v3.26.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (287,862) $ (155,122)
Adjustments to reconcile net loss to net cash used in operating activities    
Depreciation 216 233
Non-cash interest 1,468 1,408
Non-cash gain (loss) on foreign currency remeasurement (1,152) 755
Non-cash share-based compensation 13,590 19,517
Non-cash lease expenses 2,410 2,300
Transaction costs allocated to warrants 5,778 0
Fair value change of warrant liabilities 122,561 0
Changes in operating assets and liabilities    
Prepaid expenses and other current assets (3,238) 3,220
Deferred and prepaid tax assets 23 686
Other assets (4,711) 135
Operating lease liabilities (2,452) (2,265)
Accounts payable 2,034 6,590
Accrued expenses and other liabilities (5,905) 3,357
Net cash used in operating activities (157,240) (119,186)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from issuance of ordinary shares and Pre-funded Warrants, net of issuance costs 140,357 26,219
Proceeds from the exercise of warrants 0 37,258
Proceeds from the vesting of restricted share units 1 0
Payments of withholding tax on stock award 0 (239)
Proceeds from the issuance of shares under the employee share purchase plan 319 365
Proceeds from exercise of options 35 221
Net cash provided by financing activities 140,712 63,824
Effect of exchange rate changes on cash, cash equivalents and restricted cash 1,045 194
Net (decrease)/increase in cash, cash equivalents and restricted cash (15,483) (55,168)
Cash, cash equivalents and restricted cash, beginning of the period 165,470 220,638
Cash, cash equivalents and restricted cash, end of the period 149,987 165,470
SUPPLEMENTAL CASH FLOW INFORMATION:    
Cash paid for interest 3,050 3,070
Cash paid for taxes 755 1,121
Supplemental Cash Flow Elements [Abstract]    
Cash and cash equivalents 149,608 165,081
Restricted cash 379 389
Total cash, cash equivalents and restricted cash $ 149,987 $ 165,470