v3.25.1
Share-based compensation (Tables)
3 Months Ended
Mar. 31, 2025
Share-Based Payment Arrangement [Abstract]  
Schedule of Share-based Compensation Expense Recorded in Consolidated Statements of Operations and Comprehensive Loss
The following table shows the total share-based compensation expense recorded in the Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) (in thousands):
Three Months Ended March 31,
20252024
Research and development
$2,181 $1,980 
Selling, general and administrative $7,308 $6,984 
Schedule of Number and Weighted Average Exercise Prices of Share Options Activity
The number and weighted average exercise prices of share options were as follows:
Number of Share OptionsWeighted Average Exercise PriceWeighted Average Remaining Contractual TermAggregate Intrinsic Value (in thousands)
Outstanding as of December 31, 20249,422,875$31.14 6.0 years$50,455 
Awards granted1,529,15929.57 
Awards exercised(119,749)21.34 
Awards forfeited (13,193)56.49 
Awards expired
(7,176)48.79 
Outstanding as of March 31, 202510,811,916$30.99 6.4 years$50,832 
Exercisable as of March 31, 20257,817,348$26.56 5.4 years$49,489 
Schedule of Assumptions used in Determining Fair Value of Stock Options
Awards granted in the three months ended March 31, 2025 and 2024 have been valued using the Black-Scholes option pricing model. The assumptions used in the models for share options granted were as follows:
Three Months Ended March 31,
20252024
Share price at grant date
$29.21 - $29.60
$67.51 - $70.50
Exercise price
$29.21 - $29.60
$67.51 - $70.50
Expected volatility
53.30% - 55.78%
59.94% - 66.17%
Expected life
5.5 years
5 years - 5.5 years
Risk free rate
4.14% - 4.41%
3.93% - 4.30%
Fair value
$15.70 - $16.21
$39.50 - $40.47
Schedule of Number and Weighted Average Fair Value of RSUs Activity
The number and weighted average fair value of RSUs were as follows:

Number of RSUs
Weighted Average Grant Date Fair Value
Unvested and outstanding as of December 31, 2024
 $ 
Awards granted
485,14029.60 
Awards vested
— — 
Awards forfeited
— — 
Unvested and outstanding as of March 31, 2025
485,140 $29.60