
\n\t\t\t\t\twere NOK 247.3
million whereas, NOK 202.5 million is classi\ufb01ed as other operating expenses, NOK 3.5 is classi\ufb01ed as depreciation \u00a0
\n\t\t\t\t\tand NOK 41.3 million is classi\ufb01ed as payroll. In 2021 the research and development expenses were NOK 375.0 million whereas \u00a0
\n\t\t\t\t\tNOK 318.0 million is classi\ufb01ed as operating expenses, NOK 8.8 is classi\ufb01ed as depreciation and NOK 48.3 million is classi\ufb01ed \u00a0
\n\t\t\t\t\tas payroll respectively\ufffd Research and development expenses above are presented as gross amounts, before deduction of \u00a0
\n\t\t\t\t\tgovernment grants\ufffd Total cost does not include cost related to share-based payments\ufffd See note 3\ufffd3 for more information about \u00a0
\n\t\t\t\t\tgovernment grants presented as a reduction of operating costs\ufffd \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfOtherOperatingExpenseExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXG6DK30",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact1461": {
"value": "3.1 OTHER
OPERATING EXPENSES \u00a0
Accounting policy \u00a0
\n\t\t\t\t\tOther operating expenses are recognised in the statement of pro\ufb01t and loss in the period which the related costs are incurred or \u00a0
\n\t\t\t\t\tservices are provided\ufffd For additional information on calculation of costs related to share based payments as RSUs see note 6\ufffd3 \u00a0
\n\t\t\t\t\tand 6\ufffd3\ufffd2\ufffd \u00a0
PARENT \u00a0
\n\t\t\t\t\tGROUP \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\tNote \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t(Amounts in NOK 1 000) \u00a0
\n\t\t\t\t\t313 023 \u00a0
\n\t\t\t\t\t197 869
Research and development costs \u00a0
\n\t\t\t\t\t3\ufffd5 \u00a0
\n\t\t\t\t\t202 541 \u00a0
\n\t\t\t\t\t317 981 \u00a0
\n\t\t\t\t\t-4 725 \u00a0
\n\t\t\t\t\t-4 589
Government grants \u00a0
\n\t\t\t\t\t3\ufffd3 \u00a0
\n\t\t\t\t\t-4 589 \u00a0
\n\t\t\t\t\t-4 725 \u00a0
\n\t\t\t\t\t1 279 \u00a0
\n\t\t\t\t\t907 Cost of share based payment (RSUs) \u00a0
\n\t\t\t\t\t6\ufffd3 \u00a0
\n\t\t\t\t\t907 \u00a0
\n\t\t\t\t\t1 279 \u00a0
\n\t\t\t\t\t64 571 \u00a0
\n\t\t\t\t\t62 340
Charges from group companies \u00a0
\n\t\t\t\t\t8\ufffd2 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t22 395 \u00a0
\n\t\t\t\t\t26 849
Other administrative costs \u00a0
\n\t\t\t\t\t28 773 \u00a0
\n\t\t\t\t\t24 890 \u00a0
\n\t\t\t\t\t396 543 \u00a0
\n\t\t\t\t\t283 376
Total other operating expenses \u00a0
\n\t\t\t\t\t227 632 \u00a0
\n\t\t\t\t\t339 425 \u00a0
\n\t\t\t\t\tOther administrative costs include NOK 7.2 million in expenses directly related to the proposed merger with APIM Therapeutics \u00a0
\n\t\t\t\t\tAS, which was voted down on the EGM in December 2022 \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfGeneralAndAdministrativeExpenseExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXG6DK30",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact1464": {
"value": "3.1 OTHER
OPERATING EXPENSES \u00a0
Accounting policy \u00a0
\n\t\t\t\t\tOther operating expenses are recognised in the statement of pro\ufb01t and loss in the period which the related costs are incurred or \u00a0
\n\t\t\t\t\tservices are provided\ufffd For additional information on calculation of costs related to share based payments as RSUs see note 6\ufffd3 \u00a0
\n\t\t\t\t\tand 6\ufffd3\ufffd2\ufffd \u00a0
PARENT \u00a0
\n\t\t\t\t\tGROUP \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\tNote \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t(Amounts in NOK 1 000) \u00a0
\n\t\t\t\t\t313 023 \u00a0
\n\t\t\t\t\t197 869
Research and development costs \u00a0
\n\t\t\t\t\t3\ufffd5 \u00a0
\n\t\t\t\t\t202 541 \u00a0
\n\t\t\t\t\t317 981 \u00a0
\n\t\t\t\t\t-4 725 \u00a0
\n\t\t\t\t\t-4 589
Government grants \u00a0
\n\t\t\t\t\t3\ufffd3 \u00a0
\n\t\t\t\t\t-4 589 \u00a0
\n\t\t\t\t\t-4 725 \u00a0
\n\t\t\t\t\t1 279 \u00a0
\n\t\t\t\t\t907 Cost of share based payment (RSUs) \u00a0
\n\t\t\t\t\t6\ufffd3 \u00a0
\n\t\t\t\t\t907 \u00a0
\n\t\t\t\t\t1 279 \u00a0
\n\t\t\t\t\t64 571 \u00a0
\n\t\t\t\t\t62 340
Charges from group companies \u00a0
\n\t\t\t\t\t8\ufffd2 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t22 395 \u00a0
\n\t\t\t\t\t26 849
Other administrative costs \u00a0
\n\t\t\t\t\t28 773 \u00a0
\n\t\t\t\t\t24 890 \u00a0
\n\t\t\t\t\t396 543 \u00a0
\n\t\t\t\t\t283 376
Total other operating expenses \u00a0
\n\t\t\t\t\t227 632 \u00a0
\n\t\t\t\t\t339 425 \u00a0
\n\t\t\t\t\tOther administrative costs include NOK 7.2 million in expenses directly related to the proposed merger with APIM Therapeutics \u00a0
\n\t\t\t\t\tAS, which was voted down on the EGM in December 2022 \u00a0
3.3 GOVERNMENT
GRANTS \u00a0
Accounting policy \u00a0
\n\t\t\t\t\tGovernment grants are recognised where there is reasonable assurance that the grant will be received and all attached conditions \u00a0
\n\t\t\t\t\twill be complied with. The grant is recognised in the income statement in the same period as the related costs, which are presented \u00a0
\n\t\t\t\t\tnet\ufffd \u00a0
\n\t\t\t\t\tGovernment grants are normally related to either reimbursements of employee costs and classi\ufb01ed as a reduction of payroll and \u00a0
\n\t\t\t\t\trelated expenses or related to other operating activities and thus classi\ufb01ed as a reduction of other operating expenses. \u00a0
PARENT \u00a0
\n\t\t\t\t\tGROUP \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\tNote \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t(Amounts in NOK 1 000) \u00a0
\n\t\t\t\t\tGovernment grants have been recognised in the \u00a0
\n\t\t\t\t\tstatement of pro\ufb01t or loss as a reduction for the \u00a0
\n\t\t\t\t\trelated expenses with the following amounts: \u00a0
\n\t\t\t\t\t452 \u00a0
\n\t\t\t\t\t211 \u00a0
\n\t\t\t\t\tPayroll and related expenses \u00a0
\n\t\t\t\t\t3\ufffd2 \u00a0
\n\t\t\t\t\t211 \u00a0
\n\t\t\t\t\t452 \u00a0
\n\t\t\t\t\t4 725 \u00a0
\n\t\t\t\t\t4 589 \u00a0
\n\t\t\t\t\tOther operating expenses \u00a0
\n\t\t\t\t\t3\ufffd1 \u00a0
\n\t\t\t\t\t4 589 \u00a0
\n\t\t\t\t\t4 725 \u00a0
\n\t\t\t\t\t5 177 \u00a0
\n\t\t\t\t\t4 800 \u00a0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\t4 800 \u00a0
\n\t\t\t\t\t5 177 \u00a0
\n\t\t\t\t\tGrants receivable are detailed as follows: \u00a0
\n\t\t\t\t\t4 750 \u00a0
\n\t\t\t\t\t4 750 \u00a0
\n\t\t\t\t\tGrants from SkatteFUNN \u00a0
\n\t\t\t\t\t4 750 \u00a0
\n\t\t\t\t\t4 750 \u00a0
\n\t\t\t\t\t4 750 \u00a0
\n\t\t\t\t\t4 750 \u00a0
\n\t\t\t\t\tTotal 31\ufffd12 \u00a0
\n\t\t\t\t\t3\ufffd4 \u00a0
\n\t\t\t\t\t4 750 \u00a0
\n\t\t\t\t\t4 750 \u00a0
\n\t\t\t\t\t1) Research and development projects have been approved for SkatteFUNN grants through 2023. For the \ufb01nancial period ended 31 December 2022, \u00a0
\n\t\t\t\t\tthe company has recognised NOK 4.8 million compared to NOK 4.8 million for the same period in 2021. The amount was recognised partly as a \u00a0
\n\t\t\t\t\treduction of payroll and related expenses and partly as a reduction of other operating expenses. \u00a0
\n\t\t\t\t\t2) The company has \ufb01nalised the discovery phase of its Alpha37 R&D collaboration with Orano Med. Alpha37 leverages Nordic Nanovector\u2019s chimeric \u00a0
\n\t\t\t\t\tanti-CD37 antibody, NNV003, chelated with the alpha particle generating radionuclide 212Pb; for potential treatment of NHL and chronic lymphocytic \u00a0
\n\t\t\t\t\tleukemia (CLL). For the \ufb01nancial period ended 31 December 2021, the company recognised NOK 0.4 million partly as a reduction of payroll and \u00a0
\n\t\t\t\t\trelated expenses and other operating expenses. \u00a0
\n\t\t\t\t\t3) For the \ufb01nancial period ended 31 December 2022, the company has recognised NOK 0.1 million compared to NOK 0.0 million for the same period in \u00a0
\n\t\t\t\t\t2021, for grants received for a collaboration project with Thor Medical. \u00a0
3.5 RESEARCH
AND DEVELOPMENT EXPENSES \u00a0
Accounting policy \u00a0
\n\t\t\t\t\tThe group\u2019s products are still in the research and development phase, and there are no revenue from sales of products yet. \u00a0
\n\t\t\t\t\tExpenditure on research activities is recognised as an expense in the period in which it is incurred. Internal development costs \u00a0
\n\t\t\t\t\trelated to the group\u2019s development of products are recognised in the income statement in the year incurred unless it meets the \u00a0
\n\t\t\t\t\tasset recognition criteria of IAS 38 \u201cIntangible Assets\u201d\ufffd An internally generated asset arising from the development phase of a \u00a0
\n\t\t\t\t\tresearch and development project is recognised if, and only if, all of the following has been demonstrated: \u00a0
\n\t\t\t\t\t\u25cf Technical feasibility of completing the intangible asset so that it will be available for use or sale. \u00a0
\n\t\t\t\t\t\u25cf The intention to complete the intangible asset and use or sell it. \u00a0
\n\t\t\t\t\t\u25cf The ability to use or sell the intangible asset. \u00a0
\n\t\t\t\t\t\u25cf How the intangible asset will generate probable future economic bene\ufb01ts. \u00a0
\n\t\t\t\t\t\u25cf The availability of adequate technical, \ufb01nancial and other resources to complete the development and use or sell the intangible asset. \u00a0
\n\t\t\t\t\t\u25cf The ability to measure reliably the expenditure attributable to the intangible asset during its development. \u00a0
\n\t\t\t\t\tUncertainties related to the regulatory approval process and results from ongoing clinical trials, generally, indicate that the criteria \u00a0
\n\t\t\t\t\tare not met until the time when marketing authorisation is obtained from relevant regulatory authorities. The group has currently \u00a0
\n\t\t\t\t\tno development expenditure that quali\ufb01es for recognition as an asset under IAS 38. \u00a0
\n\t\t\t\t\tResearch and development expenses are presented net, after deduction of government grants\ufffd \u00a0
Research and development expenses \u00a0
\n\t\t\t\t\tCost related to research and development is expensed. During the \ufb01nancial year 2022 expenses for research and development \u00a0
\n\t\t\t\t\twere NOK 247.3
million whereas, NOK 202.5 million is classi\ufb01ed as other operating expenses, NOK 3.5 is classi\ufb01ed as depreciation \u00a0
\n\t\t\t\t\tand NOK 41.3 million is classi\ufb01ed as payroll. In 2021 the research and development expenses were NOK 375.0 million whereas \u00a0
\n\t\t\t\t\tNOK 318.0 million is classi\ufb01ed as operating expenses, NOK 8.8 is classi\ufb01ed as depreciation and NOK 48.3 million is classi\ufb01ed \u00a0
\n\t\t\t\t\tas payroll respectively\ufffd Research and development expenses above are presented as gross amounts, before deduction of \u00a0
\n\t\t\t\t\tgovernment grants\ufffd Total cost does not include cost related to share-based payments\ufffd See note 3\ufffd3 for more information about \u00a0
\n\t\t\t\t\tgovernment grants presented as a reduction of operating costs\ufffd \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfOtherOperatingIncomeExpenseExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXG6DK30",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact1473": {
"value": "3.1 OTHER
OPERATING EXPENSES \u00a0
Accounting policy \u00a0
\n\t\t\t\t\tOther operating expenses are recognised in the statement of pro\ufb01t and loss in the period which the related costs are incurred or \u00a0
\n\t\t\t\t\tservices are provided\ufffd For additional information on calculation of costs related to share based payments as RSUs see note 6\ufffd3 \u00a0
\n\t\t\t\t\tand 6\ufffd3\ufffd2\ufffd \u00a0
PARENT \u00a0
\n\t\t\t\t\tGROUP \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\tNote \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t(Amounts in NOK 1 000) \u00a0
\n\t\t\t\t\t313 023 \u00a0
\n\t\t\t\t\t197 869
Research and development costs \u00a0
\n\t\t\t\t\t3\ufffd5 \u00a0
\n\t\t\t\t\t202 541 \u00a0
\n\t\t\t\t\t317 981 \u00a0
\n\t\t\t\t\t-4 725 \u00a0
\n\t\t\t\t\t-4 589
Government grants \u00a0
\n\t\t\t\t\t3\ufffd3 \u00a0
\n\t\t\t\t\t-4 589 \u00a0
\n\t\t\t\t\t-4 725 \u00a0
\n\t\t\t\t\t1 279 \u00a0
\n\t\t\t\t\t907 Cost of share based payment (RSUs) \u00a0
\n\t\t\t\t\t6\ufffd3 \u00a0
\n\t\t\t\t\t907 \u00a0
\n\t\t\t\t\t1 279 \u00a0
\n\t\t\t\t\t64 571 \u00a0
\n\t\t\t\t\t62 340
Charges from group companies \u00a0
\n\t\t\t\t\t8\ufffd2 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t22 395 \u00a0
\n\t\t\t\t\t26 849
Other administrative costs \u00a0
\n\t\t\t\t\t28 773 \u00a0
\n\t\t\t\t\t24 890 \u00a0
\n\t\t\t\t\t396 543 \u00a0
\n\t\t\t\t\t283 376
Total other operating expenses \u00a0
\n\t\t\t\t\t227 632 \u00a0
\n\t\t\t\t\t339 425 \u00a0
\n\t\t\t\t\tOther administrative costs include NOK 7.2 million in expenses directly related to the proposed merger with APIM Therapeutics \u00a0
\n\t\t\t\t\tAS, which was voted down on the EGM in December 2022 \u00a0
Accounting policy \u00a0
\n\t\t\t\t\tGovernment grants are recognised where there is reasonable assurance that the grant will be received and all attached conditions \u00a0
\n\t\t\t\t\twill be complied with. The grant is recognised in the income statement in the same period as the related costs, which are presented \u00a0
\n\t\t\t\t\tnet\ufffd \u00a0
\n\t\t\t\t\tGovernment grants are normally related to either reimbursements of employee costs and classi\ufb01ed as a reduction of payroll and \u00a0
\n\t\t\t\t\trelated expenses or related to other operating activities and thus classi\ufb01ed as a reduction of other operating expenses. \u00a0
PARENT \u00a0
\n\t\t\t\t\tGROUP \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\tNote \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t(Amounts in NOK 1 000) \u00a0
\n\t\t\t\t\tGovernment grants have been recognised in the \u00a0
\n\t\t\t\t\tstatement of pro\ufb01t or loss as a reduction for the \u00a0
\n\t\t\t\t\trelated expenses with the following amounts: \u00a0
\n\t\t\t\t\t452 \u00a0
\n\t\t\t\t\t211 \u00a0
\n\t\t\t\t\tPayroll and related expenses \u00a0
\n\t\t\t\t\t3\ufffd2 \u00a0
\n\t\t\t\t\t211 \u00a0
\n\t\t\t\t\t452 \u00a0
\n\t\t\t\t\t4 725 \u00a0
\n\t\t\t\t\t4 589 \u00a0
\n\t\t\t\t\tOther operating expenses \u00a0
\n\t\t\t\t\t3\ufffd1 \u00a0
\n\t\t\t\t\t4 589 \u00a0
\n\t\t\t\t\t4 725 \u00a0
\n\t\t\t\t\t5 177 \u00a0
\n\t\t\t\t\t4 800 \u00a0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\t4 800 \u00a0
\n\t\t\t\t\t5 177 \u00a0
\n\t\t\t\t\tGrants receivable are detailed as follows: \u00a0
\n\t\t\t\t\t4 750 \u00a0
\n\t\t\t\t\t4 750 \u00a0
\n\t\t\t\t\tGrants from SkatteFUNN \u00a0
\n\t\t\t\t\t4 750 \u00a0
\n\t\t\t\t\t4 750 \u00a0
\n\t\t\t\t\t4 750 \u00a0
\n\t\t\t\t\t4 750 \u00a0
\n\t\t\t\t\tTotal 31\ufffd12 \u00a0
\n\t\t\t\t\t3\ufffd4 \u00a0
\n\t\t\t\t\t4 750 \u00a0
\n\t\t\t\t\t4 750 \u00a0
\n\t\t\t\t\t1) Research and development projects have been approved for SkatteFUNN grants through 2023. For the \ufb01nancial period ended 31 December 2022, \u00a0
\n\t\t\t\t\tthe company has recognised NOK 4.8 million compared to NOK 4.8 million for the same period in 2021. The amount was recognised partly as a \u00a0
\n\t\t\t\t\treduction of payroll and related expenses and partly as a reduction of other operating expenses. \u00a0
\n\t\t\t\t\t2) The company has \ufb01nalised the discovery phase of its Alpha37 R&D collaboration with Orano Med. Alpha37 leverages Nordic Nanovector\u2019s chimeric \u00a0
\n\t\t\t\t\tanti-CD37 antibody, NNV003, chelated with the alpha particle generating radionuclide 212Pb; for potential treatment of NHL and chronic lymphocytic \u00a0
\n\t\t\t\t\tleukemia (CLL). For the \ufb01nancial period ended 31 December 2021, the company recognised NOK 0.4 million partly as a reduction of payroll and \u00a0
\n\t\t\t\t\trelated expenses and other operating expenses. \u00a0
\n\t\t\t\t\t3) For the \ufb01nancial period ended 31 December 2022, the company has recognised NOK 0.1 million compared to NOK 0.0 million for the same period in \u00a0
\n\t\t\t\t\t2021, for grants received for a collaboration project with Thor Medical. \u00a0
3.5 RESEARCH
AND DEVELOPMENT EXPENSES \u00a0
Accounting policy \u00a0
\n\t\t\t\t\tThe group\u2019s products are still in the research and development phase, and there are no revenue from sales of products yet. \u00a0
\n\t\t\t\t\tExpenditure on research activities is recognised as an expense in the period in which it is incurred. Internal development costs \u00a0
\n\t\t\t\t\trelated to the group\u2019s development of products are recognised in the income statement in the year incurred unless it meets the \u00a0
\n\t\t\t\t\tasset recognition criteria of IAS 38 \u201cIntangible Assets\u201d\ufffd An internally generated asset arising from the development phase of a \u00a0
\n\t\t\t\t\tresearch and development project is recognised if, and only if, all of the following has been demonstrated: \u00a0
\n\t\t\t\t\t\u25cf Technical feasibility of completing the intangible asset so that it will be available for use or sale. \u00a0
\n\t\t\t\t\t\u25cf The intention to complete the intangible asset and use or sell it. \u00a0
\n\t\t\t\t\t\u25cf The ability to use or sell the intangible asset. \u00a0
\n\t\t\t\t\t\u25cf How the intangible asset will generate probable future economic bene\ufb01ts. \u00a0
\n\t\t\t\t\t\u25cf The availability of adequate technical, \ufb01nancial and other resources to complete the development and use or sell the intangible asset. \u00a0
\n\t\t\t\t\t\u25cf The ability to measure reliably the expenditure attributable to the intangible asset during its development. \u00a0
\n\t\t\t\t\tUncertainties related to the regulatory approval process and results from ongoing clinical trials, generally, indicate that the criteria \u00a0
\n\t\t\t\t\tare not met until the time when marketing authorisation is obtained from relevant regulatory authorities. The group has currently \u00a0
\n\t\t\t\t\tno development expenditure that quali\ufb01es for recognition as an asset under IAS 38. \u00a0
\n\t\t\t\t\tResearch and development expenses are presented net, after deduction of government grants\ufffd \u00a0
Research and development expenses \u00a0
\n\t\t\t\t\tCost related to research and development is expensed. During the \ufb01nancial year 2022 expenses for research and development \u00a0
\n\t\t\t\t\twere NOK 247.3
million whereas, NOK 202.5 million is classi\ufb01ed as other operating expenses, NOK 3.5 is classi\ufb01ed as depreciation \u00a0
\n\t\t\t\t\tand NOK 41.3 million is classi\ufb01ed as payroll. In 2021 the research and development expenses were NOK 375.0 million whereas \u00a0
\n\t\t\t\t\tNOK 318.0 million is classi\ufb01ed as operating expenses, NOK 8.8 is classi\ufb01ed as depreciation and NOK 48.3 million is classi\ufb01ed \u00a0
\n\t\t\t\t\tas payroll respectively\ufffd Research and development expenses above are presented as gross amounts, before deduction of \u00a0
\n\t\t\t\t\tgovernment grants\ufffd Total cost does not include cost related to share-based payments\ufffd See note 3\ufffd3 for more information about \u00a0
\n\t\t\t\t\tgovernment grants presented as a reduction of operating costs\ufffd \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfOtherOperatingIncomeExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXG6DK30",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact1481": {
"value": "3.1 OTHER
OPERATING EXPENSES \u00a0
Accounting policy \u00a0
\n\t\t\t\t\tOther operating expenses are recognised in the statement of pro\ufb01t and loss in the period which the related costs are incurred or \u00a0
\n\t\t\t\t\tservices are provided\ufffd For additional information on calculation of costs related to share based payments as RSUs see note 6\ufffd3 \u00a0
\n\t\t\t\t\tand 6\ufffd3\ufffd2\ufffd \u00a0
PARENT \u00a0
\n\t\t\t\t\tGROUP \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\tNote \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t(Amounts in NOK 1 000) \u00a0
\n\t\t\t\t\t313 023 \u00a0
\n\t\t\t\t\t197 869
Research and development costs \u00a0
\n\t\t\t\t\t3\ufffd5 \u00a0
\n\t\t\t\t\t202 541 \u00a0
\n\t\t\t\t\t317 981 \u00a0
\n\t\t\t\t\t-4 725 \u00a0
\n\t\t\t\t\t-4 589
Government grants \u00a0
\n\t\t\t\t\t3\ufffd3 \u00a0
\n\t\t\t\t\t-4 589 \u00a0
\n\t\t\t\t\t-4 725 \u00a0
\n\t\t\t\t\t1 279 \u00a0
\n\t\t\t\t\t907 Cost of share based payment (RSUs) \u00a0
\n\t\t\t\t\t6\ufffd3 \u00a0
\n\t\t\t\t\t907 \u00a0
\n\t\t\t\t\t1 279 \u00a0
\n\t\t\t\t\t64 571 \u00a0
\n\t\t\t\t\t62 340
Charges from group companies \u00a0
\n\t\t\t\t\t8\ufffd2 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t22 395 \u00a0
\n\t\t\t\t\t26 849
Other administrative costs \u00a0
\n\t\t\t\t\t28 773 \u00a0
\n\t\t\t\t\t24 890 \u00a0
\n\t\t\t\t\t396 543 \u00a0
\n\t\t\t\t\t283 376
Total other operating expenses \u00a0
\n\t\t\t\t\t227 632 \u00a0
\n\t\t\t\t\t339 425 \u00a0
\n\t\t\t\t\tOther administrative costs include NOK 7.2 million in expenses directly related to the proposed merger with APIM Therapeutics \u00a0
\n\t\t\t\t\tAS, which was voted down on the EGM in December 2022 \u00a0
3.2 PAYROLL
AND RELATED EXPENSES \u00a0
PARENT \u00a0
\n\t\t\t\t\tGROUP \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t(Amounts in NOK 1 000) \u00a0
\n\t\t\t\t\tNote \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t28 250 \u00a0
\n\t\t\t\t\t27 129 \u00a0
\n\t\t\t\t\tSalaries and bonus \u00a0
\n\t\t\t\t\t6\ufffd2, 6\ufffd3 \u00a0
\n\t\t\t\t\t68 760 \u00a0
\n\t\t\t\t\t71 017 \u00a0
\n\t\t\t\t\t3 895 \u00a0
\n\t\t\t\t\t3 984 \u00a0
\n\t\t\t\t\tSocial security tax \u00a0
\n\t\t\t\t\t8 676 \u00a0
\n\t\t\t\t\t8 575 \u00a0
\n\t\t\t\t\t1 673 \u00a0
\n\t\t\t\t\t1 701 \u00a0
\n\t\t\t\t\tPension expense \u00a0
\n\t\t\t\t\t6\ufffd5 \u00a0
\n\t\t\t\t\t4 907 \u00a0
\n\t\t\t\t\t3 165 \u00a0
\n\t\t\t\t\t2 495 \u00a0
\n\t\t\t\t\t-1 487 \u00a0
\n\t\t\t\t\tShare based payment employees \u00a0
\n\t\t\t\t\t6\ufffd3 \u00a0
\n\t\t\t\t\t-4 209 \u00a0
\n\t\t\t\t\t6 313 \u00a0
\n\t\t\t\t\t539 \u00a0
\n\t\t\t\t\t-869 \u00a0
\n\t\t\t\t\tAccrued employer's social security on share based payment \u00a0
\n\t\t\t\t\t6\ufffd3 \u00a0
\n\t\t\t\t\t-1 640 \u00a0
\n\t\t\t\t\t1 000 \u00a0
\n\t\t\t\t\t850 \u00a0
\n\t\t\t\t\t498 \u00a0
\n\t\t\t\t\tOther \u00a0
\n\t\t\t\t\t2 244 \u00a0
\n\t\t\t\t\t2 020 \u00a0
\n\t\t\t\t\t-452 \u00a0
\n\t\t\t\t\t-211 \u00a0
\n\t\t\t\t\tGovernment grants \u00a0
\n\t\t\t\t\t3\ufffd3 \u00a0
\n\t\t\t\t\t-211 \u00a0
\n\t\t\t\t\t-452 \u00a0
\n\t\t\t\t\t37 250 \u00a0
\n\t\t\t\t\t30 745 \u00a0
\n\t\t\t\t\tTotal payroll and related expenses \u00a0
\n\t\t\t\t\t78 527 \u00a0
\n\t\t\t\t\t91 638 \u00a0
3.5 RESEARCH
AND DEVELOPMENT EXPENSES \u00a0
Accounting policy \u00a0
\n\t\t\t\t\tThe group\u2019s products are still in the research and development phase, and there are no revenue from sales of products yet. \u00a0
\n\t\t\t\t\tExpenditure on research activities is recognised as an expense in the period in which it is incurred. Internal development costs \u00a0
\n\t\t\t\t\trelated to the group\u2019s development of products are recognised in the income statement in the year incurred unless it meets the \u00a0
\n\t\t\t\t\tasset recognition criteria of IAS 38 \u201cIntangible Assets\u201d\ufffd An internally generated asset arising from the development phase of a \u00a0
\n\t\t\t\t\tresearch and development project is recognised if, and only if, all of the following has been demonstrated: \u00a0
\n\t\t\t\t\t\u25cf Technical feasibility of completing the intangible asset so that it will be available for use or sale. \u00a0
\n\t\t\t\t\t\u25cf The intention to complete the intangible asset and use or sell it. \u00a0
\n\t\t\t\t\t\u25cf The ability to use or sell the intangible asset. \u00a0
\n\t\t\t\t\t\u25cf How the intangible asset will generate probable future economic bene\ufb01ts. \u00a0
\n\t\t\t\t\t\u25cf The availability of adequate technical, \ufb01nancial and other resources to complete the development and use or sell the intangible asset. \u00a0
\n\t\t\t\t\t\u25cf The ability to measure reliably the expenditure attributable to the intangible asset during its development. \u00a0
\n\t\t\t\t\tUncertainties related to the regulatory approval process and results from ongoing clinical trials, generally, indicate that the criteria \u00a0
\n\t\t\t\t\tare not met until the time when marketing authorisation is obtained from relevant regulatory authorities. The group has currently \u00a0
\n\t\t\t\t\tno development expenditure that quali\ufb01es for recognition as an asset under IAS 38. \u00a0
\n\t\t\t\t\tResearch and development expenses are presented net, after deduction of government grants\ufffd \u00a0
Research and development expenses \u00a0
\n\t\t\t\t\tCost related to research and development is expensed. During the \ufb01nancial year 2022 expenses for research and development \u00a0
\n\t\t\t\t\twere NOK 247.3
million whereas, NOK 202.5 million is classi\ufb01ed as other operating expenses, NOK 3.5 is classi\ufb01ed as depreciation \u00a0
\n\t\t\t\t\tand NOK 41.3 million is classi\ufb01ed as payroll. In 2021 the research and development expenses were NOK 375.0 million whereas \u00a0
\n\t\t\t\t\tNOK 318.0 million is classi\ufb01ed as operating expenses, NOK 8.8 is classi\ufb01ed as depreciation and NOK 48.3 million is classi\ufb01ed \u00a0
\n\t\t\t\t\tas payroll respectively\ufffd Research and development expenses above are presented as gross amounts, before deduction of \u00a0
\n\t\t\t\t\tgovernment grants\ufffd Total cost does not include cost related to share-based payments\ufffd See note 3\ufffd3 for more information about \u00a0
\n\t\t\t\t\tgovernment grants presented as a reduction of operating costs\ufffd \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfExpensesExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXG6DK30",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact1489": {
"value": "3.2 PAYROLL
AND RELATED EXPENSES \u00a0
Accounting policy \u00a0
\n\t\t\t\t\tPayroll and related expenses are recognised in the statement of pro\ufb01t and loss in the period which the related costs are incurred \u00a0
\n\t\t\t\t\tor services are provided\ufffd For additional information on calculation of costs related to share based payments as options and PSUs \u00a0
\n\t\t\t\t\tsee note 6\ufffd3, 6\ufffd3\ufffd1 and 6\ufffd3\ufffd3\ufffd \u00a0
PARENT \u00a0
\n\t\t\t\t\tGROUP \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t(Amounts in NOK 1 000) \u00a0
\n\t\t\t\t\tNote \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t28 250 \u00a0
\n\t\t\t\t\t27 129 \u00a0
\n\t\t\t\t\tSalaries and bonus \u00a0
\n\t\t\t\t\t6\ufffd2, 6\ufffd3 \u00a0
\n\t\t\t\t\t68 760 \u00a0
\n\t\t\t\t\t71 017 \u00a0
\n\t\t\t\t\t3 895 \u00a0
\n\t\t\t\t\t3 984 \u00a0
\n\t\t\t\t\tSocial security tax \u00a0
\n\t\t\t\t\t8 676 \u00a0
\n\t\t\t\t\t8 575 \u00a0
\n\t\t\t\t\t1 673 \u00a0
\n\t\t\t\t\t1 701 \u00a0
\n\t\t\t\t\tPension expense \u00a0
\n\t\t\t\t\t6\ufffd5 \u00a0
\n\t\t\t\t\t4 907 \u00a0
\n\t\t\t\t\t3 165 \u00a0
\n\t\t\t\t\t2 495 \u00a0
\n\t\t\t\t\t-1 487 \u00a0
\n\t\t\t\t\tShare based payment employees \u00a0
\n\t\t\t\t\t6\ufffd3 \u00a0
\n\t\t\t\t\t-4 209 \u00a0
\n\t\t\t\t\t6 313 \u00a0
\n\t\t\t\t\t539 \u00a0
\n\t\t\t\t\t-869 \u00a0
\n\t\t\t\t\tAccrued employer's social security on share based payment \u00a0
\n\t\t\t\t\t6\ufffd3 \u00a0
\n\t\t\t\t\t-1 640 \u00a0
\n\t\t\t\t\t1 000 \u00a0
\n\t\t\t\t\t850 \u00a0
\n\t\t\t\t\t498 \u00a0
\n\t\t\t\t\tOther \u00a0
\n\t\t\t\t\t2 244 \u00a0
\n\t\t\t\t\t2 020 \u00a0
\n\t\t\t\t\t-452 \u00a0
\n\t\t\t\t\t-211 \u00a0
\n\t\t\t\t\tGovernment grants \u00a0
\n\t\t\t\t\t3\ufffd3 \u00a0
\n\t\t\t\t\t-211 \u00a0
\n\t\t\t\t\t-452 \u00a0
\n\t\t\t\t\t37 250 \u00a0
\n\t\t\t\t\t30 745 \u00a0
\n\t\t\t\t\tTotal payroll and related expenses \u00a0
\n\t\t\t\t\t78 527 \u00a0
\n\t\t\t\t\t91 638 \u00a0
6\ufffd1 REMUNERATION
TO MANAGEMENT \u00a0
Compensation of management \u00a0
\n\t\t\t\t\t(Amounts in NOK 1 000) \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tShort term employment bene\ufb01ts 1) \u00a0
\n\t\t\t\t\t22 391 \u00a0
\n\t\t\t\t\t30 743 \u00a0
\n\t\t\t\t\tPost-employment pension 2) \u00a0
\n\t\t\t\t\t1 465 \u00a0
\n\t\t\t\t\t1 148 \u00a0
\n\t\t\t\t\tTermination bene\ufb01ts 3) \u00a0
\n\t\t\t\t\t1 016 \u00a0
\n\t\t\t\t\t-
\n\t\t\t\t\tTotal compensation of management personnel of the group in cash \u00a0
\n\t\t\t\t\t24 872 \u00a0
\n\t\t\t\t\t31 891 \u00a0
\n\t\t\t\t\tImputed share based payment expense 4) \u00a0
\n\t\t\t\t\t-2 473 \u00a0
\n\t\t\t\t\t4 044 \u00a0
\n\t\t\t\t\tTotal compensation of management personnel of the group expense \u00a0
\n\t\t\t\t\t22 399 \u00a0
\n\t\t\t\t\t35 935 \u00a0
\n\t\t\t\t\t1) Short term employment bene\ufb01ts: Includes base salary and bene\ufb01ts, vacation pay if relevant and short tem incentives including annual bonus. \u00a0
\n\t\t\t\t\t2) Post-employment pension: Represents company\u2019s share of payment to pension contribution or bene\ufb01t plan during the period. See note 6.5 for more details \u00a0
\n\t\t\t\t\ton pensions. \u00a0
\n\t\t\t\t\t3) Termination bene\ufb01ts: As of 31 Desember 2022 two members of management have receive termination bene\ufb01ts. In addition four members of management \u00a0
\n\t\t\t\t\twill receive termination bene\ufb01ts in 2023 as agreed in individual severance agreements. The total payable in 2023 is amounted to NOK 1 991 thousand. \u00a0
\n\t\t\t\t\tThis amount has been expensed in 2022, but not included in the table above. Depending on the employees duration of employment termination bene\ufb01t \u00a0
\n\t\t\t\t\trepresents severance payment of two or three months contratual pay. \u00a0
\n\t\t\t\t\t4) Imputed share based payment expense: This amount represents calculated cost related to the PSUs granted to the executives, which will be charged to the \u00a0
\n\t\t\t\t\tstatement of \ufb01nancial income in that year. These costs are estimated based on a calculation of fair value measured at grant date. The calculation is performed \u00a0
\n\t\t\t\t\tin accordance with IFRS 2 share-based payments. The actual bene\ufb01t/gain related to the PSUs are dependent on actual amount of PSUs vesting, the share \u00a0
\n\t\t\t\t\tprice at time of exercise and the exercise price. The realised bene\ufb01t/gain at vesting may be different than the imputed costs associated with the grants. \u00a0
Shares in the company are held by the members of the management group 31 December 2022. \u00a0
\n\t\t\t\t\tEmployed with \u00a0
\n\t\t\t\t\tthe Company \u00a0
\n\t\t\t\t\tNumber of \u00a0
\n\t\t\t\t\tNumber of \u00a0
\n\t\t\t\t\tName \u00a0
\n\t\t\t\t\tCurrent position within the Company \u00a0
\n\t\t\t\t\tsince \u00a0
\n\t\t\t\t\tshares 2022 1) \u00a0
\n\t\t\t\t\tshares 2021 1) \u00a0
\n\t\t\t\t\tManagement at year end \u00a0
\n\t\t\t\t\tInterim Chief Excecutive Of\ufb01cer and \u00a0
\n\t\t\t\t\tMalene Brondberg \u00a0
\n\t\t\t\t\tChief Financial Of\ufb01cer \u00a0
\n\t\t\t\t\tFebruary 2018 \u00a0
\n\t\t\t\t\t32 000 \u00a0
\n\t\t\t\t\t21 196 \u00a0
\n\t\t\t\t\tErik Skullerud \u00a0
\n\t\t\t\t\tFormer Chief Excecutive Of\ufb01cer \u00a0
\n\t\t\t\t\tSeptember 2021 \u00a0
\n\t\t\t\t\t3 571 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\tLars Nieba \u00a0
\n\t\t\t\t\tChief Technology Of\ufb01cer \u00a0
\n\t\t\t\t\tDecember 2019 \u00a0
\n\t\t\t\t\t15 713 \u00a0
\n\t\t\t\t\t15 713 \u00a0
\n\t\t\t\t\tJostein Dahle \u00a0
\n\t\t\t\t\tChief Scienti\ufb01c Of\ufb01cer \u00a0
\n\t\t\t\t\tJanuary 2011 \u00a0
\n\t\t\t\t\t212 191 \u00a0
\n\t\t\t\t\t204 958 \u00a0
\n\t\t\t\t\tTotal shares owned by management \u00a0
\n\t\t\t\t\t263 475 \u00a0
\n\t\t\t\t\t241 867 \u00a0
\n\t\t\t\t\t1) Overview includes only management still employed at 31 December 2022. Shareholding including shares held by related parties. \u00a0
Performance Share Units (PSUs) and options held by members of the management on 31 December 2022 \u00a0
\n\t\t\t\t\tManagement has no outstanding PSUs or options as per 31 December 2022\ufffd All PSUs and options held by management have \u00a0
\n\t\t\t\t\tforfeited or been settled\ufffd See note 6\ufffd3\ufffd1 and 6\ufffd3\ufffd3 for more information on the share based payment programs\ufffd \u00a0
6.2 COMPENSATION
FOR LEADERSHIP TEAM MEMBERS \u00a0
This section provides an overview of the members of the compensation committee and an overview of elements in the compensation \u00a0
\n\t\t\t\t\tof the leadership team\ufffd Further information on the compensation of the leadership team members and the board can be found in \u00a0
\n\t\t\t\t\tthe remuneration report\ufffd \u00a0
\n\t\t\t\t\tOverview of the compensation policy \u00a0
\n\t\t\t\t\tNordic Nanovector\u2019s remuneration of the leadership team is proposed by the compensation committee and approved by the board. \u00a0
\n\t\t\t\t\tThe members of the Nordic Nanovector compensation committee were, up until 15 September: \u00a0
\n\t\t\t\t\t\u2022
\n\t\t\t\t\tSolveig Hellebust \u2013 chair \u00a0
\n\t\t\t\t\t\u2022
\n\t\t\t\t\tJoanna Horobin \u00a0
\n\t\t\t\t\t\u2022
\n\t\t\t\t\tJan H\ufffd Egberts \u00a0
\n\t\t\t\t\tThe Compensation Committee played a vital role in the restructuring of the Company and the reduction of staff numbers\ufffd After the \u00a0
\n\t\t\t\t\treduction of the Board on the 15 September, the Compensation Committee\u2019s tasks were moved to the remaining Board. \u00a0
\n\t\t\t\t\tCompensation for leadership team members \u00a0
\n\t\t\t\t\tNordic Nanovector seeks to entertain a performance-oriented culture, where the individual achievement is clearly aligned with \u00a0
\n\t\t\t\t\tthe company\u2019s overall strategic objectives. The company evaluates and rewards the leadership team based on their contributions \u00a0
\n\t\t\t\t\tto the achievement of the corporate priorities set early in the year\ufffd The performance of each member of the leadership team is \u00a0
\n\t\t\t\t\treviewed on an annual basis. \u00a0
\n\t\t\t\t\tNordic Nanovector\u2019s performance-based compensation programme consists of \ufb01ve components: \u00a0
\n\t\t\t\t\t\u2022
\n\t\t\t\t\tbase salary \u00a0
\n\t\t\t\t\t\u2022
\n\t\t\t\t\tpension bene\ufb01ts and \u2013 \u00a0
\n\t\t\t\t\t\u2022
\n\t\t\t\t\tother bene\ufb01ts \u00a0
\n\t\t\t\t\t\u2022
\n\t\t\t\t\tshort-term cash bonus \u00a0
\n\t\t\t\t\t\u2022
\n\t\t\t\t\tlong-term equity award \u00a0
\n\t\t\t\t\tThe board\u2019s view is that these \ufb01ve components best align the interests of the executive leadership team with those of the \u00a0
\n\t\t\t\t\tcompany\u2019s shareholders. This alignment is achieved by keeping a substantial portion of the total compensation allocated to \u00a0
\n\t\t\t\t\t\u201cat-risk\u201d performance-based incentives using short- and long-term incentive compensation\ufffd An appropriate level and mix of \u00a0
\n\t\t\t\t\tcompensation components are determined with independent and relevant compensation data as important input. The guidelines \u00a0
\n\t\t\t\t\tapply to the \ufb01nancial year 2022 and until new guidelines are adopted by the general meeting. \u00a0
\n\t\t\t\t\tFollowing the discontinuation of PARADIGME in July 2022, the annual cash bonus plan for 2022 was cancelled and as result no \u00a0
\n\t\t\t\t\tbonuses was paid out under this plan for the year 2022. \u00a0
6\ufffd4 REMUNERATION
TO THE BOARD \u00a0
The AGM held on 28 April 2022 resolved remuneration to the board and the nomination committee for the period from the 2022 \u00a0
\n\t\t\t\t\tAGM until the AGM in 2023 as shown in the table below. On 15 September 2022 the company announced that following the \u00a0
\n\t\t\t\t\tdecision to discontinue the PARADIGME study three board members had decided to step down. Solveig Hellebust, Jean Pierre \u00a0
\n\t\t\t\t\tBizzari and Thomas Ramdahl left the company\u2019s board with immediate effect. For the remainder of 2022 the board consisted of \u00a0
\n\t\t\t\t\tJan H. Egberts (Chair), Joanna Horobin and Karin Meyer. At the same time the compensation-, audit- and clinical committee\u2019s \u00a0
\n\t\t\t\t\ttasks were moved to the remaining board. \u00a0
\n\t\t\t\t\tBoard of \u00a0
\n\t\t\t\t\tAudit \u00a0
\n\t\t\t\t\tCompensation \u00a0
\n\t\t\t\t\tClinical \u00a0
\n\t\t\t\t\tNomination \u00a0
\n\t\t\t\t\t(Amounts in NOK 1 000, \u00a0
\n\t\t\t\t\texclusive of social security) \u00a0
\n\t\t\t\t\tdirectors \u00a0
\n\t\t\t\t\tcommittee \u00a0
\n\t\t\t\t\tcommittee \u00a0
\n\t\t\t\t\tcommittee \u00a0
\n\t\t\t\t\tcommittee \u00a0
\n\t\t\t\t\tChair \u00a0
\n\t\t\t\t\t600 \u00a0
\n\t\t\t\t\t40 \u00a0
\n\t\t\t\t\t40 \u00a0
\n\t\t\t\t\t40 \u00a0
\n\t\t\t\t\t45 \u00a0
\n\t\t\t\t\tMembers \u00a0
\n\t\t\t\t\t330 \u00a0
\n\t\t\t\t\t20 \u00a0
\n\t\t\t\t\t20 \u00a0
\n\t\t\t\t\t20 \u00a0
\n\t\t\t\t\t25 \u00a0
\n\t\t\t\t\tBoard of directors and their roles \u00a0
\n\t\t\t\t\tBoard of \u00a0
\n\t\t\t\t\tAudit \u00a0
\n\t\t\t\t\tCompensation \u00a0
\n\t\t\t\t\tClinical \u00a0
\n\t\t\t\t\tBoard member \u00a0
\n\t\t\t\t\tdirectors \u00a0
\n\t\t\t\t\tcommittee \u00a0
\n\t\t\t\t\tcommittee \u00a0
\n\t\t\t\t\tcommittee \u00a0
\n\t\t\t\t\tJan H\ufffd Egberts \u00a0
\n\t\t\t\t\tChair \u00a0
\n\t\t\t\t\tMember \u00a0
\n\t\t\t\t\tMember \u00a0
\n\t\t\t\t\tKarin Meyer \u00a0
\n\t\t\t\t\tMember \u00a0
\n\t\t\t\t\tChair \u00a0
\n\t\t\t\t\tJoanna Horobin \u00a0
\n\t\t\t\t\tMember \u00a0
\n\t\t\t\t\tMember \u00a0
\n\t\t\t\t\tMember \u00a0
\n\t\t\t\t\tMember \u00a0
\n\t\t\t\t\tJean-Pierre Bizzari 1) \u00a0
\n\t\t\t\t\tMember \u00a0
\n\t\t\t\t\tChair \u00a0
\n\t\t\t\t\tThomas Ramdahl 1) \u00a0
\n\t\t\t\t\tMember \u00a0
\n\t\t\t\t\tMember \u00a0
\n\t\t\t\t\tSolveig Hellebust 1) \u00a0
\n\t\t\t\t\tMember \u00a0
\n\t\t\t\t\tChair \u00a0
\n\t\t\t\t\t1) Board member until September 2022 \u00a0
Members of the board committees, such as the audit committee, the compensation committee and the clinical committee shall re- \u00a0
\n\t\t\t\t\tceive remuneration of NOK 4 000 per committee meeting, but not less than NOK 20 000 for each committee member\ufffd The chair of \u00a0
\n\t\t\t\t\teach committee will receive NOK 8 000 per meeting and minimum NOK 40 000. In order to attract international board members, it \u00a0
\n\t\t\t\t\twas approved to pay board members EUR 100 per lost working hour when traveling to attend board meetings. \u00a0
\n\t\t\t\t\tAt the 2022 AGM, the shareholders approved the issuance of restricted stock units (RSUs) to board members, who elected to re- \u00a0
\n\t\t\t\t\tceive all or parts of their remuneration in the form of RSUs. The board members\u2018 election of RSUs as part of their remuneration is \u00a0
\n\t\t\t\t\tdisclosed in note 6\ufffd3\ufffd2\ufffd \u00a0
Remuneration to the board for the 12 month period from AGM to AGM the following year \u00a0
\n\t\t\t\t\tBoard fee and fees for committee work2) \u00a0
\n\t\t\t\t\t(Amounts in NOK 1 000, \u00a0
\n\t\t\t\t\tServed since / \u00a0
\n\t\t\t\t\texcept number of shares) \u00a0
\n\t\t\t\t\tperiod on the board \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tBoard per 31 December 2022 \u00a0
\n\t\t\t\t\tJan H\ufffd Egberts1) \u00a0
\n\t\t\t\t\tFebruary 2019 \u00a0
\n\t\t\t\t\t640 \u00a0
\n\t\t\t\t\t620 \u00a0
\n\t\t\t\t\tJoanna Horobin \u00a0
\n\t\t\t\t\tOctober 2016 \u00a0
\n\t\t\t\t\t390 \u00a0
\n\t\t\t\t\t370 \u00a0
\n\t\t\t\t\tKarin Meyer \u00a0
\n\t\t\t\t\tJune 2020 \u00a0
\n\t\t\t\t\t370 \u00a0
\n\t\t\t\t\t370 \u00a0
\n\t\t\t\t\tFormer member of the board \u00a0
\n\t\t\t\t\tJean-Pierre Bizzari4) \u00a0
\n\t\t\t\t\tMay 2016 - September 2022 \u00a0
\n\t\t\t\t\t370 \u00a0
\n\t\t\t\t\t370 \u00a0
\n\t\t\t\t\tSolveig Hellebust 4) \u00a0
\n\t\t\t\t\tApril 2021 - September 2022 \u00a0
\n\t\t\t\t\t370 \u00a0
\n\t\t\t\t\t350 \u00a0
\n\t\t\t\t\tThomas Ramdahl 5) \u00a0
\n\t\t\t\t\tApril 2022 - September 2022 \u00a0
\n\t\t\t\t\t350 \u00a0
\n\t\t\t\t\t-
\n\t\t\t\t\tPer Samuelsson \u00a0
\n\t\t\t\t\tNovember 2014 - April 2022 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t390 \u00a0
\n\t\t\t\t\tRainer Boehm \u00a0
\n\t\t\t\t\tMay 2018 - April 2022 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t350 \u00a0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\t2 490 \u00a0
\n\t\t\t\t\t2 820 \u00a0
Shares held by the board at year end \u00a0
\n\t\t\t\t\tNumber of shares as of 31.123) \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t32 617 \u00a0
\n\t\t\t\t\t29 046 \u00a0
\n\t\t\t\t\t25 240 \u00a0
\n\t\t\t\t\t25 240 \u00a0
\n\t\t\t\t\t1 286 \u00a0
\n\t\t\t\t\t571 \u00a0
\n\t\t\t\t\t-
\n\t\t\t\t\t20 452 \u00a0
\n\t\t\t\t\t-
\n\t\t\t\t\t-
\n\t\t\t\t\t-
\n\t\t\t\t\t-
\n\t\t\t\t\t-
\n\t\t\t\t\t0
\n\t\t\t\t\t-
\n\t\t\t\t\t5 904 \u00a0
\n\t\t\t\t\t59 143 \u00a0
\n\t\t\t\t\t81 213 \u00a0
1) In
2022 and 2021 the group has used the professional services of its chairperson in relation to consulting services. The consulting services is related \u00a0
\n\t\t\t\t\tto work beyond regular board duties. See section 8.2 for details. \u00a0
\n\t\t\t\t\t2) Minimum fees for committee work included i.e. \ufb01ve meetings per period. \u00a0
\n\t\t\t\t\t3) Shareholdings
are not included for representatives who are no longer members as of 31 December 2022. \u00a0
\n\t\t\t\t\t4) In September the company announced that following the decision to discontinue the PARADIGME study three board members had decided to step down. \u00a0
\n\t\t\t\t\tSolveig Hellebust, Jean Pierre Bizzari and Thomas Ramdahl left the company\u2019s Board with immediate effect. They received pro-rata board fee for their actual \u00a0
\n\t\t\t\t\tservice period as board member. For the remainder of 2022 the board consisted of Jan H. Egberts (Chair), Joanna Horobin and Karin Meyer. \u00a0
\n\t\t\t\t\t5) In 2022 the group has used the professional services from Thomas Ramdahl related to the proposed merger with APIM. The consulting services is related \u00a0
\n\t\t\t\t\tto work beyond regular board duties. See note 8.2 for details. \u00a0
The total remuneration for the board recognised as expense in the accounts for 2022 was NOK 2.4 million (NOK 3.4 million), hereof \u00a0
\n\t\t\t\t\tNOK 1\ufffd5 million in fees payable in cash (NOK 2\ufffd4 million) and NOK 0\ufffd9 million (NOK 1\ufffd3 million) for imputed costs related to share \u00a0
\n\t\t\t\t\tbased payments (RSUs), which has no cash effect. Total remuneration to the board is classi\ufb01ed as other operating expenses and \u00a0
\n\t\t\t\t\tincludes fees for committee work and compensation for lost working hours when traveling to attend the board meetings. \u00a0
6.5 PENSION
Accounting policy \u00a0
\n\t\t\t\t\tDe\ufb01ned contribution plans \u00a0
\n\t\t\t\t\tThe pension premiums related to de\ufb01ned contribution plans are charged to expenses as they are incurred. \u00a0
\n\t\t\t\t\tDe\ufb01ned bene\ufb01t plans \u00a0
\n\t\t\t\t\tDe\ufb01ned bene\ufb01t plans are valued at the present value of accrued future pension bene\ufb01ts at the end of the reporting period. Pension \u00a0
\n\t\t\t\t\tplan assets are valued at their fair value\ufffd \u00a0
\n\t\t\t\t\tThe current service cost and net interest income/costs are recognised immediately and are presented as payroll and related \u00a0
\n\t\t\t\t\texpenses in the income statement. Net interest income/costs are calculated by using the discount rate of the liability at the beginning \u00a0
\n\t\t\t\t\tof the period on the net liability, but classi\ufb01ed as part of payroll and related costs. Changes in net pension liabilities as a result of \u00a0
\n\t\t\t\t\tpayments of premiums and pension payments have been taken into consideration. The difference between the actual return and the \u00a0
\n\t\t\t\t\taccounted return is recognised continuously through other comprehensive income\ufffd The pension costs are affecting the payroll and \u00a0
\n\t\t\t\t\trelated expenses in the income statement\ufffd Actuarial gains and losses, including changes in value, both for assets and liabilities, are \u00a0
\n\t\t\t\t\trecognised through other comprehensive income. Actuarial gains and losses are not reclassi\ufb01ed over pro\ufb01t and loss. \u00a0
\n\t\t\t\t\tGains or losses on the curtailment or settlement of a de\ufb01ned bene\ufb01t plan are recognised through pro\ufb01t and loss when the \u00a0
\n\t\t\t\t\tcurtailment or settlement occurs\ufffd \u00a0
\n\t\t\t\t\tA curtailment occurs when the group decides to make a material reduction in the number of employees covered by a plan or \u00a0
\n\t\t\t\t\tamends the terms of a de\ufb01ned bene\ufb01t plan, such that a considerable part of the current employees\u2019 future earnings will no longer \u00a0
\n\t\t\t\t\tqualify for bene\ufb01ts or will qualify only for reduced bene\ufb01ts. \u00a0
\n\t\t\t\t\tThe introduction of a new de\ufb01ned bene\ufb01t plan or an improvement to the current de\ufb01ned bene\ufb01t plan will lead to changes in \u00a0
\n\t\t\t\t\tthe pension liabilities. These will be charged to expenses in a straight line during the period until the effect of the change has \u00a0
\n\t\t\t\t\tbeen accrued. The introduction of new plans or changes to existing plans, which take place with retroactive effect so that the \u00a0
\n\t\t\t\t\temployees immediately accrue a paid-up policy (or a change in a paid-up policy) are recognised in the statement of comprehensive \u00a0
\n\t\t\t\t\tincome immediately\ufffd Gains or losses linked to curtailments or terminations of pension plans are recognised in the statement of \u00a0
\n\t\t\t\t\tcomprehensive income when they arise. \u00a0
Total pension expense (recognised in the consolidated statement of pro\ufb01t or loss) \u00a0
\n\t\t\t\t\tPARENT \u00a0
\n\t\t\t\t\tGROUP \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t(Amounts in NOK 1 000) \u00a0
\n\t\t\t\t\tNote \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t1 673 \u00a0
\n\t\t\t\t\t1 701 \u00a0
\n\t\t\t\t\tPension contributions \u00a0
\n\t\t\t\t\t3 111 \u00a0
\n\t\t\t\t\t2 777 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tDe\ufb01ned bene\ufb01t plan in Nordic Nanovector GmbH1) \u00a0
\n\t\t\t\t\t1 796 \u00a0
\n\t\t\t\t\t388 \u00a0
\n\t\t\t\t\t1 673 \u00a0
\n\t\t\t\t\t1 701 \u00a0
\n\t\t\t\t\tTotal pension expense \u00a0
\n\t\t\t\t\t3\ufffd2 \u00a0
\n\t\t\t\t\t4 907 \u00a0
\n\t\t\t\t\t3 165 \u00a0
\n\t\t\t\t\t* From 1 January 2022, the retirement conversion rates was reduced for both the mandatory and the over-mandatory portions of the de\ufb01ned bene\ufb01t \u00a0
\n\t\t\t\t\tplan members account balances. This change is treated as plan amendment leading to a plan change income of NOK 583k for the \ufb01nancial year 2021. \u00a0
De\ufb01ned contribution plan \u00a0
\n\t\t\t\t\tThe parent company has a de\ufb01ned contribution pension scheme that complies with the requirements of Norwegian occupational \u00a0
\n\t\t\t\t\tpension legislation (OTP)\ufffd 13 employees are included in this scheme as of 31 December 2022 (2021: 19 employees)\ufffd Nordic \u00a0
\n\t\t\t\t\tNanovector Ltd has a statutory pension scheme as required by the UK government, which has three active participants at year-end \u00a0
\n\t\t\t\t\t2022 (2021: 12 employees). Nordic Nanovector\u2019s Danish Branch was closed down in December 2022. The branch had a de\ufb01ned \u00a0
\n\t\t\t\t\tcontribution scheme with four active members in 2021. \u00a0
De\ufb01ned bene\ufb01t plan \u00a0
\n\t\t\t\t\tNordic Nanovector\u2019s subsidiary in Switzerland has a pension scheme with the requirements of the Swiss Federal Social Insurance \u00a0
\n\t\t\t\t\tLegislation (BSV). The plan is classed as a cash balance plan, valued as a de\ufb01ned bene\ufb01t plan for IFRS purposes (IAS 19). The \u00a0
\n\t\t\t\t\tplan has two active participants and no pensioners as at 31 December, 2022 (2021: six active employees). \u00a0
Description of plan characteristics and associated risks \u00a0
\n\t\t\t\t\tNordic Nanovector GmbH meets its obligations to provide retirement and risk bene\ufb01ts to employees via a (fully insured) contract \u00a0
\n\t\t\t\t\twith Sammelstiftung BVG Allianz Suisse Lebensversicherungs-Gesellschaft (Allianz). The company has overall responsibility for \u00a0
\n\t\t\t\t\tdeciding on the level and structure of plan bene\ufb01ts subject to certain minimum legal requirements. The plan is governed by Allianz. \u00a0
\n\t\t\t\t\tThe company has a pension committee which is equally represented by employees and employer representatives. The duties of \u00a0
\n\t\t\t\t\tthe pension committee are expressed in the organisational rules of Allianz and mainly cover choice of appropriate plan design, \u00a0
\n\t\t\t\t\tcontrol of contributions into the plan, periodic information to its plan members, use of excess assets if any and others\ufffd \u00a0
\n\t\t\t\t\tThe company and employees pay \ufb01xed contributions to the plan. Each employee has an account balance which consists of \u00a0
\n\t\t\t\t\taccumulated contributions and interest credited by Allianz\ufffd The level of interest granted each year is discretionary and determined \u00a0
\n\t\t\t\t\tby Allianz considering the minimum legal requirements for interest. At retirement, employees can choose whether to take their \u00a0
\n\t\t\t\t\tbene\ufb01ts as a lump sum or receive an annual pension. The amount of annual pension depends on the factor in force at the time of \u00a0
\n\t\t\t\t\tretirement that is set by Allianz\ufffd \u00a0
\n\t\t\t\t\tThe plan includes a number of guarantees which expose the company to risks. The main risks that the plan has include: \u00a0
\n\t\t\t\t\t-
\n\t\t\t\t\tInvestment risk: There is a guaranteed return on employees\u2019 account balances of at least 0 per cent p.a. on the total account \u00a0
\n\t\t\t\t\tbalance\ufffd The investment strategy is set by Allianz and therefore the asset held by the company is effectively the insurance \u00a0
\n\t\t\t\t\tcontract rather than the underlying assets\ufffd \u00a0
\n\t\t\t\t\t-
\n\t\t\t\t\tPensioner longevity and investment risk: The pension plan offers a lifelong pension in lieu of the cash lump sum at retirement\ufffd \u00a0
\n\t\t\t\t\tThe plan has de\ufb01ned rates for converting the lump sum to a pension and there is the risk that the members live longer \u00a0
\n\t\t\t\t\tthan implied by these conversion rates and / or that the pension assets don\u2019t achieve the investment return implied by these \u00a0
\n\t\t\t\t\tconversion rates \ufffd \u00a0
\n\t\t\t\t\tThe nature of the risks of Swiss pension plans means that plans can become underfunded if assumptions are not borne out in \u00a0
\n\t\t\t\t\tpractice; however, these risks are borne by Allianz and effectively the company\u2019s plan has constantly a funding level of 100 per cent \u00a0
\n\t\t\t\t\taccording to funding requirements. The company remains responsible for providing bene\ufb01ts to members if the Allianz contract is \u00a0
\n\t\t\t\t\tcancelled or Allianz is unable to meet its obligations\ufffd If the contract is cancelled, or Allianz is unable to meet its obligations, it could \u00a0
\n\t\t\t\t\tbe possible to take out an equivalent contract with a different provider. The Allianz contract is automatically renewed each year. \u00a0
Determination of economic bene\ufb01t available \u00a0
\n\t\t\t\t\tNo determination of economic bene\ufb01t available has been made since the plan has a de\ufb01cit according to the IAS 19 valuation. \u00a0
\n\t\t\t\t\tBalance sheet position \u00a0
\n\t\t\t\t\tGROUP \u00a0
\n\t\t\t\t\t(Amounts in NOK 1 000) \u00a0
\n\t\t\t\t\t31\ufffd12\ufffd2022 \u00a0
\n\t\t\t\t\t31\ufffd12\ufffd2021 \u00a0
\n\t\t\t\t\tDe\ufb01ned bene\ufb01t obligation \u00a0
\n\t\t\t\t\t-13 560 \u00a0
\n\t\t\t\t\t-19 648 \u00a0
\n\t\t\t\t\tPlan assets \u00a0
\n\t\t\t\t\t12 040 \u00a0
\n\t\t\t\t\t15 187 \u00a0
\n\t\t\t\t\tDe\ufb01ned bene\ufb01t (liability) \u00a0
\n\t\t\t\t\t-1 520 \u00a0
\n\t\t\t\t\t-4 461 \u00a0
\n\t\t\t\t\tAssumptions \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tDiscount rate \u00a0
\n\t\t\t\t\t2\ufffd30% \u00a0
\n\t\t\t\t\t0\ufffd30% \u00a0
\n\t\t\t\t\tInterest credit rate \u00a0
\n\t\t\t\t\t2\ufffd30% \u00a0
\n\t\t\t\t\t0\ufffd45% \u00a0
\n\t\t\t\t\tAnnual salary increase \u00a0
\n\t\t\t\t\t2\ufffd50% \u00a0
\n\t\t\t\t\t2\ufffd50% \u00a0
\n\t\t\t\t\tActuarial tables \u00a0
\n\t\t\t\t\tBVG 2020 (CMI) \u00a0
\n\t\t\t\t\tBVG 2020 (CMI) \u00a0
\n\t\t\t\t\tTurnover rates \u00a0
\n\t\t\t\t\t200% BVG 2020 \u00a0
\n\t\t\t\t\t200% BVG 2020 \u00a0
Change in plan assets during the period \u00a0
\n\t\t\t\t\tGROUP \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t(Amounts in NOK 1 000) \u00a0
\n\t\t\t\t\tPlan asset at fair value at 1 January \u00a0
\n\t\t\t\t\t15 187 \u00a0
\n\t\t\t\t\t14 977 \u00a0
\n\t\t\t\t\tEmployer contribution \u00a0
\n\t\t\t\t\t1 480 \u00a0
\n\t\t\t\t\t1 044 \u00a0
\n\t\t\t\t\tEmployee contribution \u00a0
\n\t\t\t\t\t1 480 \u00a0
\n\t\t\t\t\t1 044 \u00a0
\n\t\t\t\t\tActual return on plan assets \u00a0
\n\t\t\t\t\t70 \u00a0
\n\t\t\t\t\t103 \u00a0
\n\t\t\t\t\tBene\ufb01ts paid, transferred balances \u00a0
\n\t\t\t\t\t-7 360 \u00a0
\n\t\t\t\t\t-2 023 \u00a0
\n\t\t\t\t\tInterest income \u00a0
\n\t\t\t\t\t60 \u00a0
\n\t\t\t\t\t9
\n\t\t\t\t\tExpected admin expense \u00a0
\n\t\t\t\t\t-70 \u00a0
\n\t\t\t\t\t-66 \u00a0
\n\t\t\t\t\tExchange differences \u00a0
\n\t\t\t\t\t1 193 \u00a0
\n\t\t\t\t\t99 \u00a0
\n\t\t\t\t\tPlan asset at fair value at 31 December \u00a0
\n\t\t\t\t\t12 040 \u00a0
\n\t\t\t\t\t15 187 \u00a0
Change in de\ufb01ned bene\ufb01t obligation during the period \u00a0
\n\t\t\t\t\tGROUP \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t(Amounts in NOK 1 000) \u00a0
\n\t\t\t\t\tDe\ufb01ned bene\ufb01t obligation at 1 January \u00a0
\n\t\t\t\t\t19 647 \u00a0
\n\t\t\t\t\t20 002 \u00a0
\n\t\t\t\t\tInterest costs \u00a0
\n\t\t\t\t\t60 \u00a0
\n\t\t\t\t\t9
\n\t\t\t\t\tCurrent service costs (net of employee contributions) \u00a0
\n\t\t\t\t\t1 651 \u00a0
\n\t\t\t\t\t969 \u00a0
\n\t\t\t\t\tEmployee contribution \u00a0
\n\t\t\t\t\t1 480 \u00a0
\n\t\t\t\t\t1 044 \u00a0
\n\t\t\t\t\tBene\ufb01t paid, transferred balances \u00a0
\n\t\t\t\t\t-7 360 \u00a0
\n\t\t\t\t\t-2 023 \u00a0
\n\t\t\t\t\tPlan amendments \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t-583 \u00a0
\n\t\t\t\t\tActuarial (gain)/loss \u00a0
\n\t\t\t\t\t-3 363 \u00a0
\n\t\t\t\t\t122 \u00a0
\n\t\t\t\t\tExchange differences \u00a0
\n\t\t\t\t\t1 445 \u00a0
\n\t\t\t\t\t108 \u00a0
\n\t\t\t\t\tDe\ufb01ned bene\ufb01t obligation at 31 December \u00a0
\n\t\t\t\t\t13 560 \u00a0
\n\t\t\t\t\t19 648 \u00a0
Reconciliation of the balance sheet position \u00a0
\n\t\t\t\t\tGROUP \u00a0
\n\t\t\t\t\t(Amounts in NOK 1 000) \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tNet liability / (asset) in the balance sheet at start of year \u00a0
\n\t\t\t\t\t4 461 \u00a0
\n\t\t\t\t\t5 025 \u00a0
\n\t\t\t\t\tNet periodic pension cost of employer \u00a0
\n\t\t\t\t\t1 796 \u00a0
\n\t\t\t\t\t388 \u00a0
\n\t\t\t\t\tContributions by the employer \u00a0
\n\t\t\t\t\t-1 542 \u00a0
\n\t\t\t\t\t-977 \u00a0
\n\t\t\t\t\tAmounts recognised in OCI - not reversable \u00a0
\n\t\t\t\t\t-3 614 \u00a0
\n\t\t\t\t\t20 \u00a0
\n\t\t\t\t\tAmounts recognised in OCI - reversable \u00a0
\n\t\t\t\t\t419 \u00a0
\n\t\t\t\t\t6
\n\t\t\t\t\tNet liability / (asset) in the balance sheet at end of the year \u00a0
\n\t\t\t\t\t1 520 \u00a0
\n\t\t\t\t\t4 461 \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfEmployeeBenefitsExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXG6DK30",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact1515": {
"value": "3.2 PAYROLL
AND RELATED EXPENSES \u00a0
PARENT \u00a0
\n\t\t\t\t\tGROUP \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t(Amounts in NOK 1 000) \u00a0
\n\t\t\t\t\tNote \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t28 250 \u00a0
\n\t\t\t\t\t27 129 \u00a0
\n\t\t\t\t\tSalaries and bonus \u00a0
\n\t\t\t\t\t6\ufffd2, 6\ufffd3 \u00a0
\n\t\t\t\t\t68 760 \u00a0
\n\t\t\t\t\t71 017 \u00a0
\n\t\t\t\t\t3 895 \u00a0
\n\t\t\t\t\t3 984 \u00a0
\n\t\t\t\t\tSocial security tax \u00a0
\n\t\t\t\t\t8 676 \u00a0
\n\t\t\t\t\t8 575 \u00a0
\n\t\t\t\t\t1 673 \u00a0
\n\t\t\t\t\t1 701 \u00a0
\n\t\t\t\t\tPension expense \u00a0
\n\t\t\t\t\t6\ufffd5 \u00a0
\n\t\t\t\t\t4 907 \u00a0
\n\t\t\t\t\t3 165 \u00a0
\n\t\t\t\t\t2 495 \u00a0
\n\t\t\t\t\t-1 487 \u00a0
\n\t\t\t\t\tShare based payment employees \u00a0
\n\t\t\t\t\t6\ufffd3 \u00a0
\n\t\t\t\t\t-4 209 \u00a0
\n\t\t\t\t\t6 313 \u00a0
\n\t\t\t\t\t539 \u00a0
\n\t\t\t\t\t-869 \u00a0
\n\t\t\t\t\tAccrued employer's social security on share based payment \u00a0
\n\t\t\t\t\t6\ufffd3 \u00a0
\n\t\t\t\t\t-1 640 \u00a0
\n\t\t\t\t\t1 000 \u00a0
\n\t\t\t\t\t850 \u00a0
\n\t\t\t\t\t498 \u00a0
\n\t\t\t\t\tOther \u00a0
\n\t\t\t\t\t2 244 \u00a0
\n\t\t\t\t\t2 020 \u00a0
\n\t\t\t\t\t-452 \u00a0
\n\t\t\t\t\t-211 \u00a0
\n\t\t\t\t\tGovernment grants \u00a0
\n\t\t\t\t\t3\ufffd3 \u00a0
\n\t\t\t\t\t-211 \u00a0
\n\t\t\t\t\t-452 \u00a0
\n\t\t\t\t\t37 250 \u00a0
\n\t\t\t\t\t30 745 \u00a0
\n\t\t\t\t\tTotal payroll and related expenses \u00a0
\n\t\t\t\t\t78 527 \u00a0
\n\t\t\t\t\t91 638 \u00a0
3.3 GOVERNMENT
GRANTS \u00a0
Accounting policy \u00a0
\n\t\t\t\t\tGovernment grants are recognised where there is reasonable assurance that the grant will be received and all attached conditions \u00a0
\n\t\t\t\t\twill be complied with. The grant is recognised in the income statement in the same period as the related costs, which are presented \u00a0
\n\t\t\t\t\tnet\ufffd \u00a0
\n\t\t\t\t\tGovernment grants are normally related to either reimbursements of employee costs and classi\ufb01ed as a reduction of payroll and \u00a0
\n\t\t\t\t\trelated expenses or related to other operating activities and thus classi\ufb01ed as a reduction of other operating expenses. \u00a0
PARENT \u00a0
\n\t\t\t\t\tGROUP \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\tNote \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t(Amounts in NOK 1 000) \u00a0
\n\t\t\t\t\tGovernment grants have been recognised in the \u00a0
\n\t\t\t\t\tstatement of pro\ufb01t or loss as a reduction for the \u00a0
\n\t\t\t\t\trelated expenses with the following amounts: \u00a0
\n\t\t\t\t\t452 \u00a0
\n\t\t\t\t\t211 \u00a0
\n\t\t\t\t\tPayroll and related expenses \u00a0
\n\t\t\t\t\t3\ufffd2 \u00a0
\n\t\t\t\t\t211 \u00a0
\n\t\t\t\t\t452 \u00a0
\n\t\t\t\t\t4 725 \u00a0
\n\t\t\t\t\t4 589 \u00a0
\n\t\t\t\t\tOther operating expenses \u00a0
\n\t\t\t\t\t3\ufffd1 \u00a0
\n\t\t\t\t\t4 589 \u00a0
\n\t\t\t\t\t4 725 \u00a0
\n\t\t\t\t\t5 177 \u00a0
\n\t\t\t\t\t4 800 \u00a0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\t4 800 \u00a0
\n\t\t\t\t\t5 177 \u00a0
\n\t\t\t\t\tGrants receivable are detailed as follows: \u00a0
\n\t\t\t\t\t4 750 \u00a0
\n\t\t\t\t\t4 750 \u00a0
\n\t\t\t\t\tGrants from SkatteFUNN \u00a0
\n\t\t\t\t\t4 750 \u00a0
\n\t\t\t\t\t4 750 \u00a0
\n\t\t\t\t\t4 750 \u00a0
\n\t\t\t\t\t4 750 \u00a0
\n\t\t\t\t\tTotal 31\ufffd12 \u00a0
\n\t\t\t\t\t3\ufffd4 \u00a0
\n\t\t\t\t\t4 750 \u00a0
\n\t\t\t\t\t4 750 \u00a0
\n\t\t\t\t\t1) Research and development projects have been approved for SkatteFUNN grants through 2023. For the \ufb01nancial period ended 31 December 2022, \u00a0
\n\t\t\t\t\tthe company has recognised NOK 4.8 million compared to NOK 4.8 million for the same period in 2021. The amount was recognised partly as a \u00a0
\n\t\t\t\t\treduction of payroll and related expenses and partly as a reduction of other operating expenses. \u00a0
\n\t\t\t\t\t2) The company has \ufb01nalised the discovery phase of its Alpha37 R&D collaboration with Orano Med. Alpha37 leverages Nordic Nanovector\u2019s chimeric \u00a0
\n\t\t\t\t\tanti-CD37 antibody, NNV003, chelated with the alpha particle generating radionuclide 212Pb; for potential treatment of NHL and chronic lymphocytic \u00a0
\n\t\t\t\t\tleukemia (CLL). For the \ufb01nancial period ended 31 December 2021, the company recognised NOK 0.4 million partly as a reduction of payroll and \u00a0
\n\t\t\t\t\trelated expenses and other operating expenses. \u00a0
\n\t\t\t\t\t3) For the \ufb01nancial period ended 31 December 2022, the company has recognised NOK 0.1 million compared to NOK 0.0 million for the same period in \u00a0
\n\t\t\t\t\t2021, for grants received for a collaboration project with Thor Medical. \u00a0
3.4 OTHER
CURRENT RECEIVABLES AND PREPAYMENTS \u00a0
PARENT \u00a0
\n\t\t\t\t\tGROUP \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\tNote \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t(Amounts in NOK 1 000) \u00a0
\n\t\t\t\t\t4 750 \u00a0
\n\t\t\t\t\t4 750 \u00a0
\n\t\t\t\t\tGovernment grants \u00a0
\n\t\t\t\t\t3\ufffd3 \u00a0
\n\t\t\t\t\t4 750 \u00a0
\n\t\t\t\t\t4 750 \u00a0
\n\t\t\t\t\t4 163 \u00a0
\n\t\t\t\t\t2 732 \u00a0
\n\t\t\t\t\tRefundable VAT \u00a0
\n\t\t\t\t\t2 906 \u00a0
\n\t\t\t\t\t4 182 \u00a0
\n\t\t\t\t\t1 956 \u00a0
\n\t\t\t\t\t641 \u00a0
\n\t\t\t\t\tPrepaid expenses \u00a0
\n\t\t\t\t\t877 \u00a0
\n\t\t\t\t\t2 182 \u00a0
\n\t\t\t\t\t1 548 \u00a0
\n\t\t\t\t\t1 548 \u00a0
\n\t\t\t\t\tRental deposits \u00a0
\n\t\t\t\t\t1 588 \u00a0
\n\t\t\t\t\t1 576 \u00a0
\n\t\t\t\t\t101 \u00a0
\n\t\t\t\t\t15 \u00a0
\n\t\t\t\t\tOther receivables \u00a0
\n\t\t\t\t\t271 \u00a0
\n\t\t\t\t\t333 \u00a0
\n\t\t\t\t\t12 518 \u00a0
\n\t\t\t\t\t9 686 \u00a0
\n\t\t\t\t\tOther current receivables and prepayments 31.12 \u00a0
\n\t\t\t\t\t10 392 \u00a0
\n\t\t\t\t\t13 023 \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfGovernmentGrantsExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXG6DK30",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact1522": {
"value": "Accounting policy \u00a0
\n\t\t\t\t\tPayroll and related expenses are recognised in the statement of pro\ufb01t and loss in the period which the related costs are incurred \u00a0
\n\t\t\t\t\tor services are provided\ufffd For additional information on calculation of costs related to share based payments as options and PSUs \u00a0
\n\t\t\t\t\tsee note 6\ufffd3, 6\ufffd3\ufffd1 and 6\ufffd3\ufffd3\ufffd \u00a0
Accounting policy \u00a0
\n\t\t\t\t\tDe\ufb01ned contribution plans \u00a0
\n\t\t\t\t\tThe pension premiums related to de\ufb01ned contribution plans are charged to expenses as they are incurred. \u00a0
\n\t\t\t\t\tDe\ufb01ned bene\ufb01t plans \u00a0
\n\t\t\t\t\tDe\ufb01ned bene\ufb01t plans are valued at the present value of accrued future pension bene\ufb01ts at the end of the reporting period. Pension \u00a0
\n\t\t\t\t\tplan assets are valued at their fair value\ufffd \u00a0
\n\t\t\t\t\tThe current service cost and net interest income/costs are recognised immediately and are presented as payroll and related \u00a0
\n\t\t\t\t\texpenses in the income statement. Net interest income/costs are calculated by using the discount rate of the liability at the beginning \u00a0
\n\t\t\t\t\tof the period on the net liability, but classi\ufb01ed as part of payroll and related costs. Changes in net pension liabilities as a result of \u00a0
\n\t\t\t\t\tpayments of premiums and pension payments have been taken into consideration. The difference between the actual return and the \u00a0
\n\t\t\t\t\taccounted return is recognised continuously through other comprehensive income\ufffd The pension costs are affecting the payroll and \u00a0
\n\t\t\t\t\trelated expenses in the income statement\ufffd Actuarial gains and losses, including changes in value, both for assets and liabilities, are \u00a0
\n\t\t\t\t\trecognised through other comprehensive income. Actuarial gains and losses are not reclassi\ufb01ed over pro\ufb01t and loss. \u00a0
\n\t\t\t\t\tGains or losses on the curtailment or settlement of a de\ufb01ned bene\ufb01t plan are recognised through pro\ufb01t and loss when the \u00a0
\n\t\t\t\t\tcurtailment or settlement occurs\ufffd \u00a0
\n\t\t\t\t\tA curtailment occurs when the group decides to make a material reduction in the number of employees covered by a plan or \u00a0
\n\t\t\t\t\tamends the terms of a de\ufb01ned bene\ufb01t plan, such that a considerable part of the current employees\u2019 future earnings will no longer \u00a0
\n\t\t\t\t\tqualify for bene\ufb01ts or will qualify only for reduced bene\ufb01ts. \u00a0
\n\t\t\t\t\tThe introduction of a new de\ufb01ned bene\ufb01t plan or an improvement to the current de\ufb01ned bene\ufb01t plan will lead to changes in \u00a0
\n\t\t\t\t\tthe pension liabilities. These will be charged to expenses in a straight line during the period until the effect of the change has \u00a0
\n\t\t\t\t\tbeen accrued. The introduction of new plans or changes to existing plans, which take place with retroactive effect so that the \u00a0
\n\t\t\t\t\temployees immediately accrue a paid-up policy (or a change in a paid-up policy) are recognised in the statement of comprehensive \u00a0
\n\t\t\t\t\tincome immediately\ufffd Gains or losses linked to curtailments or terminations of pension plans are recognised in the statement of \u00a0
\n\t\t\t\t\tcomprehensive income when they arise. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForEmployeeBenefitsExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXG6DK30",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact1524": {
"value": "PARENT \u00a0
\n\t\t\t\t\tGROUP \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t(Amounts in NOK 1 000) \u00a0
\n\t\t\t\t\tNote \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t28 250 \u00a0
\n\t\t\t\t\t27 129 \u00a0
\n\t\t\t\t\tSalaries and bonus \u00a0
\n\t\t\t\t\t6\ufffd2, 6\ufffd3 \u00a0
\n\t\t\t\t\t68 760 \u00a0
\n\t\t\t\t\t71 017 \u00a0
\n\t\t\t\t\t3 895 \u00a0
\n\t\t\t\t\t3 984 \u00a0
\n\t\t\t\t\tSocial security tax \u00a0
\n\t\t\t\t\t8 676 \u00a0
\n\t\t\t\t\t8 575 \u00a0
\n\t\t\t\t\t1 673 \u00a0
\n\t\t\t\t\t1 701 \u00a0
\n\t\t\t\t\tPension expense \u00a0
\n\t\t\t\t\t6\ufffd5 \u00a0
\n\t\t\t\t\t4 907 \u00a0
\n\t\t\t\t\t3 165 \u00a0
\n\t\t\t\t\t2 495 \u00a0
\n\t\t\t\t\t-1 487 \u00a0
\n\t\t\t\t\tShare based payment employees \u00a0
\n\t\t\t\t\t6\ufffd3 \u00a0
\n\t\t\t\t\t-4 209 \u00a0
\n\t\t\t\t\t6 313 \u00a0
\n\t\t\t\t\t539 \u00a0
\n\t\t\t\t\t-869 \u00a0
\n\t\t\t\t\tAccrued employer's social security on share based payment \u00a0
\n\t\t\t\t\t6\ufffd3 \u00a0
\n\t\t\t\t\t-1 640 \u00a0
\n\t\t\t\t\t1 000 \u00a0
\n\t\t\t\t\t850 \u00a0
\n\t\t\t\t\t498 \u00a0
\n\t\t\t\t\tOther \u00a0
\n\t\t\t\t\t2 244 \u00a0
\n\t\t\t\t\t2 020 \u00a0
\n\t\t\t\t\t-452 \u00a0
\n\t\t\t\t\t-211 \u00a0
\n\t\t\t\t\tGovernment grants \u00a0
\n\t\t\t\t\t3\ufffd3 \u00a0
\n\t\t\t\t\t-211 \u00a0
\n\t\t\t\t\t-452 \u00a0
\n\t\t\t\t\t37 250 \u00a0
\n\t\t\t\t\t30 745 \u00a0
\n\t\t\t\t\tTotal payroll and related expenses \u00a0
\n\t\t\t\t\t78 527 \u00a0
\n\t\t\t\t\t91 638 \u00a0
22\ufffd3 \u00a0
\n\t\t\t\t\t21\ufffd4 \u00a0
\n\t\t\t\t\tAverage number of full-time equivalent employees \u00a0
\n\t\t\t\t\t35\ufffd9 \u00a0
\n\t\t\t\t\t38\ufffd9 \u00a0
As per 31 December 2022 \u00a0
\n\t\t\t\t\tNumber \u00a0
\n\t\t\t\t\tRemuneration \u00a0
\n\t\t\t\t\tAllocation Remuneration \u00a0
\n\t\t\t\t\tNumber of \u00a0
\n\t\t\t\t\tMarket \u00a0
\n\t\t\t\t\tof RSUs
Tot number \u00a0
\n\t\t\t\t\tfor the period \u00a0
\n\t\t\t\t\tbetween for the period \u00a0
\n\t\t\t\t\tRSUs for \u00a0
\n\t\t\t\t\tprice on \u00a0
\n\t\t\t\t\texercised/ of RSUs \u00a0
\n\t\t\t\t\t2022-2023 \u00a0
\n\t\t\t\t\tcash and \u00a0
\n\t\t\t\t\t2022-2023 \u00a0
\n\t\t\t\t\tthe period
grant date7) \u00a0
\n\t\t\t\t\tsettled outstanding \u00a0
\n\t\t\t\t\tName \u00a0
\n\t\t\t\t\tin NOK \u00a0
\n\t\t\t\t\tRSUs \u00a0
\n\t\t\t\t\tin cash \u00a0
\n\t\t\t\t\t2022-2023 \u00a0
\n\t\t\t\t\tin NOK \u00a0
\n\t\t\t\t\tin 20228) 31 Dec 2022 \u00a0
\n\t\t\t\t\tJan H. Egberts1) \u00a0
\n\t\t\t\t\t640 000 \u00a0
\n\t\t\t\t\t1/3 RSU \u00a0
\n\t\t\t\t\t426 667 \u00a0
\n\t\t\t\t\t14 939 \u00a0
\n\t\t\t\t\t14,28 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t39 593 \u00a0
\n\t\t\t\t\tJoanna Horobin2) \u00a0
\n\t\t\t\t\t390 000 \u00a0
\n\t\t\t\t\t1/3 RSU \u00a0
\n\t\t\t\t\t260 000 \u00a0
\n\t\t\t\t\t9 103 \u00a0
\n\t\t\t\t\t14,28 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t13 905 \u00a0
\n\t\t\t\t\tKarin Meyer3) \u00a0
\n\t\t\t\t\t370 000 \u00a0
\n\t\t\t\t\t1/3 RSU \u00a0
\n\t\t\t\t\t246 667 \u00a0
\n\t\t\t\t\t8 636 \u00a0
\n\t\t\t\t\t14,28 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t18 817 \u00a0
\n\t\t\t\t\tFormer members of the board \u00a0
\n\t\t\t\t\tJean-Pierre Bizzari4) \u00a0
\n\t\t\t\t\t370 000 \u00a0
\n\t\t\t\t\t1/3 RSU \u00a0
\n\t\t\t\t\t246 667 \u00a0
\n\t\t\t\t\t8 636 \u00a0
\n\t\t\t\t\t14,28 \u00a0
\n\t\t\t\t\t8 712 \u00a0
\n\t\t\t\t\t-
\n\t\t\t\t\tThomas Ramdahl5) \u00a0
\n\t\t\t\t\t350 000 \u00a0
\n\t\t\t\t\t1/3 RSU \u00a0
\n\t\t\t\t\t233 333 \u00a0
\n\t\t\t\t\t8 169 \u00a0
\n\t\t\t\t\t14,28 \u00a0
\n\t\t\t\t\t3 443 \u00a0
\n\t\t\t\t\t-
\n\t\t\t\t\tSolveig Hellebust6) \u00a0
\n\t\t\t\t\t370 000
100% RSU \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t25 910 \u00a0
\n\t\t\t\t\t14,28 \u00a0
\n\t\t\t\t\t24 797 \u00a0
\n\t\t\t\t\t-
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\t2 490 000 \u00a0
\n\t\t\t\t\t1 413 333 \u00a0
\n\t\t\t\t\t75 393 \u00a0
\n\t\t\t\t\t36 952 \u00a0
\n\t\t\t\t\t72 315 \u00a0
1) NOK 600 000 as chairman of the board, NOK 20 000 as a member of the audit committee and NOK 20 000 as member of the compensation committee. \u00a0
\n\t\t\t\t\t2) NOK 330 000 as board member, NOK 20 000 as member of the audit committee, NOK 20 000 as member of the compensation committee and NOK 20 000 \u00a0
\n\t\t\t\t\tas member of the clinical committee. \u00a0
\n\t\t\t\t\t3) NOK 330 000 as board member and NOK 40 000 as chair of the audit commitee. \u00a0
\n\t\t\t\t\t4) NOK 330 000 as board member and NOK 40 000 as chair of the clinical committee. \u00a0
\n\t\t\t\t\t5) NOK 330 000 as board member and NOK 20,000 as member of the clinical committee. \u00a0
\n\t\t\t\t\t6) NOK 330,000 as board member and NOK 40,000 as chair of the compensation committee. \u00a0
\n\t\t\t\t\t7) The market price is calculated as volume weighted average share price the 10 trading days prior to the date of the AGM on 28 April 2022, i.e. NOK 14.28. \u00a0
\n\t\t\t\t\t8) The company also settled previous board member Rainer Boehm\u2019s 15 824 vested RSUs. See table below for details about the settlement. \u00a0
6\ufffd4 REMUNERATION
TO THE BOARD \u00a0
The AGM held on 28 April 2022 resolved remuneration to the board and the nomination committee for the period from the 2022 \u00a0
\n\t\t\t\t\tAGM until the AGM in 2023 as shown in the table below. On 15 September 2022 the company announced that following the \u00a0
\n\t\t\t\t\tdecision to discontinue the PARADIGME study three board members had decided to step down. Solveig Hellebust, Jean Pierre \u00a0
\n\t\t\t\t\tBizzari and Thomas Ramdahl left the company\u2019s board with immediate effect. For the remainder of 2022 the board consisted of \u00a0
\n\t\t\t\t\tJan H. Egberts (Chair), Joanna Horobin and Karin Meyer. At the same time the compensation-, audit- and clinical committee\u2019s \u00a0
\n\t\t\t\t\ttasks were moved to the remaining board. \u00a0
\n\t\t\t\t\tBoard of \u00a0
\n\t\t\t\t\tAudit \u00a0
\n\t\t\t\t\tCompensation \u00a0
\n\t\t\t\t\tClinical \u00a0
\n\t\t\t\t\tNomination \u00a0
\n\t\t\t\t\t(Amounts in NOK 1 000, \u00a0
\n\t\t\t\t\texclusive of social security) \u00a0
\n\t\t\t\t\tdirectors \u00a0
\n\t\t\t\t\tcommittee \u00a0
\n\t\t\t\t\tcommittee \u00a0
\n\t\t\t\t\tcommittee \u00a0
\n\t\t\t\t\tcommittee \u00a0
\n\t\t\t\t\tChair \u00a0
\n\t\t\t\t\t600 \u00a0
\n\t\t\t\t\t40 \u00a0
\n\t\t\t\t\t40 \u00a0
\n\t\t\t\t\t40 \u00a0
\n\t\t\t\t\t45 \u00a0
\n\t\t\t\t\tMembers \u00a0
\n\t\t\t\t\t330 \u00a0
\n\t\t\t\t\t20 \u00a0
\n\t\t\t\t\t20 \u00a0
\n\t\t\t\t\t20 \u00a0
\n\t\t\t\t\t25 \u00a0
\n\t\t\t\t\tBoard of directors and their roles \u00a0
\n\t\t\t\t\tBoard of \u00a0
\n\t\t\t\t\tAudit \u00a0
\n\t\t\t\t\tCompensation \u00a0
\n\t\t\t\t\tClinical \u00a0
\n\t\t\t\t\tBoard member \u00a0
\n\t\t\t\t\tdirectors \u00a0
\n\t\t\t\t\tcommittee \u00a0
\n\t\t\t\t\tcommittee \u00a0
\n\t\t\t\t\tcommittee \u00a0
\n\t\t\t\t\tJan H\ufffd Egberts \u00a0
\n\t\t\t\t\tChair \u00a0
\n\t\t\t\t\tMember \u00a0
\n\t\t\t\t\tMember \u00a0
\n\t\t\t\t\tKarin Meyer \u00a0
\n\t\t\t\t\tMember \u00a0
\n\t\t\t\t\tChair \u00a0
\n\t\t\t\t\tJoanna Horobin \u00a0
\n\t\t\t\t\tMember \u00a0
\n\t\t\t\t\tMember \u00a0
\n\t\t\t\t\tMember \u00a0
\n\t\t\t\t\tMember \u00a0
\n\t\t\t\t\tJean-Pierre Bizzari 1) \u00a0
\n\t\t\t\t\tMember \u00a0
\n\t\t\t\t\tChair \u00a0
\n\t\t\t\t\tThomas Ramdahl 1) \u00a0
\n\t\t\t\t\tMember \u00a0
\n\t\t\t\t\tMember \u00a0
\n\t\t\t\t\tSolveig Hellebust 1) \u00a0
\n\t\t\t\t\tMember \u00a0
\n\t\t\t\t\tChair \u00a0
\n\t\t\t\t\t1) Board member until September 2022 \u00a0
Members of the board committees, such as the audit committee, the compensation committee and the clinical committee shall re- \u00a0
\n\t\t\t\t\tceive remuneration of NOK 4 000 per committee meeting, but not less than NOK 20 000 for each committee member\ufffd The chair of \u00a0
\n\t\t\t\t\teach committee will receive NOK 8 000 per meeting and minimum NOK 40 000. In order to attract international board members, it \u00a0
\n\t\t\t\t\twas approved to pay board members EUR 100 per lost working hour when traveling to attend board meetings. \u00a0
\n\t\t\t\t\tAt the 2022 AGM, the shareholders approved the issuance of restricted stock units (RSUs) to board members, who elected to re- \u00a0
\n\t\t\t\t\tceive all or parts of their remuneration in the form of RSUs. The board members\u2018 election of RSUs as part of their remuneration is \u00a0
\n\t\t\t\t\tdisclosed in note 6\ufffd3\ufffd2\ufffd \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfInformationAboutEmployeesExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXG6DK30",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact1531": {
"value": "Accounting policy \u00a0
\n\t\t\t\t\tGovernment grants are recognised where there is reasonable assurance that the grant will be received and all attached conditions \u00a0
\n\t\t\t\t\twill be complied with. The grant is recognised in the income statement in the same period as the related costs, which are presented \u00a0
\n\t\t\t\t\tnet\ufffd \u00a0
\n\t\t\t\t\tGovernment grants are normally related to either reimbursements of employee costs and classi\ufb01ed as a reduction of payroll and \u00a0
\n\t\t\t\t\trelated expenses or related to other operating activities and thus classi\ufb01ed as a reduction of other operating expenses. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForGovernmentGrants",
"language": "en",
"entity": "scheme:5967007LIEEXZXG6DK30",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact1532": {
"value": "3.4 OTHER
CURRENT RECEIVABLES AND PREPAYMENTS \u00a0
Accounting policy \u00a0
\n\t\t\t\t\tIn determining the recoverability of other receivable, the company performs a risk analysis considering the type and the age of the \u00a0
\n\t\t\t\t\toutstanding receivable and the creditworthiness of the counterparties. \u00a0
PARENT \u00a0
\n\t\t\t\t\tGROUP \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\tNote \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t(Amounts in NOK 1 000) \u00a0
\n\t\t\t\t\t4 750 \u00a0
\n\t\t\t\t\t4 750 \u00a0
\n\t\t\t\t\tGovernment grants \u00a0
\n\t\t\t\t\t3\ufffd3 \u00a0
\n\t\t\t\t\t4 750 \u00a0
\n\t\t\t\t\t4 750 \u00a0
\n\t\t\t\t\t4 163 \u00a0
\n\t\t\t\t\t2 732 \u00a0
\n\t\t\t\t\tRefundable VAT \u00a0
\n\t\t\t\t\t2 906 \u00a0
\n\t\t\t\t\t4 182 \u00a0
\n\t\t\t\t\t1 956 \u00a0
\n\t\t\t\t\t641 \u00a0
\n\t\t\t\t\tPrepaid expenses \u00a0
\n\t\t\t\t\t877 \u00a0
\n\t\t\t\t\t2 182 \u00a0
\n\t\t\t\t\t1 548 \u00a0
\n\t\t\t\t\t1 548 \u00a0
\n\t\t\t\t\tRental deposits \u00a0
\n\t\t\t\t\t1 588 \u00a0
\n\t\t\t\t\t1 576 \u00a0
\n\t\t\t\t\t101 \u00a0
\n\t\t\t\t\t15 \u00a0
\n\t\t\t\t\tOther receivables \u00a0
\n\t\t\t\t\t271 \u00a0
\n\t\t\t\t\t333 \u00a0
\n\t\t\t\t\t12 518 \u00a0
\n\t\t\t\t\t9 686 \u00a0
\n\t\t\t\t\tOther current receivables and prepayments 31.12 \u00a0
\n\t\t\t\t\t10 392 \u00a0
\n\t\t\t\t\t13 023 \u00a0
GROUP \u00a0
\n\t\t\t\t\t31\ufffd12\ufffd2022 \u00a0
\n\t\t\t\t\t31\ufffd12\ufffd2021 \u00a0
Financial assets \u00a0
\n\t\t\t\t\tFinancial assets \u00a0
\n\t\t\t\t\tat amortised \u00a0
\n\t\t\t\t\tOther \u00a0
\n\t\t\t\t\tat amortised \u00a0
\n\t\t\t\t\tOther \u00a0
\n\t\t\t\t\t(Amounts in NOK 1 000) \u00a0
\n\t\t\t\t\tNote \u00a0
\n\t\t\t\t\tcosts \u00a0
\n\t\t\t\t\tliabilities \u00a0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\tcosts \u00a0
\n\t\t\t\t\tliabilities \u00a0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\tASSETS \u00a0
\n\t\t\t\t\tCash and cash equivalents \u00a0
\n\t\t\t\t\t5\ufffd3 \u00a0
\n\t\t\t\t\t98 716 \u00a0
\n\t\t\t\t\t98 716 \u00a0
\n\t\t\t\t\t277 706 \u00a0
\n\t\t\t\t\t277 706 \u00a0
\n\t\t\t\t\tOther current receivables \u00a0
\n\t\t\t\t\tand prepayments \u00a0
\n\t\t\t\t\t3\ufffd3, 3\ufffd4 \u00a0
\n\t\t\t\t\t10 392 \u00a0
\n\t\t\t\t\t10 392 \u00a0
\n\t\t\t\t\t13 023 \u00a0
\n\t\t\t\t\t13 023 \u00a0
\n\t\t\t\t\tTotal \ufb01nancial assets \u00a0
\n\t\t\t\t\t109 108 \u00a0
\n\t\t\t\t\t109 108 \u00a0
\n\t\t\t\t\t290 729 \u00a0
\n\t\t\t\t\t290 729 \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfTradeAndOtherReceivablesExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXG6DK30",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact1537": {
"value": "3.4 OTHER
CURRENT RECEIVABLES AND PREPAYMENTS \u00a0
PARENT \u00a0
\n\t\t\t\t\tGROUP \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\tNote \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t(Amounts in NOK 1 000) \u00a0
\n\t\t\t\t\t4 750 \u00a0
\n\t\t\t\t\t4 750 \u00a0
\n\t\t\t\t\tGovernment grants \u00a0
\n\t\t\t\t\t3\ufffd3 \u00a0
\n\t\t\t\t\t4 750 \u00a0
\n\t\t\t\t\t4 750 \u00a0
\n\t\t\t\t\t4 163 \u00a0
\n\t\t\t\t\t2 732 \u00a0
\n\t\t\t\t\tRefundable VAT \u00a0
\n\t\t\t\t\t2 906 \u00a0
\n\t\t\t\t\t4 182 \u00a0
\n\t\t\t\t\t1 956 \u00a0
\n\t\t\t\t\t641 \u00a0
\n\t\t\t\t\tPrepaid expenses \u00a0
\n\t\t\t\t\t877 \u00a0
\n\t\t\t\t\t2 182 \u00a0
\n\t\t\t\t\t1 548 \u00a0
\n\t\t\t\t\t1 548 \u00a0
\n\t\t\t\t\tRental deposits \u00a0
\n\t\t\t\t\t1 588 \u00a0
\n\t\t\t\t\t1 576 \u00a0
\n\t\t\t\t\t101 \u00a0
\n\t\t\t\t\t15 \u00a0
\n\t\t\t\t\tOther receivables \u00a0
\n\t\t\t\t\t271 \u00a0
\n\t\t\t\t\t333 \u00a0
\n\t\t\t\t\t12 518 \u00a0
\n\t\t\t\t\t9 686 \u00a0
\n\t\t\t\t\tOther current receivables and prepayments 31.12 \u00a0
\n\t\t\t\t\t10 392 \u00a0
\n\t\t\t\t\t13 023 \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfPrepaymentsAndOtherAssetsExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXG6DK30",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact1539": {
"value": "Accounting policy \u00a0
\n\t\t\t\t\tIn determining the recoverability of other receivable, the company performs a risk analysis considering the type and the age of the \u00a0
\n\t\t\t\t\toutstanding receivable and the creditworthiness of the counterparties. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForTradeAndOtherReceivablesExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXG6DK30",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact1540": {
"value": "3\ufffd6 OTHER
CURRENT LIABILITIES \u00a0
Accounting policy \u00a0
\n\t\t\t\t\tOther liabilities are classi\ufb01ed as current liabilities if payment is due within one year or less (or in the normal operating cycle of \u00a0
\n\t\t\t\t\tthe business if longer). If not, they are presented as non-current liabilities. Accounts payable and other \ufb01nancial liabilities are \u00a0
\n\t\t\t\t\trecognised initially at fair value and subsequently measured at amortised cost using the effective interest method\ufffd \u00a0
\n\t\t\t\t\tRestructuring provisions are recognised only when the group has a constructive obligation, which is when there is a detailed formal \u00a0
\n\t\t\t\t\tplan that identi\ufb01es the business or part of the business concerned, the location and number of employees affected, the detailed \u00a0
\n\t\t\t\t\testimate of the associated costs, and the timeline; and the employees affected have been noti\ufb01ed of the plan\u2019s main features. \u00a0
PARENT \u00a0
\n\t\t\t\t\tGROUP \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\tNote \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t(Amounts in NOK 1 000) \u00a0
\n\t\t\t\t\t2 213 \u00a0
\n\t\t\t\t\t3 098 \u00a0
\n\t\t\t\t\tUnpaid duties and charges \u00a0
\n\t\t\t\t\t3 483 \u00a0
\n\t\t\t\t\t2 844 \u00a0
\n\t\t\t\t\t2 388 \u00a0
\n\t\t\t\t\t1 425 \u00a0
\n\t\t\t\t\tUnpaid vacation pay \u00a0
\n\t\t\t\t\t1 425 \u00a0
\n\t\t\t\t\t2 919 \u00a0
\n\t\t\t\t\tAccrued social security related to outstanding \u00a0
\n\t\t\t\t\t878 \u00a0
\n\t\t\t\t\t9
\n\t\t\t\t\t9
\n\t\t\t\t\t1 649 \u00a0
\n\t\t\t\t\tnon exercised options, PSUs and RSUs \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t16 409 \u00a0
\n\t\t\t\t\tRestructuring costs \u00a0
\n\t\t\t\t\t25 022 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t60 574 \u00a0
\n\t\t\t\t\t4 233 \u00a0
\n\t\t\t\t\tOther accrued costs \u00a0
\n\t\t\t\t\t4 333 \u00a0
\n\t\t\t\t\t71 747 \u00a0
\n\t\t\t\t\t66 053 \u00a0
\n\t\t\t\t\t25 174 \u00a0
\n\t\t\t\t\tOther current liabilities 31.12 \u00a0
\n\t\t\t\t\t34 272 \u00a0
\n\t\t\t\t\t79 159 \u00a0
Social security contributions on share options \u00a0
\n\t\t\t\t\tThe provision for social security contributions on share options, PSUs and RSUs are calculated based on the number of options \u00a0
\n\t\t\t\t\tand PSUs outstanding at the reporting date that are expected to be exercised\ufffd The provision is based on market price of the shares \u00a0
\n\t\t\t\t\tat the reporting date 31 December 2022 of NOK 1.17 per share (2021: NOK 23.04 per share), which is the best estimate of the \u00a0
\n\t\t\t\t\tmarket price at the date of exercise\ufffd \u00a0
\n\t\t\t\t\tOther accrued costs \u00a0
\n\t\t\t\t\tOther accrued costs for period ended 31 December 2022 are mainly related to closing down of the Paradigme trial and the \u00a0
\n\t\t\t\t\trestructuring of the group\ufffd \u00a0
\n\t\t\t\t\tRestructuring provision \u00a0
\n\t\t\t\t\tFollowing the decision to discontinue PARADIGME in July 2022, the company decided to implement a restructuring of the company \u00a0
\n\t\t\t\t\twith immediate effect with the purpose of reducing costs where necessary to enable support of essential activities associated with \u00a0
\n\t\t\t\t\tdevelopment of the pipeline\ufffd The company recorded a restructuring provision on 31 December 2022\ufffd The total provision is mainly \u00a0
\n\t\t\t\t\trelated to contractual binding settlement agreements with CROs and suppliers which has contributed in- or to the wrap-up of the \u00a0
\n\t\t\t\t\tstudy and employees in termination. Total restructuring provision in the group as per 31 December 2022 was NOK 25.0 million and \u00a0
\n\t\t\t\t\tis included as other current liabilities in the statement of \ufb01nancial position in the group. In the parent the total provision was NOK \u00a0
\n\t\t\t\t\t25.0 million whereas NOK 16.4 million is classi\ufb01ed as other current liabilities and NOK 8.6 million as intercompany liabilities in the \u00a0
\n\t\t\t\t\tstatement of \ufb01nancial position. \u00a0
\n\t\t\t\t\tNordic Nanovector has appointed Carnegie Investment Bank to explore strategic options for the company to optimise \u00a0
\n\t\t\t\t\tshareholder value\ufffd The engagement is agreed to be on \u201cno-cure \u2013 no pay\u201d terms\ufffd If a transaction is completed Carnegie is entitled \u00a0
\n\t\t\t\t\tto a payment as agreed in the contract. As per 31 December 2022, no provision has been made as the proposed transaction was \u00a0
\n\t\t\t\t\tvoted down on the extraordinary assembly 1 December 2022. \u00a0
5\ufffd4 CURRENT
LIABILITIES \u00a0
The table below summarises the maturity pro\ufb01le of the group\u2019s \ufb01nancial liabilities based on contractual undiscounted payments: \u00a0
\n\t\t\t\t\tAs per 31 December 2022 \u00a0
\n\t\t\t\t\tGROUP \u00a0
\n\t\t\t\t\tOn Less
than \u00a0
\n\t\t\t\t\t3 to 12 \u00a0
\n\t\t\t\t\t(Amounts in NOK 1 000) \u00a0
\n\t\t\t\t\tdemand \u00a0
\n\t\t\t\t\t3 months \u00a0
\n\t\t\t\t\tmonths \u00a0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\tAccounts payable \u00a0
\n\t\t\t\t\t9 093 \u00a0
\n\t\t\t\t\t9 093 \u00a0
\n\t\t\t\t\tUnpaid duties and charges \u00a0
\n\t\t\t\t\t3 483 \u00a0
\n\t\t\t\t\t3 483 \u00a0
\n\t\t\t\t\tUnpaid vacation pay \u00a0
\n\t\t\t\t\t1 425 \u00a0
\n\t\t\t\t\t1 425 \u00a0
\n\t\t\t\t\tTax payable \u00a0
\n\t\t\t\t\t759 \u00a0
\n\t\t\t\t\t759 \u00a0
\n\t\t\t\t\tAccrued social security expenses related to outstanding \u00a0
\n\t\t\t\t\tnon exercised options, PSUs and RSUs1) \u00a0
\n\t\t\t\t\t9
\n\t\t\t\t\t9
\n\t\t\t\t\tLease liabilities \u00a0
\n\t\t\t\t\t27 \u00a0
\n\t\t\t\t\t132 \u00a0
\n\t\t\t\t\t159 \u00a0
\n\t\t\t\t\tOther accrued costs \u00a0
\n\t\t\t\t\t18 117 \u00a0
\n\t\t\t\t\t11 238 \u00a0
\n\t\t\t\t\t29 355 \u00a0
\n\t\t\t\t\tTotal current liabilities 31.12.22 \u00a0
\n\t\t\t\t\t9
\n\t\t\t\t\t30 720 \u00a0
\n\t\t\t\t\t13 554 \u00a0
\n\t\t\t\t\t44 283 \u00a0
As per 31 December 2021 \u00a0
\n\t\t\t\t\tGROUP \u00a0
\n\t\t\t\t\tOn Less
than \u00a0
\n\t\t\t\t\t3 to 12 \u00a0
\n\t\t\t\t\t(Amounts in NOK 1 000) \u00a0
\n\t\t\t\t\tdemand \u00a0
\n\t\t\t\t\t3 months \u00a0
\n\t\t\t\t\tmonths \u00a0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\tAccounts payable \u00a0
\n\t\t\t\t\t65 960 \u00a0
\n\t\t\t\t\t65 960 \u00a0
\n\t\t\t\t\tUnpaid duties and charges \u00a0
\n\t\t\t\t\t2 844 \u00a0
\n\t\t\t\t\t2 844 \u00a0
\n\t\t\t\t\tUnpaid vacation pay \u00a0
\n\t\t\t\t\t2 919 \u00a0
\n\t\t\t\t\t2 919 \u00a0
\n\t\t\t\t\tTax payable \u00a0
\n\t\t\t\t\t1 068 \u00a0
\n\t\t\t\t\t1 068 \u00a0
\n\t\t\t\t\tAccrued social security related to outstanding non exercised options, \u00a0
\n\t\t\t\t\tPSUs and RSUs *) \u00a0
\n\t\t\t\t\t1 649 \u00a0
\n\t\t\t\t\t1 649 \u00a0
\n\t\t\t\t\tLease liabilities \u00a0
\n\t\t\t\t\t2 931 \u00a0
\n\t\t\t\t\t2 577 \u00a0
\n\t\t\t\t\t5 508 \u00a0
\n\t\t\t\t\tOther accrued costs \u00a0
\n\t\t\t\t\t67 260 \u00a0
\n\t\t\t\t\t4 487 \u00a0
\n\t\t\t\t\t71 747 \u00a0
\n\t\t\t\t\tTotal current liabilities 31.12.21 \u00a0
\n\t\t\t\t\t1 649 \u00a0
\n\t\t\t\t\t138 995 \u00a0
\n\t\t\t\t\t11 051 \u00a0
\n\t\t\t\t\t151 695 \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfOtherCurrentLiabilitiesExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXG6DK30",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact1547": {
"value": "3\ufffd6 OTHER
CURRENT LIABILITIES \u00a0
Accounting policy \u00a0
\n\t\t\t\t\tOther liabilities are classi\ufb01ed as current liabilities if payment is due within one year or less (or in the normal operating cycle of \u00a0
\n\t\t\t\t\tthe business if longer). If not, they are presented as non-current liabilities. Accounts payable and other \ufb01nancial liabilities are \u00a0
\n\t\t\t\t\trecognised initially at fair value and subsequently measured at amortised cost using the effective interest method\ufffd \u00a0
\n\t\t\t\t\tRestructuring provisions are recognised only when the group has a constructive obligation, which is when there is a detailed formal \u00a0
\n\t\t\t\t\tplan that identi\ufb01es the business or part of the business concerned, the location and number of employees affected, the detailed \u00a0
\n\t\t\t\t\testimate of the associated costs, and the timeline; and the employees affected have been noti\ufb01ed of the plan\u2019s main features. \u00a0
PARENT \u00a0
\n\t\t\t\t\tGROUP \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\tNote \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t(Amounts in NOK 1 000) \u00a0
\n\t\t\t\t\t2 213 \u00a0
\n\t\t\t\t\t3 098 \u00a0
\n\t\t\t\t\tUnpaid duties and charges \u00a0
\n\t\t\t\t\t3 483 \u00a0
\n\t\t\t\t\t2 844 \u00a0
\n\t\t\t\t\t2 388 \u00a0
\n\t\t\t\t\t1 425 \u00a0
\n\t\t\t\t\tUnpaid vacation pay \u00a0
\n\t\t\t\t\t1 425 \u00a0
\n\t\t\t\t\t2 919 \u00a0
\n\t\t\t\t\tAccrued social security related to outstanding \u00a0
\n\t\t\t\t\t878 \u00a0
\n\t\t\t\t\t9
\n\t\t\t\t\t9
\n\t\t\t\t\t1 649 \u00a0
\n\t\t\t\t\tnon exercised options, PSUs and RSUs \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t16 409 \u00a0
\n\t\t\t\t\tRestructuring costs \u00a0
\n\t\t\t\t\t25 022 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t60 574 \u00a0
\n\t\t\t\t\t4 233 \u00a0
\n\t\t\t\t\tOther accrued costs \u00a0
\n\t\t\t\t\t4 333 \u00a0
\n\t\t\t\t\t71 747 \u00a0
\n\t\t\t\t\t66 053 \u00a0
\n\t\t\t\t\t25 174 \u00a0
\n\t\t\t\t\tOther current liabilities 31.12 \u00a0
\n\t\t\t\t\t34 272 \u00a0
\n\t\t\t\t\t79 159 \u00a0
Social security contributions on share options \u00a0
\n\t\t\t\t\tThe provision for social security contributions on share options, PSUs and RSUs are calculated based on the number of options \u00a0
\n\t\t\t\t\tand PSUs outstanding at the reporting date that are expected to be exercised\ufffd The provision is based on market price of the shares \u00a0
\n\t\t\t\t\tat the reporting date 31 December 2022 of NOK 1.17 per share (2021: NOK 23.04 per share), which is the best estimate of the \u00a0
\n\t\t\t\t\tmarket price at the date of exercise\ufffd \u00a0
\n\t\t\t\t\tOther accrued costs \u00a0
\n\t\t\t\t\tOther accrued costs for period ended 31 December 2022 are mainly related to closing down of the Paradigme trial and the \u00a0
\n\t\t\t\t\trestructuring of the group\ufffd \u00a0
\n\t\t\t\t\tRestructuring provision \u00a0
\n\t\t\t\t\tFollowing the decision to discontinue PARADIGME in July 2022, the company decided to implement a restructuring of the company \u00a0
\n\t\t\t\t\twith immediate effect with the purpose of reducing costs where necessary to enable support of essential activities associated with \u00a0
\n\t\t\t\t\tdevelopment of the pipeline\ufffd The company recorded a restructuring provision on 31 December 2022\ufffd The total provision is mainly \u00a0
\n\t\t\t\t\trelated to contractual binding settlement agreements with CROs and suppliers which has contributed in- or to the wrap-up of the \u00a0
\n\t\t\t\t\tstudy and employees in termination. Total restructuring provision in the group as per 31 December 2022 was NOK 25.0 million and \u00a0
\n\t\t\t\t\tis included as other current liabilities in the statement of \ufb01nancial position in the group. In the parent the total provision was NOK \u00a0
\n\t\t\t\t\t25.0 million whereas NOK 16.4 million is classi\ufb01ed as other current liabilities and NOK 8.6 million as intercompany liabilities in the \u00a0
\n\t\t\t\t\tstatement of \ufb01nancial position. \u00a0
\n\t\t\t\t\tNordic Nanovector has appointed Carnegie Investment Bank to explore strategic options for the company to optimise \u00a0
\n\t\t\t\t\tshareholder value\ufffd The engagement is agreed to be on \u201cno-cure \u2013 no pay\u201d terms\ufffd If a transaction is completed Carnegie is entitled \u00a0
\n\t\t\t\t\tto a payment as agreed in the contract. As per 31 December 2022, no provision has been made as the proposed transaction was \u00a0
\n\t\t\t\t\tvoted down on the extraordinary assembly 1 December 2022. \u00a0
5\ufffd4 CURRENT
LIABILITIES \u00a0
The table below summarises the maturity pro\ufb01le of the group\u2019s \ufb01nancial liabilities based on contractual undiscounted payments: \u00a0
\n\t\t\t\t\tAs per 31 December 2022 \u00a0
\n\t\t\t\t\tGROUP \u00a0
\n\t\t\t\t\tOn Less
than \u00a0
\n\t\t\t\t\t3 to 12 \u00a0
\n\t\t\t\t\t(Amounts in NOK 1 000) \u00a0
\n\t\t\t\t\tdemand \u00a0
\n\t\t\t\t\t3 months \u00a0
\n\t\t\t\t\tmonths \u00a0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\tAccounts payable \u00a0
\n\t\t\t\t\t9 093 \u00a0
\n\t\t\t\t\t9 093 \u00a0
\n\t\t\t\t\tUnpaid duties and charges \u00a0
\n\t\t\t\t\t3 483 \u00a0
\n\t\t\t\t\t3 483 \u00a0
\n\t\t\t\t\tUnpaid vacation pay \u00a0
\n\t\t\t\t\t1 425 \u00a0
\n\t\t\t\t\t1 425 \u00a0
\n\t\t\t\t\tTax payable \u00a0
\n\t\t\t\t\t759 \u00a0
\n\t\t\t\t\t759 \u00a0
\n\t\t\t\t\tAccrued social security expenses related to outstanding \u00a0
\n\t\t\t\t\tnon exercised options, PSUs and RSUs1) \u00a0
\n\t\t\t\t\t9
\n\t\t\t\t\t9
\n\t\t\t\t\tLease liabilities \u00a0
\n\t\t\t\t\t27 \u00a0
\n\t\t\t\t\t132 \u00a0
\n\t\t\t\t\t159 \u00a0
\n\t\t\t\t\tOther accrued costs \u00a0
\n\t\t\t\t\t18 117 \u00a0
\n\t\t\t\t\t11 238 \u00a0
\n\t\t\t\t\t29 355 \u00a0
\n\t\t\t\t\tTotal current liabilities 31.12.22 \u00a0
\n\t\t\t\t\t9
\n\t\t\t\t\t30 720 \u00a0
\n\t\t\t\t\t13 554 \u00a0
\n\t\t\t\t\t44 283 \u00a0
As per 31 December 2021 \u00a0
\n\t\t\t\t\tGROUP \u00a0
\n\t\t\t\t\tOn Less
than \u00a0
\n\t\t\t\t\t3 to 12 \u00a0
\n\t\t\t\t\t(Amounts in NOK 1 000) \u00a0
\n\t\t\t\t\tdemand \u00a0
\n\t\t\t\t\t3 months \u00a0
\n\t\t\t\t\tmonths \u00a0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\tAccounts payable \u00a0
\n\t\t\t\t\t65 960 \u00a0
\n\t\t\t\t\t65 960 \u00a0
\n\t\t\t\t\tUnpaid duties and charges \u00a0
\n\t\t\t\t\t2 844 \u00a0
\n\t\t\t\t\t2 844 \u00a0
\n\t\t\t\t\tUnpaid vacation pay \u00a0
\n\t\t\t\t\t2 919 \u00a0
\n\t\t\t\t\t2 919 \u00a0
\n\t\t\t\t\tTax payable \u00a0
\n\t\t\t\t\t1 068 \u00a0
\n\t\t\t\t\t1 068 \u00a0
\n\t\t\t\t\tAccrued social security related to outstanding non exercised options, \u00a0
\n\t\t\t\t\tPSUs and RSUs *) \u00a0
\n\t\t\t\t\t1 649 \u00a0
\n\t\t\t\t\t1 649 \u00a0
\n\t\t\t\t\tLease liabilities \u00a0
\n\t\t\t\t\t2 931 \u00a0
\n\t\t\t\t\t2 577 \u00a0
\n\t\t\t\t\t5 508 \u00a0
\n\t\t\t\t\tOther accrued costs \u00a0
\n\t\t\t\t\t67 260 \u00a0
\n\t\t\t\t\t4 487 \u00a0
\n\t\t\t\t\t71 747 \u00a0
\n\t\t\t\t\tTotal current liabilities 31.12.21 \u00a0
\n\t\t\t\t\t1 649 \u00a0
\n\t\t\t\t\t138 995 \u00a0
\n\t\t\t\t\t11 051 \u00a0
\n\t\t\t\t\t151 695 \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfAccruedExpensesAndOtherLiabilitiesExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXG6DK30",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact1554": {
"value": "3\ufffd6 OTHER
CURRENT LIABILITIES \u00a0
PARENT \u00a0
\n\t\t\t\t\tGROUP \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\tNote \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t(Amounts in NOK 1 000) \u00a0
\n\t\t\t\t\t2 213 \u00a0
\n\t\t\t\t\t3 098 \u00a0
\n\t\t\t\t\tUnpaid duties and charges \u00a0
\n\t\t\t\t\t3 483 \u00a0
\n\t\t\t\t\t2 844 \u00a0
\n\t\t\t\t\t2 388 \u00a0
\n\t\t\t\t\t1 425 \u00a0
\n\t\t\t\t\tUnpaid vacation pay \u00a0
\n\t\t\t\t\t1 425 \u00a0
\n\t\t\t\t\t2 919 \u00a0
\n\t\t\t\t\tAccrued social security related to outstanding \u00a0
\n\t\t\t\t\t878 \u00a0
\n\t\t\t\t\t9
\n\t\t\t\t\t9
\n\t\t\t\t\t1 649 \u00a0
\n\t\t\t\t\tnon exercised options, PSUs and RSUs \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t16 409 \u00a0
\n\t\t\t\t\tRestructuring costs \u00a0
\n\t\t\t\t\t25 022 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t60 574 \u00a0
\n\t\t\t\t\t4 233 \u00a0
\n\t\t\t\t\tOther accrued costs \u00a0
\n\t\t\t\t\t4 333 \u00a0
\n\t\t\t\t\t71 747 \u00a0
\n\t\t\t\t\t66 053 \u00a0
\n\t\t\t\t\t25 174 \u00a0
\n\t\t\t\t\tOther current liabilities 31.12 \u00a0
\n\t\t\t\t\t34 272 \u00a0
\n\t\t\t\t\t79 159 \u00a0
Social security contributions on share options \u00a0
\n\t\t\t\t\tThe provision for social security contributions on share options, PSUs and RSUs are calculated based on the number of options \u00a0
\n\t\t\t\t\tand PSUs outstanding at the reporting date that are expected to be exercised\ufffd The provision is based on market price of the shares \u00a0
\n\t\t\t\t\tat the reporting date 31 December 2022 of NOK 1.17 per share (2021: NOK 23.04 per share), which is the best estimate of the \u00a0
\n\t\t\t\t\tmarket price at the date of exercise\ufffd \u00a0
\n\t\t\t\t\tOther accrued costs \u00a0
\n\t\t\t\t\tOther accrued costs for period ended 31 December 2022 are mainly related to closing down of the Paradigme trial and the \u00a0
\n\t\t\t\t\trestructuring of the group\ufffd \u00a0
\n\t\t\t\t\tRestructuring provision \u00a0
\n\t\t\t\t\tFollowing the decision to discontinue PARADIGME in July 2022, the company decided to implement a restructuring of the company \u00a0
\n\t\t\t\t\twith immediate effect with the purpose of reducing costs where necessary to enable support of essential activities associated with \u00a0
\n\t\t\t\t\tdevelopment of the pipeline\ufffd The company recorded a restructuring provision on 31 December 2022\ufffd The total provision is mainly \u00a0
\n\t\t\t\t\trelated to contractual binding settlement agreements with CROs and suppliers which has contributed in- or to the wrap-up of the \u00a0
\n\t\t\t\t\tstudy and employees in termination. Total restructuring provision in the group as per 31 December 2022 was NOK 25.0 million and \u00a0
\n\t\t\t\t\tis included as other current liabilities in the statement of \ufb01nancial position in the group. In the parent the total provision was NOK \u00a0
\n\t\t\t\t\t25.0 million whereas NOK 16.4 million is classi\ufb01ed as other current liabilities and NOK 8.6 million as intercompany liabilities in the \u00a0
\n\t\t\t\t\tstatement of \ufb01nancial position. \u00a0
\n\t\t\t\t\tNordic Nanovector has appointed Carnegie Investment Bank to explore strategic options for the company to optimise \u00a0
\n\t\t\t\t\tshareholder value\ufffd The engagement is agreed to be on \u201cno-cure \u2013 no pay\u201d terms\ufffd If a transaction is completed Carnegie is entitled \u00a0
\n\t\t\t\t\tto a payment as agreed in the contract. As per 31 December 2022, no provision has been made as the proposed transaction was \u00a0
\n\t\t\t\t\tvoted down on the extraordinary assembly 1 December 2022. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfProvisionsExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXG6DK30",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact1557": {
"value": "3\ufffd7 AUDITORS
FEE \u00a0
Accounting policy \u00a0
\n\t\t\t\t\tAuditors fee is expensed and recognised in the statement of pro\ufb01t and loss in the period which the related costs are incurred or \u00a0
\n\t\t\t\t\tservices are provided\ufffd Amounts are presented exclusive of VAT\ufffd \u00a0
Fees to auditors for the year ended 31 December \u00a0
\n\t\t\t\t\tPARENT \u00a0
\n\t\t\t\t\tGROUP \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t(Amounts in NOK 1 000) \u00a0
\n\t\t\t\t\t330 \u00a0
\n\t\t\t\t\t370 \u00a0
\n\t\t\t\t\tAudit fee \u00a0
\n\t\t\t\t\t423 \u00a0
\n\t\t\t\t\t378 \u00a0
\n\t\t\t\t\t66 \u00a0
\n\t\t\t\t\t535 \u00a0
\n\t\t\t\t\tAudit related work \u00a0
\n\t\t\t\t\t535 \u00a0
\n\t\t\t\t\t66 \u00a0
\n\t\t\t\t\t9
\n\t\t\t\t\t34 \u00a0
\n\t\t\t\t\tTax services \u00a0
\n\t\t\t\t\t34 \u00a0
\n\t\t\t\t\t9
\n\t\t\t\t\t405 \u00a0
\n\t\t\t\t\t939 \u00a0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\t992 \u00a0
\n\t\t\t\t\t453 \u00a0
\n\t\t\t\t\tAudit fee in the table above is the agreed audit fee for the accounting year and does not necessarily correspond to actual expensed \u00a0
\n\t\t\t\t\taudit fee for the period as some of the services performed incurred after year-end\ufffd \u00a0
\n\t\t\t\t\tAudit related work in 2022 was services due to the suggested merger with APIM Therapeutics AS. \u00a0
\n\t\t\t\t\tIn 2022 audit fees and non-audit services to auditors other than the group auditor was NOK 0.05 million and NOK 0.15 million \u00a0
\n\t\t\t\t\trespectively (2021: NOK 0\ufffd05 million and NOK 0\ufffd18 million respectively) \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfAuditorsRemunerationExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXG6DK30",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact1560": {
"value": "3\ufffd8 SEGMENTS
Accounting policy \u00a0
\n\t\t\t\t\tFor management purposes, the group is organised as one business unit and the internal reporting is structured in accordance \u00a0
\n\t\t\t\t\twith this. The group has thus only one operating segment. The Executive Leadership Team is the Chief Operating Decision Maker \u00a0
\n\t\t\t\t\t(CODM) and monitors the operating results for the purpose of making decisions about resource allocation and performance \u00a0
\n\t\t\t\t\tassessment\ufffd \u00a0
In the tables below non-current assets broken down by geographical areas based on the location of the companies: \u00a0
\n\t\t\t\t\tAs per 31 December 2022 \u00a0
\n\t\t\t\t\tAssets \u00a0
\n\t\t\t\t\tNorway \u00a0
\n\t\t\t\t\tSwitzerland \u00a0
\n\t\t\t\t\tUnited Kingdom \u00a0
\n\t\t\t\t\t(Amounts in NOK 1 000) \u00a0
\n\t\t\t\t\tNon-current assets \u00a0
\n\t\t\t\t\t537 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tAs per 31 December 2021 \u00a0
\n\t\t\t\t\tAssets \u00a0
\n\t\t\t\t\tNorway \u00a0
\n\t\t\t\t\tSwitzerland \u00a0
\n\t\t\t\t\tUnited Kingdom \u00a0
\n\t\t\t\t\t(Amounts in NOK 1 000) \u00a0
\n\t\t\t\t\tNon-current assets \u00a0
\n\t\t\t\t\t5 943 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfEntitysReportableSegmentsExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXG6DK30",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact1563": {
"value": "Accounting policy \u00a0
\n\t\t\t\t\tFor management purposes, the group is organised as one business unit and the internal reporting is structured in accordance \u00a0
\n\t\t\t\t\twith this. The group has thus only one operating segment. The Executive Leadership Team is the Chief Operating Decision Maker \u00a0
\n\t\t\t\t\t(CODM) and monitors the operating results for the purpose of making decisions about resource allocation and performance \u00a0
\n\t\t\t\t\tassessment\ufffd \u00a0
",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForSegmentReportingExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXG6DK30",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact1564": {
"value": "4.1 PROPERTY,
PLANT AND EQUIPMENT \u00a0
Accounting policy \u00a0
\n\t\t\t\t\tProperty, plant and equipment are carried at cost less accumulated depreciation and accumulated impairment losses\ufffd Acquisition \u00a0
\n\t\t\t\t\tcost includes expenditures that are directly attributable to the acquisition of the individual item\ufffd Property, plant and equipment \u00a0
\n\t\t\t\t\tare depreciated on a straight-line basis over the expected useful life of the asset. If signi\ufb01cant individual parts of the assets have \u00a0
\n\t\t\t\t\tdifferent useful lives, they are recognised and depreciated separately. Depreciation commences when the assets are ready for \u00a0
\n\t\t\t\t\ttheir intended use. The estimated useful lives of the assets are as follows: \u00a0
\n\t\t\t\t\t\u25cf Of\ufb01ce equipment: Two to three years \u00a0
\n\t\t\t\t\t\u25cf Laboratory equipment: Three to \ufb01ve years \u00a0
\n\t\t\t\t\t\u25cf Permanent building \ufb01xtures: Two to \ufb01ve years \u00a0
\n\t\t\t\t\t\u25cf Furniture and \ufb01ttings: Three to \ufb01ve years \u00a0
\n\t\t\t\t\t\u25cf Software: Three years \u00a0
\n\t\t\t\t\tThe estimated useful life of \ufb01xed assets related to the laboratory equipment, is based on the company\u2019s assessment of operational \u00a0
\n\t\t\t\t\trisk. Due to scienti\ufb01c and regulatory reasons there is a risk of termination of the projects. This has been taken into account when \u00a0
\n\t\t\t\t\tdetermining the estimated useful life of the individual assets\ufffd \u00a0
\n\t\t\t\t\tAn item of property, plant and equipment and any signi\ufb01cant part initially recognised is derecognised upon disposal or when no \u00a0
\n\t\t\t\t\tfuture economic bene\ufb01ts are expected from its use or disposal. Any gain or loss arising on derecognition of the asset (calculated as \u00a0
\n\t\t\t\t\tthe difference between the net disposal proceeds and the carrying amount of the asset) is included in the income statement when \u00a0
\n\t\t\t\t\tthe asset is derecognised\ufffd The residual values, useful lives and methods of depreciation of the property, plant and equipment are \u00a0
\n\t\t\t\t\treviewed at each \ufb01nancial year and adjusted prospectively, if appropriate. \u00a0
\n\t\t\t\t\tAll the \ufb01xed assets in the group are owned by Nordic Nanovector ASA, thus the disclosure for Nordic Nanovector ASA is identical \u00a0
\n\t\t\t\t\tto the disclosure for the group\ufffd \u00a0
PARENT \u00a0
\n\t\t\t\t\tPermanent \u00a0
\n\t\t\t\t\tLaboratory \u00a0
\n\t\t\t\t\tOf\ufb01ce \u00a0
\n\t\t\t\t\tbuilding \u00a0
\n\t\t\t\t\tFurniture & \u00a0
\n\t\t\t\t\tequipment \u00a0
\n\t\t\t\t\tequipment \u00a0
\n\t\t\t\t\t\ufb01xtures \u00a0
\n\t\t\t\t\t\ufb01ttings \u00a0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\t(Amounts in NOK 1 000) \u00a0
\n\t\t\t\t\tCost at 01\ufffd01\ufffd2021 \u00a0
\n\t\t\t\t\t3 917 \u00a0
\n\t\t\t\t\t3 095 \u00a0
\n\t\t\t\t\t4 027 \u00a0
\n\t\t\t\t\t1 408 \u00a0
\n\t\t\t\t\t12 447 \u00a0
\n\t\t\t\t\tAdditions in the year \u00a0
\n\t\t\t\t\t58 \u00a0
\n\t\t\t\t\t201 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t259 \u00a0
\n\t\t\t\t\tDisposals in the year \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\tCost at 31\ufffd12\ufffd2021 \u00a0
\n\t\t\t\t\t3 975 \u00a0
\n\t\t\t\t\t3 296 \u00a0
\n\t\t\t\t\t4 027 \u00a0
\n\t\t\t\t\t1 408 \u00a0
\n\t\t\t\t\t12 707 \u00a0
\n\t\t\t\t\tAdditions in the year \u00a0
\n\t\t\t\t\t5 503 \u00a0
\n\t\t\t\t\t125 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t5 628 \u00a0
\n\t\t\t\t\tDisposals in the year \u00a0
\n\t\t\t\t\t-5 503 \u00a0
\n\t\t\t\t\t-1 976 \u00a0
\n\t\t\t\t\t-7 479 \u00a0
\n\t\t\t\t\tCost at 31\ufffd12\ufffd2022 \u00a0
\n\t\t\t\t\t3 975 \u00a0
\n\t\t\t\t\t1 445 \u00a0
\n\t\t\t\t\t4 027 \u00a0
\n\t\t\t\t\t1 408 \u00a0
\n\t\t\t\t\t10 856 \u00a0
\n\t\t\t\t\tAccumulated depreciations 01.01.2021 \u00a0
\n\t\t\t\t\t2 876 \u00a0
\n\t\t\t\t\t2 847 \u00a0
\n\t\t\t\t\t3 949 \u00a0
\n\t\t\t\t\t1 381 \u00a0
\n\t\t\t\t\t11 053 \u00a0
\n\t\t\t\t\tDepreciations in the year \u00a0
\n\t\t\t\t\t551 \u00a0
\n\t\t\t\t\t277 \u00a0
\n\t\t\t\t\t39 \u00a0
\n\t\t\t\t\t21 \u00a0
\n\t\t\t\t\t888 \u00a0
\n\t\t\t\t\tDisposals in the year \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\tAccumulated depreciation at 31.12.2021 \u00a0
\n\t\t\t\t\t3 427 \u00a0
\n\t\t\t\t\t3 124 \u00a0
\n\t\t\t\t\t3 988 \u00a0
\n\t\t\t\t\t1 402 \u00a0
\n\t\t\t\t\t11 941 \u00a0
\n\t\t\t\t\tDepreciations in the year \u00a0
\n\t\t\t\t\t310 \u00a0
\n\t\t\t\t\t150 \u00a0
\n\t\t\t\t\t39 \u00a0
\n\t\t\t\t\t6
\n\t\t\t\t\t505 \u00a0
\n\t\t\t\t\tImpairment in the year \u00a0
\n\t\t\t\t\t5 503 \u00a0
\n\t\t\t\t\t5 503 \u00a0
\n\t\t\t\t\tDisposals in the year \u00a0
\n\t\t\t\t\t-5 503 \u00a0
\n\t\t\t\t\t-1 971 \u00a0
\n\t\t\t\t\t-7 474 \u00a0
\n\t\t\t\t\tAccumulated depreciation at 31.12.2022 \u00a0
\n\t\t\t\t\t3 737 \u00a0
\n\t\t\t\t\t1 303 \u00a0
\n\t\t\t\t\t4 027 \u00a0
\n\t\t\t\t\t1 408 \u00a0
\n\t\t\t\t\t10 475 \u00a0
\n\t\t\t\t\tNet carrying amount at 31.12.2021 \u00a0
\n\t\t\t\t\t548 \u00a0
\n\t\t\t\t\t172 \u00a0
\n\t\t\t\t\t39 \u00a0
\n\t\t\t\t\t6
\n\t\t\t\t\t766 \u00a0
\n\t\t\t\t\tNet carrying amount at 31.12.2022 \u00a0
\n\t\t\t\t\t238 \u00a0
\n\t\t\t\t\t142 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t379 \u00a0
\n\t\t\t\t\tEstimated useful life \u00a0
\n\t\t\t\t\t3-5 years \u00a0
\n\t\t\t\t\t2-3 years \u00a0
\n\t\t\t\t\t2-5 years \u00a0
\n\t\t\t\t\t3-5 years \u00a0
\n\t\t\t\t\tDepreciation method \u00a0
\n\t\t\t\t\tstraight-line \u00a0
\n\t\t\t\t\tstraight-line \u00a0
\n\t\t\t\t\tstraight-line \u00a0
\n\t\t\t\t\tstraight-line \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfPropertyPlantAndEquipmentExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXG6DK30",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact1567": {
"value": "Accounting policy \u00a0
\n\t\t\t\t\tProperty, plant and equipment are carried at cost less accumulated depreciation and accumulated impairment losses\ufffd Acquisition \u00a0
\n\t\t\t\t\tcost includes expenditures that are directly attributable to the acquisition of the individual item\ufffd Property, plant and equipment \u00a0
\n\t\t\t\t\tare depreciated on a straight-line basis over the expected useful life of the asset. If signi\ufb01cant individual parts of the assets have \u00a0
\n\t\t\t\t\tdifferent useful lives, they are recognised and depreciated separately. Depreciation commences when the assets are ready for \u00a0
\n\t\t\t\t\ttheir intended use. The estimated useful lives of the assets are as follows: \u00a0
\n\t\t\t\t\t\u25cf Of\ufb01ce equipment: Two to three years \u00a0
\n\t\t\t\t\t\u25cf Laboratory equipment: Three to \ufb01ve years \u00a0
\n\t\t\t\t\t\u25cf Permanent building \ufb01xtures: Two to \ufb01ve years \u00a0
\n\t\t\t\t\t\u25cf Furniture and \ufb01ttings: Three to \ufb01ve years \u00a0
\n\t\t\t\t\t\u25cf Software: Three years \u00a0
\n\t\t\t\t\tThe estimated useful life of \ufb01xed assets related to the laboratory equipment, is based on the company\u2019s assessment of operational \u00a0
\n\t\t\t\t\trisk. Due to scienti\ufb01c and regulatory reasons there is a risk of termination of the projects. This has been taken into account when \u00a0
\n\t\t\t\t\tdetermining the estimated useful life of the individual assets\ufffd \u00a0
\n\t\t\t\t\tAn item of property, plant and equipment and any signi\ufb01cant part initially recognised is derecognised upon disposal or when no \u00a0
\n\t\t\t\t\tfuture economic bene\ufb01ts are expected from its use or disposal. Any gain or loss arising on derecognition of the asset (calculated as \u00a0
\n\t\t\t\t\tthe difference between the net disposal proceeds and the carrying amount of the asset) is included in the income statement when \u00a0
\n\t\t\t\t\tthe asset is derecognised\ufffd The residual values, useful lives and methods of depreciation of the property, plant and equipment are \u00a0
\n\t\t\t\t\treviewed at each \ufb01nancial year and adjusted prospectively, if appropriate. \u00a0
\n\t\t\t\t\tAll the \ufb01xed assets in the group are owned by Nordic Nanovector ASA, thus the disclosure for Nordic Nanovector ASA is identical \u00a0
\n\t\t\t\t\tto the disclosure for the group\ufffd \u00a0
PARENT \u00a0
\n\t\t\t\t\tPermanent \u00a0
\n\t\t\t\t\tLaboratory \u00a0
\n\t\t\t\t\tOf\ufb01ce \u00a0
\n\t\t\t\t\tbuilding \u00a0
\n\t\t\t\t\tFurniture & \u00a0
\n\t\t\t\t\tequipment \u00a0
\n\t\t\t\t\tequipment \u00a0
\n\t\t\t\t\t\ufb01xtures \u00a0
\n\t\t\t\t\t\ufb01ttings \u00a0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\t(Amounts in NOK 1 000) \u00a0
\n\t\t\t\t\tCost at 01\ufffd01\ufffd2021 \u00a0
\n\t\t\t\t\t3 917 \u00a0
\n\t\t\t\t\t3 095 \u00a0
\n\t\t\t\t\t4 027 \u00a0
\n\t\t\t\t\t1 408 \u00a0
\n\t\t\t\t\t12 447 \u00a0
\n\t\t\t\t\tAdditions in the year \u00a0
\n\t\t\t\t\t58 \u00a0
\n\t\t\t\t\t201 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t259 \u00a0
\n\t\t\t\t\tDisposals in the year \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\tCost at 31\ufffd12\ufffd2021 \u00a0
\n\t\t\t\t\t3 975 \u00a0
\n\t\t\t\t\t3 296 \u00a0
\n\t\t\t\t\t4 027 \u00a0
\n\t\t\t\t\t1 408 \u00a0
\n\t\t\t\t\t12 707 \u00a0
\n\t\t\t\t\tAdditions in the year \u00a0
\n\t\t\t\t\t5 503 \u00a0
\n\t\t\t\t\t125 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t5 628 \u00a0
\n\t\t\t\t\tDisposals in the year \u00a0
\n\t\t\t\t\t-5 503 \u00a0
\n\t\t\t\t\t-1 976 \u00a0
\n\t\t\t\t\t-7 479 \u00a0
\n\t\t\t\t\tCost at 31\ufffd12\ufffd2022 \u00a0
\n\t\t\t\t\t3 975 \u00a0
\n\t\t\t\t\t1 445 \u00a0
\n\t\t\t\t\t4 027 \u00a0
\n\t\t\t\t\t1 408 \u00a0
\n\t\t\t\t\t10 856 \u00a0
\n\t\t\t\t\tAccumulated depreciations 01.01.2021 \u00a0
\n\t\t\t\t\t2 876 \u00a0
\n\t\t\t\t\t2 847 \u00a0
\n\t\t\t\t\t3 949 \u00a0
\n\t\t\t\t\t1 381 \u00a0
\n\t\t\t\t\t11 053 \u00a0
\n\t\t\t\t\tDepreciations in the year \u00a0
\n\t\t\t\t\t551 \u00a0
\n\t\t\t\t\t277 \u00a0
\n\t\t\t\t\t39 \u00a0
\n\t\t\t\t\t21 \u00a0
\n\t\t\t\t\t888 \u00a0
\n\t\t\t\t\tDisposals in the year \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\tAccumulated depreciation at 31.12.2021 \u00a0
\n\t\t\t\t\t3 427 \u00a0
\n\t\t\t\t\t3 124 \u00a0
\n\t\t\t\t\t3 988 \u00a0
\n\t\t\t\t\t1 402 \u00a0
\n\t\t\t\t\t11 941 \u00a0
\n\t\t\t\t\tDepreciations in the year \u00a0
\n\t\t\t\t\t310 \u00a0
\n\t\t\t\t\t150 \u00a0
\n\t\t\t\t\t39 \u00a0
\n\t\t\t\t\t6
\n\t\t\t\t\t505 \u00a0
\n\t\t\t\t\tImpairment in the year \u00a0
\n\t\t\t\t\t5 503 \u00a0
\n\t\t\t\t\t5 503 \u00a0
\n\t\t\t\t\tDisposals in the year \u00a0
\n\t\t\t\t\t-5 503 \u00a0
\n\t\t\t\t\t-1 971 \u00a0
\n\t\t\t\t\t-7 474 \u00a0
\n\t\t\t\t\tAccumulated depreciation at 31.12.2022 \u00a0
\n\t\t\t\t\t3 737 \u00a0
\n\t\t\t\t\t1 303 \u00a0
\n\t\t\t\t\t4 027 \u00a0
\n\t\t\t\t\t1 408 \u00a0
\n\t\t\t\t\t10 475 \u00a0
\n\t\t\t\t\tNet carrying amount at 31.12.2021 \u00a0
\n\t\t\t\t\t548 \u00a0
\n\t\t\t\t\t172 \u00a0
\n\t\t\t\t\t39 \u00a0
\n\t\t\t\t\t6
\n\t\t\t\t\t766 \u00a0
\n\t\t\t\t\tNet carrying amount at 31.12.2022 \u00a0
\n\t\t\t\t\t238 \u00a0
\n\t\t\t\t\t142 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t379 \u00a0
\n\t\t\t\t\tEstimated useful life \u00a0
\n\t\t\t\t\t3-5 years \u00a0
\n\t\t\t\t\t2-3 years \u00a0
\n\t\t\t\t\t2-5 years \u00a0
\n\t\t\t\t\t3-5 years \u00a0
\n\t\t\t\t\tDepreciation method \u00a0
\n\t\t\t\t\tstraight-line \u00a0
\n\t\t\t\t\tstraight-line \u00a0
\n\t\t\t\t\tstraight-line \u00a0
\n\t\t\t\t\tstraight-line \u00a0
PARENT \u00a0
\n\t\t\t\t\tProduction \u00a0
\n\t\t\t\t\tfacilities \u00a0
\n\t\t\t\t\t(Amounts in NOK 1 000) \u00a0
\n\t\t\t\t\tand equipment \u00a0
\n\t\t\t\t\tOf\ufb01ce facilities\u00a0Of\ufb01ce machines \u00a0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\tCost at 01\ufffd01\ufffd2021 \u00a0
\n\t\t\t\t\t19 367 \u00a0
\n\t\t\t\t\t7 995 \u00a0
\n\t\t\t\t\t545 \u00a0
\n\t\t\t\t\t27 907 \u00a0
\n\t\t\t\t\tAdditions in the year \u00a0
\n\t\t\t\t\t11 370 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t11 370 \u00a0
\n\t\t\t\t\tDisposals in the year \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tCost at 31\ufffd12\ufffd2021 \u00a0
\n\t\t\t\t\t30 737 \u00a0
\n\t\t\t\t\t7 995 \u00a0
\n\t\t\t\t\t545 \u00a0
\n\t\t\t\t\t39 277 \u00a0
\n\t\t\t\t\tAdditions in the year \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t174 \u00a0
\n\t\t\t\t\t174 \u00a0
\n\t\t\t\t\tDisposals in the year \u00a0
\n\t\t\t\t\t-21 116 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t-21 116 \u00a0
\n\t\t\t\t\tCost at 31\ufffd12\ufffd2022 \u00a0
\n\t\t\t\t\t9 621 \u00a0
\n\t\t\t\t\t7 995 \u00a0
\n\t\t\t\t\t719 \u00a0
\n\t\t\t\t\t18 335 \u00a0
\n\t\t\t\t\tAccumulated depreciation at 01.01.2021 \u00a0
\n\t\t\t\t\t19 367 \u00a0
\n\t\t\t\t\t3 977 \u00a0
\n\t\t\t\t\t272 \u00a0
\n\t\t\t\t\t23 616 \u00a0
\n\t\t\t\t\tDepreciation and impairment in the year \u00a0
\n\t\t\t\t\t8 338 \u00a0
\n\t\t\t\t\t2 009 \u00a0
\n\t\t\t\t\t136 \u00a0
\n\t\t\t\t\t10 483 \u00a0
\n\t\t\t\t\tAccumulated depreciation at 31.12.2021 \u00a0
\n\t\t\t\t\t27 705 \u00a0
\n\t\t\t\t\t5 986 \u00a0
\n\t\t\t\t\t408 \u00a0
\n\t\t\t\t\t34 099 \u00a0
\n\t\t\t\t\tDepreciation and impairment in the year \u00a0
\n\t\t\t\t\t3 033 \u00a0
\n\t\t\t\t\t2 009 \u00a0
\n\t\t\t\t\t153 \u00a0
\n\t\t\t\t\t5 195 \u00a0
\n\t\t\t\t\tDisposals in the year \u00a0
\n\t\t\t\t\t-21 117 \u00a0
\n\t\t\t\t\t-21 117 \u00a0
\n\t\t\t\t\tAccumulated depreciation at 31.12.2022 \u00a0
\n\t\t\t\t\t9 621 \u00a0
\n\t\t\t\t\t7 995 \u00a0
\n\t\t\t\t\t561 \u00a0
\n\t\t\t\t\t18 177 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\tNet carrying amount at 31.12.2021 \u00a0
\n\t\t\t\t\t3 032 \u00a0
\n\t\t\t\t\t2 009 \u00a0
\n\t\t\t\t\t137 \u00a0
\n\t\t\t\t\t5 177 \u00a0
\n\t\t\t\t\tNet carrying amount at 31.12.2022 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t158 \u00a0
\n\t\t\t\t\t158 \u00a0
\n\t\t\t\t\tInterest rate applied \u00a0
\n\t\t\t\t\t4\ufffd35% - 5\ufffd25% \u00a0
\n\t\t\t\t\t2\ufffd9% \u00a0
\n\t\t\t\t\t5\ufffd25% \u00a0
\n\t\t\t\t\tAll the right-of-use assets in the group are owned by Nordic Nanovector ASA, thus the disclosure for Nordic Nanovector ASA is \u00a0
\n\t\t\t\t\tidentical to the disclosure for the group\ufffd \u00a0
Carrying amount of lease liabilities and movements during the period\ufffd \u00a0
\n\t\t\t\t\tPARENT \u00a0
\n\t\t\t\t\t(Amounts in NOK 1 000) \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\tLiabilites at 01.01 \u00a0
\n\t\t\t\t\t4 567 \u00a0
\n\t\t\t\t\t5 508 \u00a0
\n\t\t\t\t\tAdditions \u00a0
\n\t\t\t\t\t11 370 \u00a0
\n\t\t\t\t\t174 \u00a0
\n\t\t\t\t\tAccretion of interests \u00a0
\n\t\t\t\t\t414 \u00a0
\n\t\t\t\t\t66 \u00a0
\n\t\t\t\t\tPayments \u00a0
\n\t\t\t\t\t-10 843 \u00a0
\n\t\t\t\t\t-5 589 \u00a0
\n\t\t\t\t\tLiabilites at 31.12 \u00a0
\n\t\t\t\t\t5 508 \u00a0
\n\t\t\t\t\t159 \u00a0
\n\t\t\t\t\tCurrent \u00a0
\n\t\t\t\t\t5 508 \u00a0
\n\t\t\t\t\t159 \u00a0
\n\t\t\t\t\tNon-current \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
The following are the amounts recognised in the pro\ufb01t and loss. \u00a0
\n\t\t\t\t\tPARENT \u00a0
\n\t\t\t\t\tGROUP \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t(Amounts in NOK 1 000) \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t10 483 \u00a0
\n\t\t\t\t\t5 195 \u00a0
\n\t\t\t\t\tDepreciation and impairment of right-of-use assets \u00a0
\n\t\t\t\t\t5 195 \u00a0
\n\t\t\t\t\t10 483 \u00a0
\n\t\t\t\t\t414 \u00a0
\n\t\t\t\t\t66 \u00a0
\n\t\t\t\t\tInterest expense on lease liabilities \u00a0
\n\t\t\t\t\t66 \u00a0
\n\t\t\t\t\t414 \u00a0
\n\t\t\t\t\t85 \u00a0
\n\t\t\t\t\t75 \u00a0
\n\t\t\t\t\tExpense related to short-term lease \u00a0
\n\t\t\t\t\t366 \u00a0
\n\t\t\t\t\t263 \u00a0
\n\t\t\t\t\t10 982 \u00a0
\n\t\t\t\t\t5 336 \u00a0
\n\t\t\t\t\tTotal amount recognised in pro\ufb01t and loss \u00a0
\n\t\t\t\t\t5 627 \u00a0
\n\t\t\t\t\t11 160 \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfDepreciationAndAmortisationExpenseExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXG6DK30",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact1573": {
"value": "Accounting policy \u00a0
\n\t\t\t\t\tProperty, plant and equipment are carried at cost less accumulated depreciation and accumulated impairment losses\ufffd Acquisition \u00a0
\n\t\t\t\t\tcost includes expenditures that are directly attributable to the acquisition of the individual item\ufffd Property, plant and equipment \u00a0
\n\t\t\t\t\tare depreciated on a straight-line basis over the expected useful life of the asset. If signi\ufb01cant individual parts of the assets have \u00a0
\n\t\t\t\t\tdifferent useful lives, they are recognised and depreciated separately. Depreciation commences when the assets are ready for \u00a0
\n\t\t\t\t\ttheir intended use. The estimated useful lives of the assets are as follows: \u00a0
\n\t\t\t\t\t\u25cf Of\ufb01ce equipment: Two to three years \u00a0
\n\t\t\t\t\t\u25cf Laboratory equipment: Three to \ufb01ve years \u00a0
\n\t\t\t\t\t\u25cf Permanent building \ufb01xtures: Two to \ufb01ve years \u00a0
\n\t\t\t\t\t\u25cf Furniture and \ufb01ttings: Three to \ufb01ve years \u00a0
\n\t\t\t\t\t\u25cf Software: Three years \u00a0
\n\t\t\t\t\tThe estimated useful life of \ufb01xed assets related to the laboratory equipment, is based on the company\u2019s assessment of operational \u00a0
\n\t\t\t\t\trisk. Due to scienti\ufb01c and regulatory reasons there is a risk of termination of the projects. This has been taken into account when \u00a0
\n\t\t\t\t\tdetermining the estimated useful life of the individual assets\ufffd \u00a0
\n\t\t\t\t\tAn item of property, plant and equipment and any signi\ufb01cant part initially recognised is derecognised upon disposal or when no \u00a0
\n\t\t\t\t\tfuture economic bene\ufb01ts are expected from its use or disposal. Any gain or loss arising on derecognition of the asset (calculated as \u00a0
\n\t\t\t\t\tthe difference between the net disposal proceeds and the carrying amount of the asset) is included in the income statement when \u00a0
\n\t\t\t\t\tthe asset is derecognised\ufffd The residual values, useful lives and methods of depreciation of the property, plant and equipment are \u00a0
\n\t\t\t\t\treviewed at each \ufb01nancial year and adjusted prospectively, if appropriate. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXG6DK30",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact1574": {
"value": "Accounting policy \u00a0
\n\t\t\t\t\tProperty, plant and equipment are carried at cost less accumulated depreciation and accumulated impairment losses\ufffd Acquisition \u00a0
\n\t\t\t\t\tcost includes expenditures that are directly attributable to the acquisition of the individual item\ufffd Property, plant and equipment \u00a0
\n\t\t\t\t\tare depreciated on a straight-line basis over the expected useful life of the asset. If signi\ufb01cant individual parts of the assets have \u00a0
\n\t\t\t\t\tdifferent useful lives, they are recognised and depreciated separately. Depreciation commences when the assets are ready for \u00a0
\n\t\t\t\t\ttheir intended use. The estimated useful lives of the assets are as follows: \u00a0
\n\t\t\t\t\t\u25cf Of\ufb01ce equipment: Two to three years \u00a0
\n\t\t\t\t\t\u25cf Laboratory equipment: Three to \ufb01ve years \u00a0
\n\t\t\t\t\t\u25cf Permanent building \ufb01xtures: Two to \ufb01ve years \u00a0
\n\t\t\t\t\t\u25cf Furniture and \ufb01ttings: Three to \ufb01ve years \u00a0
\n\t\t\t\t\t\u25cf Software: Three years \u00a0
\n\t\t\t\t\tThe estimated useful life of \ufb01xed assets related to the laboratory equipment, is based on the company\u2019s assessment of operational \u00a0
\n\t\t\t\t\trisk. Due to scienti\ufb01c and regulatory reasons there is a risk of termination of the projects. This has been taken into account when \u00a0
\n\t\t\t\t\tdetermining the estimated useful life of the individual assets\ufffd \u00a0
\n\t\t\t\t\tAn item of property, plant and equipment and any signi\ufb01cant part initially recognised is derecognised upon disposal or when no \u00a0
\n\t\t\t\t\tfuture economic bene\ufb01ts are expected from its use or disposal. Any gain or loss arising on derecognition of the asset (calculated as \u00a0
\n\t\t\t\t\tthe difference between the net disposal proceeds and the carrying amount of the asset) is included in the income statement when \u00a0
\n\t\t\t\t\tthe asset is derecognised\ufffd The residual values, useful lives and methods of depreciation of the property, plant and equipment are \u00a0
\n\t\t\t\t\treviewed at each \ufb01nancial year and adjusted prospectively, if appropriate. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForDepreciationExpenseExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXG6DK30",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact1576": {
"value": "PARENT \u00a0
\n\t\t\t\t\tPermanent \u00a0
\n\t\t\t\t\tLaboratory \u00a0
\n\t\t\t\t\tOf\ufb01ce \u00a0
\n\t\t\t\t\tbuilding \u00a0
\n\t\t\t\t\tFurniture & \u00a0
\n\t\t\t\t\tequipment \u00a0
\n\t\t\t\t\tequipment \u00a0
\n\t\t\t\t\t\ufb01xtures \u00a0
\n\t\t\t\t\t\ufb01ttings \u00a0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\t(Amounts in NOK 1 000) \u00a0
\n\t\t\t\t\tCost at 01\ufffd01\ufffd2021 \u00a0
\n\t\t\t\t\t3 917 \u00a0
\n\t\t\t\t\t3 095 \u00a0
\n\t\t\t\t\t4 027 \u00a0
\n\t\t\t\t\t1 408 \u00a0
\n\t\t\t\t\t12 447 \u00a0
\n\t\t\t\t\tAdditions in the year \u00a0
\n\t\t\t\t\t58 \u00a0
\n\t\t\t\t\t201 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t259 \u00a0
\n\t\t\t\t\tDisposals in the year \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\tCost at 31\ufffd12\ufffd2021 \u00a0
\n\t\t\t\t\t3 975 \u00a0
\n\t\t\t\t\t3 296 \u00a0
\n\t\t\t\t\t4 027 \u00a0
\n\t\t\t\t\t1 408 \u00a0
\n\t\t\t\t\t12 707 \u00a0
\n\t\t\t\t\tAdditions in the year \u00a0
\n\t\t\t\t\t5 503 \u00a0
\n\t\t\t\t\t125 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t5 628 \u00a0
\n\t\t\t\t\tDisposals in the year \u00a0
\n\t\t\t\t\t-5 503 \u00a0
\n\t\t\t\t\t-1 976 \u00a0
\n\t\t\t\t\t-7 479 \u00a0
\n\t\t\t\t\tCost at 31\ufffd12\ufffd2022 \u00a0
\n\t\t\t\t\t3 975 \u00a0
\n\t\t\t\t\t1 445 \u00a0
\n\t\t\t\t\t4 027 \u00a0
\n\t\t\t\t\t1 408 \u00a0
\n\t\t\t\t\t10 856 \u00a0
\n\t\t\t\t\tAccumulated depreciations 01.01.2021 \u00a0
\n\t\t\t\t\t2 876 \u00a0
\n\t\t\t\t\t2 847 \u00a0
\n\t\t\t\t\t3 949 \u00a0
\n\t\t\t\t\t1 381 \u00a0
\n\t\t\t\t\t11 053 \u00a0
\n\t\t\t\t\tDepreciations in the year \u00a0
\n\t\t\t\t\t551 \u00a0
\n\t\t\t\t\t277 \u00a0
\n\t\t\t\t\t39 \u00a0
\n\t\t\t\t\t21 \u00a0
\n\t\t\t\t\t888 \u00a0
\n\t\t\t\t\tDisposals in the year \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\tAccumulated depreciation at 31.12.2021 \u00a0
\n\t\t\t\t\t3 427 \u00a0
\n\t\t\t\t\t3 124 \u00a0
\n\t\t\t\t\t3 988 \u00a0
\n\t\t\t\t\t1 402 \u00a0
\n\t\t\t\t\t11 941 \u00a0
\n\t\t\t\t\tDepreciations in the year \u00a0
\n\t\t\t\t\t310 \u00a0
\n\t\t\t\t\t150 \u00a0
\n\t\t\t\t\t39 \u00a0
\n\t\t\t\t\t6
\n\t\t\t\t\t505 \u00a0
\n\t\t\t\t\tImpairment in the year \u00a0
\n\t\t\t\t\t5 503 \u00a0
\n\t\t\t\t\t5 503 \u00a0
\n\t\t\t\t\tDisposals in the year \u00a0
\n\t\t\t\t\t-5 503 \u00a0
\n\t\t\t\t\t-1 971 \u00a0
\n\t\t\t\t\t-7 474 \u00a0
\n\t\t\t\t\tAccumulated depreciation at 31.12.2022 \u00a0
\n\t\t\t\t\t3 737 \u00a0
\n\t\t\t\t\t1 303 \u00a0
\n\t\t\t\t\t4 027 \u00a0
\n\t\t\t\t\t1 408 \u00a0
\n\t\t\t\t\t10 475 \u00a0
\n\t\t\t\t\tNet carrying amount at 31.12.2021 \u00a0
\n\t\t\t\t\t548 \u00a0
\n\t\t\t\t\t172 \u00a0
\n\t\t\t\t\t39 \u00a0
\n\t\t\t\t\t6
\n\t\t\t\t\t766 \u00a0
\n\t\t\t\t\tNet carrying amount at 31.12.2022 \u00a0
\n\t\t\t\t\t238 \u00a0
\n\t\t\t\t\t142 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t379 \u00a0
\n\t\t\t\t\tEstimated useful life \u00a0
\n\t\t\t\t\t3-5 years \u00a0
\n\t\t\t\t\t2-3 years \u00a0
\n\t\t\t\t\t2-5 years \u00a0
\n\t\t\t\t\t3-5 years \u00a0
\n\t\t\t\t\tDepreciation method \u00a0
\n\t\t\t\t\tstraight-line \u00a0
\n\t\t\t\t\tstraight-line \u00a0
\n\t\t\t\t\tstraight-line \u00a0
\n\t\t\t\t\tstraight-line \u00a0
Impairment of \ufb01nancial assets \u00a0
\n\t\t\t\t\tThe group assesses, at each reporting date, whether there is objective evidence that a \ufb01nancial asset or a group of \ufb01nancial assets \u00a0
\n\t\t\t\t\tis impaired\ufffd An impairment exists if one or more events that has occurred since the initial recognition of the asset (an incurred \u00a0
\n\t\t\t\t\t\u2018loss event\u2019), has an impact on the estimated future cash \ufb02ows of the \ufb01nancial asset or the group of \ufb01nancial assets that can be \u00a0
\n\t\t\t\t\treliably estimated\ufffd \u00a0
\n\t\t\t\t\tThe amount of any impairment loss identi\ufb01ed is measured as the difference between the asset\u2019s carrying amount and the present \u00a0
\n\t\t\t\t\tvalue of estimated future cash \ufb02ows (excluding future expected credit losses that have not yet been incurred). \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfImpairmentOfAssetsExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXG6DK30",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact1578": {
"value": "4\ufffd2 LEASES
Accounting policy \u00a0
Right-of-use assets \u00a0
\n\t\t\t\t\tThe group recognises right-of-use assets at the commencement date of the lease (i\ufffde\ufffd, the date the underlying asset is available \u00a0
\n\t\t\t\t\tfor use)\ufffd Right-of-use assets are measured at cost, less any accumulated depreciation and impairment losses, and adjusted for \u00a0
\n\t\t\t\t\tany remeasurement of lease liabilities\ufffd The cost of right-of-use assets includes the amount of lease liabilities recognised, initial \u00a0
\n\t\t\t\t\tdirect costs incurred, and lease payments made at or before the commencement date less any lease incentives received\ufffd \u00a0
\n\t\t\t\t\tThe company applies the depreciation requirements in IAS 16 Property, Plant and Equipment in depreciating the right-of-use \u00a0
\n\t\t\t\t\tasset, except that the right-of-use asset is depreciated from the commencement date to the earlier of the lease term and the \u00a0
\n\t\t\t\t\tremaining useful life of the right-of-use asset. The company applies IAS 36 Impairment of Assets to determine whether the right- \u00a0
\n\t\t\t\t\tof-use asset is impaired and to account for any impairment loss identi\ufb01ed. \u00a0
\n\t\t\t\t\tLease liabilities \u00a0
\n\t\t\t\t\tAt the commencement date of the lease, the group recognises lease liabilities measured at the present value of lease payments \u00a0
\n\t\t\t\t\tto be made over the lease term\ufffd \u00a0
\n\t\t\t\t\tIn calculating the present value of lease payments, the group uses the incremental borrowing rate at the lease commencement \u00a0
\n\t\t\t\t\tdate if the interest rate implicit in the lease is not readily determinable\ufffd After the commencement date, the amount of lease liabilities \u00a0
\n\t\t\t\t\tis increased to re\ufb02ect the accretion of interest and reduced for the lease payments made. In addition, the carrying amount of lease \u00a0
\n\t\t\t\t\tliabilities is remeasured if there is a modi\ufb01cation, a change in the lease term, a change in the in-substance \ufb01xed lease payments \u00a0
\n\t\t\t\t\tor a change in the assessment to purchase the underlying asset\ufffd The group remeasures the lease liability upon the occurrence \u00a0
\n\t\t\t\t\tof certain events (e\ufffdg\ufffda change in the lease term, or a change in future lease payments resulting from a change in an index or rate \u00a0
\n\t\t\t\t\tused to determine those payments)\ufffd Generally, the amount of remeasurement of the lease liability is recognised as an adjustment \u00a0
\n\t\t\t\t\tto the right-of-use asset\ufffd \u00a0
\n\t\t\t\t\tShort-term leases and leases of low-value assets \u00a0
\n\t\t\t\t\tThe group applies the short-term lease recognition exemption to its short-term leases (i\ufffde\ufffd, those leases that have a lease term of \u00a0
\n\t\t\t\t\t12 months or less from the commencement date and do not contain a purchase option). The group also applies the lease of low- \u00a0
\n\t\t\t\t\tvalue assets recognition exemption to leases that are considered of low value. Lease payments on short-term leases and leases \u00a0
\n\t\t\t\t\tof low-value assets are recognised as expense on a straight-line basis over the lease term. \u00a0
\n\t\t\t\t\tIncremental borrowing rate \u00a0
\n\t\t\t\t\tIn calculating the present value of lease payments, the group uses the incremental borrowing rate at the lease commencement \u00a0
\n\t\t\t\t\tdate if the interest rate implicit in the lease is not readily determinable\ufffd \u00a0
\n\t\t\t\t\tDetermining the lease term of contracts with renewal options \u00a0
\n\t\t\t\t\tThe group determines the lease term as the non-cancellable term of the lease, together with any periods covered by an option \u00a0
\n\t\t\t\t\tto extend the lease if it is reasonably certain to be exercised, or any periods covered by an option to terminate the lease, if it is \u00a0
\n\t\t\t\t\treasonably certain not to be exercised. The group applies judgement in evaluating whether it is reasonably certain to exercise an \u00a0
\n\t\t\t\t\toption to renew a lease contract, considering all relevant factors that create an economic incentive for the group to exercise the \u00a0
\n\t\t\t\t\trenewal or not exercise an option to terminate. \u00a0
\n\t\t\t\t\tThe main part of the group\u2019s lease contracts relates to production and of\ufb01ce facilities. \u00a0
Lease contracts \u00a0
\n\t\t\t\t\tDuring 2022 Nordic Nanovector ASA had lease contracts related to external production facilities at one of the CMO\u2019s manufacturing \u00a0
\n\t\t\t\t\tsites of\ufb01ce facilities and of\ufb01ces machines. These contracts were registered as a right-of-use-asset with a lease liability. All leases \u00a0
\n\t\t\t\t\texcept related to of\ufb01ce machines have expired as per 31 December 2022. The group also lease of\ufb01ce facilities in Switzerland and \u00a0
\n\t\t\t\t\tDenmark with a lease term of 12 months or less. The lease in Denmark expired in October 2022 and was not renewed. The lease \u00a0
\n\t\t\t\t\tin Switzerland will expire in April 2023 and will not be renewed. The group applies the \u2018short-term lease\u2019 recognition exemptions \u00a0
\n\t\t\t\t\tfor these leases\ufffd \u00a0
\n\t\t\t\t\tThe company and the group has no signi\ufb01cant lease contract that includes an extention option. Undiscounted potential future \u00a0
\n\t\t\t\t\trental payment related to periods following the excercise date of extention and termination options that are not included in the \u00a0
\n\t\t\t\t\tlease term, was NOK 2.2 million in 2021. All payments are within a one year period. Management exercise signi\ufb01cant judgement \u00a0
\n\t\t\t\t\tin determining whether extension options are reasonable to be exercised. \u00a0
PARENT \u00a0
\n\t\t\t\t\tProduction \u00a0
\n\t\t\t\t\tfacilities \u00a0
\n\t\t\t\t\t(Amounts in NOK 1 000) \u00a0
\n\t\t\t\t\tand equipment \u00a0
\n\t\t\t\t\tOf\ufb01ce facilities\u00a0Of\ufb01ce machines \u00a0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\tCost at 01\ufffd01\ufffd2021 \u00a0
\n\t\t\t\t\t19 367 \u00a0
\n\t\t\t\t\t7 995 \u00a0
\n\t\t\t\t\t545 \u00a0
\n\t\t\t\t\t27 907 \u00a0
\n\t\t\t\t\tAdditions in the year \u00a0
\n\t\t\t\t\t11 370 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t11 370 \u00a0
\n\t\t\t\t\tDisposals in the year \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\tCost at 31\ufffd12\ufffd2021 \u00a0
\n\t\t\t\t\t30 737 \u00a0
\n\t\t\t\t\t7 995 \u00a0
\n\t\t\t\t\t545 \u00a0
\n\t\t\t\t\t39 277 \u00a0
\n\t\t\t\t\tAdditions in the year \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t174 \u00a0
\n\t\t\t\t\t174 \u00a0
\n\t\t\t\t\tDisposals in the year \u00a0
\n\t\t\t\t\t-21 116 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t-21 116 \u00a0
\n\t\t\t\t\tCost at 31\ufffd12\ufffd2022 \u00a0
\n\t\t\t\t\t9 621 \u00a0
\n\t\t\t\t\t7 995 \u00a0
\n\t\t\t\t\t719 \u00a0
\n\t\t\t\t\t18 335 \u00a0
\n\t\t\t\t\tAccumulated depreciation at 01.01.2021 \u00a0
\n\t\t\t\t\t19 367 \u00a0
\n\t\t\t\t\t3 977 \u00a0
\n\t\t\t\t\t272 \u00a0
\n\t\t\t\t\t23 616 \u00a0
\n\t\t\t\t\tDepreciation and impairment in the year \u00a0
\n\t\t\t\t\t8 338 \u00a0
\n\t\t\t\t\t2 009 \u00a0
\n\t\t\t\t\t136 \u00a0
\n\t\t\t\t\t10 483 \u00a0
\n\t\t\t\t\tAccumulated depreciation at 31.12.2021 \u00a0
\n\t\t\t\t\t27 705 \u00a0
\n\t\t\t\t\t5 986 \u00a0
\n\t\t\t\t\t408 \u00a0
\n\t\t\t\t\t34 099 \u00a0
\n\t\t\t\t\tDepreciation and impairment in the year \u00a0
\n\t\t\t\t\t3 033 \u00a0
\n\t\t\t\t\t2 009 \u00a0
\n\t\t\t\t\t153 \u00a0
\n\t\t\t\t\t5 195 \u00a0
\n\t\t\t\t\tDisposals in the year \u00a0
\n\t\t\t\t\t-21 117 \u00a0
\n\t\t\t\t\t-21 117 \u00a0
\n\t\t\t\t\tAccumulated depreciation at 31.12.2022 \u00a0
\n\t\t\t\t\t9 621 \u00a0
\n\t\t\t\t\t7 995 \u00a0
\n\t\t\t\t\t561 \u00a0
\n\t\t\t\t\t18 177 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\tNet carrying amount at 31.12.2021 \u00a0
\n\t\t\t\t\t3 032 \u00a0
\n\t\t\t\t\t2 009 \u00a0
\n\t\t\t\t\t137 \u00a0
\n\t\t\t\t\t5 177 \u00a0
\n\t\t\t\t\tNet carrying amount at 31.12.2022 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t158 \u00a0
\n\t\t\t\t\t158 \u00a0
\n\t\t\t\t\tInterest rate applied \u00a0
\n\t\t\t\t\t4\ufffd35% - 5\ufffd25% \u00a0
\n\t\t\t\t\t2\ufffd9% \u00a0
\n\t\t\t\t\t5\ufffd25% \u00a0
\n\t\t\t\t\tAll the right-of-use assets in the group are owned by Nordic Nanovector ASA, thus the disclosure for Nordic Nanovector ASA is \u00a0
\n\t\t\t\t\tidentical to the disclosure for the group\ufffd \u00a0
Carrying amount of lease liabilities and movements during the period\ufffd \u00a0
\n\t\t\t\t\tPARENT \u00a0
\n\t\t\t\t\t(Amounts in NOK 1 000) \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\tLiabilites at 01.01 \u00a0
\n\t\t\t\t\t4 567 \u00a0
\n\t\t\t\t\t5 508 \u00a0
\n\t\t\t\t\tAdditions \u00a0
\n\t\t\t\t\t11 370 \u00a0
\n\t\t\t\t\t174 \u00a0
\n\t\t\t\t\tAccretion of interests \u00a0
\n\t\t\t\t\t414 \u00a0
\n\t\t\t\t\t66 \u00a0
\n\t\t\t\t\tPayments \u00a0
\n\t\t\t\t\t-10 843 \u00a0
\n\t\t\t\t\t-5 589 \u00a0
\n\t\t\t\t\tLiabilites at 31.12 \u00a0
\n\t\t\t\t\t5 508 \u00a0
\n\t\t\t\t\t159 \u00a0
\n\t\t\t\t\tCurrent \u00a0
\n\t\t\t\t\t5 508 \u00a0
\n\t\t\t\t\t159 \u00a0
\n\t\t\t\t\tNon-current \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
The table below summarises the maturity pro\ufb01le of leasing liabilities. All lease liabilities in the group is registered in the parent \u00a0
\n\t\t\t\t\tcompany, therefore the disclosure for Nordic Nanovector ASA is identical to the disclosure for the group\ufffd \u00a0
\n\t\t\t\t\tAs per 31 December 2022 \u00a0
\n\t\t\t\t\tPARENT \u00a0
\n\t\t\t\t\tLess than \u00a0
\n\t\t\t\t\t3 to 12 \u00a0
\n\t\t\t\t\t13 to 24 \u00a0
\n\t\t\t\t\t25 to 36 \u00a0
\n\t\t\t\t\t3 months \u00a0
\n\t\t\t\t\tmonths \u00a0
\n\t\t\t\t\tmonths \u00a0
\n\t\t\t\t\tmonths \u00a0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\t(Amounts in NOK 1 000) \u00a0
\n\t\t\t\t\tLease liabilities \u00a0
\n\t\t\t\t\t25 \u00a0
\n\t\t\t\t\t134 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t159 \u00a0
\n\t\t\t\t\tThere are no non-current liabilites related to leasing agreements payable as per 31 December 2022 \u00a0
\n\t\t\t\t\tAs per 31 December 2021 \u00a0
\n\t\t\t\t\tPARENT \u00a0
\n\t\t\t\t\tLess than \u00a0
\n\t\t\t\t\t3 to 12 \u00a0
\n\t\t\t\t\t13 to 24 \u00a0
\n\t\t\t\t\t25 to 36 \u00a0
\n\t\t\t\t\t3 months \u00a0
\n\t\t\t\t\tmonths \u00a0
\n\t\t\t\t\tmonths \u00a0
\n\t\t\t\t\tmonths \u00a0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\t(Amounts in NOK 1 000) \u00a0
\n\t\t\t\t\tLease liabilities \u00a0
\n\t\t\t\t\t2 931 \u00a0
\n\t\t\t\t\t2 577 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t5 508 \u00a0
\n\t\t\t\t\tThere are no non-current liabilites related to leasing agreements payable as per 31 December 2021\ufffd \u00a0
The following are the amounts recognised in the pro\ufb01t and loss. \u00a0
\n\t\t\t\t\tPARENT \u00a0
\n\t\t\t\t\tGROUP \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t(Amounts in NOK 1 000) \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t10 483 \u00a0
\n\t\t\t\t\t5 195 \u00a0
\n\t\t\t\t\tDepreciation and impairment of right-of-use assets \u00a0
\n\t\t\t\t\t5 195 \u00a0
\n\t\t\t\t\t10 483 \u00a0
\n\t\t\t\t\t414 \u00a0
\n\t\t\t\t\t66 \u00a0
\n\t\t\t\t\tInterest expense on lease liabilities \u00a0
\n\t\t\t\t\t66 \u00a0
\n\t\t\t\t\t414 \u00a0
\n\t\t\t\t\t85 \u00a0
\n\t\t\t\t\t75 \u00a0
\n\t\t\t\t\tExpense related to short-term lease \u00a0
\n\t\t\t\t\t366 \u00a0
\n\t\t\t\t\t263 \u00a0
\n\t\t\t\t\t10 982 \u00a0
\n\t\t\t\t\t5 336 \u00a0
\n\t\t\t\t\tTotal amount recognised in pro\ufb01t and loss \u00a0
\n\t\t\t\t\t5 627 \u00a0
\n\t\t\t\t\t11 160 \u00a0
Total cash ou\ufb02ow for leases: \u00a0
\n\t\t\t\t\tPARENT \u00a0
\n\t\t\t\t\tGROUP \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t(Amounts in NOK 1 000) \u00a0
\n\t\t\t\t\t10 928 \u00a0
\n\t\t\t\t\t5 663 \u00a0
\n\t\t\t\t\tTotal cash out\ufb02ow for leases \u00a0
\n\t\t\t\t\t5 957 \u00a0
\n\t\t\t\t\t11 107 \u00a0
\n\t\t\t\t\tThe group also had NOK 0\ufffd2 million in non-cash additions to right-of-use assets and lease liabilities in 2022 (NOK 11\ufffd4 million in \u00a0
\n\t\t\t\t\tnon-cash additions in 2021)\ufffd \u00a0
The table below summarises the maturity pro\ufb01le of the group\u2019s \ufb01nancial liabilities based on contractual undiscounted payments: \u00a0
\n\t\t\t\t\tAs per 31 December 2022 \u00a0
\n\t\t\t\t\tGROUP \u00a0
\n\t\t\t\t\tOn Less
than \u00a0
\n\t\t\t\t\t3 to 12 \u00a0
\n\t\t\t\t\t(Amounts in NOK 1 000) \u00a0
\n\t\t\t\t\tdemand \u00a0
\n\t\t\t\t\t3 months \u00a0
\n\t\t\t\t\tmonths \u00a0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\tAccounts payable \u00a0
\n\t\t\t\t\t9 093 \u00a0
\n\t\t\t\t\t9 093 \u00a0
\n\t\t\t\t\tUnpaid duties and charges \u00a0
\n\t\t\t\t\t3 483 \u00a0
\n\t\t\t\t\t3 483 \u00a0
\n\t\t\t\t\tUnpaid vacation pay \u00a0
\n\t\t\t\t\t1 425 \u00a0
\n\t\t\t\t\t1 425 \u00a0
\n\t\t\t\t\tTax payable \u00a0
\n\t\t\t\t\t759 \u00a0
\n\t\t\t\t\t759 \u00a0
\n\t\t\t\t\tAccrued social security expenses related to outstanding \u00a0
\n\t\t\t\t\tnon exercised options, PSUs and RSUs1) \u00a0
\n\t\t\t\t\t9
\n\t\t\t\t\t9
\n\t\t\t\t\tLease liabilities \u00a0
\n\t\t\t\t\t27 \u00a0
\n\t\t\t\t\t132 \u00a0
\n\t\t\t\t\t159 \u00a0
\n\t\t\t\t\tOther accrued costs \u00a0
\n\t\t\t\t\t18 117 \u00a0
\n\t\t\t\t\t11 238 \u00a0
\n\t\t\t\t\t29 355 \u00a0
\n\t\t\t\t\tTotal current liabilities 31.12.22 \u00a0
\n\t\t\t\t\t9
\n\t\t\t\t\t30 720 \u00a0
\n\t\t\t\t\t13 554 \u00a0
\n\t\t\t\t\t44 283 \u00a0
As per 31 December 2021 \u00a0
\n\t\t\t\t\tGROUP \u00a0
\n\t\t\t\t\tOn Less
than \u00a0
\n\t\t\t\t\t3 to 12 \u00a0
\n\t\t\t\t\t(Amounts in NOK 1 000) \u00a0
\n\t\t\t\t\tdemand \u00a0
\n\t\t\t\t\t3 months \u00a0
\n\t\t\t\t\tmonths \u00a0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\tAccounts payable \u00a0
\n\t\t\t\t\t65 960 \u00a0
\n\t\t\t\t\t65 960 \u00a0
\n\t\t\t\t\tUnpaid duties and charges \u00a0
\n\t\t\t\t\t2 844 \u00a0
\n\t\t\t\t\t2 844 \u00a0
\n\t\t\t\t\tUnpaid vacation pay \u00a0
\n\t\t\t\t\t2 919 \u00a0
\n\t\t\t\t\t2 919 \u00a0
\n\t\t\t\t\tTax payable \u00a0
\n\t\t\t\t\t1 068 \u00a0
\n\t\t\t\t\t1 068 \u00a0
\n\t\t\t\t\tAccrued social security related to outstanding non exercised options, \u00a0
\n\t\t\t\t\tPSUs and RSUs *) \u00a0
\n\t\t\t\t\t1 649 \u00a0
\n\t\t\t\t\t1 649 \u00a0
\n\t\t\t\t\tLease liabilities \u00a0
\n\t\t\t\t\t2 931 \u00a0
\n\t\t\t\t\t2 577 \u00a0
\n\t\t\t\t\t5 508 \u00a0
\n\t\t\t\t\tOther accrued costs \u00a0
\n\t\t\t\t\t67 260 \u00a0
\n\t\t\t\t\t4 487 \u00a0
\n\t\t\t\t\t71 747 \u00a0
\n\t\t\t\t\tTotal current liabilities 31.12.21 \u00a0
\n\t\t\t\t\t1 649 \u00a0
\n\t\t\t\t\t138 995 \u00a0
\n\t\t\t\t\t11 051 \u00a0
\n\t\t\t\t\t151 695 \u00a0
PARENT \u00a0
\n\t\t\t\t\tGROUP \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t(Amounts in NOK 1 000) \u00a0
\n\t\t\t\t\t2 600 387 \u00a0
\n\t\t\t\t\t2 913 068
Tax losses carried forward \u00a0
\n\t\t\t\t\t2 912 552
2 600 386 \u00a0
\n\t\t\t\t\t832 \u00a0
\n\t\t\t\t\t991 Property, plant
and equipment \u00a0
\n\t\t\t\t\t991 \u00a0
\n\t\t\t\t\t832 \u00a0
\n\t\t\t\t\t331 \u00a0
\n\t\t\t\t\t1
\n\t\t\t\t\tLeasing agreements \u00a0
\n\t\t\t\t\t1
\n\t\t\t\t\t331 \u00a0
\n\t\t\t\t\t878 \u00a0
\n\t\t\t\t\t19 073
Liabilities \u00a0
\n\t\t\t\t\t19 073 \u00a0
\n\t\t\t\t\t878 \u00a0
\n\t\t\t\t\t135 \u00a0
\n\t\t\t\t\t112 Tax payable \u00a0
\n\t\t\t\t\t112 \u00a0
\n\t\t\t\t\t135 \u00a0
\n\t\t\t\t\t2 602 563
2 933 245
Temporary differences and tax loss carry forward \u00a0
\n\t\t\t\t\t2 932 729 \u00a0
\n\t\t\t\t\t2 602 562 \u00a0
\n\t\t\t\t\t572 564 \u00a0
\n\t\t\t\t\t645 314
Deferred tax assets - not recognised in statement of \ufb01nancial position \u00a0
\n\t\t\t\t\t645 200 \u00a0
\n\t\t\t\t\t572 564 \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfLeasesExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXG6DK30",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact1589": {
"value": "4\ufffd2 LEASES
Accounting policy \u00a0
Right-of-use assets \u00a0
\n\t\t\t\t\tThe group recognises right-of-use assets at the commencement date of the lease (i\ufffde\ufffd, the date the underlying asset is available \u00a0
\n\t\t\t\t\tfor use)\ufffd Right-of-use assets are measured at cost, less any accumulated depreciation and impairment losses, and adjusted for \u00a0
\n\t\t\t\t\tany remeasurement of lease liabilities\ufffd The cost of right-of-use assets includes the amount of lease liabilities recognised, initial \u00a0
\n\t\t\t\t\tdirect costs incurred, and lease payments made at or before the commencement date less any lease incentives received\ufffd \u00a0
\n\t\t\t\t\tThe company applies the depreciation requirements in IAS 16 Property, Plant and Equipment in depreciating the right-of-use \u00a0
\n\t\t\t\t\tasset, except that the right-of-use asset is depreciated from the commencement date to the earlier of the lease term and the \u00a0
\n\t\t\t\t\tremaining useful life of the right-of-use asset. The company applies IAS 36 Impairment of Assets to determine whether the right- \u00a0
\n\t\t\t\t\tof-use asset is impaired and to account for any impairment loss identi\ufb01ed. \u00a0
\n\t\t\t\t\tLease liabilities \u00a0
\n\t\t\t\t\tAt the commencement date of the lease, the group recognises lease liabilities measured at the present value of lease payments \u00a0
\n\t\t\t\t\tto be made over the lease term\ufffd \u00a0
\n\t\t\t\t\tIn calculating the present value of lease payments, the group uses the incremental borrowing rate at the lease commencement \u00a0
\n\t\t\t\t\tdate if the interest rate implicit in the lease is not readily determinable\ufffd After the commencement date, the amount of lease liabilities \u00a0
\n\t\t\t\t\tis increased to re\ufb02ect the accretion of interest and reduced for the lease payments made. In addition, the carrying amount of lease \u00a0
\n\t\t\t\t\tliabilities is remeasured if there is a modi\ufb01cation, a change in the lease term, a change in the in-substance \ufb01xed lease payments \u00a0
\n\t\t\t\t\tor a change in the assessment to purchase the underlying asset\ufffd The group remeasures the lease liability upon the occurrence \u00a0
\n\t\t\t\t\tof certain events (e\ufffdg\ufffda change in the lease term, or a change in future lease payments resulting from a change in an index or rate \u00a0
\n\t\t\t\t\tused to determine those payments)\ufffd Generally, the amount of remeasurement of the lease liability is recognised as an adjustment \u00a0
\n\t\t\t\t\tto the right-of-use asset\ufffd \u00a0
\n\t\t\t\t\tShort-term leases and leases of low-value assets \u00a0
\n\t\t\t\t\tThe group applies the short-term lease recognition exemption to its short-term leases (i\ufffde\ufffd, those leases that have a lease term of \u00a0
\n\t\t\t\t\t12 months or less from the commencement date and do not contain a purchase option). The group also applies the lease of low- \u00a0
\n\t\t\t\t\tvalue assets recognition exemption to leases that are considered of low value. Lease payments on short-term leases and leases \u00a0
\n\t\t\t\t\tof low-value assets are recognised as expense on a straight-line basis over the lease term. \u00a0
\n\t\t\t\t\tIncremental borrowing rate \u00a0
\n\t\t\t\t\tIn calculating the present value of lease payments, the group uses the incremental borrowing rate at the lease commencement \u00a0
\n\t\t\t\t\tdate if the interest rate implicit in the lease is not readily determinable\ufffd \u00a0
\n\t\t\t\t\tDetermining the lease term of contracts with renewal options \u00a0
\n\t\t\t\t\tThe group determines the lease term as the non-cancellable term of the lease, together with any periods covered by an option \u00a0
\n\t\t\t\t\tto extend the lease if it is reasonably certain to be exercised, or any periods covered by an option to terminate the lease, if it is \u00a0
\n\t\t\t\t\treasonably certain not to be exercised. The group applies judgement in evaluating whether it is reasonably certain to exercise an \u00a0
\n\t\t\t\t\toption to renew a lease contract, considering all relevant factors that create an economic incentive for the group to exercise the \u00a0
\n\t\t\t\t\trenewal or not exercise an option to terminate. \u00a0
\n\t\t\t\t\tThe main part of the group\u2019s lease contracts relates to production and of\ufb01ce facilities. \u00a0
Lease contracts \u00a0
\n\t\t\t\t\tDuring 2022 Nordic Nanovector ASA had lease contracts related to external production facilities at one of the CMO\u2019s manufacturing \u00a0
\n\t\t\t\t\tsites of\ufb01ce facilities and of\ufb01ces machines. These contracts were registered as a right-of-use-asset with a lease liability. All leases \u00a0
\n\t\t\t\t\texcept related to of\ufb01ce machines have expired as per 31 December 2022. The group also lease of\ufb01ce facilities in Switzerland and \u00a0
\n\t\t\t\t\tDenmark with a lease term of 12 months or less. The lease in Denmark expired in October 2022 and was not renewed. The lease \u00a0
\n\t\t\t\t\tin Switzerland will expire in April 2023 and will not be renewed. The group applies the \u2018short-term lease\u2019 recognition exemptions \u00a0
\n\t\t\t\t\tfor these leases\ufffd \u00a0
\n\t\t\t\t\tThe company and the group has no signi\ufb01cant lease contract that includes an extention option. Undiscounted potential future \u00a0
\n\t\t\t\t\trental payment related to periods following the excercise date of extention and termination options that are not included in the \u00a0
\n\t\t\t\t\tlease term, was NOK 2.2 million in 2021. All payments are within a one year period. Management exercise signi\ufb01cant judgement \u00a0
\n\t\t\t\t\tin determining whether extension options are reasonable to be exercised. \u00a0
The following are the amounts recognised in the pro\ufb01t and loss. \u00a0
\n\t\t\t\t\tPARENT \u00a0
\n\t\t\t\t\tGROUP \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t(Amounts in NOK 1 000) \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t10 483 \u00a0
\n\t\t\t\t\t5 195 \u00a0
\n\t\t\t\t\tDepreciation and impairment of right-of-use assets \u00a0
\n\t\t\t\t\t5 195 \u00a0
\n\t\t\t\t\t10 483 \u00a0
\n\t\t\t\t\t414 \u00a0
\n\t\t\t\t\t66 \u00a0
\n\t\t\t\t\tInterest expense on lease liabilities \u00a0
\n\t\t\t\t\t66 \u00a0
\n\t\t\t\t\t414 \u00a0
\n\t\t\t\t\t85 \u00a0
\n\t\t\t\t\t75 \u00a0
\n\t\t\t\t\tExpense related to short-term lease \u00a0
\n\t\t\t\t\t366 \u00a0
\n\t\t\t\t\t263 \u00a0
\n\t\t\t\t\t10 982 \u00a0
\n\t\t\t\t\t5 336 \u00a0
\n\t\t\t\t\tTotal amount recognised in pro\ufb01t and loss \u00a0
\n\t\t\t\t\t5 627 \u00a0
\n\t\t\t\t\t11 160 \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfLeasePrepaymentsExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXG6DK30",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact1593": {
"value": "Accounting policy \u00a0
Right-of-use assets \u00a0
\n\t\t\t\t\tThe group recognises right-of-use assets at the commencement date of the lease (i\ufffde\ufffd, the date the underlying asset is available \u00a0
\n\t\t\t\t\tfor use)\ufffd Right-of-use assets are measured at cost, less any accumulated depreciation and impairment losses, and adjusted for \u00a0
\n\t\t\t\t\tany remeasurement of lease liabilities\ufffd The cost of right-of-use assets includes the amount of lease liabilities recognised, initial \u00a0
\n\t\t\t\t\tdirect costs incurred, and lease payments made at or before the commencement date less any lease incentives received\ufffd \u00a0
\n\t\t\t\t\tThe company applies the depreciation requirements in IAS 16 Property, Plant and Equipment in depreciating the right-of-use \u00a0
\n\t\t\t\t\tasset, except that the right-of-use asset is depreciated from the commencement date to the earlier of the lease term and the \u00a0
\n\t\t\t\t\tremaining useful life of the right-of-use asset. The company applies IAS 36 Impairment of Assets to determine whether the right- \u00a0
\n\t\t\t\t\tof-use asset is impaired and to account for any impairment loss identi\ufb01ed. \u00a0
\n\t\t\t\t\tLease liabilities \u00a0
\n\t\t\t\t\tAt the commencement date of the lease, the group recognises lease liabilities measured at the present value of lease payments \u00a0
\n\t\t\t\t\tto be made over the lease term\ufffd \u00a0
\n\t\t\t\t\tIn calculating the present value of lease payments, the group uses the incremental borrowing rate at the lease commencement \u00a0
\n\t\t\t\t\tdate if the interest rate implicit in the lease is not readily determinable\ufffd After the commencement date, the amount of lease liabilities \u00a0
\n\t\t\t\t\tis increased to re\ufb02ect the accretion of interest and reduced for the lease payments made. In addition, the carrying amount of lease \u00a0
\n\t\t\t\t\tliabilities is remeasured if there is a modi\ufb01cation, a change in the lease term, a change in the in-substance \ufb01xed lease payments \u00a0
\n\t\t\t\t\tor a change in the assessment to purchase the underlying asset\ufffd The group remeasures the lease liability upon the occurrence \u00a0
\n\t\t\t\t\tof certain events (e\ufffdg\ufffda change in the lease term, or a change in future lease payments resulting from a change in an index or rate \u00a0
\n\t\t\t\t\tused to determine those payments)\ufffd Generally, the amount of remeasurement of the lease liability is recognised as an adjustment \u00a0
\n\t\t\t\t\tto the right-of-use asset\ufffd \u00a0
\n\t\t\t\t\tShort-term leases and leases of low-value assets \u00a0
\n\t\t\t\t\tThe group applies the short-term lease recognition exemption to its short-term leases (i\ufffde\ufffd, those leases that have a lease term of \u00a0
\n\t\t\t\t\t12 months or less from the commencement date and do not contain a purchase option). The group also applies the lease of low- \u00a0
\n\t\t\t\t\tvalue assets recognition exemption to leases that are considered of low value. Lease payments on short-term leases and leases \u00a0
\n\t\t\t\t\tof low-value assets are recognised as expense on a straight-line basis over the lease term. \u00a0
\n\t\t\t\t\tIncremental borrowing rate \u00a0
\n\t\t\t\t\tIn calculating the present value of lease payments, the group uses the incremental borrowing rate at the lease commencement \u00a0
\n\t\t\t\t\tdate if the interest rate implicit in the lease is not readily determinable\ufffd \u00a0
\n\t\t\t\t\tDetermining the lease term of contracts with renewal options \u00a0
\n\t\t\t\t\tThe group determines the lease term as the non-cancellable term of the lease, together with any periods covered by an option \u00a0
\n\t\t\t\t\tto extend the lease if it is reasonably certain to be exercised, or any periods covered by an option to terminate the lease, if it is \u00a0
\n\t\t\t\t\treasonably certain not to be exercised. The group applies judgement in evaluating whether it is reasonably certain to exercise an \u00a0
\n\t\t\t\t\toption to renew a lease contract, considering all relevant factors that create an economic incentive for the group to exercise the \u00a0
\n\t\t\t\t\trenewal or not exercise an option to terminate. \u00a0
\n\t\t\t\t\tThe main part of the group\u2019s lease contracts relates to production and of\ufb01ce facilities. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForLeasesExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXG6DK30",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact1594": {
"value": "Total cash ou\ufb02ow for leases: \u00a0
\n\t\t\t\t\tPARENT \u00a0
\n\t\t\t\t\tGROUP \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t(Amounts in NOK 1 000) \u00a0
\n\t\t\t\t\t10 928 \u00a0
\n\t\t\t\t\t5 663 \u00a0
\n\t\t\t\t\tTotal cash out\ufb02ow for leases \u00a0
\n\t\t\t\t\t5 957 \u00a0
\n\t\t\t\t\t11 107 \u00a0
\n\t\t\t\t\tThe group also had NOK 0\ufffd2 million in non-cash additions to right-of-use assets and lease liabilities in 2022 (NOK 11\ufffd4 million in \u00a0
\n\t\t\t\t\tnon-cash additions in 2021)\ufffd \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfCashFlowStatementExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXG6DK30",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact1595": {
"value": "Section 5 - Risk management, \ufb01nancial instruments, capital structure \u00a0
\n\t\t\t\t\tand equity \u00a0
\n\t\t\t\t\t5\ufffd1 RISK MANAGEMENT OBJECTIVES AND POLICIES \u00a0
Operational and market risks \u00a0
\n\t\t\t\t\tNordic Nanovector is currently in a development phase involving activities that entail exposure to various risks. Nordic Nanovector\u2019s \u00a0
\n\t\t\t\t\tstrategy is to continuously identify, minimise and mitigate potential risks, and risk assessment and management are an integral \u00a0
\n\t\t\t\t\tpart of Nordic Nanovector\u2019s operations. \u00a0
The Company has not completed clinical development for any of its current product candidates and has not previously \ufb01led for or \u00a0
\n\t\t\t\t\tobtained marketing approval from any regulatory authority for any product candidate\ufffd \u00a0
\n\t\t\t\t\tDelay or failure of the Company\u2019s clinical trials may adversely impact the Company\u2019s ability to obtain regulatory approval for \u00a0
\n\t\t\t\t\tand commercialise its current and future product candidates. The Company depends on the collaboration with CROs, medical \u00a0
\n\t\t\t\t\tinstitutions, laboratories and drug product manufacturers in order to conduct clinical testing in compliance with requirements from \u00a0
\n\t\t\t\t\tappropriate regulatory authorities in the relevant jurisdictions. The Company\u2019s ability to complete clinical trials in a timely fashion \u00a0
\n\t\t\t\t\tor at all may be impacted by several factors, including the following: \u00a0
\n\t\t\t\t\t\u2022
\n\t\t\t\t\tdelays in obtaining or failures to obtain regulatory approval to commence clinical trials because of safety concerns of regulators \u00a0
\n\t\t\t\t\trelating to the Company\u2019s product candidate or failure to follow regulatory guidelines and general safety issues; \u00a0
\n\t\t\t\t\t\u2022
\n\t\t\t\t\tactions by regulators to suspend a clinical trial or to temporarily or permanently stop a trial for a variety of reasons, principally \u00a0
\n\t\t\t\t\tfor safety concerns; \u00a0
\n\t\t\t\t\t\u2022
\n\t\t\t\t\tdelays in recruiting patients to participate in a clinical trial, and the rate of patient enrolment, which is itself a function of many \u00a0
\n\t\t\t\t\tfactors, including size of the patient population, the proximity of patients to the clinical trial sites, the eligibility criteria for the \u00a0
\n\t\t\t\t\ttrial and the nature of the protocol; \u00a0
\n\t\t\t\t\t\u2022
\n\t\t\t\t\tcompliance of patients and investigators with the protocol and applicable regulations; failure of clinical trials and clinical \u00a0
\n\t\t\t\t\tinvestigators to comply with relevant clinical protocol, or similar requirements in other jurisdictions; \u00a0
\n\t\t\t\t\t\u2022
\n\t\t\t\t\tfailure of third-party contractors/external service providers to satisfy their contractual duties, comply with regulations or meet \u00a0
\n\t\t\t\t\texpected deadlines; \u00a0
\n\t\t\t\t\t\u2022
\n\t\t\t\t\tdelays or failures in reaching agreement on acceptable terms with prospective trial sites; \u00a0
\n\t\t\t\t\t\u2022
\n\t\t\t\t\tdetermination by regulators that the clinical design is not adequate; and \u00a0
\n\t\t\t\t\t\u2022
\n\t\t\t\t\tdelays or failures in obtaining suf\ufb01cient clinical supplies for use in trials, due to failures in one or more steps of the manufacturing \u00a0
\n\t\t\t\t\tprocess and/or improper shipment/handling/delivery by the Contract Manufacturing Organisations (\u201cCMOs\u201d) to the clinical \u00a0
\n\t\t\t\t\ttrial sites\ufffd \u00a0
\n\t\t\t\t\tEven if the Company receives regulatory agency approval, the Company may not be successful in commercialising approved \u00a0
\n\t\t\t\t\tproduct candidates\ufffd \u00a0
In most markets, drug prices and reimbursement levels are regulated or in\ufb02uenced by health authorities, other healthcare providers, \u00a0
\n\t\t\t\t\tinsurance companies or health maintenance organisations. There is a risk that the Company\u2019s drugs, following required approvals, \u00a0
\n\t\t\t\t\twill not obtain reimbursement in line with the selling prices or reimbursement levels anticipated by the Company. If actual prices \u00a0
\n\t\t\t\t\tand reimbursement levels granted to the Company\u2019s products happen to be lower than anticipated, this may have a negative \u00a0
\n\t\t\t\t\timpact on the pro\ufb01tability of its products. and the overall business. \u00a0
The Company has an IP-strategy to protect its intellectual property and know-how related to inter alia its products, methods, \u00a0
\n\t\t\t\t\tprocesses and other technologies, and trade secrets\ufffd Through its IP strategy the Company seeks to prevent third parties from \u00a0
\n\t\t\t\t\tinfringing its proprietary rights and ensure that it operates without infringing the proprietary rights of third parties. As part of its \u00a0
\n\t\t\t\t\tIP strategy, the Company to date holds certain exclusive patent rights in major markets, however, the Company cannot predict \u00a0
\n\t\t\t\t\tthe degree and range of protection any patents will afford against competitors and competing technologies. There is always a \u00a0
\n\t\t\t\t\trisk that third parties may \ufb01nd ways to invalidate or otherwise circumvent the patents. There is a risk that current or future patent \u00a0
\n\t\t\t\t\tapplications submitted by the Company may be delayed or rejected, and a risk that others may obtain patents claiming aspects \u00a0
\n\t\t\t\t\tsimilar to those covered by the Company\u2019s patents and patents applications. There is also a risk that the Company may need to \u00a0
\n\t\t\t\t\tinitiate or defend litigation or administrative proceedings, to protect its own patents. Litigation or proceedings may be costly and \u00a0
\n\t\t\t\t\tshould the Company\u2019s technology be found to infringe upon third parties\u2019 rights, that could limit the Company\u2019s freedom to operate \u00a0
\n\t\t\t\t\tor could subject the Company to signi\ufb01cant damages or an injunction preventing the manufacture, sale or use of its affected \u00a0
\n\t\t\t\t\tproducts\ufffd \u00a0
\n\t\t\t\t\tThe Company currently maintains clinical trial liability insurance for each trial in each country\ufffd
Any claims against the Company, \u00a0
\n\t\t\t\t\tregardless of their merit, could materially and adversely affect its \ufb01nancial condition, in addition to consuming the time and \u00a0
\n\t\t\t\t\tattention of the management\ufffd \u00a0
\n\t\t\t\t\tThe biopharma industry is highly competitive with many large players and subject to rapid and substantial technological change. \u00a0
\n\t\t\t\t\tDevelopments by others may render the Company\u2019s product candidates or technologies obsolete or uncompetitive. The Company\u2019s \u00a0
\n\t\t\t\t\tdrug candidates may not gain the market acceptance required to be pro\ufb01table even if they successfully complete clinical trials and \u00a0
\n\t\t\t\t\treceive approval for sale by the relevant regulatory authorities\ufffd \u00a0
\n\t\t\t\t\tThe Company is exposed to risk of relying upon third parties for clinical trials and manufacturing\ufffd The Company cannot be certain \u00a0
\n\t\t\t\t\tthat it will be able to enter into or maintain satisfactory agreements with third-party suppliers, such as CROs or CMOs, for the \u00a0
\n\t\t\t\t\tconduct of clinical trials or product manufacturing, respectively. The Company\u2019s need to recruit, amend or change providers for \u00a0
\n\t\t\t\t\tthe conduct of clinical trials might impact the timelines of the conduct of such trials\ufffd \u00a0
\n\t\t\t\t\tThe Company\u2019s failure to enter into agreements with such suppliers or manufacturers on reasonable terms, if at all, could have a \u00a0
\n\t\t\t\t\tmaterial and adverse effect on the business, its \ufb01nancial condition and results of operations. \u00a0
\n\t\t\t\t\tPoor manufacturing performance of third-party manufacturers, a disruption in the supply or the Company\u2019s failure to accurately \u00a0
\n\t\t\t\t\tpredict the demand for any future commercial sale of a product could have a signi\ufb01cant adverse effect on the Company\u2019s business, \u00a0
\n\t\t\t\t\t\ufb01nancial condition or results of operations. \u00a0
\n\t\t\t\t\tThe Company believes that its safety procedures for handling and disposing of all materials comply with the highest environmental \u00a0
\n\t\t\t\t\tand safety standards; however, there will always be a risk of accidental contamination or injury. By law, radioactive materials \u00a0
\n\t\t\t\t\tmay only be disposed of at certain approved facilities\ufffd When handling and disposing of radioactive materials, there is a risk of \u00a0
\n\t\t\t\t\taccidental contamination or emission damage\ufffd Breach of rules for handling and disposing of radioactive materials may involve \u00a0
\n\t\t\t\t\tsanctions for the Company, as well as a negative reputation for the Company. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfMarketRiskExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXG6DK30",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact1600": {
"value": "Section 5 - Risk management, \ufb01nancial instruments, capital structure \u00a0
\n\t\t\t\t\tand equity \u00a0
\n\t\t\t\t\t5\ufffd1 RISK MANAGEMENT OBJECTIVES AND POLICIES \u00a0
Operational and market risks \u00a0
\n\t\t\t\t\tNordic Nanovector is currently in a development phase involving activities that entail exposure to various risks. Nordic Nanovector\u2019s \u00a0
\n\t\t\t\t\tstrategy is to continuously identify, minimise and mitigate potential risks, and risk assessment and management are an integral \u00a0
\n\t\t\t\t\tpart of Nordic Nanovector\u2019s operations. \u00a0
The Company has not completed clinical development for any of its current product candidates and has not previously \ufb01led for or \u00a0
\n\t\t\t\t\tobtained marketing approval from any regulatory authority for any product candidate\ufffd \u00a0
\n\t\t\t\t\tDelay or failure of the Company\u2019s clinical trials may adversely impact the Company\u2019s ability to obtain regulatory approval for \u00a0
\n\t\t\t\t\tand commercialise its current and future product candidates. The Company depends on the collaboration with CROs, medical \u00a0
\n\t\t\t\t\tinstitutions, laboratories and drug product manufacturers in order to conduct clinical testing in compliance with requirements from \u00a0
\n\t\t\t\t\tappropriate regulatory authorities in the relevant jurisdictions. The Company\u2019s ability to complete clinical trials in a timely fashion \u00a0
\n\t\t\t\t\tor at all may be impacted by several factors, including the following: \u00a0
\n\t\t\t\t\t\u2022
\n\t\t\t\t\tdelays in obtaining or failures to obtain regulatory approval to commence clinical trials because of safety concerns of regulators \u00a0
\n\t\t\t\t\trelating to the Company\u2019s product candidate or failure to follow regulatory guidelines and general safety issues; \u00a0
\n\t\t\t\t\t\u2022
\n\t\t\t\t\tactions by regulators to suspend a clinical trial or to temporarily or permanently stop a trial for a variety of reasons, principally \u00a0
\n\t\t\t\t\tfor safety concerns; \u00a0
\n\t\t\t\t\t\u2022
\n\t\t\t\t\tdelays in recruiting patients to participate in a clinical trial, and the rate of patient enrolment, which is itself a function of many \u00a0
\n\t\t\t\t\tfactors, including size of the patient population, the proximity of patients to the clinical trial sites, the eligibility criteria for the \u00a0
\n\t\t\t\t\ttrial and the nature of the protocol; \u00a0
\n\t\t\t\t\t\u2022
\n\t\t\t\t\tcompliance of patients and investigators with the protocol and applicable regulations; failure of clinical trials and clinical \u00a0
\n\t\t\t\t\tinvestigators to comply with relevant clinical protocol, or similar requirements in other jurisdictions; \u00a0
\n\t\t\t\t\t\u2022
\n\t\t\t\t\tfailure of third-party contractors/external service providers to satisfy their contractual duties, comply with regulations or meet \u00a0
\n\t\t\t\t\texpected deadlines; \u00a0
\n\t\t\t\t\t\u2022
\n\t\t\t\t\tdelays or failures in reaching agreement on acceptable terms with prospective trial sites; \u00a0
\n\t\t\t\t\t\u2022
\n\t\t\t\t\tdetermination by regulators that the clinical design is not adequate; and \u00a0
\n\t\t\t\t\t\u2022
\n\t\t\t\t\tdelays or failures in obtaining suf\ufb01cient clinical supplies for use in trials, due to failures in one or more steps of the manufacturing \u00a0
\n\t\t\t\t\tprocess and/or improper shipment/handling/delivery by the Contract Manufacturing Organisations (\u201cCMOs\u201d) to the clinical \u00a0
\n\t\t\t\t\ttrial sites\ufffd \u00a0
\n\t\t\t\t\tEven if the Company receives regulatory agency approval, the Company may not be successful in commercialising approved \u00a0
\n\t\t\t\t\tproduct candidates\ufffd \u00a0
In most markets, drug prices and reimbursement levels are regulated or in\ufb02uenced by health authorities, other healthcare providers, \u00a0
\n\t\t\t\t\tinsurance companies or health maintenance organisations. There is a risk that the Company\u2019s drugs, following required approvals, \u00a0
\n\t\t\t\t\twill not obtain reimbursement in line with the selling prices or reimbursement levels anticipated by the Company. If actual prices \u00a0
\n\t\t\t\t\tand reimbursement levels granted to the Company\u2019s products happen to be lower than anticipated, this may have a negative \u00a0
\n\t\t\t\t\timpact on the pro\ufb01tability of its products. and the overall business. \u00a0
The Company has an IP-strategy to protect its intellectual property and know-how related to inter alia its products, methods, \u00a0
\n\t\t\t\t\tprocesses and other technologies, and trade secrets\ufffd Through its IP strategy the Company seeks to prevent third parties from \u00a0
\n\t\t\t\t\tinfringing its proprietary rights and ensure that it operates without infringing the proprietary rights of third parties. As part of its \u00a0
\n\t\t\t\t\tIP strategy, the Company to date holds certain exclusive patent rights in major markets, however, the Company cannot predict \u00a0
\n\t\t\t\t\tthe degree and range of protection any patents will afford against competitors and competing technologies. There is always a \u00a0
\n\t\t\t\t\trisk that third parties may \ufb01nd ways to invalidate or otherwise circumvent the patents. There is a risk that current or future patent \u00a0
\n\t\t\t\t\tapplications submitted by the Company may be delayed or rejected, and a risk that others may obtain patents claiming aspects \u00a0
\n\t\t\t\t\tsimilar to those covered by the Company\u2019s patents and patents applications. There is also a risk that the Company may need to \u00a0
\n\t\t\t\t\tinitiate or defend litigation or administrative proceedings, to protect its own patents. Litigation or proceedings may be costly and \u00a0
\n\t\t\t\t\tshould the Company\u2019s technology be found to infringe upon third parties\u2019 rights, that could limit the Company\u2019s freedom to operate \u00a0
\n\t\t\t\t\tor could subject the Company to signi\ufb01cant damages or an injunction preventing the manufacture, sale or use of its affected \u00a0
\n\t\t\t\t\tproducts\ufffd \u00a0
\n\t\t\t\t\tThe Company currently maintains clinical trial liability insurance for each trial in each country\ufffd
Any claims against the Company, \u00a0
\n\t\t\t\t\tregardless of their merit, could materially and adversely affect its \ufb01nancial condition, in addition to consuming the time and \u00a0
\n\t\t\t\t\tattention of the management\ufffd \u00a0
\n\t\t\t\t\tThe biopharma industry is highly competitive with many large players and subject to rapid and substantial technological change. \u00a0
\n\t\t\t\t\tDevelopments by others may render the Company\u2019s product candidates or technologies obsolete or uncompetitive. The Company\u2019s \u00a0
\n\t\t\t\t\tdrug candidates may not gain the market acceptance required to be pro\ufb01table even if they successfully complete clinical trials and \u00a0
\n\t\t\t\t\treceive approval for sale by the relevant regulatory authorities\ufffd \u00a0
\n\t\t\t\t\tThe Company is exposed to risk of relying upon third parties for clinical trials and manufacturing\ufffd The Company cannot be certain \u00a0
\n\t\t\t\t\tthat it will be able to enter into or maintain satisfactory agreements with third-party suppliers, such as CROs or CMOs, for the \u00a0
\n\t\t\t\t\tconduct of clinical trials or product manufacturing, respectively. The Company\u2019s need to recruit, amend or change providers for \u00a0
\n\t\t\t\t\tthe conduct of clinical trials might impact the timelines of the conduct of such trials\ufffd \u00a0
\n\t\t\t\t\tThe Company\u2019s failure to enter into agreements with such suppliers or manufacturers on reasonable terms, if at all, could have a \u00a0
\n\t\t\t\t\tmaterial and adverse effect on the business, its \ufb01nancial condition and results of operations. \u00a0
\n\t\t\t\t\tPoor manufacturing performance of third-party manufacturers, a disruption in the supply or the Company\u2019s failure to accurately \u00a0
\n\t\t\t\t\tpredict the demand for any future commercial sale of a product could have a signi\ufb01cant adverse effect on the Company\u2019s business, \u00a0
\n\t\t\t\t\t\ufb01nancial condition or results of operations. \u00a0
\n\t\t\t\t\tThe Company believes that its safety procedures for handling and disposing of all materials comply with the highest environmental \u00a0
\n\t\t\t\t\tand safety standards; however, there will always be a risk of accidental contamination or injury. By law, radioactive materials \u00a0
\n\t\t\t\t\tmay only be disposed of at certain approved facilities\ufffd When handling and disposing of radioactive materials, there is a risk of \u00a0
\n\t\t\t\t\taccidental contamination or emission damage\ufffd Breach of rules for handling and disposing of radioactive materials may involve \u00a0
\n\t\t\t\t\tsanctions for the Company, as well as a negative reputation for the Company. \u00a0
Financial risk \u00a0
\n\t\t\t\t\tInterest rate risk \u00a0
\n\t\t\t\t\tThe Nordic Nanovector group has no interest-bearing debt except leasing liabilities, where the underlying interest rate is determined \u00a0
\n\t\t\t\t\twhen the leasing agreement starts. Bank deposits are exposed to market \ufb02uctuations of interest rates, which impact the \ufb01nancial \u00a0
\n\t\t\t\t\tincome\ufffd The Nordic Nanovector group had NOK 3\ufffd2 million (NOK 1\ufffd1 million) in interest income as of year-end\ufffd \u00a0
Exchange rate risk \u00a0
\n\t\t\t\t\tThe value of non-Norwegian currency denominated revenues and costs will be affected by changes in currency exchange rates \u00a0
\n\t\t\t\t\tor exchange control regulations\ufffd The Group undertakes various transactions in foreign currencies and is consequently exposed \u00a0
\n\t\t\t\t\tto \ufb02uctuations in exchange rates. The exposure arises largely from research and development expenses. The group is mainly \u00a0
\n\t\t\t\t\texposed to \ufb02uctuations in euro (EUR), pounds sterling (GBP), US dollar (USD) and Swiss franc (CHF). \u00a0
\n\t\t\t\t\tExchange rate \ufb02uctuations mainly impact cash and cash equivalents in the statement of \ufb01nancial position and \ufb01nancial items in \u00a0
\n\t\t\t\t\tthe statement of pro\ufb01t and loss, reported as \ufb01nancial income or expenses. \u00a0
\n\t\t\t\t\tNordic Nanovector strives to identify and manage material foreign currency exposures and to minimise the potential effects of \u00a0
\n\t\t\t\t\tcurrency \ufb02uctuations on the cash \ufb02ow. In order to achieve this, and to provide an operational hedge for purchases made in foreign \u00a0
\n\t\t\t\t\tcurrencies, the Company has made deposits in foreign currency bank accounts and continuously monitors the level of these funds\ufffd \u00a0
\n\t\t\t\t\tThe parent\u2019s deposits in foreign currencies at year-end 2022 amounted to an equivalent of NOK 6.9 million (NOK 111.7 million). \u00a0
Credit risk \u00a0
\n\t\t\t\t\tThe Nordic Nanovector group is primarily exposed to credit risk associated with accounts receivable and other current receivables. \u00a0
\n\t\t\t\t\tThe Group has no revenues\ufffd The Nordic Nanovector group has not suffered any losses on receivables during 2022\ufffd Other current \u00a0
\n\t\t\t\t\treceivables are mainly related to grants from the government institution Research Council of Norway, and prepayments of services \u00a0
\n\t\t\t\t\tto suppliers. The Group considers its credit risk as low. \u00a0
Liquidity risk \u00a0
\n\t\t\t\t\tThe Company closely monitors, plans and reports its cash \ufb02ow, considering short- and long-term forecasts. The Group does not \u00a0
\n\t\t\t\t\thave any loan agreements\ufffd \u00a0
\n\t\t\t\t\tThe Company was successful in raising new funds totaling NOK 250 million in gross proceeds during the \ufb01rst quarter of 2022. \u00a0
\n\t\t\t\t\tManagement will continue to focus on ef\ufb01cient operations, close monitoring and planning of the cash resources, and maintaining \u00a0
\n\t\t\t\t\ta clear business development strategy to position the Company for a possible future transaction that would bene\ufb01t all of its \u00a0
\n\t\t\t\t\tstakeholders\ufffd \u00a0
Financial instruments\u2019 sensitivity for changes in exchange rate at year-end is shown in the table below. Based on historic variation \u00a0
\n\t\t\t\t\tin exchange rates, management considers the percentages applied in the calculation as a reasonably possibly change\ufffd \u00a0
\n\t\t\t\t\tGROUP \u00a0
\n\t\t\t\t\tEffect on pro\ufb01t/loss before tax3) \u00a0
\n\t\t\t\t\t(Amounts in NOK 1 000) \u00a0
\n\t\t\t\t\tCurrency1) \u00a0
\n\t\t\t\t\tChange in exchange rate2) \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t-10% \u00a0
\n\t\t\t\t\t-160 \u00a0
\n\t\t\t\t\t-7 337 \u00a0
\n\t\t\t\t\tEUR \u00a0
\n\t\t\t\t\t+10% \u00a0
\n\t\t\t\t\t160 \u00a0
\n\t\t\t\t\t7 337 \u00a0
\n\t\t\t\t\t-10% \u00a0
\n\t\t\t\t\t-330 \u00a0
\n\t\t\t\t\t-2 238 \u00a0
\n\t\t\t\t\tGBP \u00a0
\n\t\t\t\t\t+10% \u00a0
\n\t\t\t\t\t330 \u00a0
\n\t\t\t\t\t2 238 \u00a0
\n\t\t\t\t\t-10% \u00a0
\n\t\t\t\t\t-99 \u00a0
\n\t\t\t\t\t-1 218 \u00a0
\n\t\t\t\t\tUSD \u00a0
\n\t\t\t\t\t+10% \u00a0
\n\t\t\t\t\t99 \u00a0
\n\t\t\t\t\t1 218 \u00a0
\n\t\t\t\t\t-10% \u00a0
\n\t\t\t\t\t-103 \u00a0
\n\t\t\t\t\t-382 \u00a0
\n\t\t\t\t\tCHF \u00a0
\n\t\t\t\t\t+10% \u00a0
\n\t\t\t\t\t103 \u00a0
\n\t\t\t\t\t382 \u00a0
\n\t\t\t\t\t1) The group\u2019s cash reserves are deposited in NOK, EUR, USD, CHF and GBP. \u00a0
\n\t\t\t\t\t2) Positive change represents an increased cost in NOK to purchase foreign currency. \u00a0
\n\t\t\t\t\t3) Positive \ufb01gure represents reduced loss while negative \ufb01gures increases loss. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfFinancialRiskManagementExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXG6DK30",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact1610": {
"value": "Credit risk \u00a0
\n\t\t\t\t\tThe Nordic Nanovector group is primarily exposed to credit risk associated with accounts receivable and other current receivables. \u00a0
\n\t\t\t\t\tThe Group has no revenues\ufffd The Nordic Nanovector group has not suffered any losses on receivables during 2022\ufffd Other current \u00a0
\n\t\t\t\t\treceivables are mainly related to grants from the government institution Research Council of Norway, and prepayments of services \u00a0
\n\t\t\t\t\tto suppliers. The Group considers its credit risk as low. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfCreditRiskExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXG6DK30",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact1611": {
"value": "Liquidity risk \u00a0
\n\t\t\t\t\tThe Company closely monitors, plans and reports its cash \ufb02ow, considering short- and long-term forecasts. The Group does not \u00a0
\n\t\t\t\t\thave any loan agreements\ufffd \u00a0
\n\t\t\t\t\tThe Company was successful in raising new funds totaling NOK 250 million in gross proceeds during the \ufb01rst quarter of 2022. \u00a0
\n\t\t\t\t\tManagement will continue to focus on ef\ufb01cient operations, close monitoring and planning of the cash resources, and maintaining \u00a0
\n\t\t\t\t\ta clear business development strategy to position the Company for a possible future transaction that would bene\ufb01t all of its \u00a0
\n\t\t\t\t\tstakeholders\ufffd \u00a0
Financial instruments\u2019 sensitivity for changes in exchange rate at year-end is shown in the table below. Based on historic variation \u00a0
\n\t\t\t\t\tin exchange rates, management considers the percentages applied in the calculation as a reasonably possibly change\ufffd \u00a0
\n\t\t\t\t\tGROUP \u00a0
\n\t\t\t\t\tEffect on pro\ufb01t/loss before tax3) \u00a0
\n\t\t\t\t\t(Amounts in NOK 1 000) \u00a0
\n\t\t\t\t\tCurrency1) \u00a0
\n\t\t\t\t\tChange in exchange rate2) \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t-10% \u00a0
\n\t\t\t\t\t-160 \u00a0
\n\t\t\t\t\t-7 337 \u00a0
\n\t\t\t\t\tEUR \u00a0
\n\t\t\t\t\t+10% \u00a0
\n\t\t\t\t\t160 \u00a0
\n\t\t\t\t\t7 337 \u00a0
\n\t\t\t\t\t-10% \u00a0
\n\t\t\t\t\t-330 \u00a0
\n\t\t\t\t\t-2 238 \u00a0
\n\t\t\t\t\tGBP \u00a0
\n\t\t\t\t\t+10% \u00a0
\n\t\t\t\t\t330 \u00a0
\n\t\t\t\t\t2 238 \u00a0
\n\t\t\t\t\t-10% \u00a0
\n\t\t\t\t\t-99 \u00a0
\n\t\t\t\t\t-1 218 \u00a0
\n\t\t\t\t\tUSD \u00a0
\n\t\t\t\t\t+10% \u00a0
\n\t\t\t\t\t99 \u00a0
\n\t\t\t\t\t1 218 \u00a0
\n\t\t\t\t\t-10% \u00a0
\n\t\t\t\t\t-103 \u00a0
\n\t\t\t\t\t-382 \u00a0
\n\t\t\t\t\tCHF \u00a0
\n\t\t\t\t\t+10% \u00a0
\n\t\t\t\t\t103 \u00a0
\n\t\t\t\t\t382 \u00a0
\n\t\t\t\t\t1) The group\u2019s cash reserves are deposited in NOK, EUR, USD, CHF and GBP. \u00a0
\n\t\t\t\t\t2) Positive change represents an increased cost in NOK to purchase foreign currency. \u00a0
\n\t\t\t\t\t3) Positive \ufb01gure represents reduced loss while negative \ufb01gures increases loss. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfLiquidityRiskExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXG6DK30",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact1613": {
"value": "5\ufffd2 FINANCIAL
INSTRUMENTS \u00a0
Accounting policy \u00a0
\n\t\t\t\t\tFinancial assets \u00a0
\n\t\t\t\t\tInitial recognition and measurement \u00a0
\n\t\t\t\t\tFinancial assets are classi\ufb01ed, at initial recognition, as subsequently measured at amortised cost, fair value through other \u00a0
\n\t\t\t\t\tcomprehensive income (OCI), and fair value through pro\ufb01t or loss. Financial assets are recognised initially at fair value plus, in the \u00a0
\n\t\t\t\t\tcase of \ufb01nancial assets not recorded at fair value through pro\ufb01t or loss, transaction costs that are attributable to the acquisition of \u00a0
\n\t\t\t\t\tthe \ufb01nancial asset. \u00a0
\n\t\t\t\t\tFinancial assets at amortised cost \u00a0
\n\t\t\t\t\tThis category is the most relevant to the group. The group measures \ufb01nancial assets at amortised cost if both of the following \u00a0
\n\t\t\t\t\tconditions are met: The \ufb01nancial asset is held within a business model with the objective to hold \ufb01nancial assets in order to collect \u00a0
\n\t\t\t\t\tcontractual cash \ufb02ows and The contractual terms of the \ufb01nancial asset give rise on speci\ufb01ed dates to cash \ufb02ows that are solely \u00a0
\n\t\t\t\t\tpayments of principal and interest on the principal amount outstanding\ufffd \u00a0
\n\t\t\t\t\tFinancial assets at amortised cost are subsequently measured using the effective interest (EIR) method and are subject to \u00a0
\n\t\t\t\t\timpairment. Gains and losses are recognised in pro\ufb01t or loss when the asset is derecognised, modi\ufb01ed or impaired. \u00a0
Financial assets at fair value through pro\ufb01t or loss \u00a0
\n\t\t\t\t\tFinancial assets at fair value through pro\ufb01t or loss are carried in the statement of \ufb01nancial position at fair value with net changes \u00a0
\n\t\t\t\t\tin fair value recognised in the statement of pro\ufb01t or loss. The group does not have any \ufb01nancial assets at fair value through pro\ufb01t \u00a0
\n\t\t\t\t\tor loss\ufffd \u00a0
Impairment of \ufb01nancial assets \u00a0
\n\t\t\t\t\tThe group assesses, at each reporting date, whether there is objective evidence that a \ufb01nancial asset or a group of \ufb01nancial assets \u00a0
\n\t\t\t\t\tis impaired\ufffd An impairment exists if one or more events that has occurred since the initial recognition of the asset (an incurred \u00a0
\n\t\t\t\t\t\u2018loss event\u2019), has an impact on the estimated future cash \ufb02ows of the \ufb01nancial asset or the group of \ufb01nancial assets that can be \u00a0
\n\t\t\t\t\treliably estimated\ufffd \u00a0
\n\t\t\t\t\tThe amount of any impairment loss identi\ufb01ed is measured as the difference between the asset\u2019s carrying amount and the present \u00a0
\n\t\t\t\t\tvalue of estimated future cash \ufb02ows (excluding future expected credit losses that have not yet been incurred). \u00a0
Financial liabilities \u00a0
\n\t\t\t\t\tInitial recognition and measurement \u00a0
\n\t\t\t\t\tFinancial liabilities are classi\ufb01ed, at initial recognition, as \ufb01nancial liabilities at fair value through pro\ufb01t or loss, loans and borrowings, \u00a0
\n\t\t\t\t\tpayables, or as derivatives designated as hedging instruments in an effective hedge, as appropriate. All \ufb01nancial liabilities are \u00a0
\n\t\t\t\t\trecognised initially at fair value and, in the case of loans and borrowings and payables, net of directly attributable transaction costs. \u00a0
\n\t\t\t\t\tThe group\u2019s \ufb01nancial liabilities include accounts and other payables \u00a0
\n\t\t\t\t\tSubsequent measurement \u00a0
\n\t\t\t\t\tFor purposes of subsequent measurement, \ufb01nancial liabilities are classi\ufb01ed in two categories: \u00a0
\n\t\t\t\t\t\u2022 Financial liabilities at fair value through pro\ufb01t or loss \u00a0
\n\t\t\t\t\t\u2022 Financial liabilities at amortised cost (loans and borrowings) \u00a0
\n\t\t\t\t\tThe group only has \ufb01nancial liabilities measured at amortised cost \u00a0
GROUP \u00a0
\n\t\t\t\t\t31\ufffd12\ufffd2022 \u00a0
\n\t\t\t\t\t31\ufffd12\ufffd2021 \u00a0
Financial assets \u00a0
\n\t\t\t\t\tFinancial assets \u00a0
\n\t\t\t\t\tat amortised \u00a0
\n\t\t\t\t\tOther \u00a0
\n\t\t\t\t\tat amortised \u00a0
\n\t\t\t\t\tOther \u00a0
\n\t\t\t\t\t(Amounts in NOK 1 000) \u00a0
\n\t\t\t\t\tNote \u00a0
\n\t\t\t\t\tcosts \u00a0
\n\t\t\t\t\tliabilities \u00a0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\tcosts \u00a0
\n\t\t\t\t\tliabilities \u00a0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\tASSETS \u00a0
\n\t\t\t\t\tCash and cash equivalents \u00a0
\n\t\t\t\t\t5\ufffd3 \u00a0
\n\t\t\t\t\t98 716 \u00a0
\n\t\t\t\t\t98 716 \u00a0
\n\t\t\t\t\t277 706 \u00a0
\n\t\t\t\t\t277 706 \u00a0
\n\t\t\t\t\tOther current receivables \u00a0
\n\t\t\t\t\tand prepayments \u00a0
\n\t\t\t\t\t3\ufffd3, 3\ufffd4 \u00a0
\n\t\t\t\t\t10 392 \u00a0
\n\t\t\t\t\t10 392 \u00a0
\n\t\t\t\t\t13 023 \u00a0
\n\t\t\t\t\t13 023 \u00a0
\n\t\t\t\t\tTotal \ufb01nancial assets \u00a0
\n\t\t\t\t\t109 108 \u00a0
\n\t\t\t\t\t109 108 \u00a0
\n\t\t\t\t\t290 729 \u00a0
\n\t\t\t\t\t290 729 \u00a0
LIABILITIES \u00a0
\n\t\t\t\t\tOther \ufb01nancial liabilities \u00a0
\n\t\t\t\t\tAccounts and other payables \u00a0
\n\t\t\t\t\t5\ufffd4 \u00a0
\n\t\t\t\t\t44 124 \u00a0
\n\t\t\t\t\t44 124 \u00a0
\n\t\t\t\t\t146 187 \u00a0
\n\t\t\t\t\t146 187 \u00a0
\n\t\t\t\t\tTotal liabilities \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t44 124 \u00a0
\n\t\t\t\t\t44 124 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t146 187 \u00a0
\n\t\t\t\t\t146 187 \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfFinancialInstrumentsExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXG6DK30",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact1621": {
"value": "5\ufffd2 FINANCIAL
INSTRUMENTS \u00a0
Accounting policy \u00a0
\n\t\t\t\t\tFinancial assets \u00a0
\n\t\t\t\t\tInitial recognition and measurement \u00a0
\n\t\t\t\t\tFinancial assets are classi\ufb01ed, at initial recognition, as subsequently measured at amortised cost, fair value through other \u00a0
\n\t\t\t\t\tcomprehensive income (OCI), and fair value through pro\ufb01t or loss. Financial assets are recognised initially at fair value plus, in the \u00a0
\n\t\t\t\t\tcase of \ufb01nancial assets not recorded at fair value through pro\ufb01t or loss, transaction costs that are attributable to the acquisition of \u00a0
\n\t\t\t\t\tthe \ufb01nancial asset. \u00a0
\n\t\t\t\t\tFinancial assets at amortised cost \u00a0
\n\t\t\t\t\tThis category is the most relevant to the group. The group measures \ufb01nancial assets at amortised cost if both of the following \u00a0
\n\t\t\t\t\tconditions are met: The \ufb01nancial asset is held within a business model with the objective to hold \ufb01nancial assets in order to collect \u00a0
\n\t\t\t\t\tcontractual cash \ufb02ows and The contractual terms of the \ufb01nancial asset give rise on speci\ufb01ed dates to cash \ufb02ows that are solely \u00a0
\n\t\t\t\t\tpayments of principal and interest on the principal amount outstanding\ufffd \u00a0
\n\t\t\t\t\tFinancial assets at amortised cost are subsequently measured using the effective interest (EIR) method and are subject to \u00a0
\n\t\t\t\t\timpairment. Gains and losses are recognised in pro\ufb01t or loss when the asset is derecognised, modi\ufb01ed or impaired. \u00a0
Financial liabilities \u00a0
\n\t\t\t\t\tInitial recognition and measurement \u00a0
\n\t\t\t\t\tFinancial liabilities are classi\ufb01ed, at initial recognition, as \ufb01nancial liabilities at fair value through pro\ufb01t or loss, loans and borrowings, \u00a0
\n\t\t\t\t\tpayables, or as derivatives designated as hedging instruments in an effective hedge, as appropriate. All \ufb01nancial liabilities are \u00a0
\n\t\t\t\t\trecognised initially at fair value and, in the case of loans and borrowings and payables, net of directly attributable transaction costs. \u00a0
\n\t\t\t\t\tThe group\u2019s \ufb01nancial liabilities include accounts and other payables \u00a0
\n\t\t\t\t\tSubsequent measurement \u00a0
\n\t\t\t\t\tFor purposes of subsequent measurement, \ufb01nancial liabilities are classi\ufb01ed in two categories: \u00a0
\n\t\t\t\t\t\u2022 Financial liabilities at fair value through pro\ufb01t or loss \u00a0
\n\t\t\t\t\t\u2022 Financial liabilities at amortised cost (loans and borrowings) \u00a0
\n\t\t\t\t\tThe group only has \ufb01nancial liabilities measured at amortised cost \u00a0
",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXG6DK30",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact1624": {
"value": "5\ufffd2 FINANCIAL
INSTRUMENTS \u00a0
Financial liabilities \u00a0
\n\t\t\t\t\tInitial recognition and measurement \u00a0
\n\t\t\t\t\tFinancial liabilities are classi\ufb01ed, at initial recognition, as \ufb01nancial liabilities at fair value through pro\ufb01t or loss, loans and borrowings, \u00a0
\n\t\t\t\t\tpayables, or as derivatives designated as hedging instruments in an effective hedge, as appropriate. All \ufb01nancial liabilities are \u00a0
\n\t\t\t\t\trecognised initially at fair value and, in the case of loans and borrowings and payables, net of directly attributable transaction costs. \u00a0
\n\t\t\t\t\tThe group\u2019s \ufb01nancial liabilities include accounts and other payables \u00a0
\n\t\t\t\t\tSubsequent measurement \u00a0
\n\t\t\t\t\tFor purposes of subsequent measurement, \ufb01nancial liabilities are classi\ufb01ed in two categories: \u00a0
\n\t\t\t\t\t\u2022 Financial liabilities at fair value through pro\ufb01t or loss \u00a0
\n\t\t\t\t\t\u2022 Financial liabilities at amortised cost (loans and borrowings) \u00a0
\n\t\t\t\t\tThe group only has \ufb01nancial liabilities measured at amortised cost \u00a0
GROUP \u00a0
\n\t\t\t\t\t31\ufffd12\ufffd2022 \u00a0
\n\t\t\t\t\t31\ufffd12\ufffd2021 \u00a0
Financial assets \u00a0
\n\t\t\t\t\tFinancial assets \u00a0
\n\t\t\t\t\tat amortised \u00a0
\n\t\t\t\t\tOther \u00a0
\n\t\t\t\t\tat amortised \u00a0
\n\t\t\t\t\tOther \u00a0
\n\t\t\t\t\t(Amounts in NOK 1 000) \u00a0
\n\t\t\t\t\tNote \u00a0
\n\t\t\t\t\tcosts \u00a0
\n\t\t\t\t\tliabilities \u00a0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\tcosts \u00a0
\n\t\t\t\t\tliabilities \u00a0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\tASSETS \u00a0
\n\t\t\t\t\tCash and cash equivalents \u00a0
\n\t\t\t\t\t5\ufffd3 \u00a0
\n\t\t\t\t\t98 716 \u00a0
\n\t\t\t\t\t98 716 \u00a0
\n\t\t\t\t\t277 706 \u00a0
\n\t\t\t\t\t277 706 \u00a0
\n\t\t\t\t\tOther current receivables \u00a0
\n\t\t\t\t\tand prepayments \u00a0
\n\t\t\t\t\t3\ufffd3, 3\ufffd4 \u00a0
\n\t\t\t\t\t10 392 \u00a0
\n\t\t\t\t\t10 392 \u00a0
\n\t\t\t\t\t13 023 \u00a0
\n\t\t\t\t\t13 023 \u00a0
\n\t\t\t\t\tTotal \ufb01nancial assets \u00a0
\n\t\t\t\t\t109 108 \u00a0
\n\t\t\t\t\t109 108 \u00a0
\n\t\t\t\t\t290 729 \u00a0
\n\t\t\t\t\t290 729 \u00a0
LIABILITIES \u00a0
\n\t\t\t\t\tOther \ufb01nancial liabilities \u00a0
\n\t\t\t\t\tAccounts and other payables \u00a0
\n\t\t\t\t\t5\ufffd4 \u00a0
\n\t\t\t\t\t44 124 \u00a0
\n\t\t\t\t\t44 124 \u00a0
\n\t\t\t\t\t146 187 \u00a0
\n\t\t\t\t\t146 187 \u00a0
\n\t\t\t\t\tTotal liabilities \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t44 124 \u00a0
\n\t\t\t\t\t44 124 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t146 187 \u00a0
\n\t\t\t\t\t146 187 \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfOtherLiabilitiesExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXG6DK30",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact1629": {
"value": "5\ufffd2 FINANCIAL
INSTRUMENTS \u00a0
LIABILITIES \u00a0
\n\t\t\t\t\tOther \ufb01nancial liabilities \u00a0
\n\t\t\t\t\tAccounts and other payables \u00a0
\n\t\t\t\t\t5\ufffd4 \u00a0
\n\t\t\t\t\t44 124 \u00a0
\n\t\t\t\t\t44 124 \u00a0
\n\t\t\t\t\t146 187 \u00a0
\n\t\t\t\t\t146 187 \u00a0
\n\t\t\t\t\tTotal liabilities \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t44 124 \u00a0
\n\t\t\t\t\t44 124 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t146 187 \u00a0
\n\t\t\t\t\t146 187 \u00a0
The table below summarises the maturity pro\ufb01le of the group\u2019s \ufb01nancial liabilities based on contractual undiscounted payments: \u00a0
\n\t\t\t\t\tAs per 31 December 2022 \u00a0
\n\t\t\t\t\tGROUP \u00a0
\n\t\t\t\t\tOn Less
than \u00a0
\n\t\t\t\t\t3 to 12 \u00a0
\n\t\t\t\t\t(Amounts in NOK 1 000) \u00a0
\n\t\t\t\t\tdemand \u00a0
\n\t\t\t\t\t3 months \u00a0
\n\t\t\t\t\tmonths \u00a0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\tAccounts payable \u00a0
\n\t\t\t\t\t9 093 \u00a0
\n\t\t\t\t\t9 093 \u00a0
\n\t\t\t\t\tUnpaid duties and charges \u00a0
\n\t\t\t\t\t3 483 \u00a0
\n\t\t\t\t\t3 483 \u00a0
\n\t\t\t\t\tUnpaid vacation pay \u00a0
\n\t\t\t\t\t1 425 \u00a0
\n\t\t\t\t\t1 425 \u00a0
\n\t\t\t\t\tTax payable \u00a0
\n\t\t\t\t\t759 \u00a0
\n\t\t\t\t\t759 \u00a0
\n\t\t\t\t\tAccrued social security expenses related to outstanding \u00a0
\n\t\t\t\t\tnon exercised options, PSUs and RSUs1) \u00a0
\n\t\t\t\t\t9
\n\t\t\t\t\t9
\n\t\t\t\t\tLease liabilities \u00a0
\n\t\t\t\t\t27 \u00a0
\n\t\t\t\t\t132 \u00a0
\n\t\t\t\t\t159 \u00a0
\n\t\t\t\t\tOther accrued costs \u00a0
\n\t\t\t\t\t18 117 \u00a0
\n\t\t\t\t\t11 238 \u00a0
\n\t\t\t\t\t29 355 \u00a0
\n\t\t\t\t\tTotal current liabilities 31.12.22 \u00a0
\n\t\t\t\t\t9
\n\t\t\t\t\t30 720 \u00a0
\n\t\t\t\t\t13 554 \u00a0
\n\t\t\t\t\t44 283 \u00a0
As per 31 December 2021 \u00a0
\n\t\t\t\t\tGROUP \u00a0
\n\t\t\t\t\tOn Less
than \u00a0
\n\t\t\t\t\t3 to 12 \u00a0
\n\t\t\t\t\t(Amounts in NOK 1 000) \u00a0
\n\t\t\t\t\tdemand \u00a0
\n\t\t\t\t\t3 months \u00a0
\n\t\t\t\t\tmonths \u00a0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\tAccounts payable \u00a0
\n\t\t\t\t\t65 960 \u00a0
\n\t\t\t\t\t65 960 \u00a0
\n\t\t\t\t\tUnpaid duties and charges \u00a0
\n\t\t\t\t\t2 844 \u00a0
\n\t\t\t\t\t2 844 \u00a0
\n\t\t\t\t\tUnpaid vacation pay \u00a0
\n\t\t\t\t\t2 919 \u00a0
\n\t\t\t\t\t2 919 \u00a0
\n\t\t\t\t\tTax payable \u00a0
\n\t\t\t\t\t1 068 \u00a0
\n\t\t\t\t\t1 068 \u00a0
\n\t\t\t\t\tAccrued social security related to outstanding non exercised options, \u00a0
\n\t\t\t\t\tPSUs and RSUs *) \u00a0
\n\t\t\t\t\t1 649 \u00a0
\n\t\t\t\t\t1 649 \u00a0
\n\t\t\t\t\tLease liabilities \u00a0
\n\t\t\t\t\t2 931 \u00a0
\n\t\t\t\t\t2 577 \u00a0
\n\t\t\t\t\t5 508 \u00a0
\n\t\t\t\t\tOther accrued costs \u00a0
\n\t\t\t\t\t67 260 \u00a0
\n\t\t\t\t\t4 487 \u00a0
\n\t\t\t\t\t71 747 \u00a0
\n\t\t\t\t\tTotal current liabilities 31.12.21 \u00a0
\n\t\t\t\t\t1 649 \u00a0
\n\t\t\t\t\t138 995 \u00a0
\n\t\t\t\t\t11 051 \u00a0
\n\t\t\t\t\t151 695 \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfTradeAndOtherPayablesExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXG6DK30",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact1633": {
"value": "Accounting policy \u00a0
\n\t\t\t\t\tFinancial assets \u00a0
\n\t\t\t\t\tInitial recognition and measurement \u00a0
\n\t\t\t\t\tFinancial assets are classi\ufb01ed, at initial recognition, as subsequently measured at amortised cost, fair value through other \u00a0
\n\t\t\t\t\tcomprehensive income (OCI), and fair value through pro\ufb01t or loss. Financial assets are recognised initially at fair value plus, in the \u00a0
\n\t\t\t\t\tcase of \ufb01nancial assets not recorded at fair value through pro\ufb01t or loss, transaction costs that are attributable to the acquisition of \u00a0
\n\t\t\t\t\tthe \ufb01nancial asset. \u00a0
\n\t\t\t\t\tFinancial assets at amortised cost \u00a0
\n\t\t\t\t\tThis category is the most relevant to the group. The group measures \ufb01nancial assets at amortised cost if both of the following \u00a0
\n\t\t\t\t\tconditions are met: The \ufb01nancial asset is held within a business model with the objective to hold \ufb01nancial assets in order to collect \u00a0
\n\t\t\t\t\tcontractual cash \ufb02ows and The contractual terms of the \ufb01nancial asset give rise on speci\ufb01ed dates to cash \ufb02ows that are solely \u00a0
\n\t\t\t\t\tpayments of principal and interest on the principal amount outstanding\ufffd \u00a0
\n\t\t\t\t\tFinancial assets at amortised cost are subsequently measured using the effective interest (EIR) method and are subject to \u00a0
\n\t\t\t\t\timpairment. Gains and losses are recognised in pro\ufb01t or loss when the asset is derecognised, modi\ufb01ed or impaired. \u00a0
Financial assets at fair value through pro\ufb01t or loss \u00a0
\n\t\t\t\t\tFinancial assets at fair value through pro\ufb01t or loss are carried in the statement of \ufb01nancial position at fair value with net changes \u00a0
\n\t\t\t\t\tin fair value recognised in the statement of pro\ufb01t or loss. The group does not have any \ufb01nancial assets at fair value through pro\ufb01t \u00a0
\n\t\t\t\t\tor loss\ufffd \u00a0
Impairment of \ufb01nancial assets \u00a0
\n\t\t\t\t\tThe group assesses, at each reporting date, whether there is objective evidence that a \ufb01nancial asset or a group of \ufb01nancial assets \u00a0
\n\t\t\t\t\tis impaired\ufffd An impairment exists if one or more events that has occurred since the initial recognition of the asset (an incurred \u00a0
\n\t\t\t\t\t\u2018loss event\u2019), has an impact on the estimated future cash \ufb02ows of the \ufb01nancial asset or the group of \ufb01nancial assets that can be \u00a0
\n\t\t\t\t\treliably estimated\ufffd \u00a0
\n\t\t\t\t\tThe amount of any impairment loss identi\ufb01ed is measured as the difference between the asset\u2019s carrying amount and the present \u00a0
\n\t\t\t\t\tvalue of estimated future cash \ufb02ows (excluding future expected credit losses that have not yet been incurred). \u00a0
",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialAssetsExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXG6DK30",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact1636": {
"value": "Financial assets at fair value through pro\ufb01t or loss \u00a0
\n\t\t\t\t\tFinancial assets at fair value through pro\ufb01t or loss are carried in the statement of \ufb01nancial position at fair value with net changes \u00a0
\n\t\t\t\t\tin fair value recognised in the statement of pro\ufb01t or loss. The group does not have any \ufb01nancial assets at fair value through pro\ufb01t \u00a0
\n\t\t\t\t\tor loss\ufffd \u00a0
",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialInstrumentsAtFairValueThroughProfitOrLossExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXG6DK30",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact1637": {
"value": "Financial assets at fair value through pro\ufb01t or loss \u00a0
\n\t\t\t\t\tFinancial assets at fair value through pro\ufb01t or loss are carried in the statement of \ufb01nancial position at fair value with net changes \u00a0
\n\t\t\t\t\tin fair value recognised in the statement of pro\ufb01t or loss. The group does not have any \ufb01nancial assets at fair value through pro\ufb01t \u00a0
\n\t\t\t\t\tor loss\ufffd \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfFinancialInstrumentsAtFairValueThroughProfitOrLossExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXG6DK30",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact1638": {
"value": "Impairment of \ufb01nancial assets \u00a0
\n\t\t\t\t\tThe group assesses, at each reporting date, whether there is objective evidence that a \ufb01nancial asset or a group of \ufb01nancial assets \u00a0
\n\t\t\t\t\tis impaired\ufffd An impairment exists if one or more events that has occurred since the initial recognition of the asset (an incurred \u00a0
\n\t\t\t\t\t\u2018loss event\u2019), has an impact on the estimated future cash \ufb02ows of the \ufb01nancial asset or the group of \ufb01nancial assets that can be \u00a0
\n\t\t\t\t\treliably estimated\ufffd \u00a0
\n\t\t\t\t\tThe amount of any impairment loss identi\ufb01ed is measured as the difference between the asset\u2019s carrying amount and the present \u00a0
\n\t\t\t\t\tvalue of estimated future cash \ufb02ows (excluding future expected credit losses that have not yet been incurred). \u00a0
",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForImpairmentOfFinancialAssetsExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXG6DK30",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact1639": {
"value": "Financial liabilities \u00a0
\n\t\t\t\t\tInitial recognition and measurement \u00a0
\n\t\t\t\t\tFinancial liabilities are classi\ufb01ed, at initial recognition, as \ufb01nancial liabilities at fair value through pro\ufb01t or loss, loans and borrowings, \u00a0
\n\t\t\t\t\tpayables, or as derivatives designated as hedging instruments in an effective hedge, as appropriate. All \ufb01nancial liabilities are \u00a0
\n\t\t\t\t\trecognised initially at fair value and, in the case of loans and borrowings and payables, net of directly attributable transaction costs. \u00a0
\n\t\t\t\t\tThe group\u2019s \ufb01nancial liabilities include accounts and other payables \u00a0
\n\t\t\t\t\tSubsequent measurement \u00a0
\n\t\t\t\t\tFor purposes of subsequent measurement, \ufb01nancial liabilities are classi\ufb01ed in two categories: \u00a0
\n\t\t\t\t\t\u2022 Financial liabilities at fair value through pro\ufb01t or loss \u00a0
\n\t\t\t\t\t\u2022 Financial liabilities at amortised cost (loans and borrowings) \u00a0
\n\t\t\t\t\tThe group only has \ufb01nancial liabilities measured at amortised cost \u00a0
Accounting policy \u00a0
\n\t\t\t\t\tThe group\u2019s \ufb01nancial liabilities consist of accounts payable and other current liabilities and are classi\ufb01ed as \u201ccurrent liabilities\u201d. \u00a0
\n\t\t\t\t\tAccounts payable are obligations to pay for goods or services that have been acquired in the ordinary course of business from \u00a0
\n\t\t\t\t\tsuppliers . Accounts payable are classi\ufb01ed as current liabilities if payment is due within one year or less (or in the normal operating \u00a0
\n\t\t\t\t\tcycle of the business if longer). If not, they are presented as non-current liabilities. Accounts payable and other \ufb01nancial liabilities \u00a0
\n\t\t\t\t\tare recognised initially at fair value and subsequently measured at amortised cost using the effective interest method\ufffd \u00a0
",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialLiabilitiesExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXG6DK30",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact1641": {
"value": "GROUP \u00a0
\n\t\t\t\t\t31\ufffd12\ufffd2022 \u00a0
\n\t\t\t\t\t31\ufffd12\ufffd2021 \u00a0
Financial assets \u00a0
\n\t\t\t\t\tFinancial assets \u00a0
\n\t\t\t\t\tat amortised \u00a0
\n\t\t\t\t\tOther \u00a0
\n\t\t\t\t\tat amortised \u00a0
\n\t\t\t\t\tOther \u00a0
\n\t\t\t\t\t(Amounts in NOK 1 000) \u00a0
\n\t\t\t\t\tNote \u00a0
\n\t\t\t\t\tcosts \u00a0
\n\t\t\t\t\tliabilities \u00a0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\tcosts \u00a0
\n\t\t\t\t\tliabilities \u00a0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\tASSETS \u00a0
\n\t\t\t\t\tCash and cash equivalents \u00a0
\n\t\t\t\t\t5\ufffd3 \u00a0
\n\t\t\t\t\t98 716 \u00a0
\n\t\t\t\t\t98 716 \u00a0
\n\t\t\t\t\t277 706 \u00a0
\n\t\t\t\t\t277 706 \u00a0
\n\t\t\t\t\tOther current receivables \u00a0
\n\t\t\t\t\tand prepayments \u00a0
\n\t\t\t\t\t3\ufffd3, 3\ufffd4 \u00a0
\n\t\t\t\t\t10 392 \u00a0
\n\t\t\t\t\t10 392 \u00a0
\n\t\t\t\t\t13 023 \u00a0
\n\t\t\t\t\t13 023 \u00a0
\n\t\t\t\t\tTotal \ufb01nancial assets \u00a0
\n\t\t\t\t\t109 108 \u00a0
\n\t\t\t\t\t109 108 \u00a0
\n\t\t\t\t\t290 729 \u00a0
\n\t\t\t\t\t290 729 \u00a0
5.3 CASH
AND CASH EQUIVALENTS \u00a0
Accounting policy \u00a0
\n\t\t\t\t\tCash equivalents are held for the purpose of meeting short-term cash commitments rather than for investment or other purposes\ufffd \u00a0
\n\t\t\t\t\tFor an investment to qualify as a cash equivalent it must be readily convertible to a known amount of cash and be subject to an \u00a0
\n\t\t\t\t\tinsigni\ufb01cant risk of changes in value. Therefore, an investment normally quali\ufb01es as a cash equivalent only when it has a short \u00a0
\n\t\t\t\t\tmaturity of, say, three months or less from the date of acquisition\ufffd \u00a0
PARENT \u00a0
\n\t\t\t\t\tGROUP \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t(Amounts in NOK 1 000) \u00a0
\n\t\t\t\t\t997 \u00a0
\n\t\t\t\t\t2 164 \u00a0
\n\t\t\t\t\tEmployee withholding tax \u00a0
\n\t\t\t\t\t2 164 \u00a0
\n\t\t\t\t\t997 \u00a0
\n\t\t\t\t\t261 933 \u00a0
\n\t\t\t\t\t82 777 \u00a0
\n\t\t\t\t\tVariable interest rate bank accounts \u00a0
\n\t\t\t\t\t96 552 \u00a0
\n\t\t\t\t\t276 709 \u00a0
\n\t\t\t\t\t262 930 \u00a0
\n\t\t\t\t\t84 941
Total cash and cash equivalents 31.12 \u00a0
\n\t\t\t\t\t98 716 \u00a0
\n\t\t\t\t\t277 706 \u00a0
\n\t\t\t\t\tOf the total balance of cash and cash equivalents, NOK 2\ufffd2 million (2021: NOK 1\ufffd0 million) relates to restricted funds for employee \u00a0
\n\t\t\t\t\twithholding taxes. The remainder of the group\u2019s cash is deposited in various banks on variable interests rate terms. In the group \u00a0
\n\t\t\t\t\tNOK 20.7 million (2021: NOK 125.5 million) are placed in bank accounts with a different currency than NOK as of 31 December \u00a0
\n\t\t\t\t\t2022\ufffd Of this total, NOK 6\ufffd9 million (2021: NOK 111\ufffd7) are placements in the parent\ufffd \u00a0
\n\t\t\t\t\tIn the group, bank deposits related to of\ufb01ce lease of NOK 1.6 million is classi\ufb01ed as other current receivables (2021: NOK 1.6 million), \u00a0
\n\t\t\t\t\thereof NOK 1\ufffd5 million is related to the parent in 2022 and NOK 1\ufffd5 million in 2021\ufffd \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfCashAndCashEquivalentsExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXG6DK30",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact1646": {
"value": "Accounting policy \u00a0
\n\t\t\t\t\tCash equivalents are held for the purpose of meeting short-term cash commitments rather than for investment or other purposes\ufffd \u00a0
\n\t\t\t\t\tFor an investment to qualify as a cash equivalent it must be readily convertible to a known amount of cash and be subject to an \u00a0
\n\t\t\t\t\tinsigni\ufb01cant risk of changes in value. Therefore, an investment normally quali\ufb01es as a cash equivalent only when it has a short \u00a0
\n\t\t\t\t\tmaturity of, say, three months or less from the date of acquisition\ufffd \u00a0
",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyToDetermineComponentsOfCashAndCashEquivalents",
"language": "en",
"entity": "scheme:5967007LIEEXZXG6DK30",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact1647": {
"value": "5\ufffd4 CURRENT
LIABILITIES \u00a0
The table below summarises the maturity pro\ufb01le of the group\u2019s \ufb01nancial liabilities based on contractual undiscounted payments: \u00a0
\n\t\t\t\t\tAs per 31 December 2022 \u00a0
\n\t\t\t\t\tGROUP \u00a0
\n\t\t\t\t\tOn Less
than \u00a0
\n\t\t\t\t\t3 to 12 \u00a0
\n\t\t\t\t\t(Amounts in NOK 1 000) \u00a0
\n\t\t\t\t\tdemand \u00a0
\n\t\t\t\t\t3 months \u00a0
\n\t\t\t\t\tmonths \u00a0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\tAccounts payable \u00a0
\n\t\t\t\t\t9 093 \u00a0
\n\t\t\t\t\t9 093 \u00a0
\n\t\t\t\t\tUnpaid duties and charges \u00a0
\n\t\t\t\t\t3 483 \u00a0
\n\t\t\t\t\t3 483 \u00a0
\n\t\t\t\t\tUnpaid vacation pay \u00a0
\n\t\t\t\t\t1 425 \u00a0
\n\t\t\t\t\t1 425 \u00a0
\n\t\t\t\t\tTax payable \u00a0
\n\t\t\t\t\t759 \u00a0
\n\t\t\t\t\t759 \u00a0
\n\t\t\t\t\tAccrued social security expenses related to outstanding \u00a0
\n\t\t\t\t\tnon exercised options, PSUs and RSUs1) \u00a0
\n\t\t\t\t\t9
\n\t\t\t\t\t9
\n\t\t\t\t\tLease liabilities \u00a0
\n\t\t\t\t\t27 \u00a0
\n\t\t\t\t\t132 \u00a0
\n\t\t\t\t\t159 \u00a0
\n\t\t\t\t\tOther accrued costs \u00a0
\n\t\t\t\t\t18 117 \u00a0
\n\t\t\t\t\t11 238 \u00a0
\n\t\t\t\t\t29 355 \u00a0
\n\t\t\t\t\tTotal current liabilities 31.12.22 \u00a0
\n\t\t\t\t\t9
\n\t\t\t\t\t30 720 \u00a0
\n\t\t\t\t\t13 554 \u00a0
\n\t\t\t\t\t44 283 \u00a0
As per 31 December 2021 \u00a0
\n\t\t\t\t\tGROUP \u00a0
\n\t\t\t\t\tOn Less
than \u00a0
\n\t\t\t\t\t3 to 12 \u00a0
\n\t\t\t\t\t(Amounts in NOK 1 000) \u00a0
\n\t\t\t\t\tdemand \u00a0
\n\t\t\t\t\t3 months \u00a0
\n\t\t\t\t\tmonths \u00a0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\tAccounts payable \u00a0
\n\t\t\t\t\t65 960 \u00a0
\n\t\t\t\t\t65 960 \u00a0
\n\t\t\t\t\tUnpaid duties and charges \u00a0
\n\t\t\t\t\t2 844 \u00a0
\n\t\t\t\t\t2 844 \u00a0
\n\t\t\t\t\tUnpaid vacation pay \u00a0
\n\t\t\t\t\t2 919 \u00a0
\n\t\t\t\t\t2 919 \u00a0
\n\t\t\t\t\tTax payable \u00a0
\n\t\t\t\t\t1 068 \u00a0
\n\t\t\t\t\t1 068 \u00a0
\n\t\t\t\t\tAccrued social security related to outstanding non exercised options, \u00a0
\n\t\t\t\t\tPSUs and RSUs *) \u00a0
\n\t\t\t\t\t1 649 \u00a0
\n\t\t\t\t\t1 649 \u00a0
\n\t\t\t\t\tLease liabilities \u00a0
\n\t\t\t\t\t2 931 \u00a0
\n\t\t\t\t\t2 577 \u00a0
\n\t\t\t\t\t5 508 \u00a0
\n\t\t\t\t\tOther accrued costs \u00a0
\n\t\t\t\t\t67 260 \u00a0
\n\t\t\t\t\t4 487 \u00a0
\n\t\t\t\t\t71 747 \u00a0
\n\t\t\t\t\tTotal current liabilities 31.12.21 \u00a0
\n\t\t\t\t\t1 649 \u00a0
\n\t\t\t\t\t138 995 \u00a0
\n\t\t\t\t\t11 051 \u00a0
\n\t\t\t\t\t151 695 \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfTaxReceivablesAndPayablesExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXG6DK30",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact1650": {
"value": "Accounting policy \u00a0
\n\t\t\t\t\tThe group\u2019s \ufb01nancial liabilities consist of accounts payable and other current liabilities and are classi\ufb01ed as \u201ccurrent liabilities\u201d. \u00a0
\n\t\t\t\t\tAccounts payable are obligations to pay for goods or services that have been acquired in the ordinary course of business from \u00a0
\n\t\t\t\t\tsuppliers . Accounts payable are classi\ufb01ed as current liabilities if payment is due within one year or less (or in the normal operating \u00a0
\n\t\t\t\t\tcycle of the business if longer). If not, they are presented as non-current liabilities. Accounts payable and other \ufb01nancial liabilities \u00a0
\n\t\t\t\t\tare recognised initially at fair value and subsequently measured at amortised cost using the effective interest method\ufffd \u00a0
",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForTradeAndOtherPayablesExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXG6DK30",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact1651": {
"value": "5.5 SHARE
CAPITAL AND SHAREHOLDER INFORMATION \u00a0
As at 31 December 2022 the company\u2019s share capital is NOK 23 207 060 (31 December 2021: NOK 19 615 676), being divided into \u00a0
\n\t\t\t\t\t98 078 380 ordinary shares, each with a nominal value of NOK 0.20. All shares carry equal voting rights. \u00a0
\n\t\t\t\t\tPARENT \u00a0
\n\t\t\t\t\tNote \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tOrdinary shares at 01\ufffd01 \u00a0
\n\t\t\t\t\t98 078 380 \u00a0
\n\t\t\t\t\t79 390 612 \u00a0
\n\t\t\t\t\tIssue of ordinary shares1) \u00a0
\n\t\t\t\t\t17 914 243 \u00a0
\n\t\t\t\t\t18 577 402 \u00a0
\n\t\t\t\t\tIssue of ordinary shares under share options 2) \u00a0
\n\t\t\t\t\t42 675 \u00a0
\n\t\t\t\t\t58 400 \u00a0
\n\t\t\t\t\tIssue of ordinary shares under RSU \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t51 966 \u00a0
\n\t\t\t\t\tOrdinary shares at 31\ufffd12 \u00a0
\n\t\t\t\t\t116 035 298 \u00a0
\n\t\t\t\t\t98 078 380 \u00a0
\n\t\t\t\t\t1) In January 2022 the company raised approximately NOK 250 million in gross proceeds through a private placement of 17 857 143 new shares. The \u00a0
\n\t\t\t\t\tprivate placement was completed at a subscription price of NOK 14.00 per share. In March 2022 the company raised NOK 1 million in gross proceeds \u00a0
\n\t\t\t\t\tthrough a repair offering, which increased the company\u2019s share capital by NOK 11 420 through the issuance of 57 100 new shares. \u00a0
\n\t\t\t\t\t2) The share capital increase pertaining to settled PSUs was registered in the Norwegian Register of Business Enterprises on 25 March 2022. \u00a0
\n\t\t\t\t\tThe 2022 AGM granted an authorisation to the board to increase
the share capital by 20 per cent of the company\u2019s share capital \u00a0
\n\t\t\t\t\tat the time the authorisation is used\ufffd The authorisation has not been utilised\ufffd The 2022 AGM also granted an authorisation to the \u00a0
\n\t\t\t\t\tboard to increase the share capital with up to NOK 50 000 through the issuance of new shares at par value. The authorisation may \u00a0
\n\t\t\t\t\tonly be used to issue shares to members of the board as part of the RSU programme\ufffd The 2022 AGM also resolved to issue up to \u00a0
\n\t\t\t\t\t1 500 000 free-standing warrants to employees that were awarded PSUs. \u00a0
\n\t\t\t\t\tThe general meetings have since December 2017 resolved to issue free-standing warrants to employees awarded performance \u00a0
\n\t\t\t\t\tshare units (PSUs), and employees awarded options under the discontinued option programme. Each free-standing warrant shall, \u00a0
\n\t\t\t\t\tsubject to speci\ufb01c terms, give the right to subscribe for one new share in the company with nominal value NOK 0.20. The sole \u00a0
\n\t\t\t\t\tpurpose of these free-standing warrants is to ensure delivery of shares in the company upon exercise of PSUs or options. As per \u00a0
\n\t\t\t\t\t31 December 2022, 298 000 warrants related to options are exercisable under speci\ufb01c terms and can be converted into shares. \u00a0
\n\t\t\t\t\tSee note 6\ufffd3 for further information about the share based incentive programme\ufffd \u00a0
Nordic Nanovector ASA had 11 168 shareholders as at 31 December 2022 \u00a0
\n\t\t\t\t\tPercentage of \u00a0
\n\t\t\t\t\tShareholders \u00a0
\n\t\t\t\t\tNumber of shares \u00a0
\n\t\t\t\t\ttotal shares \u00a0
\n\t\t\t\t\t1
\n\t\t\t\t\tNorth Energy ASA \u00a0
\n\t\t\t\t\t18 347 870 \u00a0
\n\t\t\t\t\t15\ufffd81% \u00a0
\n\t\t\t\t\t2
\n\t\t\t\t\tOM Holding AS \u00a0
\n\t\t\t\t\t3 779 477 \u00a0
\n\t\t\t\t\t3\ufffd26% \u00a0
\n\t\t\t\t\t3
\n\t\t\t\t\tJon Magne Asmyr \u00a0
\n\t\t\t\t\t3 000 000 \u00a0
\n\t\t\t\t\t2\ufffd59% \u00a0
\n\t\t\t\t\t4
\n\t\t\t\t\tVegard Aavik Tors\u00e6ter \u00a0
\n\t\t\t\t\t2 031 260 \u00a0
\n\t\t\t\t\t1\ufffd75% \u00a0
\n\t\t\t\t\t5
\n\t\t\t\t\tB\u00e6kkelaget Holding AS \u00a0
\n\t\t\t\t\t1 261 118 \u00a0
\n\t\t\t\t\t1\ufffd09% \u00a0
\n\t\t\t\t\t6
\n\t\t\t\t\tNordnet Livsforsikring AS \u00a0
\n\t\t\t\t\t1 231 976 \u00a0
\n\t\t\t\t\t1\ufffd06% \u00a0
\n\t\t\t\t\t7
\n\t\t\t\t\tDanske Bank A/S \u00a0
\n\t\t\t\t\t1 075 045 \u00a0
\n\t\t\t\t\t0\ufffd93% \u00a0
\n\t\t\t\t\t8
\n\t\t\t\t\tNordnet Bank AB \u00a0
\n\t\t\t\t\t1 033 946 \u00a0
\n\t\t\t\t\t0\ufffd89% \u00a0
\n\t\t\t\t\t9
\n\t\t\t\t\tRo Invest AS \u00a0
\n\t\t\t\t\t1 010 000 \u00a0
\n\t\t\t\t\t0\ufffd87% \u00a0
\n\t\t\t\t\t10 Skandinaviske
Enskilda Banken AB \u00a0
\n\t\t\t\t\t948 088 \u00a0
\n\t\t\t\t\t0\ufffd82% \u00a0
\n\t\t\t\t\t11 Sky
High Risk AS \u00a0
\n\t\t\t\t\t889 200 \u00a0
\n\t\t\t\t\t0\ufffd77% \u00a0
\n\t\t\t\t\t12 Linux
Solution Norge AS \u00a0
\n\t\t\t\t\t845 071 \u00a0
\n\t\t\t\t\t0\ufffd73% \u00a0
\n\t\t\t\t\t13 Arne
Hellest\u00f8 AS \u00a0
\n\t\t\t\t\t800 955 \u00a0
\n\t\t\t\t\t0\ufffd69% \u00a0
\n\t\t\t\t\t14 Arne
Hellest\u00f8 \u00a0
\n\t\t\t\t\t795 000 \u00a0
\n\t\t\t\t\t0\ufffd69% \u00a0
\n\t\t\t\t\t15 Eivind
Opedal \u00a0
\n\t\t\t\t\t700 500 \u00a0
\n\t\t\t\t\t0\ufffd60% \u00a0
\n\t\t\t\t\t16 Must
Invest AS \u00a0
\n\t\t\t\t\t700 000 \u00a0
\n\t\t\t\t\t0\ufffd60% \u00a0
\n\t\t\t\t\t17 Lucellum
AS \u00a0
\n\t\t\t\t\t650 000 \u00a0
\n\t\t\t\t\t0\ufffd56% \u00a0
\n\t\t\t\t\t18 Sciencons
AS \u00a0
\n\t\t\t\t\t625 000 \u00a0
\n\t\t\t\t\t0\ufffd54% \u00a0
\n\t\t\t\t\t19 Audun
Bakke \u00a0
\n\t\t\t\t\t609 000 \u00a0
\n\t\t\t\t\t0\ufffd52% \u00a0
\n\t\t\t\t\t20 Inven2
AS \u00a0
\n\t\t\t\t\t541 247 \u00a0
\n\t\t\t\t\t0\ufffd47% \u00a0
\n\t\t\t\t\tTotal shares for top 20 shareholders \u00a0
\n\t\t\t\t\t40 874 753 \u00a0
\n\t\t\t\t\t35\ufffd23% \u00a0
\n\t\t\t\t\tTotal shares for other 11 148 shareholders \u00a0
\n\t\t\t\t\t75 160 545 \u00a0
\n\t\t\t\t\t64\ufffd77% \u00a0
\n\t\t\t\t\tTotal shares (11 168 shareholders) \u00a0
\n\t\t\t\t\t116 035 298 \u00a0
\n\t\t\t\t\t100\ufffd00% \u00a0
\n\t\t\t\t\tThe shares of Nordic Nanovector ASA have been traded on the Oslo Stock Exchange since 23 March 2015\ufffd The shareholder base \u00a0
\n\t\t\t\t\thas decreased from 11 290 shareholders as of 31 December 2021 to 11 168 shareholders as of 31 December 2022\ufffd \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfShareCapitalReservesAndOtherEquityInterestExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXG6DK30",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact1654": {
"value": "5.5 SHARE
CAPITAL AND SHAREHOLDER INFORMATION \u00a0
As at 31 December 2022 the company\u2019s share capital is NOK 23 207 060 (31 December 2021: NOK 19 615 676), being divided into \u00a0
\n\t\t\t\t\t98 078 380 ordinary shares, each with a nominal value of NOK 0.20. All shares carry equal voting rights. \u00a0
\n\t\t\t\t\tPARENT \u00a0
\n\t\t\t\t\tNote \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tOrdinary shares at 01\ufffd01 \u00a0
\n\t\t\t\t\t98 078 380 \u00a0
\n\t\t\t\t\t79 390 612 \u00a0
\n\t\t\t\t\tIssue of ordinary shares1) \u00a0
\n\t\t\t\t\t17 914 243 \u00a0
\n\t\t\t\t\t18 577 402 \u00a0
\n\t\t\t\t\tIssue of ordinary shares under share options 2) \u00a0
\n\t\t\t\t\t42 675 \u00a0
\n\t\t\t\t\t58 400 \u00a0
\n\t\t\t\t\tIssue of ordinary shares under RSU \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t51 966 \u00a0
\n\t\t\t\t\tOrdinary shares at 31\ufffd12 \u00a0
\n\t\t\t\t\t116 035 298 \u00a0
\n\t\t\t\t\t98 078 380 \u00a0
\n\t\t\t\t\t1) In January 2022 the company raised approximately NOK 250 million in gross proceeds through a private placement of 17 857 143 new shares. The \u00a0
\n\t\t\t\t\tprivate placement was completed at a subscription price of NOK 14.00 per share. In March 2022 the company raised NOK 1 million in gross proceeds \u00a0
\n\t\t\t\t\tthrough a repair offering, which increased the company\u2019s share capital by NOK 11 420 through the issuance of 57 100 new shares. \u00a0
\n\t\t\t\t\t2) The share capital increase pertaining to settled PSUs was registered in the Norwegian Register of Business Enterprises on 25 March 2022. \u00a0
\n\t\t\t\t\tThe 2022 AGM granted an authorisation to the board to increase
the share capital by 20 per cent of the company\u2019s share capital \u00a0
\n\t\t\t\t\tat the time the authorisation is used\ufffd The authorisation has not been utilised\ufffd The 2022 AGM also granted an authorisation to the \u00a0
\n\t\t\t\t\tboard to increase the share capital with up to NOK 50 000 through the issuance of new shares at par value. The authorisation may \u00a0
\n\t\t\t\t\tonly be used to issue shares to members of the board as part of the RSU programme\ufffd The 2022 AGM also resolved to issue up to \u00a0
\n\t\t\t\t\t1 500 000 free-standing warrants to employees that were awarded PSUs. \u00a0
\n\t\t\t\t\tThe general meetings have since December 2017 resolved to issue free-standing warrants to employees awarded performance \u00a0
\n\t\t\t\t\tshare units (PSUs), and employees awarded options under the discontinued option programme. Each free-standing warrant shall, \u00a0
\n\t\t\t\t\tsubject to speci\ufb01c terms, give the right to subscribe for one new share in the company with nominal value NOK 0.20. The sole \u00a0
\n\t\t\t\t\tpurpose of these free-standing warrants is to ensure delivery of shares in the company upon exercise of PSUs or options. As per \u00a0
\n\t\t\t\t\t31 December 2022, 298 000 warrants related to options are exercisable under speci\ufb01c terms and can be converted into shares. \u00a0
\n\t\t\t\t\tSee note 6\ufffd3 for further information about the share based incentive programme\ufffd \u00a0
Nordic Nanovector ASA had 11 168 shareholders as at 31 December 2022 \u00a0
\n\t\t\t\t\tPercentage of \u00a0
\n\t\t\t\t\tShareholders \u00a0
\n\t\t\t\t\tNumber of shares \u00a0
\n\t\t\t\t\ttotal shares \u00a0
\n\t\t\t\t\t1
\n\t\t\t\t\tNorth Energy ASA \u00a0
\n\t\t\t\t\t18 347 870 \u00a0
\n\t\t\t\t\t15\ufffd81% \u00a0
\n\t\t\t\t\t2
\n\t\t\t\t\tOM Holding AS \u00a0
\n\t\t\t\t\t3 779 477 \u00a0
\n\t\t\t\t\t3\ufffd26% \u00a0
\n\t\t\t\t\t3
\n\t\t\t\t\tJon Magne Asmyr \u00a0
\n\t\t\t\t\t3 000 000 \u00a0
\n\t\t\t\t\t2\ufffd59% \u00a0
\n\t\t\t\t\t4
\n\t\t\t\t\tVegard Aavik Tors\u00e6ter \u00a0
\n\t\t\t\t\t2 031 260 \u00a0
\n\t\t\t\t\t1\ufffd75% \u00a0
\n\t\t\t\t\t5
\n\t\t\t\t\tB\u00e6kkelaget Holding AS \u00a0
\n\t\t\t\t\t1 261 118 \u00a0
\n\t\t\t\t\t1\ufffd09% \u00a0
\n\t\t\t\t\t6
\n\t\t\t\t\tNordnet Livsforsikring AS \u00a0
\n\t\t\t\t\t1 231 976 \u00a0
\n\t\t\t\t\t1\ufffd06% \u00a0
\n\t\t\t\t\t7
\n\t\t\t\t\tDanske Bank A/S \u00a0
\n\t\t\t\t\t1 075 045 \u00a0
\n\t\t\t\t\t0\ufffd93% \u00a0
\n\t\t\t\t\t8
\n\t\t\t\t\tNordnet Bank AB \u00a0
\n\t\t\t\t\t1 033 946 \u00a0
\n\t\t\t\t\t0\ufffd89% \u00a0
\n\t\t\t\t\t9
\n\t\t\t\t\tRo Invest AS \u00a0
\n\t\t\t\t\t1 010 000 \u00a0
\n\t\t\t\t\t0\ufffd87% \u00a0
\n\t\t\t\t\t10 Skandinaviske
Enskilda Banken AB \u00a0
\n\t\t\t\t\t948 088 \u00a0
\n\t\t\t\t\t0\ufffd82% \u00a0
\n\t\t\t\t\t11 Sky
High Risk AS \u00a0
\n\t\t\t\t\t889 200 \u00a0
\n\t\t\t\t\t0\ufffd77% \u00a0
\n\t\t\t\t\t12 Linux
Solution Norge AS \u00a0
\n\t\t\t\t\t845 071 \u00a0
\n\t\t\t\t\t0\ufffd73% \u00a0
\n\t\t\t\t\t13 Arne
Hellest\u00f8 AS \u00a0
\n\t\t\t\t\t800 955 \u00a0
\n\t\t\t\t\t0\ufffd69% \u00a0
\n\t\t\t\t\t14 Arne
Hellest\u00f8 \u00a0
\n\t\t\t\t\t795 000 \u00a0
\n\t\t\t\t\t0\ufffd69% \u00a0
\n\t\t\t\t\t15 Eivind
Opedal \u00a0
\n\t\t\t\t\t700 500 \u00a0
\n\t\t\t\t\t0\ufffd60% \u00a0
\n\t\t\t\t\t16 Must
Invest AS \u00a0
\n\t\t\t\t\t700 000 \u00a0
\n\t\t\t\t\t0\ufffd60% \u00a0
\n\t\t\t\t\t17 Lucellum
AS \u00a0
\n\t\t\t\t\t650 000 \u00a0
\n\t\t\t\t\t0\ufffd56% \u00a0
\n\t\t\t\t\t18 Sciencons
AS \u00a0
\n\t\t\t\t\t625 000 \u00a0
\n\t\t\t\t\t0\ufffd54% \u00a0
\n\t\t\t\t\t19 Audun
Bakke \u00a0
\n\t\t\t\t\t609 000 \u00a0
\n\t\t\t\t\t0\ufffd52% \u00a0
\n\t\t\t\t\t20 Inven2
AS \u00a0
\n\t\t\t\t\t541 247 \u00a0
\n\t\t\t\t\t0\ufffd47% \u00a0
\n\t\t\t\t\tTotal shares for top 20 shareholders \u00a0
\n\t\t\t\t\t40 874 753 \u00a0
\n\t\t\t\t\t35\ufffd23% \u00a0
\n\t\t\t\t\tTotal shares for other 11 148 shareholders \u00a0
\n\t\t\t\t\t75 160 545 \u00a0
\n\t\t\t\t\t64\ufffd77% \u00a0
\n\t\t\t\t\tTotal shares (11 168 shareholders) \u00a0
\n\t\t\t\t\t116 035 298 \u00a0
\n\t\t\t\t\t100\ufffd00% \u00a0
\n\t\t\t\t\tThe shares of Nordic Nanovector ASA have been traded on the Oslo Stock Exchange since 23 March 2015\ufffd The shareholder base \u00a0
\n\t\t\t\t\thas decreased from 11 290 shareholders as of 31 December 2021 to 11 168 shareholders as of 31 December 2022\ufffd \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfIssuedCapitalExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXG6DK30",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact1657": {
"value": "5.6 FINANCE
INCOME AND FINANCE EXPENSES \u00a0
Accounting policy \u00a0
\n\t\t\t\t\tThe group and parent company\u2019s \ufb01nance income largely relates to interest received on bank deposits. Net currency gain or loss \u00a0
\n\t\t\t\t\trelated to operating items includes gain or losses on accounts payable and accounts receivable\ufffd \u00a0
PARENT \u00a0
\n\t\t\t\t\tGROUP \u00a0
\n\t\t\t\t\t2021 2022 \u00a0
\n\t\t\t\t\tNote \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t(Amounts in NOK 1 000) \u00a0
\n\t\t\t\t\tFinance income \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t10 \u00a0
\n\t\t\t\t\tInterest income on tax repaid \u00a0
\n\t\t\t\t\t36 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t1 122 \u00a0
\n\t\t\t\t\t3 081 \u00a0
\n\t\t\t\t\tInterest income on bank deposits \u00a0
\n\t\t\t\t\t5\ufffd3 \u00a0
\n\t\t\t\t\t3 153 \u00a0
\n\t\t\t\t\t1 141 \u00a0
\n\t\t\t\t\t10 135 \u00a0
\n\t\t\t\t\t8 394 \u00a0
\n\t\t\t\t\tDividends from subsidiaries \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t-2 \u00a0
\n\t\t\t\t\tOther \ufb01nance income \u00a0
\n\t\t\t\t\t100 \u00a0
\n\t\t\t\t\t78 \u00a0
\n\t\t\t\t\t11 257 \u00a0
\n\t\t\t\t\t11 483 \u00a0
\n\t\t\t\t\tTotal \ufb01nance income \u00a0
\n\t\t\t\t\t3 289 \u00a0
\n\t\t\t\t\t1 219 \u00a0
\n\t\t\t\t\tFinance expense \u00a0
\n\t\t\t\t\tOther interest expense \u00a0
\n\t\t\t\t\t414 \u00a0
\n\t\t\t\t\t66 \u00a0
\n\t\t\t\t\tInterest expense leasing \u00a0
\n\t\t\t\t\t66 \u00a0
\n\t\t\t\t\t414 \u00a0
\n\t\t\t\t\t215 \u00a0
\n\t\t\t\t\t187 \u00a0
\n\t\t\t\t\tOther fees, charges \u00a0
\n\t\t\t\t\t193 \u00a0
\n\t\t\t\t\t222 \u00a0
\n\t\t\t\t\t629 \u00a0
\n\t\t\t\t\t253 \u00a0
\n\t\t\t\t\tTotal \ufb01nance expense \u00a0
\n\t\t\t\t\t259 \u00a0
\n\t\t\t\t\t636 \u00a0
\n\t\t\t\t\tNet currency gains (losses) \u00a0
\n\t\t\t\t\t292 \u00a0
\n\t\t\t\t\t-479 \u00a0
\n\t\t\t\t\tNet currency gains related to operating items \u00a0
\n\t\t\t\t\t-469 \u00a0
\n\t\t\t\t\t484 \u00a0
\n\t\t\t\t\tNet currency gains (losses) related to foreign exchange differences \u00a0
\n\t\t\t\t\t1 229 \u00a0
\n\t\t\t\t\t4 428 \u00a0
\n\t\t\t\t\t4 428 \u00a0
\n\t\t\t\t\t1 229 \u00a0
\n\t\t\t\t\tof currency bank accounts \u00a0
\n\t\t\t\t\t1 521 \u00a0
\n\t\t\t\t\t3 949 \u00a0
\n\t\t\t\t\tNet currency gains (loss) \u00a0
\n\t\t\t\t\t3 959 \u00a0
\n\t\t\t\t\t1 713 \u00a0
\n\t\t\t\t\t12 149 \u00a0
\n\t\t\t\t\t15 179 \u00a0
\n\t\t\t\t\tNet \ufb01nance income (expenses) \u00a0
\n\t\t\t\t\t6 989 \u00a0
\n\t\t\t\t\t2 296 \u00a0
Net currency gains (losses) related to revaluation of bank deposits in other currencies than NOK is speci\ufb01ed in the table below. \u00a0
\n\t\t\t\t\tPARENT \u00a0
\n\t\t\t\t\tGROUP \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t(Amounts in NOK 1 000) \u00a0
\n\t\t\t\t\tNote \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t-535 \u00a0
\n\t\t\t\t\t2 608 \u00a0
\n\t\t\t\t\tEUR \u00a0
\n\t\t\t\t\t5\ufffd3 \u00a0
\n\t\t\t\t\t2 608 \u00a0
\n\t\t\t\t\t-535 \u00a0
\n\t\t\t\t\t655 \u00a0
\n\t\t\t\t\t1 140 \u00a0
\n\t\t\t\t\tUSD \u00a0
\n\t\t\t\t\t5\ufffd3 \u00a0
\n\t\t\t\t\t1 140 \u00a0
\n\t\t\t\t\t655 \u00a0
\n\t\t\t\t\t487 \u00a0
\n\t\t\t\t\t1 232 \u00a0
\n\t\t\t\t\tCHF \u00a0
\n\t\t\t\t\t5\ufffd3 \u00a0
\n\t\t\t\t\t1 232 \u00a0
\n\t\t\t\t\t487 \u00a0
\n\t\t\t\t\t622 \u00a0
\n\t\t\t\t\t-552 \u00a0
\n\t\t\t\t\tGBP \u00a0
\n\t\t\t\t\t5\ufffd3 \u00a0
\n\t\t\t\t\t-552 \u00a0
\n\t\t\t\t\t622 \u00a0
\n\t\t\t\t\t1 229 \u00a0
\n\t\t\t\t\t4 428 \u00a0
\n\t\t\t\t\tNet currency gains (loss) \u00a0
\n\t\t\t\t\t4 428 \u00a0
\n\t\t\t\t\t1 229 \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfInterestIncomeExpenseExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXG6DK30",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact1661": {
"value": "5.6 FINANCE
INCOME AND FINANCE EXPENSES \u00a0
Accounting policy \u00a0
\n\t\t\t\t\tThe group and parent company\u2019s \ufb01nance income largely relates to interest received on bank deposits. Net currency gain or loss \u00a0
\n\t\t\t\t\trelated to operating items includes gain or losses on accounts payable and accounts receivable\ufffd \u00a0
PARENT \u00a0
\n\t\t\t\t\tGROUP \u00a0
\n\t\t\t\t\t2021 2022 \u00a0
\n\t\t\t\t\tNote \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t(Amounts in NOK 1 000) \u00a0
\n\t\t\t\t\tFinance income \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t10 \u00a0
\n\t\t\t\t\tInterest income on tax repaid \u00a0
\n\t\t\t\t\t36 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t1 122 \u00a0
\n\t\t\t\t\t3 081 \u00a0
\n\t\t\t\t\tInterest income on bank deposits \u00a0
\n\t\t\t\t\t5\ufffd3 \u00a0
\n\t\t\t\t\t3 153 \u00a0
\n\t\t\t\t\t1 141 \u00a0
\n\t\t\t\t\t10 135 \u00a0
\n\t\t\t\t\t8 394 \u00a0
\n\t\t\t\t\tDividends from subsidiaries \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t-2 \u00a0
\n\t\t\t\t\tOther \ufb01nance income \u00a0
\n\t\t\t\t\t100 \u00a0
\n\t\t\t\t\t78 \u00a0
\n\t\t\t\t\t11 257 \u00a0
\n\t\t\t\t\t11 483 \u00a0
\n\t\t\t\t\tTotal \ufb01nance income \u00a0
\n\t\t\t\t\t3 289 \u00a0
\n\t\t\t\t\t1 219 \u00a0
\n\t\t\t\t\tFinance expense \u00a0
\n\t\t\t\t\tOther interest expense \u00a0
\n\t\t\t\t\t414 \u00a0
\n\t\t\t\t\t66 \u00a0
\n\t\t\t\t\tInterest expense leasing \u00a0
\n\t\t\t\t\t66 \u00a0
\n\t\t\t\t\t414 \u00a0
\n\t\t\t\t\t215 \u00a0
\n\t\t\t\t\t187 \u00a0
\n\t\t\t\t\tOther fees, charges \u00a0
\n\t\t\t\t\t193 \u00a0
\n\t\t\t\t\t222 \u00a0
\n\t\t\t\t\t629 \u00a0
\n\t\t\t\t\t253 \u00a0
\n\t\t\t\t\tTotal \ufb01nance expense \u00a0
\n\t\t\t\t\t259 \u00a0
\n\t\t\t\t\t636 \u00a0
\n\t\t\t\t\tNet currency gains (losses) \u00a0
\n\t\t\t\t\t292 \u00a0
\n\t\t\t\t\t-479 \u00a0
\n\t\t\t\t\tNet currency gains related to operating items \u00a0
\n\t\t\t\t\t-469 \u00a0
\n\t\t\t\t\t484 \u00a0
\n\t\t\t\t\tNet currency gains (losses) related to foreign exchange differences \u00a0
\n\t\t\t\t\t1 229 \u00a0
\n\t\t\t\t\t4 428 \u00a0
\n\t\t\t\t\t4 428 \u00a0
\n\t\t\t\t\t1 229 \u00a0
\n\t\t\t\t\tof currency bank accounts \u00a0
\n\t\t\t\t\t1 521 \u00a0
\n\t\t\t\t\t3 949 \u00a0
\n\t\t\t\t\tNet currency gains (loss) \u00a0
\n\t\t\t\t\t3 959 \u00a0
\n\t\t\t\t\t1 713 \u00a0
\n\t\t\t\t\t12 149 \u00a0
\n\t\t\t\t\t15 179 \u00a0
\n\t\t\t\t\tNet \ufb01nance income (expenses) \u00a0
\n\t\t\t\t\t6 989 \u00a0
\n\t\t\t\t\t2 296 \u00a0
Net currency gains (losses) related to revaluation of bank deposits in other currencies than NOK is speci\ufb01ed in the table below. \u00a0
\n\t\t\t\t\tPARENT \u00a0
\n\t\t\t\t\tGROUP \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t(Amounts in NOK 1 000) \u00a0
\n\t\t\t\t\tNote \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t-535 \u00a0
\n\t\t\t\t\t2 608 \u00a0
\n\t\t\t\t\tEUR \u00a0
\n\t\t\t\t\t5\ufffd3 \u00a0
\n\t\t\t\t\t2 608 \u00a0
\n\t\t\t\t\t-535 \u00a0
\n\t\t\t\t\t655 \u00a0
\n\t\t\t\t\t1 140 \u00a0
\n\t\t\t\t\tUSD \u00a0
\n\t\t\t\t\t5\ufffd3 \u00a0
\n\t\t\t\t\t1 140 \u00a0
\n\t\t\t\t\t655 \u00a0
\n\t\t\t\t\t487 \u00a0
\n\t\t\t\t\t1 232 \u00a0
\n\t\t\t\t\tCHF \u00a0
\n\t\t\t\t\t5\ufffd3 \u00a0
\n\t\t\t\t\t1 232 \u00a0
\n\t\t\t\t\t487 \u00a0
\n\t\t\t\t\t622 \u00a0
\n\t\t\t\t\t-552 \u00a0
\n\t\t\t\t\tGBP \u00a0
\n\t\t\t\t\t5\ufffd3 \u00a0
\n\t\t\t\t\t-552 \u00a0
\n\t\t\t\t\t622 \u00a0
\n\t\t\t\t\t1 229 \u00a0
\n\t\t\t\t\t4 428 \u00a0
\n\t\t\t\t\tNet currency gains (loss) \u00a0
\n\t\t\t\t\t4 428 \u00a0
\n\t\t\t\t\t1 229 \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfFinanceCostExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXG6DK30",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact1665": {
"value": "5.6 FINANCE
INCOME AND FINANCE EXPENSES \u00a0
Accounting policy \u00a0
\n\t\t\t\t\tThe group and parent company\u2019s \ufb01nance income largely relates to interest received on bank deposits. Net currency gain or loss \u00a0
\n\t\t\t\t\trelated to operating items includes gain or losses on accounts payable and accounts receivable\ufffd \u00a0
PARENT \u00a0
\n\t\t\t\t\tGROUP \u00a0
\n\t\t\t\t\t2021 2022 \u00a0
\n\t\t\t\t\tNote \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t(Amounts in NOK 1 000) \u00a0
\n\t\t\t\t\tFinance income \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t10 \u00a0
\n\t\t\t\t\tInterest income on tax repaid \u00a0
\n\t\t\t\t\t36 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t1 122 \u00a0
\n\t\t\t\t\t3 081 \u00a0
\n\t\t\t\t\tInterest income on bank deposits \u00a0
\n\t\t\t\t\t5\ufffd3 \u00a0
\n\t\t\t\t\t3 153 \u00a0
\n\t\t\t\t\t1 141 \u00a0
\n\t\t\t\t\t10 135 \u00a0
\n\t\t\t\t\t8 394 \u00a0
\n\t\t\t\t\tDividends from subsidiaries \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t-2 \u00a0
\n\t\t\t\t\tOther \ufb01nance income \u00a0
\n\t\t\t\t\t100 \u00a0
\n\t\t\t\t\t78 \u00a0
\n\t\t\t\t\t11 257 \u00a0
\n\t\t\t\t\t11 483 \u00a0
\n\t\t\t\t\tTotal \ufb01nance income \u00a0
\n\t\t\t\t\t3 289 \u00a0
\n\t\t\t\t\t1 219 \u00a0
\n\t\t\t\t\tFinance expense \u00a0
\n\t\t\t\t\tOther interest expense \u00a0
\n\t\t\t\t\t414 \u00a0
\n\t\t\t\t\t66 \u00a0
\n\t\t\t\t\tInterest expense leasing \u00a0
\n\t\t\t\t\t66 \u00a0
\n\t\t\t\t\t414 \u00a0
\n\t\t\t\t\t215 \u00a0
\n\t\t\t\t\t187 \u00a0
\n\t\t\t\t\tOther fees, charges \u00a0
\n\t\t\t\t\t193 \u00a0
\n\t\t\t\t\t222 \u00a0
\n\t\t\t\t\t629 \u00a0
\n\t\t\t\t\t253 \u00a0
\n\t\t\t\t\tTotal \ufb01nance expense \u00a0
\n\t\t\t\t\t259 \u00a0
\n\t\t\t\t\t636 \u00a0
\n\t\t\t\t\tNet currency gains (losses) \u00a0
\n\t\t\t\t\t292 \u00a0
\n\t\t\t\t\t-479 \u00a0
\n\t\t\t\t\tNet currency gains related to operating items \u00a0
\n\t\t\t\t\t-469 \u00a0
\n\t\t\t\t\t484 \u00a0
\n\t\t\t\t\tNet currency gains (losses) related to foreign exchange differences \u00a0
\n\t\t\t\t\t1 229 \u00a0
\n\t\t\t\t\t4 428 \u00a0
\n\t\t\t\t\t4 428 \u00a0
\n\t\t\t\t\t1 229 \u00a0
\n\t\t\t\t\tof currency bank accounts \u00a0
\n\t\t\t\t\t1 521 \u00a0
\n\t\t\t\t\t3 949 \u00a0
\n\t\t\t\t\tNet currency gains (loss) \u00a0
\n\t\t\t\t\t3 959 \u00a0
\n\t\t\t\t\t1 713 \u00a0
\n\t\t\t\t\t12 149 \u00a0
\n\t\t\t\t\t15 179 \u00a0
\n\t\t\t\t\tNet \ufb01nance income (expenses) \u00a0
\n\t\t\t\t\t6 989 \u00a0
\n\t\t\t\t\t2 296 \u00a0
Net currency gains (losses) related to revaluation of bank deposits in other currencies than NOK is speci\ufb01ed in the table below. \u00a0
\n\t\t\t\t\tPARENT \u00a0
\n\t\t\t\t\tGROUP \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t(Amounts in NOK 1 000) \u00a0
\n\t\t\t\t\tNote \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t-535 \u00a0
\n\t\t\t\t\t2 608 \u00a0
\n\t\t\t\t\tEUR \u00a0
\n\t\t\t\t\t5\ufffd3 \u00a0
\n\t\t\t\t\t2 608 \u00a0
\n\t\t\t\t\t-535 \u00a0
\n\t\t\t\t\t655 \u00a0
\n\t\t\t\t\t1 140 \u00a0
\n\t\t\t\t\tUSD \u00a0
\n\t\t\t\t\t5\ufffd3 \u00a0
\n\t\t\t\t\t1 140 \u00a0
\n\t\t\t\t\t655 \u00a0
\n\t\t\t\t\t487 \u00a0
\n\t\t\t\t\t1 232 \u00a0
\n\t\t\t\t\tCHF \u00a0
\n\t\t\t\t\t5\ufffd3 \u00a0
\n\t\t\t\t\t1 232 \u00a0
\n\t\t\t\t\t487 \u00a0
\n\t\t\t\t\t622 \u00a0
\n\t\t\t\t\t-552 \u00a0
\n\t\t\t\t\tGBP \u00a0
\n\t\t\t\t\t5\ufffd3 \u00a0
\n\t\t\t\t\t-552 \u00a0
\n\t\t\t\t\t622 \u00a0
\n\t\t\t\t\t1 229 \u00a0
\n\t\t\t\t\t4 428 \u00a0
\n\t\t\t\t\tNet currency gains (loss) \u00a0
\n\t\t\t\t\t4 428 \u00a0
\n\t\t\t\t\t1 229 \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfFinanceIncomeExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXG6DK30",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact1669": {
"value": "5.6 FINANCE
INCOME AND FINANCE EXPENSES \u00a0
PARENT \u00a0
\n\t\t\t\t\tGROUP \u00a0
\n\t\t\t\t\t2021 2022 \u00a0
\n\t\t\t\t\tNote \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t(Amounts in NOK 1 000) \u00a0
\n\t\t\t\t\tFinance income \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t10 \u00a0
\n\t\t\t\t\tInterest income on tax repaid \u00a0
\n\t\t\t\t\t36 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t1 122 \u00a0
\n\t\t\t\t\t3 081 \u00a0
\n\t\t\t\t\tInterest income on bank deposits \u00a0
\n\t\t\t\t\t5\ufffd3 \u00a0
\n\t\t\t\t\t3 153 \u00a0
\n\t\t\t\t\t1 141 \u00a0
\n\t\t\t\t\t10 135 \u00a0
\n\t\t\t\t\t8 394 \u00a0
\n\t\t\t\t\tDividends from subsidiaries \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t-2 \u00a0
\n\t\t\t\t\tOther \ufb01nance income \u00a0
\n\t\t\t\t\t100 \u00a0
\n\t\t\t\t\t78 \u00a0
\n\t\t\t\t\t11 257 \u00a0
\n\t\t\t\t\t11 483 \u00a0
\n\t\t\t\t\tTotal \ufb01nance income \u00a0
\n\t\t\t\t\t3 289 \u00a0
\n\t\t\t\t\t1 219 \u00a0
\n\t\t\t\t\tFinance expense \u00a0
\n\t\t\t\t\tOther interest expense \u00a0
\n\t\t\t\t\t414 \u00a0
\n\t\t\t\t\t66 \u00a0
\n\t\t\t\t\tInterest expense leasing \u00a0
\n\t\t\t\t\t66 \u00a0
\n\t\t\t\t\t414 \u00a0
\n\t\t\t\t\t215 \u00a0
\n\t\t\t\t\t187 \u00a0
\n\t\t\t\t\tOther fees, charges \u00a0
\n\t\t\t\t\t193 \u00a0
\n\t\t\t\t\t222 \u00a0
\n\t\t\t\t\t629 \u00a0
\n\t\t\t\t\t253 \u00a0
\n\t\t\t\t\tTotal \ufb01nance expense \u00a0
\n\t\t\t\t\t259 \u00a0
\n\t\t\t\t\t636 \u00a0
\n\t\t\t\t\tNet currency gains (losses) \u00a0
\n\t\t\t\t\t292 \u00a0
\n\t\t\t\t\t-479 \u00a0
\n\t\t\t\t\tNet currency gains related to operating items \u00a0
\n\t\t\t\t\t-469 \u00a0
\n\t\t\t\t\t484 \u00a0
\n\t\t\t\t\tNet currency gains (losses) related to foreign exchange differences \u00a0
\n\t\t\t\t\t1 229 \u00a0
\n\t\t\t\t\t4 428 \u00a0
\n\t\t\t\t\t4 428 \u00a0
\n\t\t\t\t\t1 229 \u00a0
\n\t\t\t\t\tof currency bank accounts \u00a0
\n\t\t\t\t\t1 521 \u00a0
\n\t\t\t\t\t3 949 \u00a0
\n\t\t\t\t\tNet currency gains (loss) \u00a0
\n\t\t\t\t\t3 959 \u00a0
\n\t\t\t\t\t1 713 \u00a0
\n\t\t\t\t\t12 149 \u00a0
\n\t\t\t\t\t15 179 \u00a0
\n\t\t\t\t\tNet \ufb01nance income (expenses) \u00a0
\n\t\t\t\t\t6 989 \u00a0
\n\t\t\t\t\t2 296 \u00a0
Net currency gains (losses) related to revaluation of bank deposits in other currencies than NOK is speci\ufb01ed in the table below. \u00a0
\n\t\t\t\t\tPARENT \u00a0
\n\t\t\t\t\tGROUP \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t(Amounts in NOK 1 000) \u00a0
\n\t\t\t\t\tNote \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t-535 \u00a0
\n\t\t\t\t\t2 608 \u00a0
\n\t\t\t\t\tEUR \u00a0
\n\t\t\t\t\t5\ufffd3 \u00a0
\n\t\t\t\t\t2 608 \u00a0
\n\t\t\t\t\t-535 \u00a0
\n\t\t\t\t\t655 \u00a0
\n\t\t\t\t\t1 140 \u00a0
\n\t\t\t\t\tUSD \u00a0
\n\t\t\t\t\t5\ufffd3 \u00a0
\n\t\t\t\t\t1 140 \u00a0
\n\t\t\t\t\t655 \u00a0
\n\t\t\t\t\t487 \u00a0
\n\t\t\t\t\t1 232 \u00a0
\n\t\t\t\t\tCHF \u00a0
\n\t\t\t\t\t5\ufffd3 \u00a0
\n\t\t\t\t\t1 232 \u00a0
\n\t\t\t\t\t487 \u00a0
\n\t\t\t\t\t622 \u00a0
\n\t\t\t\t\t-552 \u00a0
\n\t\t\t\t\tGBP \u00a0
\n\t\t\t\t\t5\ufffd3 \u00a0
\n\t\t\t\t\t-552 \u00a0
\n\t\t\t\t\t622 \u00a0
\n\t\t\t\t\t1 229 \u00a0
\n\t\t\t\t\t4 428 \u00a0
\n\t\t\t\t\tNet currency gains (loss) \u00a0
\n\t\t\t\t\t4 428 \u00a0
\n\t\t\t\t\t1 229 \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfFinanceIncomeExpenseExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXG6DK30",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact1672": {
"value": "5.6 FINANCE
INCOME AND FINANCE EXPENSES \u00a0
PARENT \u00a0
\n\t\t\t\t\tGROUP \u00a0
\n\t\t\t\t\t2021 2022 \u00a0
\n\t\t\t\t\tNote \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t(Amounts in NOK 1 000) \u00a0
\n\t\t\t\t\tFinance income \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t10 \u00a0
\n\t\t\t\t\tInterest income on tax repaid \u00a0
\n\t\t\t\t\t36 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t1 122 \u00a0
\n\t\t\t\t\t3 081 \u00a0
\n\t\t\t\t\tInterest income on bank deposits \u00a0
\n\t\t\t\t\t5\ufffd3 \u00a0
\n\t\t\t\t\t3 153 \u00a0
\n\t\t\t\t\t1 141 \u00a0
\n\t\t\t\t\t10 135 \u00a0
\n\t\t\t\t\t8 394 \u00a0
\n\t\t\t\t\tDividends from subsidiaries \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t-2 \u00a0
\n\t\t\t\t\tOther \ufb01nance income \u00a0
\n\t\t\t\t\t100 \u00a0
\n\t\t\t\t\t78 \u00a0
\n\t\t\t\t\t11 257 \u00a0
\n\t\t\t\t\t11 483 \u00a0
\n\t\t\t\t\tTotal \ufb01nance income \u00a0
\n\t\t\t\t\t3 289 \u00a0
\n\t\t\t\t\t1 219 \u00a0
\n\t\t\t\t\tFinance expense \u00a0
\n\t\t\t\t\tOther interest expense \u00a0
\n\t\t\t\t\t414 \u00a0
\n\t\t\t\t\t66 \u00a0
\n\t\t\t\t\tInterest expense leasing \u00a0
\n\t\t\t\t\t66 \u00a0
\n\t\t\t\t\t414 \u00a0
\n\t\t\t\t\t215 \u00a0
\n\t\t\t\t\t187 \u00a0
\n\t\t\t\t\tOther fees, charges \u00a0
\n\t\t\t\t\t193 \u00a0
\n\t\t\t\t\t222 \u00a0
\n\t\t\t\t\t629 \u00a0
\n\t\t\t\t\t253 \u00a0
\n\t\t\t\t\tTotal \ufb01nance expense \u00a0
\n\t\t\t\t\t259 \u00a0
\n\t\t\t\t\t636 \u00a0
\n\t\t\t\t\tNet currency gains (losses) \u00a0
\n\t\t\t\t\t292 \u00a0
\n\t\t\t\t\t-479 \u00a0
\n\t\t\t\t\tNet currency gains related to operating items \u00a0
\n\t\t\t\t\t-469 \u00a0
\n\t\t\t\t\t484 \u00a0
\n\t\t\t\t\tNet currency gains (losses) related to foreign exchange differences \u00a0
\n\t\t\t\t\t1 229 \u00a0
\n\t\t\t\t\t4 428 \u00a0
\n\t\t\t\t\t4 428 \u00a0
\n\t\t\t\t\t1 229 \u00a0
\n\t\t\t\t\tof currency bank accounts \u00a0
\n\t\t\t\t\t1 521 \u00a0
\n\t\t\t\t\t3 949 \u00a0
\n\t\t\t\t\tNet currency gains (loss) \u00a0
\n\t\t\t\t\t3 959 \u00a0
\n\t\t\t\t\t1 713 \u00a0
\n\t\t\t\t\t12 149 \u00a0
\n\t\t\t\t\t15 179 \u00a0
\n\t\t\t\t\tNet \ufb01nance income (expenses) \u00a0
\n\t\t\t\t\t6 989 \u00a0
\n\t\t\t\t\t2 296 \u00a0
Net currency gains (losses) related to revaluation of bank deposits in other currencies than NOK is speci\ufb01ed in the table below. \u00a0
\n\t\t\t\t\tPARENT \u00a0
\n\t\t\t\t\tGROUP \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t(Amounts in NOK 1 000) \u00a0
\n\t\t\t\t\tNote \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t-535 \u00a0
\n\t\t\t\t\t2 608 \u00a0
\n\t\t\t\t\tEUR \u00a0
\n\t\t\t\t\t5\ufffd3 \u00a0
\n\t\t\t\t\t2 608 \u00a0
\n\t\t\t\t\t-535 \u00a0
\n\t\t\t\t\t655 \u00a0
\n\t\t\t\t\t1 140 \u00a0
\n\t\t\t\t\tUSD \u00a0
\n\t\t\t\t\t5\ufffd3 \u00a0
\n\t\t\t\t\t1 140 \u00a0
\n\t\t\t\t\t655 \u00a0
\n\t\t\t\t\t487 \u00a0
\n\t\t\t\t\t1 232 \u00a0
\n\t\t\t\t\tCHF \u00a0
\n\t\t\t\t\t5\ufffd3 \u00a0
\n\t\t\t\t\t1 232 \u00a0
\n\t\t\t\t\t487 \u00a0
\n\t\t\t\t\t622 \u00a0
\n\t\t\t\t\t-552 \u00a0
\n\t\t\t\t\tGBP \u00a0
\n\t\t\t\t\t5\ufffd3 \u00a0
\n\t\t\t\t\t-552 \u00a0
\n\t\t\t\t\t622 \u00a0
\n\t\t\t\t\t1 229 \u00a0
\n\t\t\t\t\t4 428 \u00a0
\n\t\t\t\t\tNet currency gains (loss) \u00a0
\n\t\t\t\t\t4 428 \u00a0
\n\t\t\t\t\t1 229 \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfInterestExpenseExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXG6DK30",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact1675": {
"value": "5.6 FINANCE
INCOME AND FINANCE EXPENSES \u00a0
PARENT \u00a0
\n\t\t\t\t\tGROUP \u00a0
\n\t\t\t\t\t2021 2022 \u00a0
\n\t\t\t\t\tNote \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t(Amounts in NOK 1 000) \u00a0
\n\t\t\t\t\tFinance income \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t10 \u00a0
\n\t\t\t\t\tInterest income on tax repaid \u00a0
\n\t\t\t\t\t36 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t1 122 \u00a0
\n\t\t\t\t\t3 081 \u00a0
\n\t\t\t\t\tInterest income on bank deposits \u00a0
\n\t\t\t\t\t5\ufffd3 \u00a0
\n\t\t\t\t\t3 153 \u00a0
\n\t\t\t\t\t1 141 \u00a0
\n\t\t\t\t\t10 135 \u00a0
\n\t\t\t\t\t8 394 \u00a0
\n\t\t\t\t\tDividends from subsidiaries \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t0
\n\t\t\t\t\t-2 \u00a0
\n\t\t\t\t\tOther \ufb01nance income \u00a0
\n\t\t\t\t\t100 \u00a0
\n\t\t\t\t\t78 \u00a0
\n\t\t\t\t\t11 257 \u00a0
\n\t\t\t\t\t11 483 \u00a0
\n\t\t\t\t\tTotal \ufb01nance income \u00a0
\n\t\t\t\t\t3 289 \u00a0
\n\t\t\t\t\t1 219 \u00a0
\n\t\t\t\t\tFinance expense \u00a0
\n\t\t\t\t\tOther interest expense \u00a0
\n\t\t\t\t\t414 \u00a0
\n\t\t\t\t\t66 \u00a0
\n\t\t\t\t\tInterest expense leasing \u00a0
\n\t\t\t\t\t66 \u00a0
\n\t\t\t\t\t414 \u00a0
\n\t\t\t\t\t215 \u00a0
\n\t\t\t\t\t187 \u00a0
\n\t\t\t\t\tOther fees, charges \u00a0
\n\t\t\t\t\t193 \u00a0
\n\t\t\t\t\t222 \u00a0
\n\t\t\t\t\t629 \u00a0
\n\t\t\t\t\t253 \u00a0
\n\t\t\t\t\tTotal \ufb01nance expense \u00a0
\n\t\t\t\t\t259 \u00a0
\n\t\t\t\t\t636 \u00a0
\n\t\t\t\t\tNet currency gains (losses) \u00a0
\n\t\t\t\t\t292 \u00a0
\n\t\t\t\t\t-479 \u00a0
\n\t\t\t\t\tNet currency gains related to operating items \u00a0
\n\t\t\t\t\t-469 \u00a0
\n\t\t\t\t\t484 \u00a0
\n\t\t\t\t\tNet currency gains (losses) related to foreign exchange differences \u00a0
\n\t\t\t\t\t1 229 \u00a0
\n\t\t\t\t\t4 428 \u00a0
\n\t\t\t\t\t4 428 \u00a0
\n\t\t\t\t\t1 229 \u00a0
\n\t\t\t\t\tof currency bank accounts \u00a0
\n\t\t\t\t\t1 521 \u00a0
\n\t\t\t\t\t3 949 \u00a0
\n\t\t\t\t\tNet currency gains (loss) \u00a0
\n\t\t\t\t\t3 959 \u00a0
\n\t\t\t\t\t1 713 \u00a0
\n\t\t\t\t\t12 149 \u00a0
\n\t\t\t\t\t15 179 \u00a0
\n\t\t\t\t\tNet \ufb01nance income (expenses) \u00a0
\n\t\t\t\t\t6 989 \u00a0
\n\t\t\t\t\t2 296 \u00a0
Net currency gains (losses) related to revaluation of bank deposits in other currencies than NOK is speci\ufb01ed in the table below. \u00a0
\n\t\t\t\t\tPARENT \u00a0
\n\t\t\t\t\tGROUP \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t(Amounts in NOK 1 000) \u00a0
\n\t\t\t\t\tNote \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t-535 \u00a0
\n\t\t\t\t\t2 608 \u00a0
\n\t\t\t\t\tEUR \u00a0
\n\t\t\t\t\t5\ufffd3 \u00a0
\n\t\t\t\t\t2 608 \u00a0
\n\t\t\t\t\t-535 \u00a0
\n\t\t\t\t\t655 \u00a0
\n\t\t\t\t\t1 140 \u00a0
\n\t\t\t\t\tUSD \u00a0
\n\t\t\t\t\t5\ufffd3 \u00a0
\n\t\t\t\t\t1 140 \u00a0
\n\t\t\t\t\t655 \u00a0
\n\t\t\t\t\t487 \u00a0
\n\t\t\t\t\t1 232 \u00a0
\n\t\t\t\t\tCHF \u00a0
\n\t\t\t\t\t5\ufffd3 \u00a0
\n\t\t\t\t\t1 232 \u00a0
\n\t\t\t\t\t487 \u00a0
\n\t\t\t\t\t622 \u00a0
\n\t\t\t\t\t-552 \u00a0
\n\t\t\t\t\tGBP \u00a0
\n\t\t\t\t\t5\ufffd3 \u00a0
\n\t\t\t\t\t-552 \u00a0
\n\t\t\t\t\t622 \u00a0
\n\t\t\t\t\t1 229 \u00a0
\n\t\t\t\t\t4 428 \u00a0
\n\t\t\t\t\tNet currency gains (loss) \u00a0
\n\t\t\t\t\t4 428 \u00a0
\n\t\t\t\t\t1 229 \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfInterestIncomeExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXG6DK30",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact1678": {
"value": "Accounting policy \u00a0
\n\t\t\t\t\tThe group and parent company\u2019s \ufb01nance income largely relates to interest received on bank deposits. Net currency gain or loss \u00a0
\n\t\t\t\t\trelated to operating items includes gain or losses on accounts payable and accounts receivable\ufffd \u00a0
",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForFinanceIncomeAndCostsExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXG6DK30",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact1679": {
"value": "Accounting policy \u00a0
\n\t\t\t\t\tThe group and parent company\u2019s \ufb01nance income largely relates to interest received on bank deposits. Net currency gain or loss \u00a0
\n\t\t\t\t\trelated to operating items includes gain or losses on accounts payable and accounts receivable\ufffd \u00a0
",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForFinanceCostsExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXG6DK30",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact1680": {
"value": "5.7 EARNINGS
PER SHARE (EPS) \u00a0
Accounting policy \u00a0
\n\t\t\t\t\tEarnings per share are calculated by dividing the pro\ufb01t or loss attributable to ordinary shareholders of the company by the \u00a0
\n\t\t\t\t\tweighted average number of ordinary shares outstanding during the period. Diluted earnings per share are calculated as pro\ufb01t \u00a0
\n\t\t\t\t\tor loss attributable to ordinary shareholders of the company, adjusted for the effects of all dilutive potential options\ufffd Issued share \u00a0
\n\t\t\t\t\toptions, performance share units and restricted stock units have a potential dilutive effect on earnings per share (see note 6\ufffd3 \u00a0
\n\t\t\t\t\tfor details on share based payments)\ufffd No dilutive effect has been recognised as potential ordinary shares only shall be treated \u00a0
\n\t\t\t\t\tas dilutive if their conversion to ordinary shares would decrease earnings per share, or increase loss per share from continuing \u00a0
\n\t\t\t\t\toperations. As the company is currently loss-making an increase in the average number of shares would have anti-dilutive effect. \u00a0
The calculation of basic and diluted earnings per share attributable to the ordinary shareholders of the parent is based on the data \u00a0
\n\t\t\t\t\tpresented in the table below. \u00a0
\n\t\t\t\t\tPARENT \u00a0
\n\t\t\t\t\tGROUP \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t(Amounts in NOK, except number of shares) \u00a0
\n\t\t\t\t\tNote \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t-433 151 000 \u00a0
\n\t\t\t\t\t-310 251 000
Loss for the year \u00a0
\n\t\t\t\t\t-311 241 000 \u00a0
\n\t\t\t\t\t-441 303 000 \u00a0
\n\t\t\t\t\tAverage number of outstanding shares \u00a0
\n\t\t\t\t\t94 818 761 \u00a0
\n\t\t\t\t\t115 129 972
during the year1) \u00a0
\n\t\t\t\t\t5\ufffd5 \u00a0
\n\t\t\t\t\t115 129 972 \u00a0
\n\t\t\t\t\t94 818 761 \u00a0
\n\t\t\t\t\tEarnings (loss) per share - \u00a0
\n\t\t\t\t\t-4\ufffd57 \u00a0
\n\t\t\t\t\t-2\ufffd69 basic and diluted (in NOK per share) \u00a0
\n\t\t\t\t\t-2\ufffd70 \u00a0
\n\t\t\t\t\t-4\ufffd65 \u00a0
\n\t\t\t\t\t1) The weighted number of shares takes into account the weighted average effect of changes in shares during the year. \u00a0
\n\t\t\t\t\tExercise of all outstanding PSUs and options as per 31 December 2022 would increase the total number of shares in the company \u00a0
\n\t\t\t\t\tby 298 000\ufffd See note 6\ufffd3 for more details\ufffd \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfEarningsPerShareExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXG6DK30",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact1683": {
"value": "Accounting policy \u00a0
\n\t\t\t\t\tEarnings per share are calculated by dividing the pro\ufb01t or loss attributable to ordinary shareholders of the company by the \u00a0
\n\t\t\t\t\tweighted average number of ordinary shares outstanding during the period. Diluted earnings per share are calculated as pro\ufb01t \u00a0
\n\t\t\t\t\tor loss attributable to ordinary shareholders of the company, adjusted for the effects of all dilutive potential options\ufffd Issued share \u00a0
\n\t\t\t\t\toptions, performance share units and restricted stock units have a potential dilutive effect on earnings per share (see note 6\ufffd3 \u00a0
\n\t\t\t\t\tfor details on share based payments)\ufffd No dilutive effect has been recognised as potential ordinary shares only shall be treated \u00a0
\n\t\t\t\t\tas dilutive if their conversion to ordinary shares would decrease earnings per share, or increase loss per share from continuing \u00a0
\n\t\t\t\t\toperations. As the company is currently loss-making an increase in the average number of shares would have anti-dilutive effect. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForEarningsPerShareExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXG6DK30",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact1684": {
"value": "6\ufffd1 REMUNERATION
TO MANAGEMENT \u00a0
Shares in the company are held by the members of the management group 31 December 2022. \u00a0
\n\t\t\t\t\tEmployed with \u00a0
\n\t\t\t\t\tthe Company \u00a0
\n\t\t\t\t\tNumber of \u00a0
\n\t\t\t\t\tNumber of \u00a0
\n\t\t\t\t\tName \u00a0
\n\t\t\t\t\tCurrent position within the Company \u00a0
\n\t\t\t\t\tsince \u00a0
\n\t\t\t\t\tshares 2022 1) \u00a0
\n\t\t\t\t\tshares 2021 1) \u00a0
\n\t\t\t\t\tManagement at year end \u00a0
\n\t\t\t\t\tInterim Chief Excecutive Of\ufb01cer and \u00a0
\n\t\t\t\t\tMalene Brondberg \u00a0
\n\t\t\t\t\tChief Financial Of\ufb01cer \u00a0
\n\t\t\t\t\tFebruary 2018 \u00a0
\n\t\t\t\t\t32 000 \u00a0
\n\t\t\t\t\t21 196 \u00a0
\n\t\t\t\t\tErik Skullerud \u00a0
\n\t\t\t\t\tFormer Chief Excecutive Of\ufb01cer \u00a0
\n\t\t\t\t\tSeptember 2021 \u00a0
\n\t\t\t\t\t3 571 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\tLars Nieba \u00a0
\n\t\t\t\t\tChief Technology Of\ufb01cer \u00a0
\n\t\t\t\t\tDecember 2019 \u00a0
\n\t\t\t\t\t15 713 \u00a0
\n\t\t\t\t\t15 713 \u00a0
\n\t\t\t\t\tJostein Dahle \u00a0
\n\t\t\t\t\tChief Scienti\ufb01c Of\ufb01cer \u00a0
\n\t\t\t\t\tJanuary 2011 \u00a0
\n\t\t\t\t\t212 191 \u00a0
\n\t\t\t\t\t204 958 \u00a0
\n\t\t\t\t\tTotal shares owned by management \u00a0
\n\t\t\t\t\t263 475 \u00a0
\n\t\t\t\t\t241 867 \u00a0
\n\t\t\t\t\t1) Overview includes only management still employed at 31 December 2022. Shareholding including shares held by related parties. \u00a0
6.2 COMPENSATION
FOR LEADERSHIP TEAM MEMBERS \u00a0
This section provides an overview of the members of the compensation committee and an overview of elements in the compensation \u00a0
\n\t\t\t\t\tof the leadership team\ufffd Further information on the compensation of the leadership team members and the board can be found in \u00a0
\n\t\t\t\t\tthe remuneration report\ufffd \u00a0
\n\t\t\t\t\tOverview of the compensation policy \u00a0
\n\t\t\t\t\tNordic Nanovector\u2019s remuneration of the leadership team is proposed by the compensation committee and approved by the board. \u00a0
\n\t\t\t\t\tThe members of the Nordic Nanovector compensation committee were, up until 15 September: \u00a0
\n\t\t\t\t\t\u2022
\n\t\t\t\t\tSolveig Hellebust \u2013 chair \u00a0
\n\t\t\t\t\t\u2022
\n\t\t\t\t\tJoanna Horobin \u00a0
\n\t\t\t\t\t\u2022
\n\t\t\t\t\tJan H\ufffd Egberts \u00a0
\n\t\t\t\t\tThe Compensation Committee played a vital role in the restructuring of the Company and the reduction of staff numbers\ufffd After the \u00a0
\n\t\t\t\t\treduction of the Board on the 15 September, the Compensation Committee\u2019s tasks were moved to the remaining Board. \u00a0
\n\t\t\t\t\tCompensation for leadership team members \u00a0
\n\t\t\t\t\tNordic Nanovector seeks to entertain a performance-oriented culture, where the individual achievement is clearly aligned with \u00a0
\n\t\t\t\t\tthe company\u2019s overall strategic objectives. The company evaluates and rewards the leadership team based on their contributions \u00a0
\n\t\t\t\t\tto the achievement of the corporate priorities set early in the year\ufffd The performance of each member of the leadership team is \u00a0
\n\t\t\t\t\treviewed on an annual basis. \u00a0
\n\t\t\t\t\tNordic Nanovector\u2019s performance-based compensation programme consists of \ufb01ve components: \u00a0
\n\t\t\t\t\t\u2022
\n\t\t\t\t\tbase salary \u00a0
\n\t\t\t\t\t\u2022
\n\t\t\t\t\tpension bene\ufb01ts and \u2013 \u00a0
\n\t\t\t\t\t\u2022
\n\t\t\t\t\tother bene\ufb01ts \u00a0
\n\t\t\t\t\t\u2022
\n\t\t\t\t\tshort-term cash bonus \u00a0
\n\t\t\t\t\t\u2022
\n\t\t\t\t\tlong-term equity award \u00a0
\n\t\t\t\t\tThe board\u2019s view is that these \ufb01ve components best align the interests of the executive leadership team with those of the \u00a0
\n\t\t\t\t\tcompany\u2019s shareholders. This alignment is achieved by keeping a substantial portion of the total compensation allocated to \u00a0
\n\t\t\t\t\t\u201cat-risk\u201d performance-based incentives using short- and long-term incentive compensation\ufffd An appropriate level and mix of \u00a0
\n\t\t\t\t\tcompensation components are determined with independent and relevant compensation data as important input. The guidelines \u00a0
\n\t\t\t\t\tapply to the \ufb01nancial year 2022 and until new guidelines are adopted by the general meeting. \u00a0
\n\t\t\t\t\tFollowing the discontinuation of PARADIGME in July 2022, the annual cash bonus plan for 2022 was cancelled and as result no \u00a0
\n\t\t\t\t\tbonuses was paid out under this plan for the year 2022. \u00a0
As per 31 December 2022 \u00a0
\n\t\t\t\t\tNumber \u00a0
\n\t\t\t\t\tRemuneration \u00a0
\n\t\t\t\t\tAllocation Remuneration \u00a0
\n\t\t\t\t\tNumber of \u00a0
\n\t\t\t\t\tMarket \u00a0
\n\t\t\t\t\tof RSUs
Tot number \u00a0
\n\t\t\t\t\tfor the period \u00a0
\n\t\t\t\t\tbetween for the period \u00a0
\n\t\t\t\t\tRSUs for \u00a0
\n\t\t\t\t\tprice on \u00a0
\n\t\t\t\t\texercised/ of RSUs \u00a0
\n\t\t\t\t\t2022-2023 \u00a0
\n\t\t\t\t\tcash and \u00a0
\n\t\t\t\t\t2022-2023 \u00a0
\n\t\t\t\t\tthe period
grant date7) \u00a0
\n\t\t\t\t\tsettled outstanding \u00a0
\n\t\t\t\t\tName \u00a0
\n\t\t\t\t\tin NOK \u00a0
\n\t\t\t\t\tRSUs \u00a0
\n\t\t\t\t\tin cash \u00a0
\n\t\t\t\t\t2022-2023 \u00a0
\n\t\t\t\t\tin NOK \u00a0
\n\t\t\t\t\tin 20228) 31 Dec 2022 \u00a0
\n\t\t\t\t\tJan H. Egberts1) \u00a0
\n\t\t\t\t\t640 000 \u00a0
\n\t\t\t\t\t1/3 RSU \u00a0
\n\t\t\t\t\t426 667 \u00a0
\n\t\t\t\t\t14 939 \u00a0
\n\t\t\t\t\t14,28 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t39 593 \u00a0
\n\t\t\t\t\tJoanna Horobin2) \u00a0
\n\t\t\t\t\t390 000 \u00a0
\n\t\t\t\t\t1/3 RSU \u00a0
\n\t\t\t\t\t260 000 \u00a0
\n\t\t\t\t\t9 103 \u00a0
\n\t\t\t\t\t14,28 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t13 905 \u00a0
\n\t\t\t\t\tKarin Meyer3) \u00a0
\n\t\t\t\t\t370 000 \u00a0
\n\t\t\t\t\t1/3 RSU \u00a0
\n\t\t\t\t\t246 667 \u00a0
\n\t\t\t\t\t8 636 \u00a0
\n\t\t\t\t\t14,28 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t18 817 \u00a0
\n\t\t\t\t\tFormer members of the board \u00a0
\n\t\t\t\t\tJean-Pierre Bizzari4) \u00a0
\n\t\t\t\t\t370 000 \u00a0
\n\t\t\t\t\t1/3 RSU \u00a0
\n\t\t\t\t\t246 667 \u00a0
\n\t\t\t\t\t8 636 \u00a0
\n\t\t\t\t\t14,28 \u00a0
\n\t\t\t\t\t8 712 \u00a0
\n\t\t\t\t\t-
\n\t\t\t\t\tThomas Ramdahl5) \u00a0
\n\t\t\t\t\t350 000 \u00a0
\n\t\t\t\t\t1/3 RSU \u00a0
\n\t\t\t\t\t233 333 \u00a0
\n\t\t\t\t\t8 169 \u00a0
\n\t\t\t\t\t14,28 \u00a0
\n\t\t\t\t\t3 443 \u00a0
\n\t\t\t\t\t-
\n\t\t\t\t\tSolveig Hellebust6) \u00a0
\n\t\t\t\t\t370 000
100% RSU \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t25 910 \u00a0
\n\t\t\t\t\t14,28 \u00a0
\n\t\t\t\t\t24 797 \u00a0
\n\t\t\t\t\t-
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\t2 490 000 \u00a0
\n\t\t\t\t\t1 413 333 \u00a0
\n\t\t\t\t\t75 393 \u00a0
\n\t\t\t\t\t36 952 \u00a0
\n\t\t\t\t\t72 315 \u00a0
1) NOK 600 000 as chairman of the board, NOK 20 000 as a member of the audit committee and NOK 20 000 as member of the compensation committee. \u00a0
\n\t\t\t\t\t2) NOK 330 000 as board member, NOK 20 000 as member of the audit committee, NOK 20 000 as member of the compensation committee and NOK 20 000 \u00a0
\n\t\t\t\t\tas member of the clinical committee. \u00a0
\n\t\t\t\t\t3) NOK 330 000 as board member and NOK 40 000 as chair of the audit commitee. \u00a0
\n\t\t\t\t\t4) NOK 330 000 as board member and NOK 40 000 as chair of the clinical committee. \u00a0
\n\t\t\t\t\t5) NOK 330 000 as board member and NOK 20,000 as member of the clinical committee. \u00a0
\n\t\t\t\t\t6) NOK 330,000 as board member and NOK 40,000 as chair of the compensation committee. \u00a0
\n\t\t\t\t\t7) The market price is calculated as volume weighted average share price the 10 trading days prior to the date of the AGM on 28 April 2022, i.e. NOK 14.28. \u00a0
\n\t\t\t\t\t8) The company also settled previous board member Rainer Boehm\u2019s 15 824 vested RSUs. See table below for details about the settlement. \u00a0
6\ufffd4 REMUNERATION
TO THE BOARD \u00a0
The AGM held on 28 April 2022 resolved remuneration to the board and the nomination committee for the period from the 2022 \u00a0
\n\t\t\t\t\tAGM until the AGM in 2023 as shown in the table below. On 15 September 2022 the company announced that following the \u00a0
\n\t\t\t\t\tdecision to discontinue the PARADIGME study three board members had decided to step down. Solveig Hellebust, Jean Pierre \u00a0
\n\t\t\t\t\tBizzari and Thomas Ramdahl left the company\u2019s board with immediate effect. For the remainder of 2022 the board consisted of \u00a0
\n\t\t\t\t\tJan H. Egberts (Chair), Joanna Horobin and Karin Meyer. At the same time the compensation-, audit- and clinical committee\u2019s \u00a0
\n\t\t\t\t\ttasks were moved to the remaining board. \u00a0
\n\t\t\t\t\tBoard of \u00a0
\n\t\t\t\t\tAudit \u00a0
\n\t\t\t\t\tCompensation \u00a0
\n\t\t\t\t\tClinical \u00a0
\n\t\t\t\t\tNomination \u00a0
\n\t\t\t\t\t(Amounts in NOK 1 000, \u00a0
\n\t\t\t\t\texclusive of social security) \u00a0
\n\t\t\t\t\tdirectors \u00a0
\n\t\t\t\t\tcommittee \u00a0
\n\t\t\t\t\tcommittee \u00a0
\n\t\t\t\t\tcommittee \u00a0
\n\t\t\t\t\tcommittee \u00a0
\n\t\t\t\t\tChair \u00a0
\n\t\t\t\t\t600 \u00a0
\n\t\t\t\t\t40 \u00a0
\n\t\t\t\t\t40 \u00a0
\n\t\t\t\t\t40 \u00a0
\n\t\t\t\t\t45 \u00a0
\n\t\t\t\t\tMembers \u00a0
\n\t\t\t\t\t330 \u00a0
\n\t\t\t\t\t20 \u00a0
\n\t\t\t\t\t20 \u00a0
\n\t\t\t\t\t20 \u00a0
\n\t\t\t\t\t25 \u00a0
\n\t\t\t\t\tBoard of directors and their roles \u00a0
\n\t\t\t\t\tBoard of \u00a0
\n\t\t\t\t\tAudit \u00a0
\n\t\t\t\t\tCompensation \u00a0
\n\t\t\t\t\tClinical \u00a0
\n\t\t\t\t\tBoard member \u00a0
\n\t\t\t\t\tdirectors \u00a0
\n\t\t\t\t\tcommittee \u00a0
\n\t\t\t\t\tcommittee \u00a0
\n\t\t\t\t\tcommittee \u00a0
\n\t\t\t\t\tJan H\ufffd Egberts \u00a0
\n\t\t\t\t\tChair \u00a0
\n\t\t\t\t\tMember \u00a0
\n\t\t\t\t\tMember \u00a0
\n\t\t\t\t\tKarin Meyer \u00a0
\n\t\t\t\t\tMember \u00a0
\n\t\t\t\t\tChair \u00a0
\n\t\t\t\t\tJoanna Horobin \u00a0
\n\t\t\t\t\tMember \u00a0
\n\t\t\t\t\tMember \u00a0
\n\t\t\t\t\tMember \u00a0
\n\t\t\t\t\tMember \u00a0
\n\t\t\t\t\tJean-Pierre Bizzari 1) \u00a0
\n\t\t\t\t\tMember \u00a0
\n\t\t\t\t\tChair \u00a0
\n\t\t\t\t\tThomas Ramdahl 1) \u00a0
\n\t\t\t\t\tMember \u00a0
\n\t\t\t\t\tMember \u00a0
\n\t\t\t\t\tSolveig Hellebust 1) \u00a0
\n\t\t\t\t\tMember \u00a0
\n\t\t\t\t\tChair \u00a0
\n\t\t\t\t\t1) Board member until September 2022 \u00a0
Members of the board committees, such as the audit committee, the compensation committee and the clinical committee shall re- \u00a0
\n\t\t\t\t\tceive remuneration of NOK 4 000 per committee meeting, but not less than NOK 20 000 for each committee member\ufffd The chair of \u00a0
\n\t\t\t\t\teach committee will receive NOK 8 000 per meeting and minimum NOK 40 000. In order to attract international board members, it \u00a0
\n\t\t\t\t\twas approved to pay board members EUR 100 per lost working hour when traveling to attend board meetings. \u00a0
\n\t\t\t\t\tAt the 2022 AGM, the shareholders approved the issuance of restricted stock units (RSUs) to board members, who elected to re- \u00a0
\n\t\t\t\t\tceive all or parts of their remuneration in the form of RSUs. The board members\u2018 election of RSUs as part of their remuneration is \u00a0
\n\t\t\t\t\tdisclosed in note 6\ufffd3\ufffd2\ufffd \u00a0
Remuneration to the board for the 12 month period from AGM to AGM the following year \u00a0
\n\t\t\t\t\tBoard fee and fees for committee work2) \u00a0
\n\t\t\t\t\t(Amounts in NOK 1 000, \u00a0
\n\t\t\t\t\tServed since / \u00a0
\n\t\t\t\t\texcept number of shares) \u00a0
\n\t\t\t\t\tperiod on the board \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tBoard per 31 December 2022 \u00a0
\n\t\t\t\t\tJan H\ufffd Egberts1) \u00a0
\n\t\t\t\t\tFebruary 2019 \u00a0
\n\t\t\t\t\t640 \u00a0
\n\t\t\t\t\t620 \u00a0
\n\t\t\t\t\tJoanna Horobin \u00a0
\n\t\t\t\t\tOctober 2016 \u00a0
\n\t\t\t\t\t390 \u00a0
\n\t\t\t\t\t370 \u00a0
\n\t\t\t\t\tKarin Meyer \u00a0
\n\t\t\t\t\tJune 2020 \u00a0
\n\t\t\t\t\t370 \u00a0
\n\t\t\t\t\t370 \u00a0
\n\t\t\t\t\tFormer member of the board \u00a0
\n\t\t\t\t\tJean-Pierre Bizzari4) \u00a0
\n\t\t\t\t\tMay 2016 - September 2022 \u00a0
\n\t\t\t\t\t370 \u00a0
\n\t\t\t\t\t370 \u00a0
\n\t\t\t\t\tSolveig Hellebust 4) \u00a0
\n\t\t\t\t\tApril 2021 - September 2022 \u00a0
\n\t\t\t\t\t370 \u00a0
\n\t\t\t\t\t350 \u00a0
\n\t\t\t\t\tThomas Ramdahl 5) \u00a0
\n\t\t\t\t\tApril 2022 - September 2022 \u00a0
\n\t\t\t\t\t350 \u00a0
\n\t\t\t\t\t-
\n\t\t\t\t\tPer Samuelsson \u00a0
\n\t\t\t\t\tNovember 2014 - April 2022 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t390 \u00a0
\n\t\t\t\t\tRainer Boehm \u00a0
\n\t\t\t\t\tMay 2018 - April 2022 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t350 \u00a0
\n\t\t\t\t\tTotal \u00a0
\n\t\t\t\t\t2 490 \u00a0
\n\t\t\t\t\t2 820 \u00a0
Shares held by the board at year end \u00a0
\n\t\t\t\t\tNumber of shares as of 31.123) \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t32 617 \u00a0
\n\t\t\t\t\t29 046 \u00a0
\n\t\t\t\t\t25 240 \u00a0
\n\t\t\t\t\t25 240 \u00a0
\n\t\t\t\t\t1 286 \u00a0
\n\t\t\t\t\t571 \u00a0
\n\t\t\t\t\t-
\n\t\t\t\t\t20 452 \u00a0
\n\t\t\t\t\t-
\n\t\t\t\t\t-
\n\t\t\t\t\t-
\n\t\t\t\t\t-
\n\t\t\t\t\t-
\n\t\t\t\t\t0
\n\t\t\t\t\t-
\n\t\t\t\t\t5 904 \u00a0
\n\t\t\t\t\t59 143 \u00a0
\n\t\t\t\t\t81 213 \u00a0
1) In
2022 and 2021 the group has used the professional services of its chairperson in relation to consulting services. The consulting services is related \u00a0
\n\t\t\t\t\tto work beyond regular board duties. See section 8.2 for details. \u00a0
\n\t\t\t\t\t2) Minimum fees for committee work included i.e. \ufb01ve meetings per period. \u00a0
\n\t\t\t\t\t3) Shareholdings
are not included for representatives who are no longer members as of 31 December 2022. \u00a0
\n\t\t\t\t\t4) In September the company announced that following the decision to discontinue the PARADIGME study three board members had decided to step down. \u00a0
\n\t\t\t\t\tSolveig Hellebust, Jean Pierre Bizzari and Thomas Ramdahl left the company\u2019s Board with immediate effect. They received pro-rata board fee for their actual \u00a0
\n\t\t\t\t\tservice period as board member. For the remainder of 2022 the board consisted of Jan H. Egberts (Chair), Joanna Horobin and Karin Meyer. \u00a0
\n\t\t\t\t\t5) In 2022 the group has used the professional services from Thomas Ramdahl related to the proposed merger with APIM. The consulting services is related \u00a0
\n\t\t\t\t\tto work beyond regular board duties. See note 8.2 for details. \u00a0
The total remuneration for the board recognised as expense in the accounts for 2022 was NOK 2.4 million (NOK 3.4 million), hereof \u00a0
\n\t\t\t\t\tNOK 1\ufffd5 million in fees payable in cash (NOK 2\ufffd4 million) and NOK 0\ufffd9 million (NOK 1\ufffd3 million) for imputed costs related to share \u00a0
\n\t\t\t\t\tbased payments (RSUs), which has no cash effect. Total remuneration to the board is classi\ufb01ed as other operating expenses and \u00a0
\n\t\t\t\t\tincludes fees for committee work and compensation for lost working hours when traveling to attend the board meetings. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfInformationAboutKeyManagementPersonnelExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXG6DK30",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact1697": {
"value": "7.1 INCOME
TAX \u00a0
Accounting policy \u00a0
\n\t\t\t\t\tIncome tax expense represents the sum of taxes currently payable and deferred tax\ufffd Deferred taxes are recognised based on \u00a0
\n\t\t\t\t\ttemporary differences between the carrying amounts of assets and liabilities in the \ufb01nancial statements and the corresponding \u00a0
\n\t\t\t\t\ttax bases used in the computation of taxable pro\ufb01t. Deferred tax liabilities are recognised for taxable temporary differences, and \u00a0
\n\t\t\t\t\tdeferred tax assets arising from deductible temporary differences are recognised to the extent that it is probable that taxable \u00a0
\n\t\t\t\t\tpro\ufb01ts will be available against which deductible temporary differences can be utilised. Deferred tax liabilities and assets are \u00a0
\n\t\t\t\t\tmeasured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax \u00a0
\n\t\t\t\t\trates that have been enacted or substantively enacted by the end of the reporting period\ufffd \u00a0
\n\t\t\t\t\tThe company is in the research phase of its product development and has incurred signi\ufb01cant tax losses related to its operations. \u00a0
\n\t\t\t\t\tThe deferred tax asset has not been recognised in the statement of \ufb01nancial position, as the company does not consider that \u00a0
\n\t\t\t\t\ttaxable income in the short-term will suf\ufb01ciently support the use of a deferred tax asset. \u00a0
Basis for tax calculation \u00a0
\n\t\t\t\t\tPARENT \u00a0
\n\t\t\t\t\tGROUP \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t(Amounts in NOK 1 000) \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t-433 151 \u00a0
\n\t\t\t\t\t-310 251 \u00a0
\n\t\t\t\t\tTotal comprehensive income (loss) for the period \u00a0
\n\t\t\t\t\t-307 085 \u00a0
\n\t\t\t\t\t-441 685 \u00a0
\n\t\t\t\t\t3 828 \u00a0
\n\t\t\t\t\t-187 \u00a0
\n\t\t\t\t\tNon-deductible expenses \u00a0
\n\t\t\t\t\t-187 \u00a0
\n\t\t\t\t\t3 691 \u00a0
\n\t\t\t\t\t-14 635 \u00a0
\n\t\t\t\t\t-12 981 \u00a0
\n\t\t\t\t\tNon-taxable income \u00a0
\n\t\t\t\t\t-12 981 \u00a0
\n\t\t\t\t\t-14 635 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t10 346 \u00a0
\n\t\t\t\t\tCorrection in taxable income from previous year \u00a0
\n\t\t\t\t\t10 346 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t-27 629 \u00a0
\n\t\t\t\t\t-17 094 \u00a0
\n\t\t\t\t\tShare issue costs \u00a0
\n\t\t\t\t\t-17 094 \u00a0
\n\t\t\t\t\t-27 629 \u00a0
\n\t\t\t\t\t93 \u00a0
\n\t\t\t\t\t18 001 \u00a0
\n\t\t\t\t\tChange in temporary differences \u00a0
\n\t\t\t\t\t18 001 \u00a0
\n\t\t\t\t\t93 \u00a0
\n\t\t\t\t\t-471 494 \u00a0
\n\t\t\t\t\t-312 166 \u00a0
\n\t\t\t\t\tBasis for tax calculation \u00a0
\n\t\t\t\t\t-309 000 \u00a0
\n\t\t\t\t\t-480 165 \u00a0
\n\t\t\t\t\t136 \u00a0
\n\t\t\t\t\t107 \u00a0
\n\t\t\t\t\tIncome tax expense \u00a0
\n\t\t\t\t\t869 \u00a0
\n\t\t\t\t\t1 165 \u00a0
Reconciliation of tax expense and the accounting pro\ufb01t/(loss) \u00a0
\n\t\t\t\t\tPARENT \u00a0
\n\t\t\t\t\tGROUP \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t(Amounts in NOK 1 000) \u00a0
\n\t\t\t\t\t-95 157 \u00a0
\n\t\t\t\t\t-68 255 \u00a0
\n\t\t\t\t\tExpected tax expense \u00a0
\n\t\t\t\t\t-67 493 \u00a0
\n\t\t\t\t\t-94 102 \u00a0
\n\t\t\t\t\t842 \u00a0
\n\t\t\t\t\t-41 \u00a0
\n\t\t\t\t\tNon-deductible expenses \u00a0
\n\t\t\t\t\t-41 \u00a0
\n\t\t\t\t\t816 \u00a0
\n\t\t\t\t\t-3 220 \u00a0
\n\t\t\t\t\t-580 \u00a0
\n\t\t\t\t\tNon-taxable income \u00a0
\n\t\t\t\t\t-580 \u00a0
\n\t\t\t\t\t-3 220 \u00a0
\n\t\t\t\t\t-6 078 \u00a0
\n\t\t\t\t\t-3 761 \u00a0
\n\t\t\t\t\tShare issue costs \u00a0
\n\t\t\t\t\t-3 761 \u00a0
\n\t\t\t\t\t-6 078 \u00a0
\n\t\t\t\t\t103 749 \u00a0
\n\t\t\t\t\t72 744 \u00a0
\n\t\t\t\t\tChange in deferred tax assets not recognised \u00a0
\n\t\t\t\t\t72 744 \u00a0
\n\t\t\t\t\t103 749 \u00a0
\n\t\t\t\t\t136 \u00a0
\n\t\t\t\t\t107 \u00a0
\n\t\t\t\t\tIncome tax expense \u00a0
\n\t\t\t\t\t869 \u00a0
\n\t\t\t\t\t1 165 \u00a0
The corporate tax rate in Norway was 22 per cent in 2022 and 2021. In Switzerland the tax rate in 2022 and 2021 was 11.90 per \u00a0
\n\t\t\t\t\tcent and 11.85 per cent respectively. In UK, the tax rate was 19 per cent in both periods. \u00a0
PARENT \u00a0
\n\t\t\t\t\tGROUP \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t(Amounts in NOK 1 000) \u00a0
\n\t\t\t\t\t2 600 387 \u00a0
\n\t\t\t\t\t2 913 068
Tax losses carried forward \u00a0
\n\t\t\t\t\t2 912 552
2 600 386 \u00a0
\n\t\t\t\t\t832 \u00a0
\n\t\t\t\t\t991 Property, plant
and equipment \u00a0
\n\t\t\t\t\t991 \u00a0
\n\t\t\t\t\t832 \u00a0
\n\t\t\t\t\t331 \u00a0
\n\t\t\t\t\t1
\n\t\t\t\t\tLeasing agreements \u00a0
\n\t\t\t\t\t1
\n\t\t\t\t\t331 \u00a0
\n\t\t\t\t\t878 \u00a0
\n\t\t\t\t\t19 073
Liabilities \u00a0
\n\t\t\t\t\t19 073 \u00a0
\n\t\t\t\t\t878 \u00a0
\n\t\t\t\t\t135 \u00a0
\n\t\t\t\t\t112 Tax payable \u00a0
\n\t\t\t\t\t112 \u00a0
\n\t\t\t\t\t135 \u00a0
\n\t\t\t\t\t2 602 563
2 933 245
Temporary differences and tax loss carry forward \u00a0
\n\t\t\t\t\t2 932 729 \u00a0
\n\t\t\t\t\t2 602 562 \u00a0
\n\t\t\t\t\t572 564 \u00a0
\n\t\t\t\t\t645 314
Deferred tax assets - not recognised in statement of \ufb01nancial position \u00a0
\n\t\t\t\t\t645 200 \u00a0
\n\t\t\t\t\t572 564 \u00a0
Deferred tax assets as of 31 December 2022 and 2021 have been calculated using a tax rate of 22 per cent\ufffd \u00a0
\n\t\t\t\t\tThe group is in the research phase of its product development and has incurred signi\ufb01cant tax losses related to its operations. \u00a0
\n\t\t\t\t\tThe parent company has a total tax loss carried forward of NOK 2 913.2 million at 31 December 2022. At 31 December 2021 the \u00a0
\n\t\t\t\t\ttotal tax loss carried forward was NOK 2 600.4 million. The tax losses can be carried forward inde\ufb01nitely. \u00a0
\n\t\t\t\t\tThe group nor the parent company have recognised a deferred tax asset in the statement of \ufb01nancial position, as the parent \u00a0
\n\t\t\t\t\tcompany does not consider that taxable income in the near term will suf\ufb01ciently support the utilization of a deferred tax asset. \u00a0
\n\t\t\t\t\tNo current or deferred tax charge or liability has been recognised for 2022 and 2021\ufffd \u00a0
\n\t\t\t\t\tThe income tax expense in the parent relates to pro\ufb01t before income tax in Nordic Nanovector DK, branch of Nordic Nanovector \u00a0
\n\t\t\t\t\tASA. Pro\ufb01t before tax in the subsidiaries in UK and Switzerland leads to a tax expense for the group. \u00a0
\n\t\t\t\t\tThe correction in 2021 is mainly related to tax treatment on dividend received from Nordic Nanovector GmbH\ufffd \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfIncomeTaxExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXG6DK30",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact1704": {
"value": "Accounting policy \u00a0
\n\t\t\t\t\tIncome tax expense represents the sum of taxes currently payable and deferred tax\ufffd Deferred taxes are recognised based on \u00a0
\n\t\t\t\t\ttemporary differences between the carrying amounts of assets and liabilities in the \ufb01nancial statements and the corresponding \u00a0
\n\t\t\t\t\ttax bases used in the computation of taxable pro\ufb01t. Deferred tax liabilities are recognised for taxable temporary differences, and \u00a0
\n\t\t\t\t\tdeferred tax assets arising from deductible temporary differences are recognised to the extent that it is probable that taxable \u00a0
\n\t\t\t\t\tpro\ufb01ts will be available against which deductible temporary differences can be utilised. Deferred tax liabilities and assets are \u00a0
\n\t\t\t\t\tmeasured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax \u00a0
\n\t\t\t\t\trates that have been enacted or substantively enacted by the end of the reporting period\ufffd \u00a0
\n\t\t\t\t\tThe company is in the research phase of its product development and has incurred signi\ufb01cant tax losses related to its operations. \u00a0
\n\t\t\t\t\tThe deferred tax asset has not been recognised in the statement of \ufb01nancial position, as the company does not consider that \u00a0
\n\t\t\t\t\ttaxable income in the short-term will suf\ufb01ciently support the use of a deferred tax asset. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForIncomeTaxExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXG6DK30",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact1705": {
"value": "8\ufffd1 INFORMATION
ABOUT SUBSIDIARIES \u00a0
\n\t\t\t\t\tAccounting policy \u00a0
\n\t\t\t\t\tShares and investments intended for long-term ownership are reported in the parent company\u2019s statement of \ufb01nancial position \u00a0
\n\t\t\t\t\tas long-term investments and valued at cost. The company determines at each reporting date whether there is any objective \u00a0
\n\t\t\t\t\tindication that the investment in the subsidiary is impaired\ufffd If this is the case, the amount of impairment is calculated as the \u00a0
\n\t\t\t\t\tdifference between the recoverable amount of the subsidiary and its carrying value and recognises the amount in the income \u00a0
\n\t\t\t\t\tstatement. Any realised and unrealised losses and any write-downs relating to these investments will be included in the parent\u2019s \u00a0
\n\t\t\t\t\tstatement of comprehensive income as \ufb01nancial items. \u00a0
The consolidated \ufb01nancial statements of the group include \u00a0
\n\t\t\t\t\t(Amounts in NOK 1 000) \u00a0
\n\t\t\t\t\tEquity of interest \u00a0
\n\t\t\t\t\tName \u00a0
\n\t\t\t\t\tCountry of incorporation \u00a0
\n\t\t\t\t\tBook value \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\tNordic Nanovector GmbH \u00a0
\n\t\t\t\t\tSwitzerland \u00a0
\n\t\t\t\t\t137 \u00a0
\n\t\t\t\t\t100% \u00a0
\n\t\t\t\t\t100% \u00a0
\n\t\t\t\t\tNordic Nanovector Ltd \u00a0
\n\t\t\t\t\tUnited Kingdom \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\t100% \u00a0
\n\t\t\t\t\t100% \u00a0
Nordic Nanovector ASA is a public limited company incorporated and domiciled in Norway and is the parent company of the group. \u00a0
\n\t\t\t\t\tThe group\u2019s operations are carried out by the parent company and its wholly-owned subsidiaries Nordic Nanovector GmbH and \u00a0
\n\t\t\t\t\tNordic Nanovector Ltd. Nordic Nanovector GmbH is incorporated in Zug, Switzerland, with its registered address at Dammstrasse \u00a0
\n\t\t\t\t\t19, 6300 Zug, Switzerland. Nordic Nanovector Ltd is incorporated in London, England, with its registered address at 1 Brassey \u00a0
\n\t\t\t\t\tRoad, Shrewsbury SY3 7FA, United Kingdom. \u00a0
\n\t\t\t\t\tNordic Nanovector also had operations in Denmark through Nordic Nanovector DK, a branch of Nordic Nanovector ASA\ufffd The branch \u00a0
\n\t\t\t\t\twas established in October 2017 and is reported as costs incurred in the parent. The branch was closed down in December 2022. \u00a0
The following table provides the total amount of transactions that have been entered into with related parties for the relevant \u00a0
\n\t\t\t\t\t\ufb01nancial year. \u00a0
\n\t\t\t\t\tPurchases \u00a0
\n\t\t\t\t\t(included in other operating expenses) \u00a0
\n\t\t\t\t\tNote \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t(Amounts in NOK 1 000) \u00a0
\n\t\t\t\t\tSubsidiary - Nordic Nanovector GmbH \u00a0
\n\t\t\t\t\t3\ufffd1 \u00a0
\n\t\t\t\t\t30 213 \u00a0
\n\t\t\t\t\t28 866 \u00a0
\n\t\t\t\t\tSubsidiary - Nordic Nanovector Ltd \u00a0
\n\t\t\t\t\t3\ufffd1 \u00a0
\n\t\t\t\t\t32 127 \u00a0
\n\t\t\t\t\t35 705 \u00a0
\n\t\t\t\t\tPurchase of professional services from Veritas Investments B\ufffdV\ufffd 1) \u00a0
\n\t\t\t\t\t6\ufffd4 \u00a0
\n\t\t\t\t\t415 \u00a0
\n\t\t\t\t\t399 \u00a0
\n\t\t\t\t\tPurchase of spesialised IT consultancy from Phi Innovate Ltd 2) \u00a0
\n\t\t\t\t\t25 \u00a0
\n\t\t\t\t\t112 \u00a0
\n\t\t\t\t\tPurchase of professional services from CETIUM AS 3) \u00a0
\n\t\t\t\t\t6\ufffd4 \u00a0
\n\t\t\t\t\t49 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\tPurchase of spesialised consultancy from ELEMENT consulting GmbH 4) \u00a0
\n\t\t\t\t\t28 \u00a0
\n\t\t\t\t\t0
The following table provides overview of amounts owed to and by related parties for the relevant \ufb01nancial year. \u00a0
\n\t\t\t\t\tAmounts owed to related parties \u00a0
\n\t\t\t\t\t(included in current liabilities to group companies) \u00a0
\n\t\t\t\t\tNote \u00a0
\n\t\t\t\t\t31\ufffd12\ufffd2022 \u00a0
\n\t\t\t\t\t31\ufffd12\ufffd2021 \u00a0
\n\t\t\t\t\t(Amounts in NOK 1 000) \u00a0
\n\t\t\t\t\tSubsidiary - Nordic Nanovector GmbH \u00a0
\n\t\t\t\t\t5\ufffd4 \u00a0
\n\t\t\t\t\t4 716 \u00a0
\n\t\t\t\t\t6 591 \u00a0
\n\t\t\t\t\tSubsidiary - Nordic Nanovector Ltd \u00a0
\n\t\t\t\t\t5\ufffd4 \u00a0
\n\t\t\t\t\t3 987 \u00a0
\n\t\t\t\t\t7 823 \u00a0
\n\t\t\t\t\t1) In 2022 and 2021 the group has used the professional services of its chariman in relation to consulting services. The consulting services are related to \u00a0
\n\t\t\t\t\twork beyond regular board duties. The contract for these services is based on market rates and conditions for such services. These services has been \u00a0
\n\t\t\t\t\tinvoiced by Veritas Investments B.V., a company controlled by the chairman of the board. \u00a0
\n\t\t\t\t\t2) Phi-Innovate Limited is managed by close member of the familiy of a related party of the previous CMO, Christine Wilkinson Blanc. Services is based \u00a0
\n\t\t\t\t\ton market rates and conditions for such services. \u00a0
\n\t\t\t\t\t3) In 2022 the group has used the professional services from Thomas Ramdahl related to the proposed merger with APIM. The contract for these services \u00a0
\n\t\t\t\t\tis based on market rates and conditions for such services. These services have been invoiced by Cetium AS, a company controlled by previous member \u00a0
\n\t\t\t\t\tof the board Thomas Ramdahl. \u00a0
\n\t\t\t\t\t4) In 2022 the group has used the professional services from Element Consulting GmbH a company co-founded by previous CEO Erik Skullerud. The \u00a0
\n\t\t\t\t\tcontract for these services is based on market rates and conditions for such services. \u00a0
\n\t\t\t\t\tFor information on remuneration and shareholding to the board of directors and management see note 6\ufffd4 and note 6\ufffd1 repectively\ufffd \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfSignificantInvestmentsInSubsidiariesExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXG6DK30",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact1710": {
"value": "8.2 TRANSACTIONS
WITH RELATED PARTIES \u00a0
Accounting policy \u00a0
\n\t\t\t\t\tThe sales to and purchases from related parties are made on terms equivalent to those that prevail in arm\u2019s length transactions. \u00a0
\n\t\t\t\t\tOutstanding balances at the year-end are unsecured and interest free and settlement occurs in cash\ufffd There have been no \u00a0
\n\t\t\t\t\tguarantees provided or received for any related party receivables or payables. Transactions and balances between companies, \u00a0
\n\t\t\t\t\twhich are a member of the group, have been eliminated in the consolidated accounts for the group. Note 8.1 provides information \u00a0
\n\t\t\t\t\tabout the group\u2019s structure. \u00a0
The following table provides the total amount of transactions that have been entered into with related parties for the relevant \u00a0
\n\t\t\t\t\t\ufb01nancial year. \u00a0
\n\t\t\t\t\tPurchases \u00a0
\n\t\t\t\t\t(included in other operating expenses) \u00a0
\n\t\t\t\t\tNote \u00a0
\n\t\t\t\t\t2022 \u00a0
\n\t\t\t\t\t2021 \u00a0
\n\t\t\t\t\t(Amounts in NOK 1 000) \u00a0
\n\t\t\t\t\tSubsidiary - Nordic Nanovector GmbH \u00a0
\n\t\t\t\t\t3\ufffd1 \u00a0
\n\t\t\t\t\t30 213 \u00a0
\n\t\t\t\t\t28 866 \u00a0
\n\t\t\t\t\tSubsidiary - Nordic Nanovector Ltd \u00a0
\n\t\t\t\t\t3\ufffd1 \u00a0
\n\t\t\t\t\t32 127 \u00a0
\n\t\t\t\t\t35 705 \u00a0
\n\t\t\t\t\tPurchase of professional services from Veritas Investments B\ufffdV\ufffd 1) \u00a0
\n\t\t\t\t\t6\ufffd4 \u00a0
\n\t\t\t\t\t415 \u00a0
\n\t\t\t\t\t399 \u00a0
\n\t\t\t\t\tPurchase of spesialised IT consultancy from Phi Innovate Ltd 2) \u00a0
\n\t\t\t\t\t25 \u00a0
\n\t\t\t\t\t112 \u00a0
\n\t\t\t\t\tPurchase of professional services from CETIUM AS 3) \u00a0
\n\t\t\t\t\t6\ufffd4 \u00a0
\n\t\t\t\t\t49 \u00a0
\n\t\t\t\t\t0
\n\t\t\t\t\tPurchase of spesialised consultancy from ELEMENT consulting GmbH 4) \u00a0
\n\t\t\t\t\t28 \u00a0
\n\t\t\t\t\t0
The following table provides overview of amounts owed to and by related parties for the relevant \ufb01nancial year. \u00a0
\n\t\t\t\t\tAmounts owed to related parties \u00a0
\n\t\t\t\t\t(included in current liabilities to group companies) \u00a0
\n\t\t\t\t\tNote \u00a0
\n\t\t\t\t\t31\ufffd12\ufffd2022 \u00a0
\n\t\t\t\t\t31\ufffd12\ufffd2021 \u00a0
\n\t\t\t\t\t(Amounts in NOK 1 000) \u00a0
\n\t\t\t\t\tSubsidiary - Nordic Nanovector GmbH \u00a0
\n\t\t\t\t\t5\ufffd4 \u00a0
\n\t\t\t\t\t4 716 \u00a0
\n\t\t\t\t\t6 591 \u00a0
\n\t\t\t\t\tSubsidiary - Nordic Nanovector Ltd \u00a0
\n\t\t\t\t\t5\ufffd4 \u00a0
\n\t\t\t\t\t3 987 \u00a0
\n\t\t\t\t\t7 823 \u00a0
\n\t\t\t\t\t1) In 2022 and 2021 the group has used the professional services of its chariman in relation to consulting services. The consulting services are related to \u00a0
\n\t\t\t\t\twork beyond regular board duties. The contract for these services is based on market rates and conditions for such services. These services has been \u00a0
\n\t\t\t\t\tinvoiced by Veritas Investments B.V., a company controlled by the chairman of the board. \u00a0
\n\t\t\t\t\t2) Phi-Innovate Limited is managed by close member of the familiy of a related party of the previous CMO, Christine Wilkinson Blanc. Services is based \u00a0
\n\t\t\t\t\ton market rates and conditions for such services. \u00a0
\n\t\t\t\t\t3) In 2022 the group has used the professional services from Thomas Ramdahl related to the proposed merger with APIM. The contract for these services \u00a0
\n\t\t\t\t\tis based on market rates and conditions for such services. These services have been invoiced by Cetium AS, a company controlled by previous member \u00a0
\n\t\t\t\t\tof the board Thomas Ramdahl. \u00a0
\n\t\t\t\t\t4) In 2022 the group has used the professional services from Element Consulting GmbH a company co-founded by previous CEO Erik Skullerud. The \u00a0
\n\t\t\t\t\tcontract for these services is based on market rates and conditions for such services. \u00a0
\n\t\t\t\t\tFor information on remuneration and shareholding to the board of directors and management see note 6\ufffd4 and note 6\ufffd1 repectively\ufffd \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfRelatedPartyExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXG6DK30",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact1714": {
"value": "8.2 TRANSACTIONS
WITH RELATED PARTIES \u00a0
Accounting policy \u00a0
\n\t\t\t\t\tThe sales to and purchases from related parties are made on terms equivalent to those that prevail in arm\u2019s length transactions. \u00a0
\n\t\t\t\t\tOutstanding balances at the year-end are unsecured and interest free and settlement occurs in cash\ufffd There have been no \u00a0
\n\t\t\t\t\tguarantees provided or received for any related party receivables or payables. Transactions and balances between companies, \u00a0
\n\t\t\t\t\twhich are a member of the group, have been eliminated in the consolidated accounts for the group. Note 8.1 provides information \u00a0
\n\t\t\t\t\tabout the group\u2019s structure. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForTransactionsWithRelatedPartiesExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXG6DK30",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact1716": {
"value": "9.1 EVENTS
AFTER REPORTING DATE \u00a0
Accounting policy \u00a0
\n\t\t\t\t\tNew information on the company\u2019s \ufb01nancial position at the end of the reporting period which becomes known after the reporting \u00a0
\n\t\t\t\t\tperiod is recorded in the annual accounts.
Events after the reporting period that do not affect the company\u2019s \ufb01nancial position \u00a0
\n\t\t\t\t\tat the end of the reporting period, but which will affect the company\u2019s \ufb01nancial position in the future, are disclosed if signi\ufb01cant. \u00a0
Extraordinary general meeting \u00a0
\n\t\t\t\t\tOn 3 January 2023, an extraordinary general meeting (\u201cEGM\u201d) was held. A new board of directors consisting of Jon Magne Asmyr \u00a0
\n\t\t\t\t\t(chairperson), Eddie Berglund and Tina Bj\u00f8rnlund B\u00f8nsdorff was elected by the EGM, as well as a new Nomination Committee \u00a0
\n\t\t\t\t\tconsisting of Hans Peter B\u00f8hn (chairperson), Jan-Tore Pedersen and Vegard Aavik\ufffd \u00a0
Change in the board of directors \u00a0
\n\t\t\t\t\tEddie Berglund informed the board that he will resign from the board with immediate effect on 19 January 2023. \u00a0
New interim CEO and CFO \u00a0
\n\t\t\t\t\tOn 31 January 2023 the company announced that Ludvik Sandnes, former chairperson of Nordic Nanovector, has been appointed \u00a0
\n\t\t\t\t\tinterim Chief Executive Of\ufb01cer (CEO) and Chief Financial Of\ufb01cer (CFO) of the company as from 1 February 2023. At the same time \u00a0
\n\t\t\t\t\tMalene Brondberg, former interim CEO and CFO, transitioned out of the company, as previously announced on 9 December 2022\ufffd \u00a0
\n\t\t\t\t\tIt was further annonced that the board, together with management and the company\u2019s \ufb01nancial advisors, Carnegie, will assess the \u00a0
\n\t\t\t\t\tstrategic options that may be open to the company and put forward any recommended proposals for resolution by the company\u2019s \u00a0
\n\t\t\t\t\tshareholders in the coming months\ufffd \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfEventsAfterReportingPeriodExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXG6DK30",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact1721": {
"value": "9.3 CHANGE
IN ACCOUNTING POLICIES AND DISCLOSURES \u00a0
\n\t\t\t\t\tChanges / improvements \u00a0
\n\t\t\t\t\tStandard \u00a0
\n\t\t\t\t\tNew standards \u00a0
\n\t\t\t\t\tNo new standards have been implemented in 2022. \u00a0
\n\t\t\t\t\tAmendments \u00a0
\n\t\t\t\t\t\u2022 Amendments to IFRS 3 - Updating a reference to the conceptual Framework \u00a0
\n\t\t\t\t\tThe amendments updated the reference to the Conceptual Framework. \u00a0
\n\t\t\t\t\tThe implementation did not have any material impact on the \ufb01nancial statements. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfChangesInAccountingPoliciesExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXG6DK30",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"fact1722": {
"value": "9.3 CHANGE
IN ACCOUNTING POLICIES AND DISCLOSURES \u00a0
\n\t\t\t\t\tChanges / improvements \u00a0
\n\t\t\t\t\tStandard \u00a0
\n\t\t\t\t\tNew standards \u00a0
\n\t\t\t\t\tNo new standards have been implemented in 2022. \u00a0
\n\t\t\t\t\tAmendments \u00a0
\n\t\t\t\t\t\u2022 Amendments to IFRS 3 - Updating a reference to the conceptual Framework \u00a0
\n\t\t\t\t\tThe amendments updated the reference to the Conceptual Framework. \u00a0
\n\t\t\t\t\tThe implementation did not have any material impact on the \ufb01nancial statements. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfFirstTimeAdoptionExplanatory",
"language": "en",
"entity": "scheme:5967007LIEEXZXG6DK30",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
}
}
}