v3.26.1
CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 30,118 $ 40,992
Prepaid expenses and other current assets 1,600 2,531
Research and development incentives receivables 1,683 1,497
Total current assets 33,401 45,020
Property and equipment, net 54 137
Operating lease right-of-use assets, net 1,003 244
Intangible assets, net 256 516
Total assets 34,714 45,917
Current liabilities:    
Accounts payable 1,121 1,333
Accrued expenses 2,455 2,026
Operating lease liabilities - current 1,030 202
Other current liabilities 1,071 741
Total current liabilities 5,677 4,302
Warrant liabilities - non-current 15 38
Other non-current liabilities 370 661
Total liabilities 6,062 5,001
Commitments and contingencies (Note 15)
Shareholders' Equity    
Ordinary shares, par value 0.003 per share; 798,093,044 shares issued at June 30, 2026 (December 31, 2025: 795,658,504) 3,145 3,135
Additional paid-in capital 552,335 549,622
Accumulated deficit (514,543) (501,018)
Accumulated other comprehensive loss (12,285) (10,823)
Total shareholders' equity 28,652 40,916
Total liabilities and shareholders' equity $ 34,714 $ 45,917