v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Cash flows from operating activities    
Net loss $ (6,719) $ (12,887)
Adjustments to reconcile net loss to net cash used in operating activities:    
Share-based compensation 1,605 2,278
Depreciation 44 38
Amortization of intangible assets 127 106
Amortization of operating lease right-of-use assets 134 126
Change in fair value of warrants (17) (416)
Non-cash interest income (31) 0
Non-cash interest expense 12 175
Foreign currency transaction gain/(loss) (1,628) 2,765
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets 271 (268)
Research and development incentives receivable (95) 952
Accounts payable 1,957 362
Accrued expenses and other liabilities 229 (1,390)
Operating lease liabilities (201) (170)
Net cash used in operating activities (4,312) (8,329)
Cash flows from investing activities    
Payments for intangible assets (300) (300)
Purchase of property and equipment 0 (20)
Net cash used in investing activities (300) (320)
Cash flows from financing activities    
Proceeds from exercise of warrants 0 487
Transaction costs on issuance of ordinary shares 0 (65)
Net cash provided by financing activities 0 422
Decrease in cash and cash equivalents (4,612) (8,227)
Cash and cash equivalents at January 1, 40,992 69,802
Effect of exchange rate changes (157) 908
Cash and cash equivalents at March 31, 36,223 62,483
Supplemental disclosure    
Cash paid for interest $ 7 $ 7