v3.26.1
Share-based compensation (Tables)
3 Months Ended
Mar. 31, 2026
Share-Based Payment Arrangement [Abstract]  
Schedule of Share-based Compensation Expense Recorded in Consolidated Statements of Operations and Comprehensive Loss
The following table shows the total share-based compensation expense recorded in the Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) (in thousands):
Three Months Ended March 31,
20262025
Research and development
$2,572 $2,181 
Selling, general and administrative $3,730 $7,308 
Schedule of Number and Weighted Average Exercise Prices of Share Options Activity
The number and weighted average exercise prices of share options were as follows:
Number of Share OptionsWeighted Average Exercise PriceWeighted Average Remaining Contractual TermAggregate Intrinsic Value (in thousands)
Outstanding as of December 31, 202510,374,316$31.34 5.9 years$87,338 
Awards granted1,387,75532.45 
Awards exercised(27,334)22.76 
Awards forfeited (204,570)46.15 
Awards expired
(43,926)42.74 
Outstanding as of March 31, 202611,486,241$31.18 5.8 years$48,937 
Exercisable as of March 31, 20268,315,349$28.99 4.5 years$48,149 
Schedule of Assumptions Used in Determining Fair Value of Stock Options
Awards granted in the three months ended March 31, 2026 and 2025 have been valued using the Black-Scholes option pricing model. The assumptions used in the models for share options granted were as follows:
Three Months Ended March 31,
20262025
Share price at grant date
$32.38 - $34.71
$29.21 - $29.60
Exercise price
$32.38 - $34.71
$29.21 - $29.60
Expected volatility
51.08% - 53.52%
53.30% - 55.78%
Expected life
5.5 years
   5.5 years
Risk free rate
3.68% - 3.78%
4.14% - 4.41%
Fair value
$16.94 - $17.62
$15.70 - $16.21
Schedule of Number and Weighted Average Fair Value of RSUs Awards
The number and weighted average fair value of RSU awards were as follows:

Number of RSUs
Weighted Average Grant Date Fair Value
Unvested and outstanding as of December 31, 2025
496,156 $29.88 
Awards granted
557,68332.46 
Awards vested
(114,671)29.60 
Awards forfeited
(44,842)29.77 
Unvested and outstanding as of March 31, 2026
894,326 $31.53