​

​

Three months ended June 30, 

​

Six months ended June 30, 

​

2025

2024

​

2025

2024

​

​

(in thousands)

​

(in thousands)

Revenue

​

$

5,262

​

$

11,126

​

$

6,829

​

$

19,611

Less:

​

​

​

​

​

​

​

​

​

​

Employee related expenses

​

(14,525)

​

(22,665)

​

(28,741)

​

(47,048)

Laboratory and development expenses

​

​

(15,593)

​

​

(9,404)

​

​

(31,560)

​

​

(18,480)

Professional fees

​

​

(3,124)

​

​

(2,696)

​

​

(5,181)

​

​

(4,959)

Facility expenses

​

​

(1,704)

​

​

(4,624)

​

​

(3,371)

​

​

(9,763)

Consumables

​

​

(697)

​

​

(3,472)

​

​

(1,633)

​

​

(6,684)

Other segment items⁽¹⁾

​

​

(1,945)

​

​

(631)

​

​

(2,979)

​

​

(8,063)

Segment operating loss

​

​

(32,326)

​

​

(32,366)

​

​

(66,636)

​

​

(75,386)

Reconciliation

​

​

​

​

​

​

​

​

​

​

​

​

Depreciation and amortization expense

​

​

(3,630)

​

​

(2,670)

​

​

(8,157)

​

​

(5,299)

Share-based compensation expense

​

​

(5,084)

​

​

(6,880)

​

​

(9,494)

​

​

(14,071)

Fair value loss - contingent consideration

​

​

(2,254)

​

​

1,786

​

​

(3,470)

​

​

1,621

Foreign currency gains / (losses), net

​

​

18,638

​

​

(989)

​

​

25,810

​

​

(2,134)

Interest income

​

​

3,524

​

​

5,805

​

​

7,651

​

​

12,313

Interest expense - Royalty Financing Agreement

​

​

(13,770)

​

(12,438)

​

​

(27,079)

​

(24,839)

Interest expense - Hercules debt facility

​

​

(1,821)

​

​

(3,719)

​

​

(3,621)

​

​

(7,415)

Other reconciling items

​

​

(571)

​

​

(3,880)

​

​

4,561

​

​

(5,103)

Consolidated loss before income tax expense

​

$

(37,294)

​

$

(55,351)

​

$

(80,435)

​

$

(120,313)