v3.26.1
Consolidated Balance Sheets - USD ($)
Dec. 31, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 104,132,000 $ 227,380,000
Marketable securities - Available-for-sale debt securities 196,578,000 360,643,000
Restricted cash 1,503,000 1,425,000
Accounts receivable, net 24,024,000 15,000
Inventories, net 33,209,000 4,138,000
Prepaid expenses and other current assets 76,469,000 67,328,000
Total current assets 435,915,000 660,929,000
Non-current assets:    
Property and equipment, net 63,563,000 49,553,000
Intangible assets, net 19,809,000 12,373,000
Prepaid expenses and other non-current assets 249,000 170,000
Operating lease right-of-use assets, net 64,940,000 55,498,000
Long-term deposits 1,032,000 963,000
Deferred tax asset 3,560,000 3,239,000
Total assets 589,068,000 782,725,000
Current liabilities:    
Accounts payable 3,083,000 1,969,000
Accrued expenses and other liabilities 55,792,000 52,276,000
Operating lease liabilities, current 4,565,000 2,998,000
Liabilities related to future royalties and milestones, net - current 10,000,000 3,500,000
Total current liabilities 73,440,000 60,743,000
Non-current liabilities:    
Operating lease liabilities, non-current 66,822,000 49,631,000
Liabilities related to future royalties and milestones, net - non-current 270,200,000 244,600,000
Other long-term payables 477,000 426,000
Total liabilities 410,939,000 355,400,000
Commitments and contingencies
Shareholders' equity:    
Additional paid-in capital 1,570,107,000 1,555,593,000
Accumulated other comprehensive loss (5,356,000) (29,174,000)
Accumulated deficit (1,386,752,000) (1,099,224,000)
Total shareholders' equity 178,129,000 427,325,000
Total liabilities and shareholders' equity 589,068,000 782,725,000
Ordinary shares    
Shareholders' equity:    
Ordinary and deferred shares, value 12,000 12,000
Deferred Shares    
Shareholders' equity:    
Ordinary and deferred shares, value 0 0
Deferred B shares    
Shareholders' equity:    
Ordinary and deferred shares, value 118,000 118,000
Deferred C Shares    
Shareholders' equity:    
Ordinary and deferred shares, value $ 0 $ 0