v3.25.2
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 371,435 $ 471,388
Prepaid expenses and other current assets 14,040 14,024
Total current assets 385,475 485,412
Non-current assets:    
Property and equipment, net 2,690 3,081
Operating lease right-of-use assets 9,563 10,708
Deferred tax assets 0 43,239
Restricted cash, non-current 860 860
Other non-current assets 478 3,808
Total non-current assets 13,591 61,696
Total assets 399,066 547,108
Current liabilities:    
Accounts payable 12,198 7,770
Accrued research and development 10,929 13,428
Deferred revenue, current 5,100 8,850
Restructuring liability 30,330 0
Lease liability, current 2,853 2,610
Other current liabilities 6,397 15,843
Total current liabilities 67,807 48,501
Non-current liabilities:    
Deferred revenue, non-current 0 3,448
Lease liability, non-current 6,928 8,233
Total non-current liabilities 6,928 11,681
Total liabilities 74,735 60,182
Commitments and contingencies (Note 6)
Shareholders’ equity:    
Euro deferred shares, €22 nominal value: Authorized shares — 10,000 at June 30, 2025 and December 31, 2024 Issued and outstanding shares — none at June 30, 2025 and December 31, 2024 0 0
Ordinary shares, $0.01 par value: Authorized shares — 100,000,000 at June 30, 2025 and December 31, 2024. Issued and outstanding shares — 53,826,982 and 53,826,982 at June 30, 2025 and December 31, 2024, respectively 538 538
Additional paid-in capital 1,612,096 1,588,729
Accumulated deficit (1,288,303) (1,102,341)
Total shareholders’ equity 324,331 486,926
Total liabilities and shareholders’ equity $ 399,066 $ 547,108