Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Current assets:
Cash	$ 109,637	$ 92,117
Accounts receivable	1,002	201
Prepaid expenses and other current assets	4,248	4,884
Research and development incentives receivable	8,503	6,944
Total current assets	123,390	104,146
Property and equipment, net	2,203	2,292
Operating lease right-of-use assets	1,815	2,056
Other assets	1,874	1,700
Total assets	129,282	110,194
Current liabilities:
Accounts payable	4,434	1,949
Accrued expenses and other current liabilities	5,716	6,144
Deferred revenue, current portion	6,047	728
Total current liabilities	16,197	8,821
Operating lease liabilities	1,056	1,251
Deferred revenue, net of current portion	28,206	4,929
Other long-term liabilities	2,010	1,995
Total liabilities	47,469	16,996
Commitments and contingencies (Note 12)
Shareholders’ equity:
Ordinary shares, £0.01 nominal value; 31,995,653 shares authorized at March 31, 2020 and December 31, 2019; 18,016,207 and 17,993,701 shares issued and outstanding at March 31, 2020 and December 31, 2019, respectively	227	227
Additional paid‑in capital	197,179	195,056
Accumulated other comprehensive loss	(3,719)	(1,535)
Accumulated deficit	(111,874)	(100,550)
Total shareholders’ equity	81,813	93,198
Total liabilities and shareholders’ equity	$ 129,282	$ 110,194