v3.26.1
Consolidated Statements of Changes in Equity (Deficit) Statement - USD ($)
$ in Thousands
Total
April 2023 Private Placement
September 2023 Private Placement
Ordinary shares
Ordinary shares
April 2023 Private Placement
Ordinary shares
September 2023 Private Placement
Share premium
Share premium
April 2023 Private Placement
Share premium
September 2023 Private Placement
Other capital reserves
Treasury shares
Accumulated deficit
Cumulative translation adjustments
Accumulated other comprehensive income (loss)
Beginning balance (in shares) at Dec. 31, 2022       193,426,478                    
Beginning balance at Dec. 31, 2022 $ 2,104     $ 2,306     $ 2,418     $ 62,870 $ 0 $ (65,099) $ (700) $ 309
Loss for the year (40,990)                     (40,990)    
Re-measurement gains (losses) on defined benefit plans | Previously stated (46)                         (46)
Re-measurement gains (losses) on defined benefit plans (46)                          
Foreign currency translation 97                       97  
Net gain (loss) on cash flow hedge (76)                         (76)
Total comprehensive income (loss) (41,015)                     (40,990) 97 (122)
Issue of shares in connection with the vesting of restricted shares awards (in shares)       5,520,010                    
Issue of shares in connection with the vesting of restricted shares awards 0     $ 60     (60)              
Issue of shares in private placement (in shares)         38,834,952 8,480,564                
Issue of equity in private placement   $ 20,000 $ 6,000   $ 423 $ 89   $ 19,577 $ 5,911          
Transaction costs (551)           (551)              
Reduction of issued capital 0           (12,727)         12,727    
Bridge loans from related party 205                 205        
Exercise of common warrants issued in July 2025 82                 82        
Share-based payments $ 7,104                 7,104        
Ending balance (in shares) at Dec. 31, 2023 246,262,004     246,262,004                    
Ending balance at Dec. 31, 2023 $ (6,071)     $ 2,878     14,568     70,261 0 (93,362) (603) 187
Loss for the year 57,567                     57,567    
Re-measurement gains (losses) on defined benefit plans | Previously stated (39)                         (39)
Re-measurement gains (losses) on defined benefit plans (39)                          
Foreign currency translation (158)                       (158)  
Net gain (loss) on cash flow hedge (183)                         (183)
Total comprehensive income (loss) 57,187                     57,567 (158) (222)
Issue of shares in connection with the vesting of restricted shares awards (in shares)       5,146,918                    
Issue of shares in connection with the vesting of restricted shares awards 0     $ 56     (56)              
Bridge loans from related party 153                 153        
Share-based payments $ 4,090                 4,090        
Ending balance (in shares) at Dec. 31, 2024 251,408,922     251,408,922                    
Ending balance at Dec. 31, 2024 $ 55,359     $ 2,934     14,512     74,504 0 (35,795) (761) (35)
Loss for the year (109,279)                     (109,279)    
Re-measurement gains (losses) on defined benefit plans 30                         30
Foreign currency translation 937                       937  
Net gain (loss) on cash flow hedge 113                         113
Total comprehensive income (loss) (108,199)                     (109,279) 937 143
Issue of shares in connection with the vesting of restricted shares awards (in shares)       8,923,730                    
Issue of shares in connection with the vesting of restricted shares awards 0     $ 100     (100)              
Issue of shares in private placement (in shares)       1,171,987,620                    
Issue of equity in private placement 164,079     $ 13,737     150,342              
Transaction costs (13,992)           (13,992)              
Exercise of common warrants issued in July 2025 ( in shares)       10,875,000                    
Exercise of common warrants issued in July 2025 1,522     $ 126     1,396              
Exercise of pre-funded warrants issued in July 2025 ) (in shares)       125,943,130                    
Exercise of pre-funded warrants issued in July 2025 30,998     $ 1,467     29,531              
Issuance of equity as payment of services related to private placement (in shares)       30,451,300                    
Issuance of shares in consideration for private placement services (Note 15) 4,263     $ 354     3,909              
Acquisition of treasury shares (Note 15) (9,363)                   (9,363)      
Share-based payments $ 3,011                 3,011        
Ending balance (in shares) at Dec. 31, 2025 1,599,589,702     1,599,589,702                    
Ending balance at Dec. 31, 2025 $ 127,678     $ 18,718     $ 185,598     $ 77,515 $ (9,363) $ (145,074) $ 176 $ 108