v3.26.1
Expenses by nature (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Research and development [Abstract]        
External research and development expenses [1] $ 8,241 $ 6,101 $ 16,786 $ 11,568
Employee expenses [2],[3] 4,158 2,857 7,992 5,242
Total research and development expenses [4] 12,399 8,958 24,778 16,810
General and administrative [Abstract]        
External costs [1] 4,976 3,769 9,240 6,708
Employee expenses [3],[5] 2,080 1,977 4,186 3,918
Total general and administrative expenses [4] 7,056 5,746 13,426 10,626
Total operating expenses 19,455 14,704 38,204 27,436
Share based compensation expense (benefit) included in employees expenses for employees in research and development department 1,300 800 2,200 1,500
Share-based compensation expense (benefit) included in employees expenses for employees in general and administrative department 900 1,000 1,800 2,000
Foreign exchange gain/loss [Abstract]        
Foreign exchange gain/loss $ 1,728 $ 2,502 $ (601) $ 1,860
[1] Includes depreciation expense.
[2] Included in employee expenses is share-based compensation expense of $1.3 million and $2.2 million for the three and six months ended June 30, 2026, respectively, relating to employees in the research and development department (three and six months ended June 30, 2025, expense of $0.8 million and $1.5 million, respectively).
[3] Includes termination expenses incurred.
[4] Depreciation and other expenses have been reclassified to external research and development expenses and depreciation has been reclassified to external costs for all periods presented as it provides more relevant information.
[5] Included in employee expenses is share-based compensation expense of $0.9 million and $1.8 million for the three and six months ended June 30, 2026, respectively, relating to employees in the general and administrative department (three and six months ended June 30, 2025, expense of $1.0 million and $2.0 million, respectively).