v3.26.1
Consolidated Statement of Profit or Loss and Other Comprehensive Income - GBP (£)
£ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Consolidated Statement of Profit or Loss and Other Comprehensive Income      
Research and development expenses £ (71,991) £ (59,888) £ (65,373)
Administrative expenses (53,351) (43,411) (40,818)
Related party administrative expenses (276) (1,280) (83)
Other operating (expense)/income (1,825) 43,412 4,326
Operating loss (127,443) (61,167) (101,948)
Finance income 24,392 2,641 35,801
Finance costs (192) (34,946) (16,460)
Related party finance income/(costs) 305,830 (687,723)  
Net finance income/(costs) 330,030 (720,028) 19,341
Profit/(loss) before tax 202,587 (781,195) (82,607)
Income tax credit/(expense) 30,341 (45) 22,661
Net profit/(loss) for the year 232,928 (781,240) (59,946)
Other Comprehensive income:      
Change in fair value from own credit risk   22,293  
Foreign exchange translation differences 7,229 2,426 (6,881)
Total other comprehensive income/(loss) for the year 7,229 24,719 (6,881)
Total comprehensive income/(loss) for the year £ 240,157 £ (756,521) £ (66,827)
Basic earnings/(loss) per share £ 2.63 £ (38.46) £ (3.13)
Diluted loss per share £ (0.57) £ (38.46) £ (3.13)