v3.25.2
Share-based compensation (Tables)
6 Months Ended
Jun. 30, 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 June 30,Six Months Ended June 30,
2025202420252024
Research and development
$2,318 $2,172 $4,499 $4,152 
Selling, general and administrative $7,715 $7,828 $15,023 $14,812 
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 granted1,739,30529.50 
Awards exercised(307,208)20.26 
Awards forfeited (49,041)45.70 
Awards expired
(65,282)25.53 
Outstanding as of June 30, 202510,740,649$31.14 6.3 years$63,484 
Exercisable as of June 30, 20257,833,332$27.51 5.3 years$59,041 
Schedule of Assumptions used in Determining Fair Value of Stock Options
Awards granted in the three and six months ended June 30, 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 June 30,Six Months Ended June 30,
2025202420252024
Share price at grant date
$28.63 - $29.06
$46.05 - $62.94
$28.63 - $29.60
$46.05 - $70.05
Exercise price
$28.63 - $29.06
$46.05 - $62.94
$28.63 - $29.60
$46.05 - $70.05
Expected volatility
52.92% - 53.65%
55.24% - 57.04%
52.92% - 55.78%
55.24% - 66.17%
Expected life
5.5 years
5.5 years
5.5 years
5 years - 5.5 years
Risk free rate
3.94% - 4.12%
4.34% - 4.56%
3.94% - 4.41%
3.93% - 4.56%
Fair value
$15.11 - $15.27
$25.23 - $34.99
$15.11 - $16.21
$25.23 - $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 RSUsWeighted Average Grant Date Fair Value
Unvested and outstanding as of December 31, 2024
 $ 
Awards granted489,50229.59 
Awards vested — — 
Awards forfeited (9,509)29.60 
Unvested and outstanding as of June 30, 2025
479,993 $29.59