What changed in this filing

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Item 1. Financial Statements

2026-07-29 compared with 2026-05-05 · 160 added, 101 removed, 355 unchanged (42% of the section changed)

35 unchanged sentences

Ordinary shares, € 0.05 par value:

80,000,000 shares authorized at March 31, 2026, and December 31, 2025, and 63,033,249 and 62,336,717 shares issued and outstanding at March 31, 2026, and December 31, 2025, respectively.

100,000,000 shares authorized at June 30, 2026, and 80,000,000 at December 31, 2025, and 69,334,839 and 62,336,717 shares issued and outstanding at June 30, 2026, and December 31, 2025, respectively.

Additional paid-in capital

8 unchanged sentences

COMPREHENSIVE LOSS

Three months ended March 31,

Three months ended June 30,

Six months ended June 30,

(in thousands, except share and per share amounts)

License revenues

10 unchanged sentences

Foreign currency (losses) / gains, net

Other non-operating gains, net

Other non-operating (losses), net

Loss before income tax expense

1 unchanged sentence

Other comprehensive loss:

Foreign currency translation losses, net

Foreign currency translation gains / (losses), net

Total comprehensive loss

3 unchanged sentences

The accompanying notes are an integral part of these unaudited consolidated financial statements .

UNAUDITED CONSOLIDATED STATEMENTS OF SHAREHOLDERS’ EQUITY

FOR THE THREE MONTHS ENDED MARCH 31, 2026 AND 2025

UNAUDITED CONSOLIDATED STATEMENTS OF SHAREHOLDERS’ EQUITY / (DEFICIT)

FOR THE THREE MONTHS ENDED JUNE 30, 2026 AND 2025

Ordinary shares

1 unchanged sentence

shareholders’

gain / (loss)

equity / (deficit)

(in thousands, except share and per share amounts)

Balance at March 31, 2025

( 1,173,602 )

Loss for the period

Other comprehensive loss, net

Exercise of share options

Restricted share units distributed during the period

Share-based compensation expense

Balance at June 30, 2025

( 1,211,321 )

Balance at March 31, 2026

( 1,382,471 )

Loss for the period

Other comprehensive gain, net

Follow-on public offering

Exercises of share options

Restricted share units distributed during the period

Share-based compensation expense

Balance at June 30, 2026

( 1,463,530 )

UNAUDITED CONSOLIDATED STATEMENTS OF SHAREHOLDERS’ EQUITY / (DEFICIT)

FOR THE SIX MONTHS ENDED JUNE 30, 2026 AND 2025

Ordinary shares

comprehensive

shareholders’

equity / (deficit)

(in thousands, except share and per share amounts)

Balance at December 31, 2024

6 unchanged sentences

Share-based compensation expense

Balance at March 31, 2025

Balance at June 30, 2025

( 1,211,321 )

3 unchanged sentences

Other comprehensive loss, net

Follow-on public offering

Exercises of share options

2 unchanged sentences

Share-based compensation expense

Balance at March 31, 2026

Balance at June 30, 2026

( 1,463,530 )

1 unchanged sentence

UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS

Three months ended March 31,

Six months ended June 30,

(in thousands)

17 unchanged sentences

Proceeds on maturity of debt securities

Investment in debt securities

Investments in debt securities

Purchases of property, plant, and equipment

24 unchanged sentences

The Company is registered in the trade register of the Dutch Chamber of Commerce ( Kamer van Koophandel ) in Amsterdam, the Netherlands under number 54385229.

The Company’s headquarters are in Amsterdam, the Netherlands, its registered office is located at Paasheuvelweg 25a, Amsterdam 1105 BP, the Netherlands and its telephone number is +31 20 240 6000.

The Company’s headquarters are in Amsterdam, the Netherlands, its registered office is located at Paasheuvelweg 25, Amsterdam 1105 BP, the Netherlands and its telephone number is +31 20 240 6000.

The Company’s ordinary shares are listed on the Nasdaq Global Select Market and trade under the symbol “QURE”.

8 unchanged sentences

dollars are presented in the transaction currency with the U.S.

dollar amount included in parenthesis, converted at the foreign exchange rate as of the transaction date.

dollar amount included in parentheses, converted at the foreign exchange rate as of the transaction date.

2.2 Unaudited interim financial information

2 unchanged sentences

GAAP have been omitted.

The results of operations for the three months ended March 31, 2026 are not necessarily indicative of the results to be expected for the full year ending December 31, 2026, or for any other future year or interim period.

The results of operations for the three and six months ended June 30, 2026, are not necessarily indicative of the results to be expected for the full year ending December 31, 2026, or for any other future year or interim period.

The accompanying financial statements should be read in conjunction with the audited financial statements and the related notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025 filed by the Company with the SEC on March 2, 2026 (the “Annual Report”).

1 unchanged sentence

The preparation of the financial statements in conformity with U.S.

GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent liabilities at the date of the financial statements and reported amounts of revenues, expenses and tax related items during the reporting period.

GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities;

the disclosure of contingent liabilities at the date of the financial statements;

and the reported amounts of revenues, expenses, and tax-related items during the reporting period.

Actual results could differ from those estimates.

1 unchanged sentence

The principal accounting policies applied in the preparation of these unaudited consolidated financial statements are described in the Company’s audited financial statements as of and for the year ended December 31, 2025, and the notes thereto, which are included in the Annual Report .

There have been no material changes in the Company’s significant accounting policies during the three months ended March 31, 2026.

There have been no material changes in the Company’s significant accounting policies during the six months ended June 30, 2026.

2.5 Recent accounting pronouncements

There have been no new accounting pronouncements or changes to accounting pronouncements during the three months ended March 31, 2026, as compared to the recent accounting pronouncements described in Note 2.3.29 of the Annual Report , which could be expected to materially impact the Company’s unaudited consolidated financial statements.

There have been no new accounting pronouncements or changes to accounting pronouncements during the six months ended June 30, 2026, as compared to the recent accounting pronouncements described in Note 2.3.29 of the Annual Report , which could be expected to materially impact the Company’s unaudited consolidated financial statements.

Current investment securities

The following tables summarize the Company’s investments in government debt securities as of March 31, 2026 and December 31, 2025:

At March 31, 2026

The following tables summarize the Company’s investments in government debt securities as of June 30, 2026 and December 31, 2025:

June 30, 2026

Amortized cost

5 unchanged sentences

Government debt securities (held-to-maturity)

At December 31, 2025

December 31, 2025

Amortized cost

11 unchanged sentences

Inputs to the fair value of the investments are considered Level 2 inputs.

As of March 31, 2026 and December 31, 2025, no expected credit loss was identified with respect to the investment securities.

As of June 30, 2026 and December 31, 2025, no expected credit loss was identified with respect to the investment securities.

Fair value measurement

13 unchanged sentences

Investment securities are measured at amortized cost.

The following table sets forth the Company’s assets and liabilities that are required to be measured at fair value on a recurring basis as of March 31, 2026 and December 31, 2025 :

The following table sets forth the Company’s assets and liabilities that are required to be measured at fair value on a recurring basis as of June 30, 2026 and December 31, 2025 :

Quoted prices

14 unchanged sentences

Total liabilities

Balance at March 31, 2026

Balance at June 30, 2026

Cash and cash equivalents

10 unchanged sentences

a) Contingent consideration

The Company is required to pay up to EUR 143.1 million (or $ 164.5 million based on the foreign exchange rate on March 31, 2026) to the former shareholders of uniQure France SAS (formerly Corlieve Therapeutics SAS) upon the achievement of the remaining contractually defined milestones related to the development of AMT-260 in connection with the Company’s acquisition of uniQure France SAS.

The fair value of the contingent consideration as of March 31, 2026 was EUR 14.8 million ($ 17.0 million) (December 31, 2025:

The Company is required to pay up to EUR 143.1 million (or $ 163.0 million based on the foreign exchange rate on June 30, 2026) to the former shareholders of uniQure France SAS (formerly Corlieve Therapeutics SAS) upon the achievement of the remaining contractually defined milestones related to the development of AMT-260 in connection with the Company’s acquisition of uniQure France SAS.

The fair value of the contingent consideration as of June 30, 2026 was EUR 15.9 million ($ 18.1 million) (December 31, 2025:

EUR 15.9 million ($ 18.7 million)) using discount rates of approximately 10.1 % to 11.8 % (December 31, 2025:

If, as of March 31, 2026, the Company had assumed a 100 % likelihood of AMT-260 advancing into a Phase III clinical study, then the fair value of the contingent consideration would have increased to EUR 47.8 million ($ 55.0 million).

If, as of March 31, 2026, the Company had assumed that it would discontinue development of the AMT-260 program, then the contingent consideration would have been released to income.

The following table presents the changes in fair value of the contingent consideration (presented within non-current liabilities) between December 31, 2025 and March 31, 2026:

If, as of June 30, 2026, the Company had assumed a 100 % likelihood of AMT-260 advancing into a Phase III clinical study, then the fair value of the contingent consideration would have increased to EUR 51.3 million ($ 58.4 million).

If, as of June 30, 2026, the Company had assumed that it would discontinue development of the AMT-260 program, then the contingent consideration would have been released to income.

The following table presents the changes in fair value of the contingent consideration (presented within non-current liabilities) between December 31, 2025 and June 30, 2026:

consideration

1 unchanged sentence

Balance at December 31, 2025

Unrealized change in fair value (presented within Research and development expenses)

Unrealized change in fair value

(presented within Research and development expenses)

Currency translation effects

Balance at March 31, 2026

The Company classified the total contingent consideration liability as non-current as of March 31, 2026 and December 31, 2025.

Balance at June 30, 2026

The Company classified the total contingent consideration liability as non-current as of June 30, 2026 and December 31, 2025.

The classification of the contingent consideration within the Company’s Unaudited Consolidated Balance Sheets between current and non-current liabilities is based upon the Company’s best estimate of the timing of settlement of the remaining relevant milestones.

8 unchanged sentences

Balance at December 31, 2025

Unrealized change in fair value (presented within Other non-operating gains, net)

Unrealized increase in fair value (presented within Other non-operating (losses), net)

Currency translation effects

Balance at March 31, 2026

Balance at June 30, 2026

Accrued expenses and other current liabilities

2 unchanged sentences

Accruals for goods received from and services provided by vendors, not yet billed

Personnel-related accruals and liabilities

Current portion of firm purchase commitment liability (refer to Note 13, "Commitments and contingencies" )

Personnel-related accruals and liabilities (As of June 30, 2026, $ 7.2 million (December 31, 2025:

$ 0.0 million) related to cash proceeds from employees' stock option exercises)

Liability owed to the Purchaser pursuant to the Royalty Financing Agreement (refer to Note 7, " Royalty Financing Agreement ")

Current portion of firm purchase commitment liability (including Genezen CSA termination payment)

Other current liabilities

In April 2026, the Company entered into an agreement to terminate the commercial supply agreement (the “Genezen CSA”) with Genezen MA, Inc.

(together with Genezen Holdings Inc., “Genezen”).

Pursuant to the termination agreement, our obligation to supply HEMGENIX ® and any minimum purchase commitments under the Genezen CSA terminate once contractually specified batches have been supplied.

In connection with the termination, the Company wrote down the remaining carrying value of the intangible asset for the favorable supply terms under the Genezen CSA.

The net effect of these items was recorded in Other expense, and did not have a material impact on the Company’s results of operations for the three and six months ended June 30, 2026.

6 Long-term debt

The total principal outstanding as of March 31, 2026 under the Company's amended venture debt loan facility with Hercules Capital, Inc.

The total principal outstanding as of June 30, 2026 under the Company's amended venture debt loan facility with Hercules Capital, Inc.

(the “2025 Amended Facility”) was $ 50.0 million.

The amortized cost, including interest due presented as part of Accrued expenses and other current liabilities, was $ 50.3 million as of March 31, 2026, compared to $ 50.1 million as of December 31, 2025, and is recorded net of discount and debt issuance costs.

The foreign currency loss on the loan facility in the three months ended March 31, 2026 was $ 1.1 million, compared to a foreign currency gain of $ 2.1 million during the same period in 2025.

Interest expense during the three months ended March 31, 2026 was $ 1.4 million, compared to $ 1.8 million during the same period in 2025.

During the three months ended March 31, 2026, there were no material changes to the terms, available borrowing tranches, covenants, or collateral arrangements of the 2025 Amended Facility as described in Note 11, “Long-term debt” to the consolidated financial statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025.

As of March 31, 2026, the Company was in compliance with all applicable covenants under the facility.

The amortized cost, including interest due presented as part of Accrued expenses and other current liabilities, was $ 50.5 million as of June 30, 2026, compared to $ 50.1 million as of December 31, 2025, and is recorded net of discount and debt issuance costs.

The foreign currency loss on the loan facility in the three and six months ended June 30, 2026 was $ 0.5 million and $ 1.6 million, respectively, compared to a foreign currency gain of $ 4.3 million and $ 6.4 million, respectively, during the same periods in 2025.

Interest expense during the three and six months ended June 30, 2026 was $ 1.4 million and $ 2.8 million, respectively, compared to $ 1.8 million and $ 3.6 million, respectively, during the same periods in 2025.

During the six months ended June 30, 2026, there were no material changes to the terms, available borrowing tranches, covenants, or collateral arrangements of the 2025 Amended Facility as described in Note 11, “ Long-term debt ” to the consolidated financial statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025.

As of June 30, 2026, the Company was in compliance with all applicable covenants under the facility.

In July 2026, subsequent to the balance sheet date, the Company entered into an amendment to its loan facility with Hercules Capital, Inc.

(as amended, the “2026 Amended Facility”).

The amendment extended the period during which the Company may draw the $ 100.0 million term loan tranche from June 15, 2027 to September 30, 2027.

Except as provided for in the amendment, the terms of borrowing under the 2026 Amended Facility remained unchanged.

7 Royalty Financing Agreement

During the three months ended March 31, 2026, there were no material changes to the terms of the royalty purchase agreement entered into in May 2023 (the “Royalty Financing Agreement”) with HemB SPV, L.P.

During the six months ended June 30, 2026, there were no material changes to the terms of the royalty purchase agreement entered into in May 2023 (the “Royalty Financing Agreement”) with HemB SPV, L.P.

(the “Purchaser”), as described in Note 12, “ Royalty Financing Agreement ” within the consolidated financial statements included in the Company’s Annual Report for the year ended December 31, 2025.

The following table presents the changes in the liability from royalty financing agreement for the period from December 31, 2025 to March 31, 2026:

The following table presents the changes in the liability from the Royalty Financing Agreement for the period from December 31, 2025 to June 30, 2026:

Amount of liability

3 unchanged sentences

Interest expense for the period

Balance as of March 31, 2026 (includes $ 3.6 million presented as "Accrued expenses and other current liabilities")

The Company records the debt at amortized cost using the effective interest rate method based on projected cash flows.

As of March 31, 2026, the effective interest rate is expected to be within a range of 10.5 % to 12.0 % per annum (March 31, 2025:

Balance as of June 30, 2026 (includes $ 5.8 million presented as "Accrued expenses and other current liabilities")

The Company records the debt at amortized cost using the effective interest method based on projected cash flows.

As of June 30, 2026, the effective interest rate is expected to be within a range of 10.0 % to 11.5 % per annum (June 30, 2025:

12.0 % to 13.5 %).

Interest expense recorded in connection with the agreement was $ 12.6 million and $ 13.3 million for the three months ended March 31, 2026 and 2025, respectively.

Interest expense recorded in connection with the Royalty Financing Agreement was $ 13.0 million and $ 13.8 million for the three months ended June 30, 2026 and 2025, respectively, and $ 25.6 million and $ 27.1 million for the six months ended June 30, 2026 and 2025, respectively.

8 Shareholders’ equity

In June 2026, the Company received net proceeds of $ 242.7 million, after deducting underwriting discounts and commissions and other offering expenses payable by the Company, through a follow-on public offering of 5.7 million ordinary shares, at a public offering price of $ 45.50 per ordinary share.

In June 2026, the Company's shareholders approved an amendment to the Articles of Association increasing the Company's authorized share capital from 80.0 million ordinary shares to 100.0 million ordinary shares with a nominal value of € 0.05 per share.

9 Share-based compensation

The Company’s share-based compensation plans include the amended and restated 2014 Share Incentive Plan (as amended, the “2014 Plan”) and inducement grants under Rule 5653(c)(4) of the Nasdaq Global Select Market with terms similar to the 2014 Plan (together the “2014 Plans”).

As of March 31, 2026, a total of 2,571,395 ordinary shares remain available for issuance under the 2014 Plan.

At the annual general meeting of shareholders in June 2026, the Company’s shareholders authorized an additional 350,000 ordinary shares for issuance under the 2014 Plan.

As of June 30, 2026, a total of 2,815,628 ordinary shares remain available for issuance under the 2014 Plan.

In June 2018, the Company’s shareholders adopted and approved the uniQure N.V.

6 unchanged sentences

Share-based compensation expense recognized by classification included in the Unaudited Consolidated Statements of Operations and Comprehensive Loss in relation to the 2014 Plans and the ESPP for the periods indicated below was as follows:

Three months ended March 31,

Three months ended June 30,

Six months ended June 30,

(in thousands)

Research and development expenses

1 unchanged sentence

Share-based compensation expense recognized by award type for the 2014 Plans as well as the ESPP was as follows:

Three months ended March 31,

Three months ended June 30,

Six months ended June 30,

(in thousands)

Award type/ESPP

2 unchanged sentences

Performance share units

As of March 31, 2026, the unrecognized share-based compensation expense related to unvested awards under the 2014 Plans were:

As of June 30, 2026, the unrecognized share-based compensation expense related to unvested awards under the 2014 Plans was:

Weighted average

9 unchanged sentences

Any options that vest must be exercised by the tenth anniversary of the initial grant date.

The following table summarizes option activity under the 2014 Plans for the three months ended March 31, 2026:

The following table summarizes option activity under the 2014 Plans for the six months ended June 30, 2026:

Number of ordinary shares

1 unchanged sentence

Outstanding at December 31, 2025

Outstanding at March 31, 2026

Thereof, fully vested, and exercisable on March 31, 2026

Thereof, outstanding and expected to vest after March 31, 2026

Outstanding at June 30, 2026

Thereof, fully vested, and exercisable on June 30, 2026

Thereof, outstanding and expected to vest after June 30, 2026

Outstanding and expected to vest after December 31, 2025

1 unchanged sentence

The fair value of each option issued is estimated at the respective grant date using the Hull & White option pricing model with the following weighted-average assumptions:

Three months ended March 31,

Three months ended June 30,

Six months ended June 30,

Expected volatility

2 unchanged sentences

4.21 % - 4.68 %

4.36 % - 4.64 %

Expected dividend yield

The following table summarizes the RSU activity for the three months ended March 31, 2026:

The following table summarizes the RSU activity for the six months ended June 30, 2026:

Weighted average

2 unchanged sentences

Non-vested at December 31, 2025

Non-vested at March 31, 2026

Non-vested at June 30, 2026

Total weighted average grant date fair value of RSUs granted during the period (in $ millions)

1 unchanged sentence

RSUs granted to non-executive directors vest one year after the date of grant.

The Company granted PSUs to certain employees in 2024 and 2026, that, with respect to the 2024 PSUs, will be earned upon the Board of Directors’ assessment of the level of achievement of agreed upon performance targets, and, with respect to the 2026 PSUs, will be earned upon management’s assessment of the level of achievement of agreed upon performance targets, subject, in each case, to the grantee’s continued employment.

The Company granted PSUs to certain employees in 2024 and 2026, that, with respect to the 2024 PSUs, would have been earned upon the Board of Directors’ assessment of the level of achievement of an agreed upon performance target, and, with respect to the 2026 PSUs, will be earned upon Company management’s assessment of the level of achievement of agreed upon performance targets, subject, in each case, to the grantee’s continued employment.

The fair value of PSUs granted in 2024 and 2026 was determined on the grant date by reference to the market price of the Company’s ordinary shares.

The Company recognizes the compensation cost related to these grants to the extent it considers achievement of the milestones to be probable.

As of March 31, 2026, the PSUs granted in 2026 were assessed as not probable of achieving the requisite performance conditions in accordance with ASC 718, Compensation-Stock Compensation ;

therefore, no stock-based compensation expense has been recognized.

The following table summarizes the PSU activity for the three months ended March 31, 2026:

As of June 30, 2026, certain 2026 PSUs were assessed as probable of achieving the requisite performance condition.

As of June 30, 2026, the Company determined that the performance target for the outstanding 2024 PSUs were not met within the contractually defined performance period and were consequently forfeited.

The following table summarizes the PSU activity for the six months ended June 30, 2026:

Weighted average

2 unchanged sentences

Non-vested at December 31, 2025

Non-vested at March 31, 2026

During the three months ended March 31, 2026, 13,939 ordinary shares were issued under the ESPP compared to nil ordinary shares issued during the same period in 2025.

As of March 31, 2026, 72,773 ordinary shares remain available for issuance under the ESPP compared to a total of 86,712 ordinary shares as of March 31, 2025.

Non-vested at June 30, 2026

During the six months ended June 30, 2026, 13,939 ordinary shares were issued under the ESPP compared to nil ordinary shares issued during the same period in 2025.

As of June 30, 2026, 72,773 ordinary shares remain available for issuance under the ESPP compared to a total of 86,712 ordinary shares as of June 30, 2025.

Segment reporting

5 unchanged sentences

The accounting policies of the operating segment are the same as those described in the summary of significant accounting policies.

Three months ended March 31,

Three months ended June 30,

Six months ended June 30,

(in thousands)

Employee related expenses

8 unchanged sentences

Share-based compensation expense

Fair value gain / (loss) - contingent consideration

Fair value gain - liability related to pre-funded warrants

Fair value (loss) / gain - contingent consideration

Fair value loss - Liability related to pre-funded warrants

Foreign currency (losses) / gains, net

5 unchanged sentences

(1) Other segment items included in segment operating loss include costs related to intellectual property and insurance offset by income related to payments received from European authorities to subsidize the Company’s research and development in the Netherlands .

(2) The comparative amounts for the three and six months ended June 30, 2025 have been adjusted to reflect the level of detail at which the CODM reviews segment operating expenses in 2026, with information technology system costs presented as a separate line item and consumables included within other segment items for all periods presented.

Other investments and concentration of credit risk

The following table summarizes the Company’s other investments as of March 31, 2026 and December 31, 2025:

The following table summarizes the Company’s other investments as of June 30, 2026 and December 31, 2025:

(in thousands)

Carrying amount of investments valued under measurement alternative

Carrying amount of equity investments

Convertible note receivable

The Company did not recognize any upward adjustments, downward adjustments, or impairments relating to investments carried under the measurement alternative during the three months ended March 31, 2026, and 2025.

In 2024, as part of the Company’s divestment of its commercial manufacturing operations to Genezen Holdings Inc.

and its subsidiary Genezen MA, Inc.

(together “Genezen”), the Company entered into a commercial supply agreement (the “Genezen CSA”), as well as a development and other manufacturing agreement, with Genezen.

The Company recorded a balance of prepaid expenses of $ 12.3 million and $ 13.9 million as of March 31, 2026 and December 31, 2025, respectively, for services that the Company expects to receive from Genezen.

In addition, as of March 31, 2026, the Company holds a convertible note receivable of $ 14.9 million which is due in September 2029 and for which Genezen is the counterparty (December 31, 2025:

The Company holds investments in non-publicly traded equity securities without readily determinable fair values.

These investments are accounted for at cost, less impairment and adjusted to fair value if there are observable price changes in orderly transactions for identical or similar investments using the measurement alternative in accordance with ASC 321, Investments – Equity Securities .

The carrying value of these investments as of June 30, 2026 and December 31, 2025 was $ 15.1 million and $ 15.6 million, respectively, and are presented within Other Investments in the Company’s Consolidated Balance Sheets.

In 2024, as part of the Company’s divestment of its commercial manufacturing operations to Genezen, the Company entered into various service agreements including the Genezen CSA.

In April 2026, the Company entered into an agreement to terminate the Genezen CSA.

Pursuant to the termination agreement, the Company’s obligation to supply HEMGENIX ® and any minimum purchase commitments under the Genezen CSA terminate once contractually specified batches have been supplied.

The Company’s prepayments for services to be received amounted to $ 5.7 million as of June 30, 2026, compared to $ 13.9 million as of December 31, 2025.

In addition, as of June 30, 2026, the Company holds a convertible note receivable of $ 15.1 million which is due in September 2029 and for which Genezen is the counterparty (December 31, 2025:

$ 14.6 million).

These balances represent a concentration of credit risk, and the Company’s maximum exposure to loss is the carrying value of these assets.

No expected credit losses were recognized during the three months ended March 31, 2026 or 2025.

As of March 31, 2026 and December 31, 2025, accounts receivable from CSL Behring LLC (“CSL Behring”) totaled $ 3.6 million and $ 5.9 million, respectively, in each case related to royalty revenue.

The Company recorded a deferred tax expense of $ 0.5 million related to its U.S.

operations during the three months ended March 31, 2026 ($ 0.5 million for the three months ended March 31, 2025).

The effective income tax rate of 0.9 % during the three months ended March 31, 2026 (three months ended March 31, 2025:

1.1 %) is substantially lower than the enacted rate of 25.8 % in the Netherlands as the Company recorded a valuation allowance against its net deferred tax assets in the Netherlands and a partial valuation allowance against its net deferred tax assets in France.

No expected credit losses were recognized during the three and six months ended June 30, 2026 or 2025.

As of June 30, 2026 and December 31, 2025, accounts receivable from CSL Behring LLC (“CSL Behring”) totaled $ 5.8 million and $ 5.9 million, respectively, in each case related to royalty revenue which is included in License Revenue in the accompanying statements of operations and comprehensive loss.

The Company recorded a deferred tax expense of $ 1.8 million and $ 2.3 million related to its U.S.

operations during the three and six months ended June 30, 2026 ($ 0.4 million and $ 0.9 million for the three and six months ended June 30, 2025).

The effective income tax rate of 2.3 % and 1.8 % during the three and six months ended June 30, 2026 (three and six months ended June 30, 2025:

1.1 % and 1.1 %, respectively) is substantially lower than the enacted rate of 25.8 % in the Netherlands as the Company recorded a valuation allowance against its net deferred tax assets in the Netherlands and a partial valuation allowance against its net deferred tax assets in France, among various other items which impacted the effective rate.

13 Basic and diluted loss per share

Diluted loss per ordinary share is calculated by adjusting the weighted average number of ordinary shares outstanding, assuming conversion of all potentially dilutive ordinary shares.

As the Company incurred a loss in the three months ended March 31, 2026 and March 31, 2025, all potentially dilutive ordinary shares would have an antidilutive effect, if converted, and thus have been excluded from the computation of diluted loss per share for the three months ended March 31, 2026 and March 31, 2025.

The ordinary shares are presented without giving effect to the application of the treasury method or exercise prices that would be above the share price as of March 31, 2026 and March 31, 2025, respectively.

As the Company incurred a loss in the three and six months ended June 30, 2026, all potentially dilutive ordinary shares would have an antidilutive effect, if converted, and thus have been excluded from the computation of diluted loss per share for the three and six months ended June 30, 2026.

The ordinary shares are presented without giving effect to the application of the treasury method or exercise prices that would be above the share price as of June 30, 2026 and June 30, 2025, respectively.

The potentially dilutive ordinary shares are summarized below:

Three months ended June 30,

Six months ended June 30,

Anti-dilutive ordinary share equivalents

8 unchanged sentences

The Company also has obligations to make future payments that become due and payable upon the collection of milestone payments from CSL Behring.

The achievement and timing of these milestones is not fixed or determinable.

As of March 31, 2026, the remaining minimum purchase commitments in connection with the Genezen CSA amount to $ 16.2 million, with $ 13.3 million to be paid within the next 12 months.

As of March 31, 2026, CSL Behring’s minimum purchase commitments to the Company over the next 12 months, in connection with the development and commercial supply agreement between the Company and CSL Behring (the “CSL Behring CSA”), amount to $ 16.4 million, of which $ 16.2 million relates to such minimum purchase commitments to Genezen.

In April 2026, the Company entered into agreements with Genezen and CSL Behring to terminate the Genezen CSA and the CSL Behring CSA.

Refer to Note 14, “ Subsequent events” .

The achievement and timing of these milestones are not fixed or determinable.

Legal Proceedings

1 unchanged sentence

uniQure N.V., et al.

1:26-cv-01124, was filed against the Company, certain of its executive officers and another party in the United States District Court for the Southern District of New York.

The complaint purports to assert claims pursuant to Sections 10(b) and 20(a) of the Securities Exchange Act of 1934, as amended, and Rule 10b-5 promulgated thereunder, on behalf of a putative class of investors who purchased or otherwise acquired the Company’s ordinary shares between September 24, 2025 and October 31, 2025.

Plaintiff seeks to recover damages allegedly caused by purported false and misleading statements and omissions with respect to the Company’s Phase I/II study of AMT-130 and the timing of the potential BLA filing for AMT-130.

The Company intends to vigorously defend against the claims in this action.

1:26-cv-01124, was filed against the Company, certain of its executive officers and another party (collectively, “Defendants”) in the United States District Court for the Southern District of New York.

The complaint purported to assert claims pursuant to Sections 10(b) and 20(a) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and Rule 10b-5 promulgated thereunder, on behalf of a putative class of investors who purchased or otherwise acquired the Company’s ordinary shares between September 24, 2025 and October 31, 2025 (the “putative Class Period”).

The plaintiff sought to recover damages allegedly caused by purported false and misleading statements and omissions with respect to the Company’s Phase I/II study of AMT-130 and the timing of the potential Biologics License Application filing for AMT-130.

On April 13, 2026, the court appointed the Oklahoma Firefighters Pension and Retirement System as lead plaintiff (the “Lead Plaintiff”).

On July 15, 2026, the Lead Plaintiff filed an amended complaint.

Like the earlier-filed complaint, the amended complaint purports to assert claims pursuant to Sections 10(b) and 20(a) of the Exchange Act and Rule 10b-5, on behalf of a putative class of investors who purchased or otherwise acquired the Company’s ordinary shares during the putative Class Period.

Lead Plaintiff seeks unspecified damages allegedly caused by purported false and misleading statements and omissions with respect to the import and viability of data from the Company’s Phase I/II study of AMT-130 and available pathways to regulatory approval.

Defendants’ motion to dismiss the amended complaint is currently due September 14, 2026.

Management intends to vigorously defend against the claims in this action.

At each reporting date, the Company evaluates whether or not a potential loss amount or a potential range of loss is probable and reasonably estimable under the provisions of the authoritative guidance that addresses accounting for contingencies.

At this time, the Company is unable to predict the outcome of the class action litigation or reasonably estimate a range of possible losses.

The Company has not recorded any liability for any portion of this matter because the Company believes that liability is not probable and reasonably estimable at this time.

15 Subsequent events

Termination agreements with CSL Behring and Genezen

Since the Company’s July 2024 divestiture of its commercial manufacturing activities to Genezen, the Company had been sourcing etranacogene dezaparvovec-drlb (“HEMGENIX ® ”) under the Genezen CSA.

The Company entered into the Genezen CSA to enable it to meet its obligations to supply HEMGENIX ® in accordance with the June 2020 commercialization and license agreement with CSL Behring (the “CSL Behring Agreement”) (refer to Note 10, “ Other Investments and concentration of credit risk ,” and Note 13, “ Commitments and contingencies ”) until such time that the HEMGENIX ® manufacturing technology had been transferred to CSL Behring or a contract manufacturing organization designated by CSL Behring.

The Company, since July 2024, had served as an agent in the sale of HEMGENIX ® to CSL Behring as title to HEMGENIX ® drug product supply had been directly passing from Genezen to CSL Behring.

In April 2026, the Company entered into agreements with CSL Behring and Genezen that provide for i) the termination of its obligation to supply HEMGENIX ® and any minimum purchase commitments under the Genezen CSA, once the contractually specified batches have been supplied to CSL Behring, which the Company expects to occur in mid-2026, and ii) the designation of Genezen as CSL Behring’s contract manufacturing organization.

In addition, the CSL Behring Agreement was amended to terminate certain manufacturing-related terms associated with both the CSL Behring CSA and the Genezen CSA, as well as the Company’s development support that CSL Behring could request from time to time with respect to HEMGENIX ® .

All other terms of the CSL Behring Agreement remain in full force and effect.

The Company expects that by the time the contractually specified batches have been supplied to CSL Behring, it will i) have fully amortized the carrying amount of the intangible asset recorded with respect to the favorable supply terms under the Genezen CSA of $ 7.3 million as of March 31, 2026, and ii) have fully released the firm purchase commitment liability with a March 31, 2026 carrying amount of $ 5.8 million.

In July 2026, subsequent to the balance sheet date, the Company entered into an amendment to its loan facility with Hercules Capital, Inc.

(as amended, the “2026 Amended Facility”).

The amendment extended the period during which the Company may draw the $ 100.0 million term loan tranche from June 15, 2027 to September 30, 2027.

Except as provided for in the amendment, the terms of borrowing under the 2026 Amended Facility remained unchanged.

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-Q

Item 1. Financial Statements