v3.25.2
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (56,267) $ (73,288)
Adjustments to reconcile net loss to net cash used in operating activities    
Depreciation 195 124
Non-cash interest 768 677
Non-cash (gain)/loss on foreign currency remeasurement (1,885) 356
Non-cash share-based compensation 7,531 10,050
Non-cash lease expenses 1,169 1,102
Transaction costs allocated to warrants 5,778 0
Fair value change of warrant liabilities (16,920) 0
Changes in operating assets and liabilities    
Prepaid expenses and other current assets (14,369) 3,202
Deferred and prepaid tax assets (515) 437
Other assets (1,445) 637
Operating lease liabilities (1,174) (1,082)
Accounts payable (2,337) 2,346
Accrued expenses and other liabilities (4,875) 195
Net cash used in operating activities (84,346) (55,244)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from issuance of ordinary shares and Pre-funded Warrants, net of issuance costs 140,357 26,219
Proceeds from the exercise of warrants 0 37,258
Payments of withholding tax on stock award 0 (185)
Proceeds from issuance of shares under the employee share purchase plan 157 210
Proceeds from exercise of options 11 220
Net cash provided by financing activities 140,525 63,722
Effect of exchange rate changes on cash, cash equivalents and restricted cash 611 (99)
Net increase in cash, cash equivalents and restricted cash 56,790 8,379
Cash, cash equivalents and restricted cash, beginning of the period 165,470 220,638
Cash, cash equivalents and restricted cash, end of the period 222,260 229,017
Reconciliation of the cash, cash equivalents and restricted cash    
Cash and cash equivalents 221,881 228,628
Restricted cash 379 389
Total cash, cash equivalents and restricted cash $ 222,260 $ 229,017