v3.25.2
CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY - USD ($)
shares in Thousands, $ in Thousands
Common shares
Additional Paid-In Capital
Accumulated Other Comprehensive Income (Loss)
Accumulated Deficit
Total
Beginning balance at Dec. 31, 2023 $ 14 $ 659,003 $ 521 $ (206,572) $ 452,966
Beginning balance (in shares) at Dec. 31, 2023 139,220        
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Issuance of ordinary shares upon exercise of vested share options   755     755
Issuance of ordinary shares upon exercise of vested share options (in shares) 635        
Share-based compensation expense   2,744     2,744
Unrealized loss on investments, net     (611)   (611)
Net loss       (26,036) (26,036)
Ending balance at Mar. 31, 2024 $ 14 662,502 (90) (232,608) 429,818
Ending balance (in shares) at Mar. 31, 2024 139,855        
Beginning balance at Dec. 31, 2023 $ 14 659,003 521 (206,572) 452,966
Beginning balance (in shares) at Dec. 31, 2023 139,220        
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Unrealized loss on investments, net         (1,008)
Net loss         (52,070)
Ending balance at Jun. 30, 2024 $ 17 1,180,144 (487) (258,642) 921,032
Ending balance (in shares) at Jun. 30, 2024 171,589        
Beginning balance at Mar. 31, 2024 $ 14 662,502 (90) (232,608) 429,818
Beginning balance (in shares) at Mar. 31, 2024 139,855        
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Issuance of ordinary shares upon Follow-On Offering, net of issuance costs and underwriting discounts $ 3 512,727     512,730
Issuance of ordinary shares upon Follow-On Offering, net of issuance costs and underwriting discounts (in shares) 31,281        
Issuance of ordinary shares upon exercise of vested share options   478     478
Issuance of ordinary shares upon exercise of vested share options (in shares) 427        
Issuance of ordinary shares pursuant to employee share purchase plan   241     241
Issuance of ordinary shares pursuant to employee share purchase plan (in shares) 26        
Share-based compensation expense   4,196     4,196
Unrealized loss on investments, net     (397)   (397)
Net loss       (26,034) (26,034)
Ending balance at Jun. 30, 2024 $ 17 1,180,144 (487) (258,642) 921,032
Ending balance (in shares) at Jun. 30, 2024 171,589        
Beginning balance at Dec. 31, 2024 $ 17 1,193,010 914 (329,098) 864,843
Beginning balance (in shares) at Dec. 31, 2024 171,860        
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Issuance of ordinary shares upon exercise of vested share options   965     965
Issuance of ordinary shares upon exercise of vested share options (in shares) 644        
Issuance of ordinary shares upon vesting of restricted share units (in shares) 134        
Shares withheld for taxes   (156)     (156)
Shares withheld for taxes (in shares) (28)        
Share-based compensation expense   5,918     5,918
Unrealized loss on investments, net     (99)   (99)
Net loss       (46,833) (46,833)
Ending balance at Mar. 31, 2025 $ 17 1,199,737 815 (375,931) 824,638
Ending balance (in shares) at Mar. 31, 2025 172,610        
Beginning balance at Dec. 31, 2024 $ 17 1,193,010 914 (329,098) 864,843
Beginning balance (in shares) at Dec. 31, 2024 171,860        
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Unrealized loss on investments, net         (552)
Net loss         (108,494)
Ending balance at Jun. 30, 2025 $ 17 1,209,294 362 (437,592) 772,081
Ending balance (in shares) at Jun. 30, 2025 172,700        
Beginning balance at Mar. 31, 2025 $ 17 1,199,737 815 (375,931) 824,638
Beginning balance (in shares) at Mar. 31, 2025 172,610        
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Issuance of ordinary shares upon exercise of vested share options   43     43
Issuance of ordinary shares upon exercise of vested share options (in shares) 22        
Issuance of ordinary shares pursuant to employee share purchase plan   474     474
Issuance of ordinary shares pursuant to employee share purchase plan (in shares) 68        
Depository issuance cost offset   1,531     1,531
Share-based compensation expense   7,509     7,509
Unrealized loss on investments, net     (453)   (453)
Net loss       (61,661) (61,661)
Ending balance at Jun. 30, 2025 $ 17 $ 1,209,294 $ 362 $ (437,592) $ 772,081
Ending balance (in shares) at Jun. 30, 2025 172,700