v3.26.1
Share-Based Compensation Expense
3 Months Ended
Mar. 31, 2026
Share-Based Payment Arrangement [Abstract]  
Share-Based Compensation Expense Share-Based Compensation Expense
Share Option, Restricted Share Units and Performance Share Units
During the three months ended March 31, 2026, the Company granted restricted share units for 778,817 ordinary shares under the Company’s share option and incentive plan. As of March 31, 2026, options, restricted share units, and performance share units for ordinary shares outstanding totaled 47,017,959, 74,129,393, and 4,551,157, respectively. As of March 31, 2026, share-based awards to acquire 61,363,925 ordinary shares were available for future grant under the Company’s share option and incentive plan.
Employee Share Purchase Plan
The Company’s employee share purchase plan (the “ESPP”) allows eligible employees to purchase the Company’s ordinary shares (including in the form of ADSs) at the end of each offering period, which will generally be six months, at a 15% discount to the market price of the Company’s ADSs at the beginning or the end of each offering period, whichever is lower, using funds deducted from their payroll during the offering period. Eligible employees are able to authorize payroll deductions of up to 10% of their eligible earnings, subject to applicable limitations.
As of March 31, 2026, 2,438,481 ordinary shares were available for future issuance under the ESPP.
The following table summarizes the shares issued under the ESPP:
Number of Ordinary Shares Issued
Market Price1
Purchase Price2
Issuance DateADSOrdinaryADSOrdinaryProceeds
February 28, 2026741,299 $316.99 $24.38 $269.44 $20.73 $15,364 
August 31, 2025818,506 $245.53 $18.89 $208.70 $16.05 $13,140 
February 28, 2025955,396 $188.26 $14.48 $160.02 $12.31 $11,760 
1 The market price is the lower of the closing price on the Nasdaq Stock Market on the issuance date or the offering date, in accordance with the terms of the ESPP.
2 The purchase price is the price which was discounted from the applicable market price, in accordance with the terms of the ESPP.
Share-Based Compensation Expense
The following table summarizes total share-based compensation expense recognized for the three months ended March 31, 2026 and 2025:
 Three Months Ended
 March 31,
 20262025
 $$
Research and development53,856 41,767 
Selling, general and administrative69,492 53,684 
Total123,348 95,451