v3.26.1
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
CURRENT ASSETS:    
Cash and cash equivalents $ 466,010 $ 149,608
Restricted cash 379 379
Prepaid expenses and other current assets 44,478 41,503
Total current assets 510,867 191,490
NON-CURRENT ASSETS:    
Operating lease right-of-use assets 2,861 3,424
Deferred tax assets 4,098 3,751
Long-term prepaid expenses and other assets 13,913 11,684
Total assets 531,739 210,349
CURRENT LIABILITIES:    
Accounts payable 10,877 15,222
Accrued expenses and other liabilities 8,984 9,214
Debt, current portion 0 17,523
Operating lease liabilities - current 2,054 2,110
Warrant liabilities 131,882 203,726
Total current liabilities 153,797 247,795
NON-CURRENT LIABILITIES:    
Debt, non-current portion 50,476 14,110
Operating lease liabilities - non-current 779 1,292
Total liabilities 205,052 263,197
Commitments and contingencies (Note 10)
SHAREHOLDERS' EQUITY/(DEFICIT):    
Ordinary shares, £0.008 par value; 134,923,295 and 96,085,785 shares authorized, issued and outstanding at March 31, 2026 and December 31, 2025, respectively 1,393 973
Additional paid-in capital 1,071,481 783,562
Accumulated other comprehensive loss (14,795) (14,789)
Accumulated deficit (731,392) (822,594)
Total shareholders' equity/(deficit) 326,687 (52,848)
Total liabilities and shareholders' equity/(deficit) $ 531,739 $ 210,349