0000950170-23-010352 | 20-F | XBRL Viewer

As of December 31,

in CHF thousands

Cash and cash equivalent

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Document And Entity Information	12 Months Ended
Document And Entity Information	Dec. 31, 2022 shares
Document Information [Line Items]
Document Type	20-F
Amendment Flag	false
Document Period End Date	Dec. 31, 2022
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	FY
Entity Registrant Name	OCULIS HOLDING AG
Entity Central Index Key	0001953530
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	No
Entity Current Reporting Status	No
Entity Incorporation, State or Country Code	V8
Entity Voluntary Filers	No
Entity Filer Category	Non-accelerated Filer
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Shell Company	false
Entity Interactive Data Current	Yes
Entity File Number	001-41636
Entity Address, Address Line One	Bahnhofstrasse 7
Entity Address, City or Town	Zug
Entity Address, Postal Zip Code	6300
Entity Address, Country	CH
Document Annual Report	true
Document Transition Report	false
Document Registration Statement	false
Document Shell Company Report	false
ICFR Auditor Attestation Flag	false
Document Accounting Standard	International Financial Reporting Standards
Auditor Firm ID	1358
Auditor Name	PricewaterhouseCoopers SA
Auditor Location	Lausanne, Switzerland
Ordinary Shares
Document Information [Line Items]
Title of 12(b) Security	Ordinary Shares
Trading Symbol	OCS
Security Exchange Name	NASDAQ
Entity Common Stock, Shares Outstanding	32,733,373
Warrants
Document Information [Line Items]
Title of 12(b) Security	Warrants
Trading Symbol	OCSAW
Security Exchange Name	NASDAQ
Entity Common Stock, Shares Outstanding	4,403,294
Business Contact
Document Information [Line Items]
Entity Address, Address Line One	EPFL Innovation Park
Entity Address, City or Town	Lausanne
Entity Address, Postal Zip Code	1015
City Area Code	+41
Local Phone Number	21-711-3970
Entity Address, Country	CH
Contact Personnel Name	Riad Sherif, MD

Consolidated Statements of Loss - CHF (SFr) SFr in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Profit or loss [abstract]
Grant income	SFr 912	SFr 960	SFr 993
Operating income	912	960	993
Research and development expenses	(22,224)	(9,568)	(9,337)
General and administrative expenses	(11,064)	(4,624)	(3,992)
Operating expenses	(33,288)	(14,192)	(13,329)
Operating loss	(32,376)	(13,232)	(12,336)
Finance income	126	21	10
Finance expense	(6,442)	(5,120)	(2,628)
Exchange differences	49	(193)	163
Finance result, net	(6,267)	(5,292)	(2,455)
Loss before tax for the period	(38,643)	(18,524)	(14,790)
Income tax expense	(55)	(27)	(83)
Loss for the period	SFr (38,698)	SFr (18,552)	SFr (14,873)
Loss per share [abstract]
Basic, loss for the period attributable to equity holders	SFr (12.94)	SFr (6.68)	SFr (5.77)
Diluted, loss for the period attributable to equity holders	SFr (12.94)	SFr (6.68)	SFr (5.77)

Consolidated Statements of Comprehensive Loss - CHF (SFr) SFr in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Statement of comprehensive income [abstract]
Loss for the period	SFr (38,698)	SFr (18,552)	SFr (14,873)
Items that will not be reclassified to profit or loss
Actuarial gains/(losses) of defined benefit plans	744	88	(115)
Items that may be reclassified subsequently to profit or loss
Currency translation differences	3	(28)	28
Other comprehensive profit/(loss) for the period	747	60	(87)
Total comprehensive loss for the period	SFr (37,951)	SFr (18,492)	SFr (14,960)

- Definition

The amount of change in equity resulting from transactions and other events, other than those changes resulting from transactions with owners in their capacity as owners.

+ References + Details

- Definition

The total of income less expenses from continuing and discontinued operations, excluding the components of other comprehensive income. [Refer: Other comprehensive income]

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2003/role/exampleRef
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-IssueDate 2022-03-24
-Paragraph 113
-Subparagraph b
-URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=17&code=ifrs-tx-2022-en-r&anchor=para_113_b&doctype=Standard
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+ Details

Consolidated Statements of Financial Position - CHF (SFr) SFr in Thousands	Dec. 31, 2022	Dec. 31, 2021
Non-current assets
Property, plant & equipment	SFr 365	SFr 431
Intangible assets	12,206	8,724
Right-of-use assets	758	855
Financial assets	50	52
Deferred income tax assets	24
Total non-current assets	13,403	10,062
Current assets
Other current assets	2,959	944
Accrued income	912	760
Cash and cash equivalents	19,786	46,277
Total current assets	23,657	47,981
TOTAL ASSETS	37,060	58,043
Equity attributable to equity holders of the parent
Share capital	340	335
Share premium	10,540	10,434
Reserve for share-based payment	2,771	1,967
Actuarial loss on post employment benefit obligations	(264)	(1,008)
Treasury shares	(100)	(100)
Cumulative translation adjustments	(300)	(303)
Accumulated losses	(110,978)	(72,280)
Total Equity	(97,991)	(60,955)
Non-current liabilities
Long-term lease liabilities	491	577
Long-term financial debt	122,449	113,502
Defined benefit pension liabilities	91	845
Deferred income tax liabilities		11
Total non-current liabilities	123,031	114,936
Current liabilities
Trade payables	3,867	824
Accrued expenses and other payables	8,011	3,045
Short-term lease liabilities	142	193
Total current liabilities	12,020	4,062
Total Liabilities	135,051	118,998
TOTAL EQUITY AND LIABILITIES	SFr 37,060	SFr 58,043

Consolidated Statements of Changes in Equity - CHF (SFr) SFr in Thousands	Total	Share capital	Share premium	Reserve for share-based payment	Treasury Shares	Cumulative translation adjustments	Actuarial gain / (loss) on post-employment benefit obligations	Accumulated losses
Beginning balance at Dec. 31, 2019	SFr (29,163)	SFr 289	SFr 9,476	SFr 1,312	SFr (100)	SFr (303)	SFr (981)	SFr (38,855)
Loss for the period	(14,873)							(14,873)
Other comprehensive profit (loss):
Actuarial gain (loss) on post-employment benefit obligations	(115)						(115)
Currency translation differences	28					28
Sub-total other comprehensive profit (loss) for the period	(87)					28	(115)
Total comprehensive loss for the period	(14,960)					28	(115)	(14,873)
Share based payment	328			328
Restricted shares awards	157	8	149
Transaction costs	(15)		(15)
Ending balance at Dec. 31, 2020	(43,654)	297	9,609	1,640	(100)	(275)	(1,096)	(53,728)
Loss for the period	(18,552)							(18,552)
Other comprehensive profit (loss):
Actuarial gain (loss) on post-employment benefit obligations	88						88
Currency translation differences	(28)					(28)
Sub-total other comprehensive profit (loss) for the period	60					(28)	88
Total comprehensive loss for the period	(18,492)					(28)	88	(18,552)
Share based payment	328			328
Restricted shares awards	876	39	837
Transaction costs	(12)		(12)
Ending balance at Dec. 31, 2021	(60,955)	335	10,434	1,967	(100)	(303)	(1,008)	(72,280)
Loss for the period	(38,698)							(38,698)
Other comprehensive profit (loss):
Actuarial gain (loss) on post-employment benefit obligations	744						744
Currency translation differences	3					3
Sub-total other comprehensive profit (loss) for the period	747					3	744
Total comprehensive loss for the period	(37,951)					3	744	(38,698)
Share based payment	804			804
Transaction costs	(9)		(9)
Stock options exercised	120	5	115
Ending balance at Dec. 31, 2022	SFr (97,991)	SFr 340	SFr 10,540	SFr 2,771	SFr (100)	SFr (300)	SFr (264)	SFr (110,978)

Consolidated Statements of Cash Flows - CHF (SFr) SFr in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Operating activities
Loss before tax	SFr (38,643)	SFr (18,524)	SFr (14,790)
Non cash adjustments:
- Net financial result	(500)	53	(155)
- Depreciation of property, plant and equipment	132	88	104
- Depreciation of right-of-use assets	167	147	124
- Recognized expense for stock option plan	804	328	328
- Payroll expenses related to restricted stock		876	157
- Interest expense on Series B & C preferred shares	6,343	4,996	2,560
- Interests on lease liabilities	45	49	50
- Post-employment benefits	(9)	(139)	77
- Non-realized foreign exchange differences	583	(792)	28
Working capital adjustments:
- De/(Increase) in other current assets	(1,796)	(731)	169
- De/(Increase) in accrued income	(152)	233	230
- Changes in receivables/payables from/to related parties		29	10
- (De)/Increase in trade payables	3,043	30	(649)
- (De)/Increase in accrued expenses and other payables	4,903	(352)	(211)
Interest received	126
Interest paid	(100)	(116)	(58)
Taxes paid	(20)
Net cash flows used in operating activities	(25,074)	(13,825)	(12,029)
Investing activities
Payment for purchase of property, plant and equipment	(65)	(28)	(19)
Payment for purchase of intangible assets	(3,483)
Net cash used in investing activities	(3,548)	(28)	(19)
Financing activities
Transaction costs	(63)	(804)	(67)
Transactions costs related to the BCA	(214)
Proceeds from capital increase	120
Proceeds from issuance of preferred shares, classified as liabilities	2,030	56,096	5,025
Principal payment of lease obligation	(159)	(98)	(98)
Net cash from financing activities	1,714	55,194	4,859
(De)/Increase in cash and cash equivalents	(26,909)	41,341	(7,189)
Cash and cash equivalents, beginning of period	46,277	4,952	12,152
Exchange difference	418	(15)	(12)
Cash and cash equivalents, end of period	19,786	46,277	4,952
Net cash and cash equivalents variation	(26,909)	SFr 41,341	SFr (7,189)
Supplemental Non-Cash Financing Information
Transaction costs related to the BCA recorded in accrued expenses and other payables/trade payables	SFr 356

Corporate Information

12 Months Ended

Dec. 31, 2022

Corporate Information [Abstract]

Corporate Information

CORPORATE INFORMATION

Oculis SA (“Oculis”, the “Group”, or the “Company”) is a limited company (société anonyme) with registered office at EPFL Innovation Park, c/o Bâtiment D, 1015 Lausanne, Ecublens, Switzerland and its shares are not publicly traded. It was established on December 11, 2017.

The Company controls four wholly owned subsidiaries: Oculis ehf ("Oculis Iceland"), which was incorporated in Reykjavik, Iceland on October 28, 2003, Oculis France SARL ("Oculis France") which was incorporated in Paris, France on March 27, 2020, Oculis US Inc. ("Oculis US") which was incorporated in Delaware, USA, on May 26, 2020, and Oculis HK, Limited ("Oculis HK") which was incorporated in Hong Kong, China on June 1, 2021. The Company and its subsidiaries form the Oculis Group (the “Group”).

The purpose of the Company is the research, study, development, manufacture, promotion, sale and marketing of pharmaceutical products and substances as well as the purchase, sale and exploitation of intellectual property rights, such as patents and licenses, in this field. More precisely, Oculis is a global biopharmaceutical company developing treatments to save sight and improve eye care with breakthrough innovations. The Company’s differentiated pipeline includes candidates for topical retinal treatments, topical biologics and disease modifying treatments.

The consolidated financial statements of Oculis as of and for the year ended December 31, 2022, were approved and authorized for issue by the Company's Board of Directors on March 28, 2023.

Basis of Preparation And Changes to the Group's Accounting Policies

12 Months Ended

Dec. 31, 2022

Disclosure Of Basis Of Preparation And Changes To Group Accounting Policies [Abstract]

Basis of Preparation and Changes to the Group's Accounting Policies

BASIS OF PREPARATION AND CHANGES TO THE GROUP'S ACCOUNTING POLICIES

(A)

Going concern

The Group's accounts are prepared on a going concern basis. To date, the Group has financed its cash requirements primarily from share issuances, as well as government research and development grants. The recent business combination with European Biotech Acquisition Corp. (“EBAC”) and the listing in NASDAQ early in March 2023 raised additional funding to secure business continuity as explained under note 2. (E). The Board of Directors believes that the Group has the ability to meet its financial obligations for at least the next 12 months.

The Company is a clinical stage company and is exposed to all the risks inherent to establishing a business. Inherent to the Company’s business are various risks and uncertainties, including the substantial uncertainty as to whether current projects will succeed. The Company’s success may depend in part upon its ability to (i) establish and maintain a strong patent position and protection, (ii) enter into collaborations with partners in the biotech and pharmaceutical industry, (iii) successfully move its product candidates through clinical development, and (iv) attract and retain key personnel. The Company’s success is subject to its ability to be able to raise capital to support its operations. To date, the Company has financed its cash requirements primarily through share issuances and grant income. Shareholders should note that the long-term viability of the Company is dependent on its ability to raise additional capital to finance its future operations. The Company will continue to evaluate additional funding through public or private financings, debt financing or collaboration agreements. The Company cannot be certain that additional funding will be available on acceptable terms, or at all. If the Company is unable to raise additional capital when required or on acceptable terms, it may have to (i) significantly delay, scale back or discontinue the development of one or more product candidates; (ii) seek collaborators for product candidates at an earlier stage than otherwise would be desirable and on terms that are less favorable than might otherwise be available; or (iii) relinquish or otherwise dispose of rights to product candidates that the Company would otherwise seek to develop itself, on unfavorable terms.

The conflict between Russia and Ukraine has caused major macroeconomic disruptions that have impacted the global trade and economies. As such increasing inflation around the globe has forced national banks to increase their interest rates, consequently impacting interest yields around the globe. The Group has assessed the impact of these measures and concluded that this impacted primarily the estimates in relation to the pension plan obligations, as noted below under 4. (C). As of today, no further material impact has been identified on the Group’s business nor its ability to continue as a going concern.

(B)

Statement of compliance

The consolidated financial statements of Oculis SA are prepared in accordance with International Financial Reporting Standards ("IFRS") as issued by the International Accounting Standards Board (“IASB”).

(C)

Basis of measurement

The policies set out below are consistently applied to all the years presented. The consolidated financial statements have been prepared under the historical cost convention.

The totals are calculated with the original unit amounts, which could lead to rounding differences. These differences in thousands of units are not changed in order to keep the accuracy of the original data.

(D)

Functional currency

The consolidated financial statements of the Group are expressed in CHF, which is the Company's functional and the Group's presentation currency. The functional currency of the Company and Oculis Iceland is CHF. The functional currency of Oculis France is EUR, of Oculis US is USD and of Oculis Hong Kong is HKD.

Assets and liabilities of foreign operations are translated into CHF at the rate of exchange prevailing at the reporting date and their statements of profit or loss are translated at yearly average exchange rates. The exchange differences arising on translation for consolidation are recognized in other comprehensive income.

(E)

Business Combination Agreement

On October 17, 2022, Oculis SA entered into a Business Combination Agreement (“BCA”) with European Biotech Acquisition Corp., a NASDAQ listed blank check company incorporated in Cayman Islands as an exempted company (“EBAC”). This merger and subsequent listing in NASDAQ provides the Company with additional funding from EBAC’s Trust fund, additional subscription agreements from private investments by third-party investors (the “PIPE”) and conversion of Convertible Loan Agreements (the “CLAs”).

As of December 31, 2022, the Company has capitalized CHF 0.6 million of transactions costs linked to the BCA transaction within Other current assets that met the following criteria: 1) directly attributable to the issue of equity instruments, 2) incurred after BCA agreement signature, at which date the transaction was considered highly probable and finally, 3) related to newly issued shares (incremental costs). The paid portion of transaction costs for an amount of CHF 0.2 million was also reflected in the financing activities of the Consolidated Statements of Cash flows. For further details about the closing of the BCA transaction, refer to note 22.

Summary of Significant Accounting Policies

12 Months Ended

Dec. 31, 2022

Disclosure Of Summary Of Significant Accounting Policies [Abstract]

Summary of Significant Accounting Policies

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

The principal accounting policies adopted in the preparation of these financial statements are set out below. The policies set out below are consistently applied to all the years presented, unless otherwise stated.

(A)

Current vs. non-current classification

The Company presents assets and liabilities in the balance sheet based on current/non-current classification. The Company classifies all amounts to be realized or settled within 12 months after the reporting period to be current and all other amounts to be non-current.

(B)

Foreign currency transactions

Foreign currency transactions are translated into the functional currency Swiss Francs (CHF) using prevailing exchange rates at the dates of the transactions. Monetary assets and liabilities denominated in foreign currencies are translated into CHF at rates of exchange prevailing at reporting date. Any gains or losses from these translations are included in the statements of loss in the period in which they arise.

(C)

Group accounting

Oculis SA has four wholly owned subsidiaries, including Oculis Iceland, Oculis France, Oculis US and Oculis Hong Kong. The Company's consolidated financial statements present the aggregate of the five Group entities, after elimination of intra-group transactions, balances, investments and capital.

(D)

Segment reporting

The Company is managed and operated as one business. A single management team that reports to the Chief Executive Officer comprehensively manages the entire business and accordingly, has one reporting segment.

The Company has locations in five countries: Switzerland, Iceland, France, USA and Hong Kong. An analysis of non-current assets by geographic region is presented in Note 5.

(E)

Leases

All leases are accounted for by recognizing a right-of-use asset and a lease liability except for leases of low value assets and leases with a duration of 12 months or less.

Lease liabilities are measured at the present value of the expected contractual payments due to the lessor over the lease term, with the discount rate determined by reference to the rate inherent in the lease unless this is not readily determinable, in which case the Group’s incremental borrowing rate on commencement date of the lease is used. Variable lease payments are only included in the measurement of the lease liability if they depend on an index or rate and remain unchanged throughout the lease term. Other variable lease payments are expensed.

On initial recognition, the carrying value of the lease liability also includes:

amounts expected to be payable under any residual value guarantee; and

the exercise price of any purchase option granted in favor of the group if it is reasonably certain to assess that option.

Right-of-use assets are initially measured at the amount of the lease liability, reduced for any lease incentives received, and increased for lease payments made at or before commencement of the lease and initial direct costs incurred.

Subsequent to the initial measurement, lease liabilities increase as a result of interest charged at a constant rate on the balance outstanding and are reduced for lease payments made. Right-of-use assets are depreciated on a straight-line basis over the remaining expected term of the lease or over the remaining economic life of the asset if this is judged to be shorter than the lease term.

When the Group revises its estimate of the term of any lease, it adjusts the carrying amount of the lease liability to reflect the expected payments over the revised term, which are discounted using a revised discount rate. The carrying value of lease liabilities is similarly revised if the variable future lease payments dependent on a rate or index is revised. In both cases, an equivalent adjustment is made to the carrying value of the right-of-use asset, with the revised carrying amount being amortized over the remaining lease term. If the carrying amount of the right-of-use asset is adjusted to zero, any further reduction is recognized in profit or loss.

(F)

Grant income recognition

Grant income is recognized where there is reasonable assurance that the grant will be received and all attaching conditions will be complied with, and in the year when the related expenses are incurred.

(G)

Taxes

Taxes reported in the consolidated income statements include current and deferred taxes on profit. Taxes on income are accrued in the same periods as the revenues and expenses to which they relate.

Deferred tax is the tax attributable to the temporary differences that appear when taxation authorities recognize and measure assets and liabilities with rules that differ from those of the consolidated accounts. Deferred income tax is calculated using the liability method and determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date and are expected to apply when the related deferred income tax asset is realized, or the deferred income tax liability is settled. Any changes to the tax rates are recognized in the income statement unless related to items directly recognized in equity or other comprehensive loss.

Deferred tax liabilities are recognized on all taxable temporary differences. Deferred income tax assets are recognized only to the extent that it is probable that future taxable profit will be available against which the temporary differences or the unused tax losses can be utilized. Deferred income tax assets from tax credit carry forwards are recognized to the extent that the national tax authority confirms the eligibility of such a claim and

that the realization of the related tax benefit through future taxable profits is probable. Deferred income tax assets and liabilities are offset when there is a legally enforceable right to offset current tax assets against current tax liabilities and when the deferred income tax assets and liabilities relate to income taxes levied by the same taxation authority on either the same taxable entity or different taxable entities where there is an intention to settle the balances on a net basis.

(H)

Earnings / (loss) per share

The Company presents basic earnings / (loss) per share for each period in the financial statements. The earnings (loss) per share is calculated by dividing the earnings / (loss) of the period by the weighted average number of shares outstanding during the period. Diluted earnings per share, applicable in case of positive result, reflect the potential dilution that could occur if dilutive securities such as preferred shares or share options were vested or exercised into common shares.

(I)

Preferred shares

Judgment was required in determining the classification of the preferred shares issued by the Company as either equity or liabilities. The preferred shareholders hold certain preference rights that include preferential distribution of proceeds in the case of liquidity events as defined in the shareholder agreements. Under IAS 32 the Company classifies the Preferred Shares as liabilities. This applies to Series A, B and C shares as per Note 14.

(J)

Property, plant and equipment

All property, plant and equipment are shown at cost, less subsequent depreciation and impairment. Cost includes expenditure that is directly attributable to the acquisition of the items. Subsequent costs are included in the asset’s carrying amount or recognized as a separate asset, as appropriate, only when it is probable that future economic benefits associated with the item will flow to the Group and the cost of the item can be measured reliably.

Depreciation is calculated on a straight-line basis over the useful life, according to the following schedule:


Category	Useful life in years
Laboratory equipment	5 - 7
Laboratory fixtures and fittings	10
Office - IT tools	2 - 3
Office furniture and equipment	5

The assets’ residual values and useful lives are reviewed, and adjusted if appropriate, at each balance sheet date. An asset’s carrying amount is impaired immediately to its recoverable amount if the asset’s carrying amount is greater than its estimated recoverable amount. Gains and losses on disposal or retirement of tangible fixed assets are determined by comparing the net proceeds received with the carrying amounts and are included in the consolidated income statements.

(K)

Intangible assets

(a)

Research and development costs

Research expenditure is recognized in expense in the year in which it is incurred. Internal development expenditure is capitalized only if it meets the recognition criteria of IAS 38 “Intangible Assets”. Where regulatory and other uncertainties are such that the criteria are not met, which is almost invariably the case prior to approval of the drug by the relevant regulatory authority, the expenditure is recognized in the income statement. Where, however, recognition criteria are met, internal development expenditure is capitalized and amortized on a straight-line basis over its useful economic life. The amortization of the licenses will start when the market approval is obtained.

(b)

Licenses

Licenses acquired are capitalized as intangible assets at historical cost and amortized over their useful lives, which are determined on a basis of the expected pattern of consumption of the expected future economic benefits embodied in the licenses and which therefore commence only once the necessary regulatory and marketing approval has been received. These licenses are tested for impairment in the last quarter of each financial period, or when there is any indication for impairment.

Amortization of capitalized licenses is charged to research and development expenses.

(c)

Impairment of licenses

Impairment of capitalized licenses is charged to research and development expenses.

(L)

Impairment of non-financial assets

Assets that are subject to amortization are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of the asset may not be recoverable.

An impairment loss is recognized for the amount by which the asset's carrying amount exceeds its recoverable amount. The recoverable amount is the higher of the asset's fair value less costs of disposal and value-in-use.

For the purpose of impairment testing, assets are grouped together into the smallest group of assets that generates cash inflows from continuing use that are largely independent of the cash flows of other assets ("cash-generating units"). Impairment losses are recognized in the income statement. Prior impairments of non-financial assets are reviewed for possible reversal of the impairment at each reporting date.

(M)

Financial instruments

The principal financial instruments used by the Group are as follows:

Other current assets

Cash and short-term deposits

Long-term financial debt

Lease liabilities

Trade and other payables

These financial instruments are carried at amortized cost.

Due to their short-term nature, the carrying value of cash and cash equivalents, other current assets, and trade and other payables approximates their fair value. For details of the fair value hierarchy, valuation techniques, and significant unobservable inputs related to determining the fair value of long-term financial debt, refer to Note 20.

(a)

Other current assets

The carrying amount of other receivables/current assets is reduced through the use of an allowance account, and the amount of the loss is recognized in the income statement. Subsequent recoveries of amounts previously written off are credited to the income statement.

(b)

Cash and cash equivalents

Cash and cash equivalents include cash on hand and highly liquid investments with original maturities of three month or less. These investments are readily convertible to known amounts of cash.

(c)

Long-term financial debt

Long-term financial debt exclusively results from the issuance of preferred shares that qualify as financial liabilities under IAS 32. Long-term financial debt is carried at amortized cost, plus the accrued interest/preferred dividend payments that are due by the Group under certain conditions. Refer to Note 14 for further information.

(d)

Lease liabilities

(e)

Trade and other payables

Trade and other payables are amounts due to third parties in the ordinary course of business.

(N)

Employee benefits

(a)

Pension obligations

The Group operates a defined benefit pension plan for its Swiss-based employees, which is held in multi-employer fund. The pension plan is funded by payments from employees and from the Company. The Company’s contributions to the defined contribution plans are charged to the income statement in the year to which they relate.

The liability / asset recognized in the balance sheet in respect of defined benefit pension plans is the present value of the defined benefit obligation at the balance sheet date less the fair value of plan assets and the possible effect of the asset ceiling, together with adjustments for unrecognized past-service costs. The defined benefit obligation is calculated annually by independent actuaries using the projected unit credit method.

When the company has a surplus in the defined benefit pension plans, it measures the net defined benefit asset at the lower of:

The surplus in the defined benefit pension plans

The asset ceiling (being the present value of any economic benefits available in the form of refunds from the plan or reductions in future contributions to the plan), determined using the discount rate.

The company does not expect any refunds or contribution reductions in case of a surplus in the defined benefit pension plan calculated per IAS 19, therefore no assets would be recognized in the Consolidated Statements of Financial Position.

The present value of the defined benefit obligation is determined by discounting the estimated future cash outflows using interest rates of high-quality corporate bonds that are denominated in the currency in which the benefits will be paid, and that have terms to maturity approximating to the terms of the related pension liability.

Actuarial gains and losses arising from experience adjustments and changes in actuarial assumptions are charged or credited to equity in other comprehensive income in the period in which they arise.

Past-service costs are recognized immediately in income, unless the changes to the pension plan are conditional on the employees remaining in service for a specified period of time (the vesting period). In this case, the past-service costs are amortized on a straight-line basis over the vesting period.

(b)

Employee participation

The Group operates an equity-settled, share-based compensation plan, under which the entity receives services from employees as consideration for equity instruments (e.g. options) of the Group. The fair value of the employee services received in exchange for the grant of the options is recognized as an expense.

Non-market vesting conditions are included in assumptions about the number of options that are expected to vest. The total expense is recognized over the vesting period, which is the period over which all of the specified vesting conditions are to be satisfied. At the end of each reporting period, the entity revises its estimates of the number of options that are expected to vest based on the non-marketing vesting conditions. It recognizes the impact of the revision to original estimates, if any, in the income statement, with a corresponding adjustment to equity.

When the options are exercised, the Company issues new shares. The proceeds received net of any directly attributable transaction costs are credited to share capital (nominal value) and share premium when the options are exercised.

(O)

Capitalization of transaction costs

The Company capitalizes transaction costs within Other current assets in the Company’s consolidated balance sheet when costs are directly attributable to new equity financing instrument (including business combination related transactions) when it is highly probable that the financing transaction will take place in the future. If and when the Company completes the transaction, capitalized transaction costs will be offset against the proceeds and will be recorded as a reduction of share premium within the Company’s consolidated balance sheet. If the Company determines that it is not highly probable that the transaction will be completed, the Company will

write-off capitalized transaction costs incurred during that respective quarter in the consolidated statement of loss.

(P)

Standard and Interpretations in issue not yet adopted

There are no IFRS standards, amendments or interpretations not yet effective that would be expected to have a material impact on Oculis.

Critical Accounting Estimates And Judgments

12 Months Ended

Dec. 31, 2022

Disclosure of changes in accounting estimates [abstract]

Critical Accounting Estimates And Judgments

CRITICAL ACCOUNTING ESTIMATES AND JUDGMENTS

The Group’s principal accounting policies are set out in Note 3 of the Group’s consolidated financial statements and conform to International Financial Reporting Standards (IFRS). Significant judgments and estimates are used in the preparation of the consolidated financial statements which, to the extent that actual outcomes and results may differ from these assumptions and estimates, could affect the accounting in the areas described in this section.

(A)

Impairment of licenses

The Group assesses whether there are any indicators of impairment for all licenses at each reporting date, which refers exclusively to the licenses of two specific product candidates: OCS-02 and OCS-05. Given the stage Oculis’ development activities and the importance of both products in Oculis’ portfolio, the impairment test is performed first on the basis of a fair value model for the entire Company using a market approach, and second on the basis of the continued development feasibility of the relevant product candidate. Refer to Note 8.

(B)

Deferred income taxes

Deferred income tax assets are recognized for all unused tax losses only to the extent that it is probable that taxable profits will be available against which the losses can be utilized. Judgment is required from management to determine the amount of tax asset that can be recognized, based on forecasts and tax planning strategies. Given the uncertainty in the realization of future taxable profits, no deferred tax asset on unused tax losses has been recognized as of December 31, 2022, 2021and 2020. Refer to Note 6. (E).

(C)

Pension benefits

The present value of the pension obligations depends on several factors that are determined on an actuarial basis using a number of assumptions. The assumptions used in determining the net cost (income) for pensions include the discount rate. Any changes in these assumptions will impact the carrying amount of pension obligations. The independent actuary of the Group uses statistical based assumptions covering future withdrawals of participants from the plan and estimates on life expectancy. The actuarial assumptions used may differ materially from actual results due to changes in market and economic conditions, higher or lower withdrawal rates or longer or shorter life spans of participants. These differences could have a significant impact on the amount of pension income or expenses recognized in future periods.

The Group determines the appropriate discount rate at the end of each year. This is the interest rate used to determine the present value of estimated future cash outflows expected to be required to settle the pension obligations. In determining the appropriate discount rate, the Group considers the interest rates of high-quality corporate bonds that are denominated in the currency in which the benefits will be paid, and that have terms to maturity approximating the terms of the related pension liability. Other key assumptions for pension obligations are based in part on current market conditions. Refer to Note 11.

(D)

Share-based compensation

The Company operates an equity-settled, share-based compensation plan. The fair value of the employee services received in exchange for the grant of equity-based awards is recognized as an expense. The total amount to be expensed over the vesting period is determined by reference to the fair value of the instruments granted, excluding the impact of any non-market vesting conditions, if applicable. Non-market vesting conditions are included in assumptions about the number of instruments that are expected to become exercisable. At each balance sheet date, the Company revises its estimates of the number of instruments that are expected to become exercisable. It recognizes the impact of the revision of original estimates, if any, in the income statement, and a corresponding adjustment to equity over the remaining vesting period.

Stock options granted are valued using the Black-Scholes option-pricing model (see Note 12). This valuation model as well as parameters used such as expected volatility and expected term of the stock options are partially based on management’s estimates. The Company estimates the fair value of non-vested stock awards (restricted shares and restricted share units) using a reasonable estimate of market value of the common stock on the date of the award. The Company classifies its share-based payments as equity-classified awards as they are settled in shares of the common stock. The Company measures equity-classified awards at their grant date fair value and does not subsequently remeasure them. Compensation costs related to equity-classified awards are equal to the fair value of the award at grant-date amortized over the vesting period of the award using the graded method. The Company reclassifies a portion of vested awards to share premium as the awards vest. The proceeds received net of any directly attributable transaction costs are credited to share capital (nominal value) and share premium when the options are exercised.

Segment Information

12 Months Ended

Dec. 31, 2022

Disclosure of geographical areas [abstract]

Segment Information

SEGMENT INFORMATION

Overview of non-current assets, excluding financial and deferred income tax assets, by geographic area:


in CHF thousands	Switzerland				Iceland				Others				Total
	2022		2021		2022		2021		2022		2021		2022		2021
Intangible assets		12,206		8,724		-		-		-		-		12,206		8,724
Property, plant & equipment		24		29		338		400		3		2		365		431
Right-of-use assets		-		52		758		803		-		-		758		855
Total		12,230		8,805		1,096		1,203		3		2		13,329		10,010

Income and Expenses

12 Months Ended

Dec. 31, 2022

Analysis of income and expense [abstract]

INCOME AND EXPENSES

(A)

GRANT INCOME

Grant income reflects research and development expenses reimbursements and certain research projects managed by Icelandic governmental institutions.

Government grants correspond to tax reimbursements on research and development expenses and as subsidies on specific research projects by Icelandic governmental institutions. Icelandic government grant income for the year ended December 31, 2022, is CHF 912 thousand compared to CHF 960 thousand and CHF 993 thousand for the same periods in 2021and 2020, respectively. Refer to Note 10.

(B)

OPERATING EXPENSES


in CHF thousands	For the Years Ended December 31,
	Research and Development Expenses									General and Administrative Expenses									Total Operating Expenses
	2022			2021			2020			2022			2021			2020			2022			2021			2020
Personnel expense		(4,608	)		(4,407	)		(3,826	)		(4,449	)		(2,416	)		(1,771	)		(9,057	)		(6,823	)		(5,597	)
Payroll		(4,313	)		(4,189	)		(3,612	)		(3,939	)		(2,306	)		(1,657	)		(8,252	)		(6,495	)		(5,269	)
Share-based compensation		(295	)		(218	)		(214	)		(510	)		(110	)		(114	)		(804	)		(328	)		(328	)
Operating expenses		(17,616	)		(5,161	)		(5,510	)		(6,615	)		(2,208	)		(2,221	)		(24,231	)		(7,369	)		(7,732	)
External service providers		(17,205	)		(4,786	)		(5,154	)		(2,294	)		(1,681	)		(1,744	)		(19,499	)		(6,467	)		(6,898	)
Other operating expenses		(184	)		(189	)		(167	)		(4,249	)		(478	)		(438	)		(4,433	)		(667	)		(606	)
Depreciation of PPE		(111	)		(78	)		(89	)		(20	)		(10	)		(15	)		(132	)		(88	)		(104	)
Depreciation of right-of-use assets		(116	)		(108	)		(99	)		(52	)		(39	)		(24	)		(167	)		(147	)		(124	)
Total		(22,224	)		(9,568	)		(9,337	)		(11,064	)		(4,624	)		(3,992	)		(33,288	)		(14,192	)		(13,329	)

The increase in Research and Development expenses in 2022 from 2021 was primarily due to the increased clinical and technical development activities for the company’s late-stage clinical assets OCS-01 and OCS-02.

In General and Administrative expenses, for the year ended December 31, 2022, CHF 3.4 million were related to the BCA transaction. Please refer to the disclosures on the Business Combination Agreement in Note 2. (E).

(C)

FINANCE INCOME AND EXPENSE


Finance income
in CHF thousands	For the Years Ended December 31,
	2022		2021		2020
Interest income		126		21		10
Total finance income		126		21		10


Finance expense
in CHF thousands	For the Years Ended December 31,
	2022			2021			2020
Interest expense accrued on Series B and C preferred shares		(6,343	)		(4,996	)		(2,560	)
Interests on lease liabilities		(45	)		(49	)		(50	)
Interest expense		(54	)		(75	)		(18	)
Total finance expense		(6,442	)		(5,120	)		(2,628	)

Finance expenses represent mainly interests related to the preferred dividend owed to the preferred Series B and C shares (refer to Note 14). Preferred Series B and C shares qualify as liabilities under IAS 32 and the related accrued dividends as interest expense.

(D)

CURRENCY EXCHANGE

For the year ended December 31, 2022, the Company recognized currency exchange gains of CHF 49 thousand, compared to a loss of CHF 193 thousand in 2021 and a gain of CHF 163 thousand in 2020. For the year ended December 31, 2022, the loss from revaluation of the Series C long-term liability (refer to Note 14) was CHF 628 thousand, while for the 2021 period there was a gain of CHF 734 thousand. This main driver of the currency exchange result in the period was partially offset by a net gain from revaluation of USD cash balances of approximately CHF 581 thousand for the year ended December 31, 2022.

(E)

INCOME TAX AND DEFERRED TAX


	For the Years Ended December 31,
in CHF thousands	2022			2021			2020
Current income tax (expense) / benefit		(90	)		(22	)		(1	)
Deferred tax (expense) / income		35			(5	)		(82	)
Total tax (expense) / income reported in the income statement		(55	)		(27	)		(83	)

The Group's expected tax expense for each year is based on the applicable tax rate in each individual jurisdiction, which ranged between approximately 8.5% and 28% for 2022, 2021 and 2020 in the tax jurisdictions in which the Group operates. The weighted average tax rate applicable to the profits of the consolidated entities was 13.9% for 2022 and 13.6% for both 2021 and 2020. The tax on the Group's profit / (loss) before tax differs from the statutory amount that would arise using the weighted average applicable tax rate as follows:


	For the Years Ended December 31,
in CHF thousands	2022			2021			2020
Groups average expected tax rate		13.9	%		13.6	%		13.6	%
Accounting loss before income tax		(38,643	)		(18,524	)		(14,790	)
Taxes at weighted average income tax		5,380			2,521			1,997
Effect of unrecorded tax losses		(4,468	)		(1,869	)		(1,732	)
Effect of non deductible expenses		(968	)		(679	)		(348	)
Total tax income / (expense) reported in the income statement		(55	)		(27	)		(83	)

As of December 31, 2022 and 2021, the Group has tax losses which arose mainly in Switzerland that are available for offset against future taxable profits of the company until expiration. Deferred tax assets have not been recognized in respect of these losses in Switzerland as it is not probable that future taxable profit will be available against which the unused tax losses can be utilized. This does not affect the management assumption on the going concern hypothesis of the Group. Below is the maturity of the Group reportable losses:


	As of December 31,
in CHF thousands	2022		2021
2025		16,733		16,733
2026		13,113		13,113
2027		12,437		12,437
2028		14,865		14,865
2029		31,790		-
Total		88,938		57,148

The Group did not recognize the following temporary differences:


	As of December 31,
in CHF thousands	2022			2021
Pension		91			845
Tax losses in Switzerland		88,938			57,148
Leasing		(125	)		(85	)
Intangible asset		(4,025	)		(4,025	)
Total		84,879			53,883

The amount of previously reported tax losses for prior years has been adjusted to the amounts as per filed and approved tax declarations by tax authorities of the Canton Vaud.

The deferred tax assets recorded in 2022 relate to the treatment of FX differences according to the Icelandic tax rule that FX differences for the year must be spread over three tax years. The deferred tax liability recorded in 2021 related to temporary differences on the valuation of property, plant and equipment in Iceland.


	For the Years Ended December 31,
The balance sheet contains the following	2022		2021
Deferred tax assets		24		-
Deferred tax liabilities		-		(11	)

Property, Plant And Equipment

12 Months Ended

Dec. 31, 2022

Disclosure of detailed information about property, plant and equipment [abstract]

Property, Plant And Equipment

PROPERTY, PLANT AND EQUIPMENT

The following tables present the movements in the net book values of property, plant and equipment:


in CHF thousands	Lab - equipment		Lab - fixtures and fittings		Office equipment & hardware		Total
Acquisition cost:
Balance as of December 31, 2020		540		195		88		823
Acquisitions		15		-		13		28
Balance as of December 31, 2021		555		195		101		851
Acquisitions		45		-		20		65
Balance as of December 31, 2022		600		195		121		916


	Lab - equipment			Lab - fixtures and fittings			Office equipment & hardware			Total
Accumulated depreciation:
Balance as of December 31, 2020		(246	)		(44	)		(41	)		(332	)
Depreciation expense		(59	)		(15	)		(14	)		(88	)
Balance as of December 31, 2021		(305	)		(59	)		(55	)		(420	)
Depreciation expense		(70	)		(28	)		(34	)		(132	)
Balance as of December 31, 2022		(375	)		(87	)		(89	)		(551	)

Carrying amount:
As of December 31, 2021		249			135			46			431
As of December 31, 2022		225			108			32			365

Intangible Assets

12 Months Ended

Dec. 31, 2022

Disclosure of detailed information about intangible assets [abstract]

Intangible Assets

INTANGIBLE ASSETS

The following tables summarizes the movement of intangibles assets:


in CHF thousands	Licenses		Total
Acquisition cost:
Balance as of December 31, 2020		8,724		8,724
Additions		-		-
Balance as of December 31, 2021		8,724		8,724
Additions		3,482		3,482
Balance as of December 31, 2022		12,206		12,206

	Licenses		Total
Accumulated amortization:
Balance as of December 31, 2020		-		-
Amortization charge		-		-
Balance as of December 31, 2021		-		-
Amortization charge		-		-
Balance as of December 31, 2022		-		-

Carrying amount:
As of December 31, 2021		8,724		8,724
As of December 31, 2022		12,206		12,206

The increase in 2022 compared to 2021 in the amount of CHF 3,482 thousand was related to the License Agreement with Accure Therapeutics for the exclusive global licensing of its OCS-05 (formerly ACT-01) technology, entered into on January 29, 2022. This License Agreement contains an upfront payment of CHF 3,000 thousand, a reimbursement of development related cost up to CHF 500 thousand, certain milestone payments for achievements of specified development events, sales-based milestone payments and sales-based royalty payments. The Company intends to advance the development of OCS-05 with the focus on multiple ophthalmology neuroprotective applications. As of December 31, 2022, CHF 3,000 thousand upfront payment and CHF 482 thousand reimbursed costs in relation to the OCS-05 clinical study were capitalized as intangible assets in accordance with IAS 38.

(A)

Intangible assets amortization

The products candidates related to the capitalized intangible assets are not yet available for use. The amortization of the licenses will start when the market approval is obtained.

(B)

Annual impairment testing

Oculis performs an assessment of its licenses in the context of its annual impairment test. Given the stage of Oculis’ development activities and the importance of the relevant product candidates, OCS-02 and OCS-05, in Oculis’ portfolio, the impairment test is performed first on the basis of a fair value model for the entire Company using a market approach and second on the basis of the continued development feasibility of both candidates.

Oculis performs its annual impairment tests on its entire portfolio of research and development assets, by deriving the fair value from an observable valuation for the entire Company (enterprise value) based on the latest rounds of external financing. The enterprise value of Oculis, i.e. the Company’s total value, is derived from the latest issuance of preferred shares. The fair value of the asset portfolio is derived by deducting the carrying value of tangible assets, which consist primarily of cash and cash equivalents, from the Company valuation. In 2022 and 2021 this resulted in a derived fair value of Oculis’ portfolio of research and development assets that was multiple times the carrying value of its intangible assets.

OCS-02 and OCS-05, are additionally tested for impairment by assessing their probability of success. Assessments include reviews of the following indicators, and if the candidate fails any of these indicators the entire balance is written off:

•

Importance allocated to the candidate within Oculis’ development portfolio, including future contractual commitments and internal budgets approved by the Board of Directors for ongoing and future development;

•

Consideration of the progress of technical development and clinical trials, including obtaining technical development reports, efficacy and safety readout data, and discussions with regulatory authorities for new trials; and

•

Consideration of market potentials supported where available by external market studies, and assessments of competitor products and product candidates.

In 2022, 2021 and 2020, review of all these indicators for OCS-02 and OCS-05 (in 2022) was positive. No impairment losses were recognized in 2022, 2021 and 2020.

Right-of-use Assets and Lease Liabilities

12 Months Ended

Dec. 31, 2022

Presentation of leases for lessee [abstract]

RIGHT-OF-USE ASSETS AND LEASE LIABILITIES

The following table presents the right-of-use assets:


in CHF thousands	Right-of-use assets
	2022			2021
Balance as of January 1,		855			948
Indexation for the period		70			26
Addition/remeasurement/renewal of lease period Oculis SA office lease		-			28
Depreciation charge for the period		(167	)		(147	)
Balance as of December 31,		758			855

There are no variable lease payments which are not included in the measurement of lease obligations. Expected extension options have been included in the measurement of lease liabilities.

The following table presents the lease obligations:


in CHF thousands	Lease liabilities
	2022			2021
Balance as of January 1,		(770	)		(833	)
Addition/remeasurement/renewal of lease period Oculis SA office lease		-			(28	)
FX revaluation		48			18
Indexation for the period		(70	)		(26	)
Interest expense for the period		(45	)		(49	)
Lease payments for the period		204			147
Balance as of December 31,		(633	)		(770	)


	As of December 31,
in CHF thousands	2022			2021
Current		(142	)		(193	)
Non-current		(491	)		(577	)
Total		(633	)		(770	)

Other Current Assets and Accrued Income

12 Months Ended

Dec. 31, 2022

Current prepayments and current accrued income including current contract assets [abstract]

Other Current Assets and Accrued Income

10.

OTHER CURRENT ASSETS AND ACCRUED INCOME

Other current assets:


	As of December 31,
in CHF thousands	2022		2021
Prepaid and other CMC, research and clinical expenses		1,586		674
Prepaid expenses		1,207		119
VAT		165		150
Other receivables		1		1
Total		2,959		944

As of December 31, 2022, capitalized transaction costs of CHF 570 thousand regarding the BCA agreement have been recorded under Prepaid expenses as explained under Note 2 (E). The increase in the Prepaid and other technical development (CMC), research and clinical expenses balance relates to our contract with Sandoz. Refer to Note 18.

Accrued income:


in CHF thousands	Accrued income
	2022			2021
Balance as of January 1,		760			993
Accrued income recognized during the year		912			960
Payments received during the year		(726	)		(1,198	)
FX revaluation		(34	)		4
Balance as of December 31,		912			760

Iceland offers incentives for research and development in the form of tax credits for innovation companies as outlined in Act No 152/2009. The aid is granted as a reimbursement of companies´ paid income tax or paid out in cash when the tax credit is higher than the calculated income tax. The tax credit is subject to companies having a research project approved as eligible for tax credit by the Icelandic Centre for Research (Rannís). These grants are claimed together with annual tax filings in ISK and reimbursed in the fourth quarter of the following year, which implies a revaluation based on ISK/CHF closing rate at each reporting date.

On May 11, 2020, the Icelandic Parliament passed a legislation changing certain provisions of Act No 152/2009 on tax credits for innovation companies. The changes involve temporary provisions which may affect Oculis potential grant income for costs incurred in 2020 and 2021. The changes involve (i) the increase of possible tax credit for SMEs from 20% to 35%; (ii) an increase in the overall cap on eligible costs from ISK 900 million to ISK 1,100 million; and (iii) the introduction of a new annual cap on outsourced expenses at ISK 200 million, which was previously only subject to the overall cap on eligible expenses.

Pensions and Other Post Employment Benefit Plans

12 Months Ended

Dec. 31, 2022

Disclosure of information about defined benefit plans [abstract]

Pensions and Other Post Employment Benefit Plans

11.

PENSIONS AND OTHER POST-EMPLOYMENT BENEFIT PLANS

The Company’s Swiss pension plan is classified as a defined benefit plan under IFRS. Employees of the Icelandic, French, Hong Kong and American subsidiaries are covered by local post-retirement defined contribution plans.

(A)

Iceland pension

Pension costs are charged to the income statement when incurred. CHF 112 thousand, CHF 117 thousand and CHF 127 thousand were recorded related to Iceland pension expenses in 2022, 2021 and 2020, respectively.

(B)

French retirement plan

Pension costs are charged to the income statement when incurred. In 2022, pension costs amounted to CHF 42 thousand, CHF 47 thousand in 2021 and CHF 20 thousand in 2020.

(C)

U.S. retirement plan

The U.S. entity adopted a 401(k) defined contribution plan effective December 1, 2020. There were no employer contributions made and plan administration cost was immaterial in 2022, 2021 and 2020.

(D)

Hong Kong

Pension costs are charged to the income statement when incurred. In 2022, pension costs amounted to CHF 4 thousand. The subsidiary in Hong Kong did not employ any personnel in 2021 and 2020. Consequently, there was no pension expense in 2021 and 2020.

(E)

Switzerland pension plan

The Company’s Swiss entity is affiliated to a collective foundation administrating the pension plans of various unrelated employers that qualifies as defined benefit plan under IAS 19. For employees in Switzerland, the pension fund provides post-employment, death-in-service and disability benefits in accordance with the Swiss Federal Law on Occupational Retirement, Survivor’s and Disability Pension Plans which specifies the minimum benefits that are to be provided.

The pension plan of the Company’s Swiss entity is fully segregated from the ones of other participating employers. The collective foundation has reinsured all risks with an insurance company. The most senior governing body of the collective foundation is the Board of Trustees. All governing and administration bodies have an obligation to act in the interests of the plan beneficiaries.

The retirement benefits are based on the accumulated retirement capital, which is made of the yearly contributions towards the old age risk by both employer and employee and the interest thereon until retirement. The employee contributions are determined based on the insured salary, depending on the age, staff level and saving amount of the beneficiary. The interest rate is determined annually by the governing body of the collective plan in accordance with the legal framework, which defines the minimum interest rates.

If an employee leaves the pension plan before reaching retirement age, the law provides for the transfer of the vested benefits to a new pension plan. These vested benefits comprise the employee and the employer contributions plus interest, the money originally brought into the pension plan by the beneficiary and an additional legally stipulated amount. On reaching retirement age, the plan beneficiary may decide whether to withdraw the benefits in the form of an annuity or (entirely or partly) as a lump-sum payment. The annuity is calculated by multiplying the balance of the retirement capital with the applicable conversion rate.

All actuarial risks of the plan, e.g. old age, invalidity and death-in-service or investment, are fully covered by insurance. However, the collective foundation is able to withdraw from the contract with the Company at any time, in which case the Company would be required to join another pension plan. In addition, the risk premiums may be adjusted by the insurance company periodically.

The Company's Swiss pension plan is fully reinsured with Swiss Life (“Swiss Life Business Protect”), therefore the plan assets are 100% covered by an insurance contract. The insurance company bearing the investment risk is also making these investments on behalf of the collective foundation. As a result, the assets of the plan consist of a receivable from the insurance police.

The assets are invested by the pension plan, to which many companies contribute, in a diversified portfolio that respects the requirements of the Swiss Law. The insurance policy has been treated as a qualifying insurance policy and therefore the pension assets are presented as one asset and are not desegregated and presented in classes that distinguish the nature and risks of those assets.

The following tables summarize the components of net benefit expense recognized in the income statement, amounts recognized in the balance sheet and gains/(losses) recognized in other comprehensive loss.


in CHF thousands	For the Years Ended December 31,
Actuarial gains / (losses) recognized in other comprehensive loss:	2022		2021
On plan assets		26		18
On obligation		718		70
Total		744		88


in CHF thousands	For the Years Ended December 31,
Net benefit expense (recognized in personnel costs):	2022			2021
Current service cost		(446	)		(296	)
Interest cost on benefit obligation		(31	)		(8	)
Interest income		26			6
Impact of plan changes		37			151
Administration cost		(6	)		(3	)
Net benefit income / (expense)		(420	)		(150	)


in CHF thousands	As of December 31,
Benefit asset / (liability)	2022			2021
Defined benefit obligation		(6,494	)		(5,666	)
Fair value of plan assets		6,403			4,821
Net benefit asset / (liability)		(91	)		(845	)

The impact of plan changes relates mainly to the changes of applicable rates for converting mandatory savings when employees do retire (see also below).

Changes in the present value of the defined benefit obligation are as follows:


	For the Years Ended December 31,
in CHF thousands	2022			2021
Defined benefit obligation at 1 January		(5,666	)		(5,231	)
Interest cost		(31	)		(8	)
Current service cost		(446	)		(296	)
Administrative expenses		(6	)		(3	)
Contributions paid by participants		(1,686	)		(1,702	)
Employees' contributions		(185	)		(126	)
Benefits deposited		770			1,479
Impact of plan changes		37			151
Actuarial gain on obligation		718			70
Defined benefit obligation at December 31,		(6,494	)		(5,666	)

Changes in the fair value of plan assets are as follows:


	For the Years Ended December 31,
in CHF thousands	2022			2021
Fair value of plan assets at 1 January		4,821			4,159
Expected return		26			6
Contributions by employer		429			289
Contributions by employees		185			126
Benefits paid from plan assets		(770	)		(1,479	)
Contributions paid by participants		1,686			1,702
Actuarial gains / (losses)		26			18
Fair value of plan assets at December 31,		6,403			4,821

The Group expects to contribute CHF 431 thousand to its defined benefit pension plan in 2023. The average duration of the plan was 14.0 years and 16.6 years as of December 31, 2022 and 2021, respectively.

The principal assumptions used in determining pension benefit obligations for the Group's plan are shown below:


	As of December 31,
		2022		2021
Discount rate		2.30	%		0.35	%
Future salary increases		1.20	%		1.00	%
Future pensions increases		0.00	%		0.00	%
Retirement age	M65/W64			M65/W64
Demographic assumptions	BVG 2020 GT			BVG 2020 GT

In regard to the underlying estimates for the calculation of the defined benefit pension liabilities the Company updated, among other minor updates, the discount rate assumption to 2.30% as of December 31, 2022, 0.35% as of December 31, 2021 and 0.15% as of December 31, 2020. The change of estimate was due to major changes in the Swiss interest environment driven by increasing inflation. All the actuarial assumptions changes resulted in an actuarial gain of defined benefit pension liabilities of CHF 719 thousand. The net result is a reduction of defined benefit pension liabilities of CHF 845 thousand as of December 31, 2021 to CHF 91 thousand as of December 31, 2022. Furthermore, the assumption for future salary increases has been adjusted to 1.20% (1.00% in 2021 and 2020). Other assumptions for defined benefit pension liabilities remain unchanged.

In 2022, the guaranteed interest to be credited to employees' savings was 1.0% (same as in 2021) for mandatory retirement savings, and 0.25% for supplementary retirement savings. Given current Swiss interest environment, the Company updated the estimated interest to be credited to employees’ savings up to 2.30%. The applicable rate for converting mandatory savings at age 65 for male and 64 for female employees retiring in 2022was 6.50% and will be reduced to 6.20% for 2023 and 5.90% for 2024 and subsequent years. The rate for converting supplementary savings to an annuity decreases from 4.71% in 2022, to 4.49% in 2023 and subsequent years for male employees and decreases from 4.76% in 2022 to 4.54% in 2023 and subsequent years for female employees.

Sensitivity analysis

A quantitative sensitivity analysis for significant assumptions as of December 31, 2022 and 2021 is shown below:


in CHF thousands	Discount rate						Future salary increase						Mortality assumptions
Assumptions as of December 31, 2022	+0.25%			-0.25%			+0.50%			-0.50%			+1 year			-1 year
Potential defined benefit obligation		(6,274	)		(6,741	)		(6,527	)		(6,462	)		(6,553	)		(6,429	)
Decrease / (increase) from actual defined benefit obligation		221			(247	)		(32	)		32			(58	)		65

Assumptions as of December 31, 2021	+0.25%			-0.25%			+0.50%			-0.50%			+1 year			-1 year
Potential defined benefit obligation		(5,442	)		(5,922	)		(5,681	)		(5,652	)		(5,750	)		(5,614	)
Decrease / (increase) from actual defined benefit obligation		224			(256	)		(15	)		14			(84	)		52

The sensitivity analysis above is subject to limitations and has been determined based on a method that extrapolates the impact on net defined benefit obligation as a result of reasonable changes in key assumptions occurring at the end of the reporting period.

Share Based Payment

12 Months Ended

Dec. 31, 2022

Disclosure of terms and conditions of share-based payment arrangement [abstract]

Share Based Payment

12.

SHARE BASED PAYMENT

On June 19, 2018, the Board of Directors approved a revised stock option and incentive plan (the “Plan”). The Plan allows for the grant of equity incentives, including share-based options and restricted stock.

Share-based option awards

Each share-based option granted under the Plan entitles the grantee to acquire from the Company common shares with payment in cash of the exercise price. For each grant of share-based options, the Company offers options, with the issuance of a grant notice, which details the terms of the option, including exercise price, vesting conditions and expiration date. The terms of each grant are set by the Board of Directors.

The volatility used in the estimation of fair value is calculated utilizing the volatility of the share prices of a set list of publicly traded peer companies based on commensurate expected terms as of the grant date. In the event that a company used in the volatility calculation has not been publicly traded for the requisite amount of time, the entirety of its trading history was used.

Under the Plan, share-based option awards of 550,468 in 2022, 298,972 in 2021 and 406,141 in 2020 shares were granted. All shares granted in 2022, 2021 and 2020 had a four-year vesting schedule.

The total expense recognized in the income statement for share options granted amounts to CHF 804 thousand for 2022 and CHF 328 thousand for 2021 and 2020. The reserve for share option increased from CHF 1,640 thousand as of December 31, 2020 to CHF 1,967 thousand as of December 31, 2021 and to CHF 2,771 thousand as of December 31, 2022. The following table illustrates the weighted-average assumptions for the Black-Scholes option-pricing model used in determining the fair value of these awards:


	For the Years Ended 31 December,
	2022			2021			2020
Exercise price	CHF 3.41			CHF 2.70			CHF 2.11 to 2.47
Share price (option-pricing model)	CHF 3.41			CHF 2.70			CHF 1.92 to 2.47
Risk free interest rate		0.74	%		0.00	%	(0.94%) to 0.00%
Expected term	2.5 years			2.5 years			2.5 to 5.5 years
Expected volatility		96.3	%		82.1	%	90.8-101%
Divdend yield		—			—			—

The number and weighted average exercise prices of share-based options under the Plan are as follows:


	Number of Options			Weighted Average Exercise Price (CHF)		Range of Expiration Dates
Oustanding at January 1, 2020		608,059			2.13	2026-2028
Forfeited during the year		(37,981	)		2.18	2027
Granted during the year		406,141			2.39	2027-2029
Oustanding at December 31, 2020		976,220		2.24		2026-2029

Exercisable at December 31, 2020		443,781			2.12	2026-2029

Oustanding at January 1,2021		976,220			2.24	2026-2029
Forfeited during the year		(147,607	)		2.39	2027-2028
Granted during the year		298,972			2.70	2030
Oustanding at December 31, 2021		1,127,585			2.34	2026-2030

Exercisable at December 31, 2021		664,192			2.17	2026-2030

Oustanding at January 1, 2022		1,127,585			2.34	2026-2030
Forfeited during the year		(82,445	)		2.69	2023-2030
Granted during the year		550,468			3.41	2031
Exercised during the year		(53,500	)		2.11
Oustanding at December 31, 2022		1,542,108			2.73	2027-2031

Exercisable at December 31, 2022		716,919			2.25	2027-2031

The average fair value at grant date of the awards granted during the year ended December 31, 2022 was CHF 3.41 per award, CHF 2.70 during the year ended December 31, 2021 and CHF 2.40 during the year ended December 31, 2020.

The range of exercise prices of the outstanding awards at December 31, 2022 was CHF 2.11 to CHF 3.41, CHF 2.11 to CHF 2.70 at December 31, 2021 and CHF 2.11 to CHF 2.47 at December 31, 2020.

Restricted Stock Awards

Each restricted stock granted under the Plan is immediately exercised and the expense is recorded at grant in full. The Company is holding a call option to repurchase shares diminishing rateably on a monthly basis over three years from grant. For each grant of restricted stock, the Company issues a grant notice, which details the terms of

the grant, including the number of awards, exercise price and expiration date. The terms of each grant are set by the Board of Directors.

The number and weighted average exercise prices of restricted stock under the Plan are as follows:


	Number of Restricted Stocks		Weighted Average Exercise Price (CHF)
Issued and exercised at January 1, 2020		571,783		1.79
Granted and exercised during the year		80,327		1.95
Issued and exercised at December 31, 2020		652,110		1.81
Not subject to repurchase at December 31,2020		472,502		1.80
Issued and exercised at January 1, 2021		652,110		1.81
Granted and exercised during the year		386,116		2.27
Issued and exercised at December 31, 2021		1,038,226		1.98
Not subject to repurchase at December 31, 2021		621,343		1.82
Issued and exercised at January 1, 2022		1,038,226		1.98
Issued and exercised at December 31, 2022		1,038,226		1.98
Not subject to repurchase at December 31, 2022		817,022		1.90

Restricted stock is granted and expensed at fair value. The payroll expense related to restricted stock, including the total expense and the part contributable towards restricted stock issuance, is as follows:


	For the Years Ended 31 December,
in CHF thousands	2022		2021			2020
Total payroll expense related to restricted stock		—		(951	)		170
Expense contributable towards restricted stock issuance		—		(828	)		148


	For the Years Ended 31 December,
in CHF thousands	2022		2021		2020
Fair value of restricted stock issued		—		876		157
Expense contributable towards restricted stock issuance		—		828		148
Grantee contributions for restricted stock issuance		—		48		9

Cash and Cash Equivalents

12 Months Ended

Dec. 31, 2022

Cash and cash equivalents [abstract]

Cash and Cash Equivalents

13.

CASH AND CASH EQUIVALENTS

Cash and cash equivalents consist primarily of cash balances held at banks and in the currencies:


	As of December 31,
in CHF thousands by currency	2022		2021
Swiss Franc		7,216		23,987
Iceland Krona		383		726
Euro		2,350		4,202
US Dollar		9,741		17,325
Other		96		37
Total		19,786		46,277

Long-Term Financial Liabilities

12 Months Ended

Dec. 31, 2022

Disclosure of financial liabilities [abstract]

LONG-TERM FINANCIAL LIABILITIES

14.

LONG-TERM FINANCIAL LIABILITIES

As of December 31, 2022, the Company had 12,712,863 preferred shares for an amount of CHF 1,350 thousand. These shares are divided into 1,623,793 registered "A Series" shares of CHF 0.10 each, 5,191,512 registered "B Series" of CHF 0.10 each, 5,699,813 registered "C1a Series" shares (denominated in USD) of CHF 0.10 each and 197,745 registered "C1b Series" shares (denominated in USD) of CHF 0.50 each.

On July 22, 2022, the Company completed the closing of an extension round to the Series C equity financing of approximately CHF 2.0 million ($2.1 million) with an issuance of 197,745 shares of preferred shares (“Series C1b Shares” at a per share purchase price of CHF 10.27 ($10.64) and a nominal per share value of CHF 0.50. The Series C1b shareholders have the same rights and preferences as the Series C shareholders. Same as Series A, B and C preferred shares, the Series C1b preferred shares qualify as financial liability instruments under IAS 32 and are presented on the Balance Sheet as long-term financial debt.

All preferred shares have a liquidation preference corresponding to their respective initial purchase price. Furthermore, the "B Series" and "C Series" shares include a preferred dividend payment of 6.00% (as a compounded interest).

The Shareholders’ Agreement contains a redemption option upon certain events with amounts equivalent to the sum of investors’ Series C investment and applicable interests at 0.00%, 6.00% and 8.00% for Series A, B and C shares, respectively. The Company considered the expected future cash outflows and concluded that the probability of the certain events occurring to be remote. Refer to Note 18 for discussion on the redemption feature.

The B Series and C Series shares include a preferred dividend payment of 6.00%, and the corresponding deemed interest expense of CHF 16,986 thousand was accrued as of December 31, 2022. The nominal amounts (for "A, B and C Series") and the accrued preferred dividend resulted in a long-term debt of CHF 122,449 thousand on December 31, 2022. The movement of the long-term financial liability is illustrated below:


in CHF thousands	Series A shares		Series B shares		Series C shares			Total
Balance as of December 31, 2020		8,179		45,799		-			53,978
Issuance of shares		-		-		56,096			56,096
Transaction costs		-		-		(834	)		(834	)
Interest		-		2,770		2,226			4,996
FX revaluation		-		-		(734	)		(734	)
Balance as of December 31, 2021		8,179		48,569		56,754			113,502
Issuance of shares		-		-		2,030			2,030
Transaction costs		-		-		(54	)		(54	)
Interest		-		2,797		3,546			6,343
FX revaluation		-		-		628			628
Balance as of December 31, 2022		8,179		51,366		62,904			122,449

Share Capital, Share Premium and Treasury Shares

12 Months Ended

Dec. 31, 2022

Disclosure Of Share Capital Share Premium And Treasury Shares [Abstract]

Share Capital, Share Premium and Treasury Shares

15.

SHARE CAPITAL, SHARE PREMIUM AND TREASURY SHARES

(A)

Share capital and premium

As of December 31, 2022, the Company had 3,406,771 shares for CHF 340 thousand. These shares are divided into 2,368,545 common shares of CHF 0.10 each, of which 4,000 will be registered in the commercial register in the first quarter of 2023, and 1,038,226 shares for restricted stock of CHF 0.10 each.

As described in Note 14, due to the characteristics of the instruments issued, the A Series, B Series and C Series preferred shares qualify as financial liability instruments under IAS 32. As a result, they are presented as long-term financial liabilities and are consequently not included in the equity and related premium.

The activities for share capital and share premium accounts in 2020, 2021 and 2022 are as follows:


	number of shares				in CHF thousands
	Common shares		Restricted stock awards		Share capital		Share premium
Balance as of December 31, 2019		2,315,045		571,783		289		9,476
Issuance of shares		-		80,327		8		149
Transaction costs		-		-		-		(15	)
Balance as of December 31, 2020		2,315,045		652,110		297		9,609
Issuance of shares		-		386,116		39		837
Transaction costs		-		-		-		(12	)
Balance as of December 31, 2021		2,315,045		1,038,226		335		10,434
Stock options exercised		53,500		-		5		115
Transaction costs		-		-		-		(9	)
Balance as of December 31, 2022		2,368,545		1,038,226		340		10,540

(B)

Conditional Capital

The conditional share capital at December 31, 2022, amounted to a maximum of CHF 144 thousand split into 1,443,829 common shares with a par value of CHF 0.10 each, in connection with the potential future exercise of options granted to employees and advisors (respectively as of December 31, 2021, to a maximum of CHF 185 thousand split into 1,849,784 common shares with a par value of CHF 0.10 each).

(C)

Treasury shares

In December 2017 related to the initial corporate consolidation, the Group acquired 100,000 treasury shares which are held at a cost of CHF 1.00 each.

Trade Payables

12 Months Ended

Dec. 31, 2022

Subclassifications of assets, liabilities and equities [abstract]

Trade Payables

16.

TRADE PAYABLES


	As of December 31,
in CHF thousands	2022			2021
Trade payables		(3,867	)		(824	)
Total		(3,867	)		(824	)

Trade payables are non-interest bearing and are normally settled on 60-day terms. Increase in trade payables year over year was primarily due to increase in business and product development activities and to the costs related to the BCA transaction as described under note 2 (E).

Accrued Expenses and Other Payables

12 Months Ended

Dec. 31, 2022

Trade and other current payables [abstract]

Schedule of Accrued Expenses and Other Payables

17.

ACCRUED EXPENSES AND OTHER PAYABLES


	As of December 31,
in CHF thousands	2022			2021
Payroll related accrual		(2,249	)		(1,723	)
Accrued R&D expense		(4,805	)		(730	)
Accrued G&A expense		(956	)		(592	)
Total		(8,011	)		(3,045	)

The increase in the Payroll related accrual is mainly due to the increase in the headcount. The increase in the accrued Research & Development (R&D) expense compared to the previous year-end is mainly related to the Company's ongoing clinical studies. The increase in the accrued General and Administrative (G&A) expense is primarily due to accrued cost in relation to the BCA as described under note 2 (E).

Commitments and Contingencies

12 Months Ended

Dec. 31, 2022

Disclosure of contingent liabilities [abstract]

Commitments and Contingencies

18.

COMMITMENTS AND CONTINGENCIES

Commitments related to Novartis license agreement

In December 2018, Oculis SA entered into an agreement with Novartis, under which Oculis licensed a novel topical anti-TNF alpha antibody, now renamed as OCS-02, for ophthalmic indications. As consideration for the licenses, Oculis SA is obligated to pay non-refundable, up-front license fees, predefined development and commercial milestone payments and royalties on net sales of licensed products. Royalties range from high one digit to low teens, based on sales thresholds. As of December 31, 2019, Oculis SA has paid in full the contractual non-refundable up-front fee of CHF 4,699 thousand. Oculis SA has not reached any milestones or royalties thresholds according to the agreement. If all predefined milestones will be reached, Oculis SA will be obligated to pay additional CHF 89.7 million ($97.0 million). Oculis SA expects to reach the first milestone payment of CHF 4.6 million ($5.0 million) in 2024. Royalties are based on net sales of licensed products, depending on the sales volumes reached.

Commitments related to Accure license agreement

On January 29, 2022, the Company entered into a License Agreement with Accure Therapeutics for the exclusive global licensing of its OCS-05 technology. Under this agreement, Oculis licensed a novel neuroprotective drug candidate, now renamed as OCS-05, for ophthalmic and other indications (refer to Note 8). As consideration for the licenses, Oculis SA is obligated to pay non-refundable, up-front license fees, predefined development and commercial milestone payments and royalties on net sales of licensed products. Royalties range from one digit to low teens, based on sales thresholds. As of December 31, 2022, Oculis SA has paid the full contractual non-refundable up-front fee of CHF 3,000 thousand and reimbursed costs in the amount of CHF 483 thousand. Oculis SA has not reached any milestones or royalties thresholds according to the agreement. If all predefined milestones will be reached, Oculis SA will be obligated to pay additional CHF 103.6 million ($112.1 million). In case of a commercialization, sublicense revenues will be subject to further royalty payments.

Commitments related to Rennes University Collaboration Research agreement

On January 31, 2022, the Company entered into a collaboration research agreement with the Rennes University and CNRS in France. This agreement is for the research of Antisense Oligonucleotide (ASO) to modulate gene expressions. As consideration for the licenses, Oculis SA is obligated to pay non-refundable cost contribution, predefined development and commercial milestone payments and royalties on net sales of licensed products. Royalties are in low one digit range, based on sales thresholds. As of December 31, 2022, Oculis SA has paid the first contractual non-refundable cost contribution of CHF 27 thousand (€27 thousand). Oculis SA has not reached any milestones or royalties thresholds according to the agreement. If all predefined milestones will be reached, Oculis SA will be obligated to pay additional CHF 6.9 million (€7.0 million). In case of a commercialization, sublicense revenues will be subject to further royalty payments.

Commitments related to Sandoz GMP manufacturing agreement

On November 15, 2022, Oculis signed a Letter of Understanding (“LoU”) with Sandoz GmbH with respect to process transfer, scale-up and potential GMP manufacture of Oculis’ recombinant product OCS-02 (“Product”). The parties will negotiate certain definitive agreements such as a Manufacturing and Supply Agreement (“MSA”) for the future manufacturing and supply of the Product and certain related services. The activities under the LoU consist of three work packages (“WP”): Process optimization (WP1), Process Confirmation at Pilot Scale (WP2), and Analytical Method Validation (WP3). In order to start the preparatory work, an advance invoice of CHF 1,871 thousand (€1,890 thousands) was made related to project management fees, 35% of WP1 and 35% of WP3. The total amount of payments committed under this LoU amounts to CHF 7,219 thousand (€7,293 thousands) including raw materials.

Research and development commitments

The Group conducts product research and development programs through collaborative programs that include, among others, arrangements with universities, contract research organizations and clinical research sites. Oculis has contractual arrangements with these organizations. As of December 31, 2022, commitments for external research projects total CHF 13,123 thousand (CHF 14,408 thousand, as of December 31, 2021) as detailed in the schedule below. The decrease compared to December 31, 2021, was due to advancements in clinical and technical developments, primarily for OCS-01 phase III clinical trials and OCS-02 CMC activities.


	As of December 31,
in CHF thousands	2022		2021
Within one year		12,145		13,307
Between one and five years		978		1,101
Total		13,123		14,408

Preferred shares redemption option

Per the Series C Shareholders’ Agreement, a redemption option exists in April 2025 for a pre-specified qualified condition related to an initial public offering, with amounts equivalent to the sum of investors’ Series A, B and C investment, accrued dividends and applicable compounded interests at 0.00%, 6.00% and 8.00% for Series A, B and C shares, respectively, which could lead to a potential cash-outflow. As of December 31, 2022, the sum of amounts due related to the aforementioned redemption option was approximately CHF 135 million, reflecting investment amounts, cumulative accrued dividend and compounded interest for Series A, B and C preferred shares.

The recent Business Combination with EBAC on March 2, 2023 and NASDAQ listing the following day, meets the pre-specified qualified condition, hence the risk of redemption no longer applies. The preferred shares will be transferred to equity including the accrued dividend.

Related Party Disclosures

12 Months Ended

Dec. 31, 2022

Disclosure of transactions between related parties [abstract]

RELATED PARTY DISCLOSURES

19.

RELATED PARTY DISCLOSURES

Key management, including the Board of Directors and the Executive Management compensation were:


in CHF thousands	For the Years Ended December 31,
	2022		2021		2020
Salaries and other short-term employee benefits		3,506		3,071		2,557
Payroll expenses related to restricted stock		-		951		170
Pension		227		264		293
Share-based compensation		535		251		259
Total		4,268		4,537		3,279

Short-term employee benefits include salaries, bonuses, social security and expense allowances.

Financial Instruments / Risk Management

12 Months Ended

Dec. 31, 2022

Disclosure of detailed information about financial instruments [abstract]

Financial Instruments / Risk Management

20.

FINANCIAL INSTRUMENTS / RISK MANAGEMENT

Categories of financial instruments:

As indicated in Note 3, all financial assets and liabilities are shown at amortized cost. The following table shows the carrying amounts of financial assets and liabilities:


in CHF thousands	As of December 31,
Financial assets	2022		2021
Financial assets - non-current		50		52
Other current assets (without prepaids)		166		151
Accrued income		912		760
Cash and cash equivalents		19,786		46,277
Total		20,914		47,240


in CHF thousands	As of December 31,
Financial liabilities	2022		2021
Trade payables		3,867		824
Accrued expenses and other payables		8,011		3,045
Lease liabilities		633		770
Long-term financial debt related to preferred shares/accrued dividend		122,449		113,502
Total		134,960		118,141

Below is the net debt table of liabilities from financing activities:


in CHF thousands	Preferred shares			Leasing			Total
Net debt as of December 31, 2020		(53,978	)		(833	)		(54,811	)
Cashflows		(56,096	)		147			(55,948	)
Interest calculated on Series B & C shares		(4,996	)		-			(4,996	)
Transaction costs related to 2021		834			-			834
Oculis SA office lease addition/remeasurement		-			(28	)		(28	)
Interest calculated on leases		-			(49	)		(49	)
Indexation for the period		-			(26	)		(26	)
FX revaluation		735			18			753
Net debt as of December 31, 2021		(113,502	)		(770	)		(114,272	)
Cashflows		(2,030	)		204			(1,826	)
Interest calculated on Series B & C shares		(6,343	)		-			(6,343	)
Transaction costs related to 2022		54			-			54
Interest calculated on leases		-			(45	)		(45	)
Indexation for the period		-			(70	)		(70	)
FX revaluation		(628	)		48			(580	)
Net debt as of December 31, 2022		(122,449	)		(633	)		(123,082	)

Fair values

Due to their short-term nature, the carrying value of cash and cash equivalents, trade and other receivables and trade and other payables approximates their fair value.

For long-term financial debt, resulting from the issuance of preferred shares as described in Note 14, the fair value can be determined from the similar or identical instruments issued by the Company during 2022. This level 2 value resulted in a fair value of CHF 115,707 thousand compared to a book value of CHF 122,449 thousand. In 2021, these shares had a book value of CHF 113,502 thousand while the fair value was CHF 107,187 thousand.

Risk assessment

Since 2018 the Company implemented an Internal Control System (ICS), which includes a risk assessment. The ultimate responsibility of the risk management is of the Board of Directors and a yearly review takes place during one of the Board of Directors meetings.

Market risk

Market risk is the risk that changes in market prices, such as foreign exchange rates, interest rates and equity prices will affect the Company’s income or the value of its holdings of financial instruments. The objective of market risk management is to manage and control market risk exposures within acceptable parameters, while optimizing the return.

Foreign currency risks

In 2020, the Group had all of its grant income and a significant part of its expenses, assets and liabilities denominated in Islandic Krona (ISK). Starting in 2020, Oculis is also present in the U.S. and France with local currencies in US Dollar and Euro. Starting in 2021, Oculis also reports figures in HKD from its subsidiary in Hong Kong.

The following table demonstrates the sensitivity of reasonably possible changes in ISK, EUR, USD and HKD exchange rate on the Group net result or on equity:


	For the Years Ended / As of December 31,
in CHF thousands	2022						2021
Change in rate	Impact on loss			Impact on equity			Impact on loss			Impact on equity
+5% ISK		7			(16	)		(101	)		125
-5% ISK		(7	)		16			101			(125	)
+5% EUR		(4	)		99			(24	)		5
-5% EUR		4			(99	)		24			(5	)
+5% USD		7			138			(66	)		-
-5% USD		(7	)		(138	)		66			-
+5% HKD		-			(6	)		(1	)		(174	)
-5% HKD		-			6			1			174

Interest rate risk

The Company’s long-term financial liabilities, which result from the issuance of preferred shares as indicated in Note 14, bear a deemed interest resulting from the preferred dividend, due under certain circumstances, at a fixed rate of 6.00% per year. The other financial instruments of the Group are not bearing interest and are therefore not subject to interest rate risk.

Hedging activities

There are no hedging activities within the Group.

Credit risk

As of December 31, 2022, there is no material credit risk in the Group. The maximum exposure is the carrying amount of cash and other receivables. There is no concentration of credit risk within the Group. Furthermore, there is no significant credit risk on cash and cash equivalents.

Liquidity risk

Liquidity risk is the risk that the Group will encounter difficulty in meeting the obligations associated with its financial liabilities that are settled by delivering cash or another financial asset. Liquidity management is performed by Group finance based on cash flow forecasts which are prepared on a rolling basis and focuses mainly on ensuring that the Group has sufficient cash to meet its operational needs. The Group’s liquidity needs have been historically satisfied by issuing preferred shares.

All of the Company’s financial instruments, except long-term financial liabilities and the long-term portion of the lease liabilities are due within one year.


in CHF thousands	As of December 31, 2022		Less than one year		Over one year		As of December 31, 2021		Less than one year		Over one year
Trade payables		3,867		3,867		-		824		824		-
Accrued expenses and other payables		8,011		8,011		-		3,045		3,045		-
Long-term financial debt		170,988		-		170,988		167,113		-		167,113
Lease liability		743		149		594		845		199		646
Total		183,609		12,027		171,582		171,827		4,068		167,759

Long-term financial liabilities result from the issuance of preferred shares as indicated in Note 18. They might become due in the case of certain liquidation or exit events within the next year.

Capital management

Since its incorporation, the Group has primarily funded its operations through capital increases, and at the current development stage, the Group frequently raises new funds to finance its projects. Refer to Notes 14 and 15 for further details.

Loss Per Share

12 Months Ended

Dec. 31, 2022

Earnings per share [abstract]

Loss Per Share

21.

LOSS PER SHARE


	For the Years Ended December 31,
	2022			2021			2020
Net (loss) for the period attributable to Oculis shareholders - in CHF thousands		(38,698	)		(18,552	)		(14,873	)
Loss per share
Basic and diluted loss for the period attributable to equity holders - in CHF		(12.94	)		(6.68	)		(5.77	)
Weighted-average number of shares used to compute loss per share basic and diluted		2,989,434			2,777,589			2,579,385

Since the Company has a loss for all periods presented, basic net loss per share is the same as diluted net loss per share. We have excluded from our calculation of diluted loss per share all potentially dilutive securities, including (i) share options and (ii) restricted stock awards subject to repurchase, as the inclusion of these awards would have been anti-dilutive.

Potentially dilutive securities that were not included in the diluted per share calculations because they would be anti-dilutive were as follows:


	For the Years Ended December 31,
	2022		2021		2020
Share options issued and outstanding		1,542,108		1,127,585		976,220
Restricted stock subject to repurchase		221,204		416,883		179,608
Total		1,763,312		1,544,468		1,155,828

Subsequent Events

12 Months Ended

Dec. 31, 2022

Disclosure of non-adjusting events after reporting period [abstract]

Subsequent Events

22.

SUBSEQUENT EVENTS

On March 2, 2023, the Company completed its BCA with EBAC, a special purpose acquisition company. Under the BCA and in accordance with applicable law, EBAC transferred into Oculis Holding AG, a public liability company incorporated and existing under the laws of Switzerland.

As a result of the merger, the Company’s outstanding common and preferred shares converted into common shares of Oculis Holding AG at the effective exchange ratio. Similarly, the 2018 option plan is replaced by a new 2023 ESOP plan and outstanding options are converted to Oculis Holding AG options at the effective exchange ratio. In addition, existing equityholders of the Company were entitled to receive additional consideration in the form of an aggregate of 4,000,000 newly issued restricted shares of Oculis Holding AG, subject to predefined price targets of Oculis Holding AG shares.

Oculis Holding AG received gross proceeds of approximately CHF 97.4 million ($103.7 million) comprising CHF 12.0 million ($12.8 million) of cash held in EBAC’s trust account, CHF 85.4 million ($90.9 million) from PIPE investments and conversion of CLAs into common shares of Oculis Holding AG. The CLA’s provided the same economic terms as the other PIPE investors considering a deemed value of CHF 9.40 ($10.00) per Oculis Holding AG share. EBAC public shareholders exercised their right to redeem their shares of EBAC Class A Common Stock for an amount of CHF 110.4 million ($117.5 million).

In connection with the BCA, Oculis Holding AG was listed in NASDAQ with the ticker symbol for its Class A common shares “OCS”.

There are no further material subsequent events to report and no events out of the ordinary course of business.

Summary of Significant Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2022

Disclosure Of Summary Of Significant Accounting Policies [Abstract]

Current vs. non-current classification

(A)

Current vs. non-current classification

Foreign currency transactions

(B)

Foreign currency transactions

Group accounting

(C)

Group accounting

Segment reporting

(D)

Segment reporting

The Company has locations in five countries: Switzerland, Iceland, France, USA and Hong Kong. An analysis of non-current assets by geographic region is presented in Note 5.

Leases

(E)

Leases

All leases are accounted for by recognizing a right-of-use asset and a lease liability except for leases of low value assets and leases with a duration of 12 months or less.

On initial recognition, the carrying value of the lease liability also includes:

amounts expected to be payable under any residual value guarantee; and

the exercise price of any purchase option granted in favor of the group if it is reasonably certain to assess that option.

Grant income recognition

(F)

Grant income recognition

Taxes

(G)

Taxes

Taxes reported in the consolidated income statements include current and deferred taxes on profit. Taxes on income are accrued in the same periods as the revenues and expenses to which they relate.

Earnings / (loss) per share

(H)

Earnings / (loss) per share

Preferred shares

(I)

Preferred shares

Property, plant and equipment

(J)

Property, plant and equipment

Depreciation is calculated on a straight-line basis over the useful life, according to the following schedule:


Category	Useful life in years
Laboratory equipment	5 - 7
Laboratory fixtures and fittings	10
Office - IT tools	2 - 3
Office furniture and equipment	5

Intangible assets

(K)

Intangible assets

(a)

Research and development costs

(b)

Licenses

Amortization of capitalized licenses is charged to research and development expenses.

(c)

Impairment of licenses

Impairment of capitalized licenses is charged to research and development expenses.

Impairment of non-financial assets

(L)

Impairment of non-financial assets

Assets that are subject to amortization are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of the asset may not be recoverable.

Financial instruments

(M)

Financial instruments

The principal financial instruments used by the Group are as follows:

Other current assets

Cash and short-term deposits

Long-term financial debt

Lease liabilities

Trade and other payables

These financial instruments are carried at amortized cost.

(a)

Other current assets

(b)

Cash and cash equivalents

Cash and cash equivalents include cash on hand and highly liquid investments with original maturities of three month or less. These investments are readily convertible to known amounts of cash.

(c)

Long-term financial debt

(d)

Lease liabilities

(e)

Trade and other payables

Trade and other payables are amounts due to third parties in the ordinary course of business.

Employee benefits

(N)

Employee benefits

(a)

Pension obligations

When the company has a surplus in the defined benefit pension plans, it measures the net defined benefit asset at the lower of:

The surplus in the defined benefit pension plans

Actuarial gains and losses arising from experience adjustments and changes in actuarial assumptions are charged or credited to equity in other comprehensive income in the period in which they arise.

(b)

Employee participation

Capitalization of transaction costs

(O)

Capitalization of transaction costs

write-off capitalized transaction costs incurred during that respective quarter in the consolidated statement of loss.

Standard and Interpretations in issue not yet adopted

(P)

Standard and Interpretations in issue not yet adopted

There are no IFRS standards, amendments or interpretations not yet effective that would be expected to have a material impact on Oculis.

Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2022

Disclosure Of Summary Of Significant Accounting Policies [Abstract]

Schedule of Useful Life of Property Plant and Equipment

Depreciation is calculated on a straight-line basis over the useful life, according to the following schedule:


Category	Useful life in years
Laboratory equipment	5 - 7
Laboratory fixtures and fittings	10
Office - IT tools	2 - 3
Office furniture and equipment	5

Segment Information (Tables)

12 Months Ended

Dec. 31, 2022

Disclosure of geographical areas [abstract]

Schedule of Non-current Assets, Excluding Financial and Deferred Income Tax Assets by Geographic Area

Overview of non-current assets, excluding financial and deferred income tax assets, by geographic area:


in CHF thousands	Switzerland				Iceland				Others				Total
	2022		2021		2022		2021		2022		2021		2022		2021
Intangible assets		12,206		8,724		-		-		-		-		12,206		8,724
Property, plant & equipment		24		29		338		400		3		2		365		431
Right-of-use assets		-		52		758		803		-		-		758		855
Total		12,230		8,805		1,096		1,203		3		2		13,329		10,010

Income and Expenses (Tables)

12 Months Ended

Dec. 31, 2022

Analysis of income and expense [abstract]

Schedule of Operating Expenses


in CHF thousands	For the Years Ended December 31,
	Research and Development Expenses									General and Administrative Expenses									Total Operating Expenses
	2022			2021			2020			2022			2021			2020			2022			2021			2020
Personnel expense		(4,608	)		(4,407	)		(3,826	)		(4,449	)		(2,416	)		(1,771	)		(9,057	)		(6,823	)		(5,597	)
Payroll		(4,313	)		(4,189	)		(3,612	)		(3,939	)		(2,306	)		(1,657	)		(8,252	)		(6,495	)		(5,269	)
Share-based compensation		(295	)		(218	)		(214	)		(510	)		(110	)		(114	)		(804	)		(328	)		(328	)
Operating expenses		(17,616	)		(5,161	)		(5,510	)		(6,615	)		(2,208	)		(2,221	)		(24,231	)		(7,369	)		(7,732	)
External service providers		(17,205	)		(4,786	)		(5,154	)		(2,294	)		(1,681	)		(1,744	)		(19,499	)		(6,467	)		(6,898	)
Other operating expenses		(184	)		(189	)		(167	)		(4,249	)		(478	)		(438	)		(4,433	)		(667	)		(606	)
Depreciation of PPE		(111	)		(78	)		(89	)		(20	)		(10	)		(15	)		(132	)		(88	)		(104	)
Depreciation of right-of-use assets		(116	)		(108	)		(99	)		(52	)		(39	)		(24	)		(167	)		(147	)		(124	)
Total		(22,224	)		(9,568	)		(9,337	)		(11,064	)		(4,624	)		(3,992	)		(33,288	)		(14,192	)		(13,329	)

Schedule of Finance Income


Finance income
in CHF thousands	For the Years Ended December 31,
	2022		2021		2020
Interest income		126		21		10
Total finance income		126		21		10

Schedule of Finance Expense


Finance expense
in CHF thousands	For the Years Ended December 31,
	2022			2021			2020
Interest expense accrued on Series B and C preferred shares		(6,343	)		(4,996	)		(2,560	)
Interests on lease liabilities		(45	)		(49	)		(50	)
Interest expense		(54	)		(75	)		(18	)
Total finance expense		(6,442	)		(5,120	)		(2,628	)

Schedule of Total Tax (Expense)


	For the Years Ended December 31,
in CHF thousands	2022			2021			2020
Current income tax (expense) / benefit		(90	)		(22	)		(1	)
Deferred tax (expense) / income		35			(5	)		(82	)
Total tax (expense) / income reported in the income statement		(55	)		(27	)		(83	)

Schedule of Reconciliation of Profit (Loss) Multiplied by Weighted Average Applicable Tax Rate


	For the Years Ended December 31,
in CHF thousands	2022			2021			2020
Groups average expected tax rate		13.9	%		13.6	%		13.6	%
Accounting loss before income tax		(38,643	)		(18,524	)		(14,790	)
Taxes at weighted average income tax		5,380			2,521			1,997
Effect of unrecorded tax losses		(4,468	)		(1,869	)		(1,732	)
Effect of non deductible expenses		(968	)		(679	)		(348	)
Total tax income / (expense) reported in the income statement		(55	)		(27	)		(83	)

Schedule of Group Reportable Losses Maturity

Below is the maturity of the Group reportable losses:


	As of December 31,
in CHF thousands	2022		2021
2025		16,733		16,733
2026		13,113		13,113
2027		12,437		12,437
2028		14,865		14,865
2029		31,790		-
Total		88,938		57,148

Schedule of Deductible Temporary Differences for which No Deferred Tax Asset is Recognised

The Group did not recognize the following temporary differences:


	As of December 31,
in CHF thousands	2022			2021
Pension		91			845
Tax losses in Switzerland		88,938			57,148
Leasing		(125	)		(85	)
Intangible asset		(4,025	)		(4,025	)
Total		84,879			53,883

Schedule of Deferred Taxes


	For the Years Ended December 31,
The balance sheet contains the following	2022		2021
Deferred tax assets		24		-
Deferred tax liabilities		-		(11	)

Property, Plant And Equipment (Tables)

12 Months Ended

Dec. 31, 2022

Disclosure of detailed information about property, plant and equipment [abstract]

Schedule of Property, Plant and Equipment Useful Life

The following tables present the movements in the net book values of property, plant and equipment:


in CHF thousands	Lab - equipment		Lab - fixtures and fittings		Office equipment & hardware		Total
Acquisition cost:
Balance as of December 31, 2020		540		195		88		823
Acquisitions		15		-		13		28
Balance as of December 31, 2021		555		195		101		851
Acquisitions		45		-		20		65
Balance as of December 31, 2022		600		195		121		916


	Lab - equipment			Lab - fixtures and fittings			Office equipment & hardware			Total
Accumulated depreciation:
Balance as of December 31, 2020		(246	)		(44	)		(41	)		(332	)
Depreciation expense		(59	)		(15	)		(14	)		(88	)
Balance as of December 31, 2021		(305	)		(59	)		(55	)		(420	)
Depreciation expense		(70	)		(28	)		(34	)		(132	)
Balance as of December 31, 2022		(375	)		(87	)		(89	)		(551	)

Carrying amount:
As of December 31, 2021		249			135			46			431
As of December 31, 2022		225			108			32			365

Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2022

Disclosure of detailed information about intangible assets [abstract]

Summarizes the Movement of Intangibles Assets

The following tables summarizes the movement of intangibles assets:


in CHF thousands	Licenses		Total
Acquisition cost:
Balance as of December 31, 2020		8,724		8,724
Additions		-		-
Balance as of December 31, 2021		8,724		8,724
Additions		3,482		3,482
Balance as of December 31, 2022		12,206		12,206

	Licenses		Total
Accumulated amortization:
Balance as of December 31, 2020		-		-
Amortization charge		-		-
Balance as of December 31, 2021		-		-
Amortization charge		-		-
Balance as of December 31, 2022		-		-

Carrying amount:
As of December 31, 2021		8,724		8,724
As of December 31, 2022		12,206		12,206

Right-of-use Assets and Lease Liabilities (Tables)

12 Months Ended

Dec. 31, 2022

Presentation of leases for lessee [abstract]

Schedule of Right-of-use Assets

The following table presents the right-of-use assets:


in CHF thousands	Right-of-use assets
	2022			2021
Balance as of January 1,		855			948
Indexation for the period		70			26
Addition/remeasurement/renewal of lease period Oculis SA office lease		-			28
Depreciation charge for the period		(167	)		(147	)
Balance as of December 31,		758			855

Schedule of Lease Obligations

The following table presents the lease obligations:


in CHF thousands	Lease liabilities
	2022			2021
Balance as of January 1,		(770	)		(833	)
Addition/remeasurement/renewal of lease period Oculis SA office lease		-			(28	)
FX revaluation		48			18
Indexation for the period		(70	)		(26	)
Interest expense for the period		(45	)		(49	)
Lease payments for the period		204			147
Balance as of December 31,		(633	)		(770	)


	As of December 31,
in CHF thousands	2022			2021
Current		(142	)		(193	)
Non-current		(491	)		(577	)
Total		(633	)		(770	)

Other Current Assets and Accrued Income (Tables)

12 Months Ended

Dec. 31, 2022

Current prepayments and current accrued income including current contract assets [abstract]

Summary of Other Current Assets

Other current assets:


	As of December 31,
in CHF thousands	2022		2021
Prepaid and other CMC, research and clinical expenses		1,586		674
Prepaid expenses		1,207		119
VAT		165		150
Other receivables		1		1
Total		2,959		944

Summary of Accrued Income

Accrued income:


in CHF thousands	Accrued income
	2022			2021
Balance as of January 1,		760			993
Accrued income recognized during the year		912			960
Payments received during the year		(726	)		(1,198	)
FX revaluation		(34	)		4
Balance as of December 31,		912			760

Pensions and Other Post Employment Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2022

Disclosure of information about defined benefit plans [abstract]

Summary of Components of Net Benefit Expense


in CHF thousands	For the Years Ended December 31,
Actuarial gains / (losses) recognized in other comprehensive loss:	2022		2021
On plan assets		26		18
On obligation		718		70
Total		744		88


in CHF thousands	For the Years Ended December 31,
Net benefit expense (recognized in personnel costs):	2022			2021
Current service cost		(446	)		(296	)
Interest cost on benefit obligation		(31	)		(8	)
Interest income		26			6
Impact of plan changes		37			151
Administration cost		(6	)		(3	)
Net benefit income / (expense)		(420	)		(150	)


in CHF thousands	As of December 31,
Benefit asset / (liability)	2022			2021
Defined benefit obligation		(6,494	)		(5,666	)
Fair value of plan assets		6,403			4,821
Net benefit asset / (liability)		(91	)		(845	)

Changes in Present Value of Defined Benefit Obligation

Changes in the present value of the defined benefit obligation are as follows:


	For the Years Ended December 31,
in CHF thousands	2022			2021
Defined benefit obligation at 1 January		(5,666	)		(5,231	)
Interest cost		(31	)		(8	)
Current service cost		(446	)		(296	)
Administrative expenses		(6	)		(3	)
Contributions paid by participants		(1,686	)		(1,702	)
Employees' contributions		(185	)		(126	)
Benefits deposited		770			1,479
Impact of plan changes		37			151
Actuarial gain on obligation		718			70
Defined benefit obligation at December 31,		(6,494	)		(5,666	)

Changes in the Fair Value of Plan Assets

Changes in the fair value of plan assets are as follows:


	For the Years Ended December 31,
in CHF thousands	2022			2021
Fair value of plan assets at 1 January		4,821			4,159
Expected return		26			6
Contributions by employer		429			289
Contributions by employees		185			126
Benefits paid from plan assets		(770	)		(1,479	)
Contributions paid by participants		1,686			1,702
Actuarial gains / (losses)		26			18
Fair value of plan assets at December 31,		6,403			4,821

Summary of Principal Assumptions used in Determining Pension Benefit Obligations for Group's Plan

The principal assumptions used in determining pension benefit obligations for the Group's plan are shown below:


	As of December 31,
		2022		2021
Discount rate		2.30	%		0.35	%
Future salary increases		1.20	%		1.00	%
Future pensions increases		0.00	%		0.00	%
Retirement age	M65/W64			M65/W64
Demographic assumptions	BVG 2020 GT			BVG 2020 GT

Schedule of Quantitative Sensitivity Analysis for Significant Assumptions

A quantitative sensitivity analysis for significant assumptions as of December 31, 2022 and 2021 is shown below:


in CHF thousands	Discount rate						Future salary increase						Mortality assumptions
Assumptions as of December 31, 2022	+0.25%			-0.25%			+0.50%			-0.50%			+1 year			-1 year
Potential defined benefit obligation		(6,274	)		(6,741	)		(6,527	)		(6,462	)		(6,553	)		(6,429	)
Decrease / (increase) from actual defined benefit obligation		221			(247	)		(32	)		32			(58	)		65

Assumptions as of December 31, 2021	+0.25%			-0.25%			+0.50%			-0.50%			+1 year			-1 year
Potential defined benefit obligation		(5,442	)		(5,922	)		(5,681	)		(5,652	)		(5,750	)		(5,614	)
Decrease / (increase) from actual defined benefit obligation		224			(256	)		(15	)		14			(84	)		52

Share Based Payment (Tables)

12 Months Ended

Dec. 31, 2022

Disclosure of terms and conditions of share-based payment arrangement [abstract]

Schedule of Weighted-Average Assumptions for Black-Scholes Option-Pricing Model Used

The following table illustrates the weighted-average assumptions for the Black-Scholes option-pricing model used in determining the fair value of these awards:


	For the Years Ended 31 December,
	2022			2021			2020
Exercise price	CHF 3.41			CHF 2.70			CHF 2.11 to 2.47
Share price (option-pricing model)	CHF 3.41			CHF 2.70			CHF 1.92 to 2.47
Risk free interest rate		0.74	%		0.00	%	(0.94%) to 0.00%
Expected term	2.5 years			2.5 years			2.5 to 5.5 years
Expected volatility		96.3	%		82.1	%	90.8-101%
Divdend yield		—			—			—

Summary of Number and Weighted Average Exercise Prices of Share-based Options

The number and weighted average exercise prices of share-based options under the Plan are as follows:


	Number of Options			Weighted Average Exercise Price (CHF)		Range of Expiration Dates
Oustanding at January 1, 2020		608,059			2.13	2026-2028
Forfeited during the year		(37,981	)		2.18	2027
Granted during the year		406,141			2.39	2027-2029
Oustanding at December 31, 2020		976,220		2.24		2026-2029

Exercisable at December 31, 2020		443,781			2.12	2026-2029

Oustanding at January 1,2021		976,220			2.24	2026-2029
Forfeited during the year		(147,607	)		2.39	2027-2028
Granted during the year		298,972			2.70	2030
Oustanding at December 31, 2021		1,127,585			2.34	2026-2030

Exercisable at December 31, 2021		664,192			2.17	2026-2030

Oustanding at January 1, 2022		1,127,585			2.34	2026-2030
Forfeited during the year		(82,445	)		2.69	2023-2030
Granted during the year		550,468			3.41	2031
Exercised during the year		(53,500	)		2.11
Oustanding at December 31, 2022		1,542,108			2.73	2027-2031

Exercisable at December 31, 2022		716,919			2.25	2027-2031

Summary of Number and Weighted Average Exercise Prices of Restricted Stock

The number and weighted average exercise prices of restricted stock under the Plan are as follows:


	Number of Restricted Stocks		Weighted Average Exercise Price (CHF)
Issued and exercised at January 1, 2020		571,783		1.79
Granted and exercised during the year		80,327		1.95
Issued and exercised at December 31, 2020		652,110		1.81
Not subject to repurchase at December 31,2020		472,502		1.80
Issued and exercised at January 1, 2021		652,110		1.81
Granted and exercised during the year		386,116		2.27
Issued and exercised at December 31, 2021		1,038,226		1.98
Not subject to repurchase at December 31, 2021		621,343		1.82
Issued and exercised at January 1, 2022		1,038,226		1.98
Issued and exercised at December 31, 2022		1,038,226		1.98
Not subject to repurchase at December 31, 2022		817,022		1.90

Summary of Payroll Expense Related to Restricted Stock


	For the Years Ended 31 December,
in CHF thousands	2022		2021			2020
Total payroll expense related to restricted stock		—		(951	)		170
Expense contributable towards restricted stock issuance		—		(828	)		148


	For the Years Ended 31 December,
in CHF thousands	2022		2021		2020
Fair value of restricted stock issued		—		876		157
Expense contributable towards restricted stock issuance		—		828		148
Grantee contributions for restricted stock issuance		—		48		9

Cash and Cash Equivalents (Tables)

12 Months Ended

Dec. 31, 2022

Cash and cash equivalents [abstract]

Summary of Cash Balances Held at Banks and in Currencies

Cash and cash equivalents consist primarily of cash balances held at banks and in the currencies:


	As of December 31,
in CHF thousands by currency	2022		2021
Swiss Franc		7,216		23,987
Iceland Krona		383		726
Euro		2,350		4,202
US Dollar		9,741		17,325
Other		96		37
Total		19,786		46,277

Long-Term Financial Liabilities (Tables)

12 Months Ended

Dec. 31, 2022

Disclosure of financial liabilities [abstract]

Summary of Long -Term Financial Liabilities

The movement of the long-term financial liability is illustrated below:


in CHF thousands	Series A shares		Series B shares		Series C shares			Total
Balance as of December 31, 2020		8,179		45,799		-			53,978
Issuance of shares		-		-		56,096			56,096
Transaction costs		-		-		(834	)		(834	)
Interest		-		2,770		2,226			4,996
FX revaluation		-		-		(734	)		(734	)
Balance as of December 31, 2021		8,179		48,569		56,754			113,502
Issuance of shares		-		-		2,030			2,030
Transaction costs		-		-		(54	)		(54	)
Interest		-		2,797		3,546			6,343
FX revaluation		-		-		628			628
Balance as of December 31, 2022		8,179		51,366		62,904			122,449

Share Capital, Share Premium and Treasury Shares (Tables)

12 Months Ended

Dec. 31, 2022

Disclosure Of Share Capital Share Premium And Treasury Shares [Abstract]

Schedule of Activities for Share Capital and Share Premium Accounts

The activities for share capital and share premium accounts in 2020, 2021 and 2022 are as follows:


	number of shares				in CHF thousands
	Common shares		Restricted stock awards		Share capital		Share premium
Balance as of December 31, 2019		2,315,045		571,783		289		9,476
Issuance of shares		-		80,327		8		149
Transaction costs		-		-		-		(15	)
Balance as of December 31, 2020		2,315,045		652,110		297		9,609
Issuance of shares		-		386,116		39		837
Transaction costs		-		-		-		(12	)
Balance as of December 31, 2021		2,315,045		1,038,226		335		10,434
Stock options exercised		53,500		-		5		115
Transaction costs		-		-		-		(9	)
Balance as of December 31, 2022		2,368,545		1,038,226		340		10,540

Trade Payables (Tables)

12 Months Ended

Dec. 31, 2022

Subclassifications of assets, liabilities and equities [abstract]

Summary of Trade Payables


	As of December 31,
in CHF thousands	2022			2021
Trade payables		(3,867	)		(824	)
Total		(3,867	)		(824	)

Accrued Expenses and Other Payables (Tables)

12 Months Ended

Dec. 31, 2022

Trade and other current payables [abstract]

Schedule of Accrued Expenses and Other Payables


	As of December 31,
in CHF thousands	2022			2021
Payroll related accrual		(2,249	)		(1,723	)
Accrued R&D expense		(4,805	)		(730	)
Accrued G&A expense		(956	)		(592	)
Total		(8,011	)		(3,045	)

Commitments and Contingencies (Tables)

12 Months Ended

Dec. 31, 2022

Disclosure of contingent liabilities [abstract]

Schedule of Research and Development Commitments


	As of December 31,
in CHF thousands	2022		2021
Within one year		12,145		13,307
Between one and five years		978		1,101
Total		13,123		14,408

Related Party Disclosures (Tables)

12 Months Ended

Dec. 31, 2022

Disclosure of transactions between related parties [abstract]

Summary of Key Management Including Board Of Directors And Executive Management Compensation

Key management, including the Board of Directors and the Executive Management compensation were:


in CHF thousands	For the Years Ended December 31,
	2022		2021		2020
Salaries and other short-term employee benefits		3,506		3,071		2,557
Payroll expenses related to restricted stock		-		951		170
Pension		227		264		293
Share-based compensation		535		251		259
Total		4,268		4,537		3,279

Financial Instruments / Risk Management (Tables)

12 Months Ended

Dec. 31, 2022

Disclosure of detailed information about financial instruments [abstract]

Schedule of Carrying Amounts of Financial Assets and Liabilities

The following table shows the carrying amounts of financial assets and liabilities:


in CHF thousands	As of December 31,
Financial assets	2022		2021
Financial assets - non-current		50		52
Other current assets (without prepaids)		166		151
Accrued income		912		760
Cash and cash equivalents		19,786		46,277
Total		20,914		47,240


in CHF thousands	As of December 31,
Financial liabilities	2022		2021
Trade payables		3,867		824
Accrued expenses and other payables		8,011		3,045
Lease liabilities		633		770
Long-term financial debt related to preferred shares/accrued dividend		122,449		113,502
Total		134,960		118,141

Schedule of Net Debt of Liabilities

Below is the net debt table of liabilities from financing activities:


in CHF thousands	Preferred shares			Leasing			Total
Net debt as of December 31, 2020		(53,978	)		(833	)		(54,811	)
Cashflows		(56,096	)		147			(55,948	)
Interest calculated on Series B & C shares		(4,996	)		-			(4,996	)
Transaction costs related to 2021		834			-			834
Oculis SA office lease addition/remeasurement		-			(28	)		(28	)
Interest calculated on leases		-			(49	)		(49	)
Indexation for the period		-			(26	)		(26	)
FX revaluation		735			18			753
Net debt as of December 31, 2021		(113,502	)		(770	)		(114,272	)
Cashflows		(2,030	)		204			(1,826	)
Interest calculated on Series B & C shares		(6,343	)		-			(6,343	)
Transaction costs related to 2022		54			-			54
Interest calculated on leases		-			(45	)		(45	)
Indexation for the period		-			(70	)		(70	)
FX revaluation		(628	)		48			(580	)
Net debt as of December 31, 2022		(122,449	)		(633	)		(123,082	)

Schedule of Sensitivity Changes in Exchange Rate

The following table demonstrates the sensitivity of reasonably possible changes in ISK, EUR, USD and HKD exchange rate on the Group net result or on equity:


	For the Years Ended / As of December 31,
in CHF thousands	2022						2021
Change in rate	Impact on loss			Impact on equity			Impact on loss			Impact on equity
+5% ISK		7			(16	)		(101	)		125
-5% ISK		(7	)		16			101			(125	)
+5% EUR		(4	)		99			(24	)		5
-5% EUR		4			(99	)		24			(5	)
+5% USD		7			138			(66	)		-
-5% USD		(7	)		(138	)		66			-
+5% HKD		-			(6	)		(1	)		(174	)
-5% HKD		-			6			1			174

Schedule of Financial Instruments Except Long Term Financial Liabilities and Lease Liabilities

All of the Company’s financial instruments, except long-term financial liabilities and the long-term portion of the lease liabilities are due within one year.


in CHF thousands	As of December 31, 2022		Less than one year		Over one year		As of December 31, 2021		Less than one year		Over one year
Trade payables		3,867		3,867		-		824		824		-
Accrued expenses and other payables		8,011		8,011		-		3,045		3,045		-
Long-term financial debt		170,988		-		170,988		167,113		-		167,113
Lease liability		743		149		594		845		199		646
Total		183,609		12,027		171,582		171,827		4,068		167,759

Loss Per Share (Tables)

12 Months Ended

Dec. 31, 2022

Earnings per share [abstract]

Schedule of Loss Per Share


	For the Years Ended December 31,
	2022			2021			2020
Net (loss) for the period attributable to Oculis shareholders - in CHF thousands		(38,698	)		(18,552	)		(14,873	)
Loss per share
Basic and diluted loss for the period attributable to equity holders - in CHF		(12.94	)		(6.68	)		(5.77	)
Weighted-average number of shares used to compute loss per share basic and diluted		2,989,434			2,777,589			2,579,385

Schedule of Potentially Dilutive Securities

Potentially dilutive securities that were not included in the diluted per share calculations because they would be anti-dilutive were as follows:


	For the Years Ended December 31,
	2022		2021		2020
Share options issued and outstanding		1,542,108		1,127,585		976,220
Restricted stock subject to repurchase		221,204		416,883		179,608
Total		1,763,312		1,544,468		1,155,828

Basis of Preparation And Changes to the Group's Accounting Policies - Additional Information (Details) SFr in Thousands	12 Months Ended
	Dec. 31, 2022 CHF (SFr)
Disclosure of Basis of Preparation and Changes to Group Accounting Policies [Line Items]
Transaction costs related to BCA	SFr 214
BCA [Member] \| Other Current Assets [Member]
Disclosure of Basis of Preparation and Changes to Group Accounting Policies [Line Items]
Capitalized transaction costs	SFr 600

Summary of Significant Accounting Policies - Additional Information (Details)	12 Months Ended
	Dec. 31, 2022 Segment Subsidiary
Disclosure Of Summary Of Significant Accounting Policies [Abstract]
Number of wholly owned subsidiaries \| Subsidiary	4
Number of group entities for consolidation \| Subsidiary	5
Number of managed and operated segments \| Segment	1
Number of reporting segments \| Segment	1

Summary of Significant Accounting Policies - Schedule of Useful Life of Property Plant and Equipment (Details)	12 Months Ended
	Dec. 31, 2022
Laboratory Equipment \| Top of Range
Disclosure Of Property Plant And Equipment [Line Items]
Property, plant and equipment useful life	7 years
Laboratory Equipment \| Bottom of Range
Disclosure Of Property Plant And Equipment [Line Items]
Property, plant and equipment useful life	5 years
Laboratory Fixtures and Fittings
Disclosure Of Property Plant And Equipment [Line Items]
Property, plant and equipment useful life	10 years
Office - IT Tools \| Top of Range
Disclosure Of Property Plant And Equipment [Line Items]
Property, plant and equipment useful life	3 years
Office - IT Tools \| Bottom of Range
Disclosure Of Property Plant And Equipment [Line Items]
Property, plant and equipment useful life	2 years
Office Furniture and Equipment
Disclosure Of Property Plant And Equipment [Line Items]
Property, plant and equipment useful life	5 years

Critical Accounting Estimates And Judgments - Additional Information (Details) - CHF (SFr)	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Disclosure Of Changes In Accounting Estimates [Line Items]
Deferred income tax assets	SFr 24,000
Unused Tax Losses
Disclosure Of Changes In Accounting Estimates [Line Items]
Deferred income tax assets	SFr 0	SFr 0	SFr 0

Segment Information - Schedule of Non-current Assets, Excluding Financial and Deferred Income Tax Assets by Geographic Area (Details) - CHF (SFr) SFr in Thousands	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Disclosure Of Operating Segments [Line Items]
Intangible assets	SFr 12,206	SFr 8,724	SFr 8,724
Property, plant & equipment	365	431
Right-of-use assets	758	855	SFr 948
Total	13,329	10,010
Others
Disclosure Of Operating Segments [Line Items]
Property, plant & equipment	3	2
Total	3	2
Switzerland
Disclosure Of Operating Segments [Line Items]
Intangible assets	12,206	8,724
Property, plant & equipment	24	29
Right-of-use assets		52
Total	12,230	8,805
Iceland
Disclosure Of Operating Segments [Line Items]
Property, plant & equipment	338	400
Right-of-use assets	758	803
Total	SFr 1,096	SFr 1,203

Income and Expenses - Additional Information (Details) - CHF (SFr) SFr in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income And Expenses [Line Items]
Government grant income	SFr 912	SFr 960	SFr 993
General and administrative expenses	11,064	4,624	3,992
Currency exchange gain (loss)	49	(193)	SFr 163
Gain (loss) from revaluation of Series C long-term liability	(628)	SFr 734
Currency exchange partially offset by net gain from revaluation of USD cash balances	SFr 581
Weighted average tax	13.90%	13.60%	13.60%
Foreign exchange differences spread over period	3 years
BCA [Member]
Income And Expenses [Line Items]
General and administrative expenses	SFr 3,400
Bottom of Range
Income And Expenses [Line Items]
Applicable tax rate	8.50%	8.50%	8.50%
Top of Range
Income And Expenses [Line Items]
Applicable tax rate	28.00%	28.00%	28.00%

Income and Expenses - Schedule of Operating Expenses (Details) - CHF (SFr) SFr in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Disclosure Of Attribution Of Expenses By Nature To Their Function [Line Items]
Research and Development Expenses	SFr (22,224)	SFr (9,568)	SFr (9,337)
General and Administrative Expenses	(11,064)	(4,624)	(3,992)
Operating expenses	(33,288)	(14,192)	(13,329)
Personnel Expense
Disclosure Of Attribution Of Expenses By Nature To Their Function [Line Items]
Research and Development Expenses	(4,608)	(4,407)	(3,826)
General and Administrative Expenses	(4,449)	(2,416)	(1,771)
Operating expenses	(9,057)	(6,823)	(5,597)
Payroll
Disclosure Of Attribution Of Expenses By Nature To Their Function [Line Items]
Research and Development Expenses	(4,313)	(4,189)	(3,612)
General and Administrative Expenses	(3,939)	(2,306)	(1,657)
Operating expenses	(8,252)	(6,495)	(5,269)
Share-based Compensation
Disclosure Of Attribution Of Expenses By Nature To Their Function [Line Items]
Research and Development Expenses	(295)	(218)	(214)
General and Administrative Expenses	(510)	(110)	(114)
Operating expenses	(804)	(328)	(328)
Operating Expenses
Disclosure Of Attribution Of Expenses By Nature To Their Function [Line Items]
Research and Development Expenses	(17,616)	(5,161)	(5,510)
General and Administrative Expenses	(6,615)	(2,208)	(2,221)
Operating expenses	(24,231)	(7,369)	(7,732)
External Service Providers
Disclosure Of Attribution Of Expenses By Nature To Their Function [Line Items]
Research and Development Expenses	(17,205)	(4,786)	(5,154)
General and Administrative Expenses	(2,294)	(1,681)	(1,744)
Operating expenses	(19,499)	(6,467)	(6,898)
Other Operating Expenses
Disclosure Of Attribution Of Expenses By Nature To Their Function [Line Items]
Research and Development Expenses	(184)	(189)	(167)
General and Administrative Expenses	(4,249)	(478)	(438)
Operating expenses	(4,433)	(667)	(606)
Depreciation of PPE
Disclosure Of Attribution Of Expenses By Nature To Their Function [Line Items]
Research and Development Expenses	(111)	(78)	(89)
General and Administrative Expenses	(20)	(10)	(15)
Operating expenses	(132)	(88)	(104)
Depreciation of Right-of-Use Assets
Disclosure Of Attribution Of Expenses By Nature To Their Function [Line Items]
Research and Development Expenses	(116)	(108)	(99)
General and Administrative Expenses	(52)	(39)	(24)
Operating expenses	SFr (167)	SFr (147)	SFr (124)

Income and Expenses - Schedule of Finance Income (Details) - CHF (SFr) SFr in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Analysis of income and expense [abstract]
Interest income	SFr 126	SFr 21	SFr 10
Total finance income	SFr 126	SFr 21	SFr 10

Income and Expenses - Schedule of Finance Expense (Details) - CHF (SFr) SFr in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Analysis of income and expense [abstract]
Interest expense accrued on Series B and C preferred shares	SFr (6,343)	SFr (4,996)	SFr (2,560)
Interests on lease liabilities	(45)	(49)	(50)
Interest expense	(54)	(75)	(18)
Total finance expense	SFr (6,442)	SFr (5,120)	SFr (2,628)

Income and Expenses - Schedule of Total Tax (Expense) (Details) - CHF (SFr) SFr in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Analysis of income and expense [abstract]
Current income tax (expense) / benefit	SFr (90)	SFr (22)	SFr (1)
Deferred tax (expense) / income	35	(5)	(82)
Total tax (expense) / income reported in the income statement	SFr (55)	SFr (27)	SFr (83)

- Definition

The aggregate amount included in the determination of profit (loss) for the period in respect of current tax and deferred tax. [Refer: Current tax expense (income); Deferred tax expense (income)]

+ References + Details

Income and Expenses - Schedule of Reconciliation of Profit (Loss) Multiplied by Weighted Average Applicable Tax Rate (Details) - CHF (SFr) SFr in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Analysis of income and expense [abstract]
Groups average expected tax rate	13.90%	13.60%	13.60%
Accounting loss before income tax	SFr (38,643)	SFr (18,524)	SFr (14,790)
Taxes at weighted average income tax	5,380	2,521	1,997
Effect of unrecorded tax losses	(4,468)	(1,869)	(1,732)
Effect of non deductible expenses	(968)	(679)	(348)
Total tax (expense) / income reported in the income statement	SFr (55)	SFr (27)	SFr (83)

- Definition

The aggregate amount included in the determination of profit (loss) for the period in respect of current tax and deferred tax. [Refer: Current tax expense (income); Deferred tax expense (income)]

+ References + Details

Income and Expenses - Schedule of Group Reportable Losses Maturity (Details) - CHF (SFr) SFr in Thousands	Dec. 31, 2022	Dec. 31, 2021
Maturity Of Group Reportable Losses [Line Items]
Total	SFr 88,938	SFr 57,148
2025
Maturity Of Group Reportable Losses [Line Items]
Total	16,733	16,733
2026
Maturity Of Group Reportable Losses [Line Items]
Total	13,113	13,113
2027
Maturity Of Group Reportable Losses [Line Items]
Total	12,437	12,437
2028
Maturity Of Group Reportable Losses [Line Items]
Total	14,865	SFr 14,865
2029
Maturity Of Group Reportable Losses [Line Items]
Total	SFr 31,790

Income and Expenses - Schedule of Deductible Temporary Differences for which No Deferred Tax Asset is Recognised (Details) - CHF (SFr) SFr in Thousands	Dec. 31, 2022	Dec. 31, 2021
Analysis of income and expense [abstract]
Pension	SFr 91	SFr 845
Tax losses in Switzerland	88,938	57,148
Leasing	(125)	(85)
Intangible asset	(4,025)	(4,025)
Total	SFr 84,879	SFr 53,883

Income and Expenses - Schedule of Deferred Taxes (Details) - CHF (SFr) SFr in Thousands	Dec. 31, 2022	Dec. 31, 2021
Analysis of income and expense [abstract]
Deferred tax assets	SFr 24
Deferred tax liabilities		SFr (11)

Property, Plant And Equipment - Schedule of Net Book Values of Property, Plant and Equipment (Detail) - CHF (SFr) SFr in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Disclosure Of Property Plant And Equipment [Line Items]
Property, plant and equipment at beginning of period	SFr 431
Property, plant and equipment at end of period	365	SFr 431
Acquisition cost
Disclosure Of Property Plant And Equipment [Line Items]
Property, plant and equipment at beginning of period	851	823
Acquisitions	65	28
Property, plant and equipment at end of period	916	851
Accumulated Depreciation
Disclosure Of Property Plant And Equipment [Line Items]
Property, plant and equipment at beginning of period	(420)	(332)
Depreciation expense	(132)	(88)
Property, plant and equipment at end of period	(551)	(420)
Laboratory Equipment
Disclosure Of Property Plant And Equipment [Line Items]
Property, plant and equipment at beginning of period	249
Property, plant and equipment at end of period	225	249
Laboratory Equipment \| Acquisition cost
Disclosure Of Property Plant And Equipment [Line Items]
Property, plant and equipment at beginning of period	555	540
Acquisitions	45	15
Property, plant and equipment at end of period	600	555
Laboratory Equipment \| Accumulated Depreciation
Disclosure Of Property Plant And Equipment [Line Items]
Property, plant and equipment at beginning of period	(305)	(246)
Depreciation expense	(70)	(59)
Property, plant and equipment at end of period	(375)	(305)
Laboratory Fixtures and Fittings
Disclosure Of Property Plant And Equipment [Line Items]
Property, plant and equipment at beginning of period	135
Property, plant and equipment at end of period	108	135
Laboratory Fixtures and Fittings \| Acquisition cost
Disclosure Of Property Plant And Equipment [Line Items]
Property, plant and equipment at beginning of period	195	195
Property, plant and equipment at end of period	195	195
Laboratory Fixtures and Fittings \| Accumulated Depreciation
Disclosure Of Property Plant And Equipment [Line Items]
Property, plant and equipment at beginning of period	(59)	(44)
Depreciation expense	(28)	(15)
Property, plant and equipment at end of period	(87)	(59)
Office Equipment & Hardware
Disclosure Of Property Plant And Equipment [Line Items]
Property, plant and equipment at beginning of period	46
Property, plant and equipment at end of period	32	46
Office Equipment & Hardware \| Acquisition cost
Disclosure Of Property Plant And Equipment [Line Items]
Property, plant and equipment at beginning of period	101	88
Acquisitions	20	13
Property, plant and equipment at end of period	121	101
Office Equipment & Hardware \| Accumulated Depreciation
Disclosure Of Property Plant And Equipment [Line Items]
Property, plant and equipment at beginning of period	(55)	(41)
Depreciation expense	(34)	(14)
Property, plant and equipment at end of period	SFr (89)	SFr (55)

Intangible Assets - Summarizes the Movement of Intangibles Assets (Details) - CHF (SFr) SFr in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Disclosure Of Intangible Assets [Line Items]
Beginning balance	SFr 8,724	SFr 8,724
Additions	3,482	0
Ending balance	12,206	8,724
Licences [member]
Disclosure Of Intangible Assets [Line Items]
Beginning balance	8,724	8,724
Additions	3,482	0
Ending balance	SFr 12,206	SFr 8,724

Intangible Assets - Additional Information (Details) - CHF (SFr)		12 Months Ended
	Jan. 29, 2022	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Disclosure of detailed information about intangible assets [abstract]
Increases license agreement payment		SFr 3,482,000
Upfront payment	SFr 3,000,000	3,000,000
Maximum reimbursement of development related cost	SFr 500,000
Reimbursement of development related cost		482,000
Impairment losses		SFr 0	SFr 0	SFr 0

Right-of-use Assets and Lease Liabilities - Schedule of Right-of-use Assets (Details) - CHF (SFr) SFr in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Presentation of leases for lessee [abstract]
Balance as of January 1,	SFr 855	SFr 948
Indexation for the period	70	26
Addition/remeasurement/renewal of lease period Oculis SA office lease		28
Depreciation charge for the period	(167)	(147)
Balance as of December 31,	SFr 758	SFr 855

Right-of-use Assets and Lease Liabilities - Schedule of Lease Obligations (Details) - CHF (SFr) SFr in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Presentation of leases for lessee [abstract]
Balance as of January 1,	SFr (770)	SFr (833)
Addition/remeasurement/renewal of lease period Oculis SA office lease		(28)
FX revaluation	48	18
Indexation for the period	(70)	(26)
Interest expense for the period	(45)	(49)	SFr (50)
Lease payments for the period	204	147
Balance as of December 31,	SFr (633)	SFr (770)	SFr (833)

Right-of-use Assets and Lease Liabilities - Schedule of Lease Obligations Classification (Details) - CHF (SFr) SFr in Thousands	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Presentation of leases for lessee [abstract]
Current	SFr (142)	SFr (193)
Non-current	(491)	(577)
Total	SFr (633)	SFr (770)	SFr (833)

Other Current Assets and Accrued Income - Summary of Other Current Assets (Details) - CHF (SFr) SFr in Thousands	Dec. 31, 2022	Dec. 31, 2021
Current prepayments and current accrued income including current contract assets [abstract]
Prepaid and other CMC, research and clinical expenses	SFr 1,586	SFr 674
Prepaid expenses	1,207	119
VAT	165	150
Other receivables	1	1
Total	SFr 2,959	SFr 944

Other Current Assets and Accrued Income - Additional Information (Details) SFr in Thousands, kr in Millions		12 Months Ended
	Mar. 11, 2020 ISK (kr)	Dec. 31, 2022 CHF (SFr)
Disclosure - Other Current Assets and Accrued Income - Additional Information (Details) [Line Items]
Capitalized transaction costs \| SFr		SFr 570
Outsourced Expenses	kr 200
Bottom of Range
Disclosure - Other Current Assets and Accrued Income - Additional Information (Details) [Line Items]
Percentage Of Possible Tax	20
Eligible Costs	kr 900
Top of Range
Disclosure - Other Current Assets and Accrued Income - Additional Information (Details) [Line Items]
Percentage Of Possible Tax	35
Eligible Costs	kr 1,100

Other Current Assets and Accrued Income - Summary of Accrued Income (Details) - CHF (SFr) SFr in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Current prepayments and current accrued income including current contract assets [abstract]
Balance as of January 1,	SFr 760	SFr 993
Accrued income recognized during the year	912	960
Payments received during the year	(726)	(1,198)
FX revaluation	(34)	4
Balance as of December 31,	SFr 912	SFr 760

Pensions and Other Post Employment Benefit Plans - Additional Information (Details) - CHF (SFr)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Disclosure Of Defined Benefit Plans [Line Items]
Group expects to contribute	SFr 431,000
Weighted average duration of defined benefit obligation	14 years	16 years 7 months 6 days
Assumption of discount rates	2.30%	0.35%	0.15%
Actuarial gain of defined benefit pension liabilities	SFr 719,000
Reduction of defined benefit pension liabilities	SFr 91,000	SFr 845,000
Assumption for future salary increases	1.20%	1.00%	1.00%
Estimated interest rate updated based on Swiss interest environment	2.30%
Applicable rate for converting mandatory savings	6.50%
Mandatory Retirement Savings
Disclosure Of Defined Benefit Plans [Line Items]
Guaranteed interest to be credited to employees savings	1.00%	1.00%
Supplementary Retirement Savings
Disclosure Of Defined Benefit Plans [Line Items]
Guaranteed interest to be credited to employees savings	0.25%
2023
Disclosure Of Defined Benefit Plans [Line Items]
Applicable rate for converting mandatory savings	6.20%
2024 and Subsequent Years
Disclosure Of Defined Benefit Plans [Line Items]
Applicable rate for converting mandatory savings	5.90%
Men
Disclosure Of Defined Benefit Plans [Line Items]
Retirement age	65 years	65 years
Applicable rate for converting supplementary savings	4.71%
Men \| 2023
Disclosure Of Defined Benefit Plans [Line Items]
Applicable rate for converting supplementary savings	4.49%
Men \| 2024 and Subsequent Years
Disclosure Of Defined Benefit Plans [Line Items]
Applicable rate for converting supplementary savings	4.49%
Women
Disclosure Of Defined Benefit Plans [Line Items]
Retirement age	64 years	64 years
Applicable rate for converting supplementary savings	4.76%
Women \| 2023
Disclosure Of Defined Benefit Plans [Line Items]
Applicable rate for converting supplementary savings	4.54%
Women \| 2024 and Subsequent Years
Disclosure Of Defined Benefit Plans [Line Items]
Applicable rate for converting supplementary savings	4.54%
Iceland Pension
Disclosure Of Defined Benefit Plans [Line Items]
Pension costs charges	SFr 112,000	SFr 117,000	SFr 127,000
French Retirement Plan
Disclosure Of Defined Benefit Plans [Line Items]
Pension costs charges	42,000	47,000	20,000
U.S Retirement Plan
Disclosure Of Defined Benefit Plans [Line Items]
Employer contributions	0	0	0
Hong Kong
Disclosure Of Defined Benefit Plans [Line Items]
Pension costs charges	SFr 4,000	SFr 0	SFr 0
Switzerland pension plan
Disclosure Of Defined Benefit Plans [Line Items]
Defined benefit plan, plan assets, insurance coverage parentage	100.00%

Pensions and Other Post Employment Benefit Plans - Summary of Components of Net Benefit Expense (Details) - CHF (SFr) SFr in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Disclosure of defined benefit plans [abstract]
On plan assets	SFr 26	SFr 18
On obligation	718	70
Total	744	88	SFr (115)
Current service cost	(446)	(296)
Interest cost on benefit obligation	(31)	(8)
Interest income	26	6
Impact of plan changes	37	151
Administration cost	(6)	(3)
Net benefit income / (expense)	(420)	(150)
Defined benefit obligation	(6,494)	(5,666)
Fair value of plan assets	6,403	4,821
Net benefit asset / (liability)	SFr (91)	SFr (845)

Pensions and Other Post Employment Benefit Plans - Changes in Present Value of Defined Benefit Obligation (Details) - CHF (SFr) SFr in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Disclosure Of Defined Benefit Plans [Line Items]
Defined benefit obligation at 1 January	SFr (5,666)
Interest cost	(31)	SFr (8)
Current service cost	(446)	(296)
Administrative expenses	(6)	(3)
Impact of plan changes	37	151
Actuarial gain on obligation	718	70
Defined benefit obligation at December 31,	(6,494)	(5,666)
Present Value of Defined Benefit Obligation
Disclosure Of Defined Benefit Plans [Line Items]
Defined benefit obligation at 1 January	(5,666)	(5,231)
Interest cost	(31)	(8)
Current service cost	(446)	(296)
Administrative expenses	(6)	(3)
Contributions paid by participants	(1,686)	(1,702)
Employees' contributions	(185)	(126)
Benefits deposited	770	1,479
Impact of plan changes	37	151
Actuarial gain on obligation	718	70
Defined benefit obligation at December 31,	SFr (6,494)	SFr (5,666)

Pensions and Other Post Employment Benefit Plans - Changes in the Fair Value of Plan Assets (Details) - CHF (SFr) SFr in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Disclosure Of Defined Benefit Plans [Line Items]
Fair value of plan assets at 1 January	SFr 4,821
Fair value of plan assets at December 31,	6,403	SFr 4,821
Plan Assets
Disclosure Of Defined Benefit Plans [Line Items]
Fair value of plan assets at 1 January	4,821	4,159
Expected return	26	6
Contributions by employer	429	289
Contributions by employees	185	126
Benefits paid from plan assets	(770)	(1,479)
Contributions paid by participants	1,686	1,702
Actuarial gains / (losses)	26	18
Fair value of plan assets at December 31,	SFr 6,403	SFr 4,821

Pensions and Other Post Employment Benefit Plans - Summary of Principal Assumptions used in Determining Pension Benefit Obligations for Group's Plan (Details)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Disclosure Of Defined Benefit Plans [Line Items]
Discount rate	2.30%	0.35%	0.15%
Future salary increases	1.20%	1.00%	1.00%
Future pensions increases	0.00%	0.00%
Demographic assumptions	BVG 2020 GT	BVG 2020 GT
Men
Disclosure Of Defined Benefit Plans [Line Items]
Retirement age	65 years	65 years
Women
Disclosure Of Defined Benefit Plans [Line Items]
Retirement age	64 years	64 years

Pensions and Other Post Employment Benefit Plans - Schedule of Quantitative Sensitivity Analysis for Significant Assumptions (Details) - CHF (SFr) SFr in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Disclosure Of Sensitivity Analysis For Actuarial Assumptions [Line Items]
Decrease / (increase) from actual defined benefit obligation	SFr 91	SFr 845
Discount Rate
Disclosure Of Sensitivity Analysis For Actuarial Assumptions [Line Items]
Assumptions, increase	0.25%	0.25%
Potential defined benefit obligation	SFr (6,274)	SFr (5,442)
Decrease / (increase) from actual defined benefit obligation	SFr 221	SFr 224
Assumptions, decrease	(0.25%)	(0.25%)
Potential defined benefit obligation	SFr (6,741)	SFr (5,922)
Decrease / (increase) from actual defined benefit obligation	SFr (247)	SFr (256)
Future Salary Increase
Disclosure Of Sensitivity Analysis For Actuarial Assumptions [Line Items]
Assumptions, increase	0.50%	0.50%
Potential defined benefit obligation	SFr (6,527)	SFr (5,681)
Decrease / (increase) from actual defined benefit obligation	SFr (32)	SFr (15)
Assumptions, decrease	(0.50%)	(0.50%)
Potential defined benefit obligation	SFr (6,462)	SFr (5,652)
Decrease / (increase) from actual defined benefit obligation	SFr 32	SFr 14
Mortality Assumptions
Disclosure Of Sensitivity Analysis For Actuarial Assumptions [Line Items]
Assumptions, period increase	1 year	1 year
Potential defined benefit obligation	SFr (6,553)	SFr (5,750)
Decrease / (increase) from actual defined benefit obligation	SFr (58)	SFr (84)
Assumptions, period decrease	1 year	1 year
Potential defined benefit obligation	SFr (6,429)	SFr (5,614)
Decrease / (increase) from actual defined benefit obligation	SFr 65	SFr 52

Share Based Payment - Additional Information (Details) SFr / shares in Units, SFr in Thousands	12 Months Ended
	Dec. 31, 2022 CHF (SFr) shares SFr / shares	Dec. 31, 2021 CHF (SFr) shares SFr / shares	Dec. 31, 2020 CHF (SFr) shares SFr / shares
Disclosure of range of exercise prices of outstanding share options [line items]
Number of shares, granted \| shares	550,468	298,972	406,141
Vesting period	4 years	4 years	4 years
Total expense recognized for share options granted \| SFr	SFr 804	SFr 328	SFr 328
Reserve for share-based payment \| SFr	SFr 2,771	SFr 1,967	SFr 1,640
Weighted average fair value at grant date per share	SFr 3.41	SFr 2.70	SFr 2.40
Bottom of Range
Disclosure of range of exercise prices of outstanding share options [line items]
Exercise prices of the outstanding awards	2.11	2.11	2.11
Top of Range
Disclosure of range of exercise prices of outstanding share options [line items]
Exercise prices of the outstanding awards	SFr 3.41	SFr 2.70	SFr 2.47

Share Based Payment - Schedule of Weighted-Average Assumptions for Black-Scholes Option-Pricing Model Used (Details) - SFr / shares	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Exercise price	SFr 3.41	SFr 2.70
Share price (option-pricing model)	SFr 3.41	SFr 2.70
Risk free interest rate	0.74%	0.00%
Expected term	2 years 6 months	2 years 6 months
Expected volatility	96.30%	82.10%
Bottom of Range
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Exercise price			SFr 2.11
Share price (option-pricing model)			SFr 1.92
Risk free interest rate			(0.94%)
Expected term			2 years 6 months
Expected volatility			90.80%
Top of Range
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Exercise price			SFr 2.47
Share price (option-pricing model)			SFr 2.47
Risk free interest rate			0.00%
Expected term			5 years 6 months
Expected volatility			101.00%

Share Based Payment - Summary of Number and Weighted Average Exercise Prices of Share-based Options (Details)	12 Months Ended
	Dec. 31, 2022 shares SFr / shares	Dec. 31, 2021 shares SFr / shares	Dec. 31, 2020 shares SFr / shares	Dec. 31, 2019 shares SFr / shares
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Number of Options, Outstanding beginning balance \| shares	1,127,585	976,220	608,059
Number of Options, Forfeited \| shares	(82,445)	(147,607)	(37,981)
Number of Options, Granted \| shares	550,468	298,972	406,141
Number of Options, Exercised \| shares	(53,500)
Number of Options, Outstanding ending balance \| shares	1,542,108	1,127,585	976,220	608,059
Number of Options, Exercisable \| shares	716,919	664,192	443,781
Weighted Average Exercise Price, Outstanding beginning balance \| SFr / shares	SFr 2.34	SFr 2.24	SFr 2.13
Weighted Average Exercise Price, Forfeited \| SFr / shares	2.69	2.39	2.18
Weighted Average Exercise Price, Granted \| SFr / shares	3.41	2.70	2.39
Weighted Average Exercise Price, Exercised \| SFr / shares	2.11
Weighted Average Exercise Price, Outstanding ending balance \| SFr / shares	2.73	2.34	2.24	SFr 2.13
Weighted Average Exercise Price, Exercisable \| SFr / shares	SFr 2.25	SFr 2.17	SFr 2.12
Forfeited shares expiration period			2027
Granted shares expiration period	2031	2030
Top of Range
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Outstanding shares expiration period	2031	2030	2029	2028
Forfeited shares expiration period	2030	2028
Granted shares expiration period			2029
Exercisable shares expiration period	2031	2030	2029
Bottom of Range
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Outstanding shares expiration period	2027	2026	2026	2026
Forfeited shares expiration period	2023	2027
Granted shares expiration period			2027
Exercisable shares expiration period	2027	2026	2026

Share Based Payment - Summary of Number and Weighted Average Exercise Prices of Restricted Stock (Details) - Restricted Stock - SFr / shares	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Number of restricted stocks issued and exercised beginning balance	1,038,226	652,110	571,783
Number of restricted stocks granted and exercised during the year		386,116	80,327
Number of restricted stocks issued and exercised ending balance	1,038,226	1,038,226	652,110
Number of restricted stocks not subject to repurchase	817,022	621,343	472,502
Weighted average exercise price issued and exercised beginning balance	SFr 1.98	SFr 1.81	SFr 1.79
Weighted average exercise price granted and exercised during the year		2.27	1.95
Weighted average exercise price issued and exercised ending balance	1.98	1.98	1.81
Weighted average exercise price not subject to repurchase	SFr 1.90	SFr 1.82	SFr 1.80

Share Based Payment - Summary of Payroll Expense Related to Restricted Stock (Details) - CHF (SFr) SFr in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Issuance of shares	SFr 2,030	SFr 56,096
Restricted Stock
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Total payroll expense related to restricted stock		(951)	SFr 170
Issuance of shares		828	148
Fair value of restricted stock issued		876	157
Grantee contributions for restricted stock issuance		SFr 48	SFr 9

Cash and Cash Equivalents - Summary of Cash Balances Held at Banks and in Currencies (Details) - CHF (SFr) SFr in Thousands	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Disclosure Of Cash And CashEquivalents By Currency LineItems
Cash and cash equivalents	SFr 19,786	SFr 46,277	SFr 4,952	SFr 12,152
Swiss Franc
Disclosure Of Cash And CashEquivalents By Currency LineItems
Cash and cash equivalents	7,216	23,987
Iceland Krona
Disclosure Of Cash And CashEquivalents By Currency LineItems
Cash and cash equivalents	383	726
Euro
Disclosure Of Cash And CashEquivalents By Currency LineItems
Cash and cash equivalents	2,350	4,202
US Dollar
Disclosure Of Cash And CashEquivalents By Currency LineItems
Cash and cash equivalents	9,741	17,325
Other
Disclosure Of Cash And CashEquivalents By Currency LineItems
Cash and cash equivalents	SFr 96	SFr 37

Long-Term Financial Liabilities - Additional Information (Details) SFr / shares in Units, $ / shares in Units, SFr in Thousands, $ in Millions		12 Months Ended
	Jul. 22, 2022 CHF (SFr) SFr / shares shares	Dec. 31, 2022 CHF (SFr) SFr / shares shares	Jul. 22, 2022 USD ($) $ / shares shares
Disclosure Of Financial Liabilities [Line Items]
Deemed interest accrued expense \| SFr		SFr 16,986
Accrued preferred dividend \| SFr		SFr 122,449
Preference Shares
Disclosure Of Financial Liabilities [Line Items]
Number of shares issued		12,712,863
Issued capital, preference shares \| SFr		SFr 1,350
A Series Preference Shares
Disclosure Of Financial Liabilities [Line Items]
Number of shares issued		1,623,793
Par value per share \| SFr / shares		SFr 0.10
Redemption option upon amount equivalent to investors investment interest	0.00%
B Series Preference Shares
Disclosure Of Financial Liabilities [Line Items]
Number of shares issued		5,191,512
Par value per share \| SFr / shares		SFr 0.10
Redemption option upon amount equivalent to investors investment interest	6.00%
C1a Series Preference Shares
Disclosure Of Financial Liabilities [Line Items]
Number of shares issued		5,699,813
Par value per share \| SFr / shares		SFr 0.10
C1b Series Preference Shares
Disclosure Of Financial Liabilities [Line Items]
Number of shares issued	197,745	197,745	197,745
Par value per share \| SFr / shares	SFr 0.50	SFr 0.50
Per share purchase price \| (per share)	SFr 10.27		$ 10.64
Series C Preference Shares
Disclosure Of Financial Liabilities [Line Items]
Issued capital, preference shares	SFr 2,000		$ 2.1
Redemption option upon amount equivalent to investors investment interest	8.00%
B Series Preferred Shares And C Series Preferred Shares
Disclosure Of Financial Liabilities [Line Items]
Preferred dividend payment interest	6.00%	6.00%

Long-Term Financial Liabilities - Summary of Long -Term Financial Liabilities (Details) - CHF (SFr) SFr in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Disclosure Of Financial Liabilities [Line Items]
Beginning balance	SFr 113,502	SFr 53,978
Issuance of shares	2,030	56,096
Transaction costs	(54)	(834)
Interest	6,343	4,996
FX revaluation	628	(734)
Ending balance	122,449	113,502
A Series Preference Shares
Disclosure Of Financial Liabilities [Line Items]
Beginning balance	8,179	8,179
Ending balance	8,179	8,179
B Series Preference Shares
Disclosure Of Financial Liabilities [Line Items]
Beginning balance	48,569	45,799
Interest	2,797	2,770
Ending balance	51,366	48,569
Series C Preference Shares
Disclosure Of Financial Liabilities [Line Items]
Beginning balance	56,754
Issuance of shares	2,030	56,096
Transaction costs	(54)	(834)
Interest	3,546	2,226
FX revaluation	628	(734)
Ending balance	SFr 62,904	SFr 56,754

Share Capital, Share Premium and Treasury Shares - Additional Information (Details) - CHF (SFr) SFr / shares in Units, SFr in Thousands	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2017
Disclosure Of Share Capital Share Premium And Treasury Shares [Line Items]
Number of shares	3,406,771
Share capital	SFr 340	SFr 335
Treasury Shares
Disclosure Of Share Capital Share Premium And Treasury Shares [Line Items]
Par value per share					SFr 1.00
Number of shares acquired					100,000
Restricted Stock
Disclosure Of Share Capital Share Premium And Treasury Shares [Line Items]
Number of shares	1,038,226
Par value per share	SFr 0.10
Common Shares
Disclosure Of Share Capital Share Premium And Treasury Shares [Line Items]
Number of shares	2,368,545	2,315,045	2,315,045	2,315,045
Par value per share	SFr 0.10
Number of shares in commercial register	4,000
Conditional Capital
Disclosure Of Share Capital Share Premium And Treasury Shares [Line Items]
Number of shares	1,443,829	1,849,784
Par value per share	SFr 0.10	SFr 0.10
Share capital	SFr 144	SFr 185

Share Capital, Share Premium and Treasury Shares - Schedule of Activities for Share Capital and Share Premium Accounts (Details) - CHF (SFr) SFr in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Disclosure Of Share Capital Share Premium And Treasury Shares [Line Items]
Ending balance, shares	3,406,771
Beginning balance	SFr (60,955)	SFr (43,654)	SFr (29,163)
Stock options exercised	120
Ending balance	(97,991)	(60,955)	(43,654)
Share capital
Disclosure Of Share Capital Share Premium And Treasury Shares [Line Items]
Beginning balance	335	297	289
Issuance of shares		39	8
Stock options exercised	5
Ending balance	340	335	297
Share premium
Disclosure Of Share Capital Share Premium And Treasury Shares [Line Items]
Beginning balance	10,434	9,609	9,476
Issuance of shares		837	149
Stock options exercised	115
Transaction costs	(9)	(12)	(15)
Ending balance	SFr 10,540	SFr 10,434	SFr 9,609
Restricted Stock Awards
Disclosure Of Share Capital Share Premium And Treasury Shares [Line Items]
Beginning balance, shares	1,038,226	652,110	571,783
Issuance of shares, shares		386,116	80,327
Ending balance, shares	1,038,226	1,038,226	652,110
Common Shares
Disclosure Of Share Capital Share Premium And Treasury Shares [Line Items]
Beginning balance, shares	2,315,045	2,315,045	2,315,045
Stock options exercised, shares	53,500
Ending balance, shares	2,368,545	2,315,045	2,315,045

Trade Payables - Summary of Trade Payables (Details) - CHF (SFr) SFr in Thousands	Dec. 31, 2022	Dec. 31, 2021
Subclassifications of assets, liabilities and equities [abstract]
Trade payables	SFr (3,867)	SFr (824)

Accrued Expenses and Other Payables - Schedule of Accrued Expenses and Other Payables (Details) - CHF (SFr) SFr in Thousands	Dec. 31, 2022	Dec. 31, 2021
Trade and other current payables [abstract]
Payroll related accrual	SFr (2,249)	SFr (1,723)
Accrued R&D expense	(4,805)	(730)
Accrued G&A expense	(956)	(592)
Total	SFr (8,011)	SFr (3,045)

Commitments and Contingencies - Additional Information (Details) € in Thousands, SFr in Thousands, $ in Millions			12 Months Ended
	Nov. 15, 2022 EUR (€) Package	Nov. 15, 2022 CHF (SFr) Package	Dec. 31, 2022 EUR (€)	Dec. 31, 2022 CHF (SFr)	Dec. 31, 2022 USD ($)	Dec. 31, 2019 CHF (SFr)	Dec. 31, 2019 USD ($)	Nov. 15, 2022 CHF (SFr)	Dec. 31, 2021 CHF (SFr)
Disclosure Of Contingent Liabilities [Line Items]
Commitments for external research projects net				SFr 13,123					SFr 14,408
Series A Shares
Disclosure Of Contingent Liabilities [Line Items]
Redemption option amount equivalent to investors investment accrued dividend and compound interest rate			0.00%	0.00%	0.00%
Redemption option amount equivalent to investors investment accrued dividend and compound interest amount				SFr 135,000
Series B Shares
Disclosure Of Contingent Liabilities [Line Items]
Redemption option amount equivalent to investors investment accrued dividend and compound interest rate			6.00%	6.00%	6.00%
Redemption option amount equivalent to investors investment accrued dividend and compound interest amount				SFr 135,000
Series C Shares
Disclosure Of Contingent Liabilities [Line Items]
Redemption option amount equivalent to investors investment accrued dividend and compound interest rate			8.00%	8.00%	8.00%
Redemption option amount equivalent to investors investment accrued dividend and compound interest amount				SFr 135,000
Commitments Related To Novartis License Agreement
Disclosure Of Contingent Liabilities [Line Items]
Non-refundable upfront fee paid						SFr 4,699
Additional upfront fee payable upon reaching milestone						89,700	$ 97.0
Commitments Related To Novartis License Agreement \| 2024
Disclosure Of Contingent Liabilities [Line Items]
First milestone payment						SFr 4,600	$ 5.0
Commitments Related to Accure License Agreement
Disclosure Of Contingent Liabilities [Line Items]
Non-refundable upfront fee paid				3,000
Additional upfront fee payable upon reaching milestone				103,600	$ 112.1
Reimbursed costs				483
Commitments Related to Rennes University Collaboration Research Agreement
Disclosure Of Contingent Liabilities [Line Items]
Payment of first contractual non refundable cost contribution			€ 27	27
Additional payment on milestones reached			€ 7,000	SFr 6,900
Commitments Related to Sandoz GMP Manufacturing Agreement
Disclosure Of Contingent Liabilities [Line Items]
Number of work packages \| Package	3	3
Project management fee	€ 1,890	SFr 1,871
Aggregate amount of payments committed	€ 7,293							SFr 7,219
Commitments Related to Sandoz GMP Manufacturing Agreement \| Process Optimization [Member]
Disclosure Of Contingent Liabilities [Line Items]
Percentage of project management fee	35.00%	35.00%
Commitments Related to Sandoz GMP Manufacturing Agreement \| Analytical Method Validation [Member]
Disclosure Of Contingent Liabilities [Line Items]
Percentage of project management fee	35.00%	35.00%

Commitments and Contingencies - Schedule of Research and Development Commitments (Details) - CHF (SFr) SFr in Thousands	Dec. 31, 2022	Dec. 31, 2021
Disclosure of contingent liabilities [abstract]
Within one year	SFr 12,145	SFr 13,307
Between one and five years	978	1,101
Total	SFr 13,123	SFr 14,408

Related Party Disclosures - Summary of Key Management Including Board Of Directors And Executive Management Compensation (Details) - CHF (SFr) SFr in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Disclosure of transactions between related parties [abstract]
Salaries and other short-term employee benefits	SFr 3,506	SFr 3,071	SFr 2,557
Payroll expenses related to restricted stock		951	170
Pension	227	264	293
Share-based compensation	535	251	259
Total	SFr 4,268	SFr 4,537	SFr 3,279

Financial Instruments / Risk Management - Schedule of Carrying Amounts of Financial Assets and Liabilities (Details) - CHF (SFr) SFr in Thousands	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Disclosure of detailed information about financial instruments [abstract]
Financial assets - non-current	SFr 50	SFr 52
Other current assets (without prepaids)	166	151
Accrued income	912	760	SFr 993
Cash and cash equivalents	19,786	46,277	4,952	SFr 12,152
Financial assets	20,914	47,240
Trade payables	3,867	824
Accrued expenses and other payables	8,011	3,045
Lease liabilities	633	770	833
Long-term financial debt related to preferred shares/accrued dividend	122,449	113,502	SFr 53,978
Financial liabilities	SFr 134,960	SFr 118,141

Financial Instruments / Risk Management - Schedule of Net Debt of Liabilities (Details) - CHF (SFr) SFr in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Disclosure Of Financial Instruments [Line Items]
Net debt beginning balance	SFr (114,272)	SFr (54,811)
Cashflows	(1,826)	(55,948)
Interest calculated on Series B & C shares	(6,343)	(4,996)
Transaction costs	54	834
Oculis SA office lease addition/remeasurement		(28)
Interests on lease liabilities	(45)	(49)	SFr (50)
Indexation for the period	(70)	(26)
FX revaluation	(580)	753
Net debt ending balance	(123,082)	(114,272)	(54,811)
Leasing
Disclosure Of Financial Instruments [Line Items]
Net debt beginning balance	(770)	(833)
Cashflows	204	147
Oculis SA office lease addition/remeasurement		(28)
Interests on lease liabilities	(45)	(49)
Indexation for the period	(70)	(26)
FX revaluation	48	18
Net debt ending balance	(633)	(770)	(833)
Preference Shares
Disclosure Of Financial Instruments [Line Items]
Net debt beginning balance	(113,502)	(53,978)
Cashflows	(2,030)	(56,096)
Interest calculated on Series B & C shares	(6,343)	(4,996)
Transaction costs	54	834
FX revaluation	(628)	735
Net debt ending balance	SFr (122,449)	SFr (113,502)	SFr (53,978)

Financial Instruments / Risk Management - Additional Information (Details) - CHF (SFr) SFr in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Disclosure Of Financial Instruments [Line Items]
Long-term financial debt	SFr 122,449	SFr 113,502	SFr 53,978
Fixed rate of preferred dividend deemed interest	6.00%
Level 2
Disclosure Of Financial Instruments [Line Items]
Fair value of financial debt issuance of preferred shares	SFr 115,707
Long-term financial debt	SFr 122,449	113,502
Level 2 \| Fair Value
Disclosure Of Financial Instruments [Line Items]
Long-term financial debt		SFr 107,187

Financial Instruments / Risk Management - Schedule of Sensitivity Changes in Exchange Rate (Details) - CHF (SFr) SFr in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Disclosure Of Financial Instruments [Line Items]
Impact on loss	SFr 49	SFr (193)	SFr 163
+5% ISK
Disclosure Of Financial Instruments [Line Items]
Impact on loss	7	(101)
Impact on equity	(16)	125
-5% ISK
Disclosure Of Financial Instruments [Line Items]
Impact on loss	(7)	101
Impact on equity	16	(125)
+5% EUR
Disclosure Of Financial Instruments [Line Items]
Impact on loss	(4)	(24)
Impact on equity	99	5
-5% EUR
Disclosure Of Financial Instruments [Line Items]
Impact on loss	4	24
Impact on equity	(99)	(5)
+5% USD
Disclosure Of Financial Instruments [Line Items]
Impact on loss	7	(66)
Impact on equity	138
-5% USD
Disclosure Of Financial Instruments [Line Items]
Impact on loss	(7)	66
Impact on equity	(138)
+5% HKD
Disclosure Of Financial Instruments [Line Items]
Impact on loss		(1)
Impact on equity	(6)	(174)
-5% HKD
Disclosure Of Financial Instruments [Line Items]
Impact on loss		1
Impact on equity	SFr 6	SFr 174

Financial Instruments / Risk Management - Schedule of Financial Instruments Except Long Term Financial Liabilities and Lease Liabilities (Details) - CHF (SFr) SFr in Thousands	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Disclosure Of Financial Instruments [Line Items]
Trade payables	SFr 3,867	SFr 824
Accrued expenses and other payables	8,011	3,045
Long-term financial debt	122,449	113,502	SFr 53,978
Lease liabilities	633	770	SFr 833
Total Liabilities	135,051	118,998
Liquidity Risk
Disclosure Of Financial Instruments [Line Items]
Trade payables	3,867	824
Accrued expenses and other payables	8,011	3,045
Long-term financial debt	170,988	167,113
Lease liabilities	743	845
Total Liabilities	183,609	171,827
Less than one year \| Liquidity Risk
Disclosure Of Financial Instruments [Line Items]
Trade payables	3,867	824
Accrued expenses and other payables	8,011	3,045
Lease liabilities	149	199
Total Liabilities	12,027	4,068
Over one year \| Liquidity Risk
Disclosure Of Financial Instruments [Line Items]
Long-term financial debt	170,988	167,113
Lease liabilities	594	646
Total Liabilities	SFr 171,582	SFr 167,759

Loss Per Share - Schedule of Loss Per Share (Details) - CHF (SFr) SFr / shares in Units, SFr in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Earnings per share [abstract]
Loss for the period	SFr (38,698)	SFr (18,552)	SFr (14,873)
Basic Loss per share
Basic, loss for the period attributable to equity holders	SFr (12.94)	SFr (6.68)	SFr (5.77)
Weighted-average number of shares used to compute loss per share basic	2,989,434	2,777,589	2,579,385
Diluted Loss per share
Diluted, loss for the period attributable to equity holders	SFr (12.94)	SFr (6.68)	SFr (5.77)
Weighted-average number of shares used to compute loss per share diluted	2,989,434	2,777,589	2,579,385

- Definition

The total of income less expenses from continuing and discontinued operations, excluding the components of other comprehensive income. [Refer: Other comprehensive income]

+ References

+ Details

Loss Per Share - Schedule of Potentially Dilutive Securities (Details) - shares	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Earnings per share [abstract]
Share options issued and outstanding	1,542,108	1,127,585	976,220
Restricted stock subject to repurchase	221,204	416,883	179,608
Total	1,763,312	1,544,468	1,155,828

Subsequent Events - Additional Information (Details) - Mar. 02, 2023 - Major Business Combination SFr / shares in Units, $ / shares in Units, SFr in Millions, $ in Millions	CHF (SFr) SFr / shares shares	USD ($) shares	USD ($) $ / shares
Disclosure of non-adjusting events after reporting period [line items]
Newly issued restricted shares	4,000,000	4,000,000
Proceeds from issuing shares	SFr 97.4	$ 103.7
Cash transferred	12.0		$ 12.8
PIPE investments and conversion	SFr 85.4		$ 90.9
Other PIPE investors considering deemed value per share \| (per share)	SFr 9.40		$ 10.00
Shareholders exercised their right to redeem amount	SFr 110.4		$ 117.5