v3.25.4
Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Current assets    
Cash and cash equivalents $ 11,277 $ 121,330
Short-term investments 73,837 26,004
R&D benefit receivable 22,007 24,396
Other current assets 11,537 14,664
Trade receivables 0 972
Total current assets 118,658 187,366
Property, plant and equipment, net 1,581 1,818
Operating lease right-of-use asset 167 157
Goodwill 10,621 9,392
Intangible assets 288 312
Other long-term assets 127 3,590
Total assets 131,442 202,635
Current liabilities    
Contract liabilities (168) (306)
Trade and other payables (13,356) (16,399)
Operating lease liabilities, current (89) (117)
Total current liabilities (13,613) (16,822)
Contract liabilities (55,454) (51,790)
Operating lease liabilities, long-term (71) 0
Total liabilities (69,138) (68,612)
Commitments and contingencies (Note 21)
Shareholders' equity    
Ordinary shares - par value &#0.05 per share; 141,701,848 shares issued at December 31, 2025 (2024: 141,674,074) (10,290) (10,288)
Additional paid-in capital (617,562) (609,560)
Accumulated deficit 562,572 474,044
Accumulated other comprehensive loss 2,976 11,781
Total shareholders' equity (62,304) (134,023)
Total liabilities and shareholders' equity $ (131,442) $ (202,635)