v3.26.1
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
CURRENT ASSETS:    
Cash and cash equivalents $ 433,295 $ 149,608
Restricted cash 425 379
Prepaid expenses and other current assets 41,954 41,503
Total current assets 475,674 191,490
NON-CURRENT ASSETS:    
Operating lease right-of-use assets 3,937 3,424
Deferred tax assets 4,555 3,751
Long-term prepaid expenses and other assets 20,395 11,684
Total assets 504,561 210,349
CURRENT LIABILITIES:    
Accounts payable 12,240 15,222
Accrued expenses and other liabilities 15,701 9,214
Debt, current portion 0 17,523
Operating lease liabilities - current 1,885 2,110
Warrant liabilities 337,459 203,726
Total current liabilities 367,285 247,795
NON-CURRENT LIABILITIES:    
Debt, non-current portion 50,727 14,110
Operating lease liabilities - non-current 2,016 1,292
Total liabilities 420,028 263,197
Commitments and contingencies (Note 9)
SHAREHOLDERS' EQUITY/(DEFICIT):    
Ordinary shares, £0.008 par value; 135,722,306 and 96,085,785 shares authorized, issued and outstanding at June 30, 2026 and December 31, 2025, respectively 1,401 973
Additional paid-in capital 1,083,059 783,562
Accumulated other comprehensive loss (14,741) (14,789)
Accumulated deficit (985,186) (822,594)
Total shareholders' equity/(deficit) 84,533 (52,848)
Total liabilities and shareholders' equity/(deficit) $ 504,561 $ 210,349