Crossject

We have revised our numbers for the current year, based on the assumption that the launch of Zepizure (Midazolam) can now not take place in FY26, but rather in H127 at best. Hence, our longer-term forecasts remain unchanged, even if the current year will witness yet another significant loss (c. -€14m)

Our DCF and NAV go down slightly with the absence of revenues in FY26. It is actually extremely unlikely that the EUA (Emergency Use Authorisation) could be granted before H127 at best.

Our DCF and NAV go down slightly with the absence of revenues in FY26. It is actually extremely unlikely that the EUA (Emergency Use Authorisation) could be granted before H127 at best.