v3.25.3
Other Current Assets
 9 Months Ended
Sep. 30, 2025
Other Current Assets [Abstract]  
Other Current Assets
Note 4: Other Current Assets
Other current assets consisted of the following:
September 30, 2025December 31, 2024
Research tax credit5,238 3,980 
VAT assets9,416 4,452 
Prepaid expenses3,071 1,541 
Other receivables1,320 1,959 
Total19,045 11,932 
Research tax credit
The variance in Research Tax Credit is presented as follows:
Amount in thousands of US dollars
Opening research tax credit receivable as of January 1, 20253,980 
Operating income4,991 
- Payment received (4,285)
- Adjustment and currency translation effect552 
Closing research tax credit receivable as of September 30, 20255,238 
Of which - Non-current portion— 
Of which - Current portion5,238 
The estimated research tax credit for the first nine months ended September 30, 2025 amounts to $5.0 million.
The VAT assets are primarily related to the VAT as well as the reimbursement of VAT that has been requested. Prepaid expenses are comprised primarily of insurance expenses, as well as legal and scientific consulting fees.