v3.26.1
Unaudited condensed consolidated interim statement of cash flows - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Cash flows from operating activities    
Loss for the period $ (18,967) $ (10,812)
Depreciation 91 76
Share-based compensation expense 1,831 1,635
Finance income (2,194) (2,759)
Finance expense 84 178
Movement of expected credit loss (1) 19
Foreign exchange loss 2,329 642
Movement in working capital 2,961 213
Cash flows used in operating activities (13,866) (10,808)
Finance expense paid (1) (172)
Finance income received 3,198 2,407
Net cash used in operating activities (10,669) (8,573)
Cash flows from investing activities    
Purchase of property, plant and equipment (63) (4)
Proceeds from sale of other financial assets 0 7,000
Proceeds from redemptions and disposals of marketable securities 8,700 4,842
Cash flows from investing activities 8,637 11,838
Cash flows from financing activities    
Payment of lease liability (70) 0
Proceeds from share issuances 72 150,000
Transaction costs from share issuances 0 (9,142)
Net cash flows from financing activities 2 140,858
Net (decrease)/increase in cash and cash equivalents (2,030) 144,123
Cash and cash equivalents at the beginning of the period 246,251 100,791
Impact of foreign exchange on cash and cash equivalents (1,569) 40
Cash and cash equivalents at the end of the period $ 242,652 $ 244,954