v3.26.1
Unaudited condensed consolidated interim statement of cash flows - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Cash flows from operating activities    
Loss for the period $ (34,113) $ (20,101)
Depreciation 182 158
Share-based compensation expense 3,992 3,514
Finance income (4,851) (5,833)
Finance expense 167 352
Movement of expected credit loss (8) 6
Foreign exchange loss/(gain) 601 (1,860)
Movement in working capital 2,116 1,369
Cash flows used in operating activities (31,914) (22,395)
Finance expense paid (87) (360)
Finance income received 6,310 5,215
Net cash used in operating activities (25,691) (17,540)
Cash flows from investing activities    
Purchase of property, plant and equipment (80) (63)
Proceeds from sale of other financial assets 0 19,585
Proceeds from redemptions and disposals of marketable securities 15,061 8,026
Cash flows from investing activities 14,981 27,548
Cash flows from financing activities    
Proceeds from share issuances 118,039 150,000
Transaction costs from share issuances (6,028) (10,152)
Payment of lease liability (141) (63)
Net cash flows from financing activities 111,870 139,785
Net increase in cash and cash equivalents 101,160 149,793
Cash and cash equivalents at the beginning of the period 246,251 100,791
Impact of foreign exchange on cash and cash equivalents (2,358) 3,289
Cash and cash equivalents at the end of the period $ 345,053 $ 253,873