Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Current assets:
Cash	$ 96,910	$ 92,117
Accounts receivable	489	201
Prepaid expenses and other current assets	4,318	4,884
Research and development incentives receivable	10,814	6,944
Total current assets	112,531	104,146
Property and equipment, net	2,173	2,292
Operating lease right-of-use assets	1,627	2,056
Other assets	2,271	1,700
Total assets	118,602	110,194
Current liabilities:
Accounts payable	3,338	1,949
Accrued expenses and other current liabilities	8,221	6,144
Deferred revenue, current portion	5,419	728
Total current liabilities	16,978	8,821
Operating lease liabilities	850	1,251
Deferred revenue, net of current portion	27,663	4,929
Other long-term liabilities	2,085	1,995
Total liabilities	47,576	16,996
Commitments and contingencies (Note 12)
Shareholders’ equity:
Ordinary shares, £0.01 nominal value; 31,995,653 shares authorized at June 30, 2020 and December 31, 2019; 18,091,657 and 17,993,701 shares issued and outstanding at June 30, 2020 and December 31, 2019, respectively	228	227
Additional paid‑in capital	198,507	195,056
Accumulated other comprehensive loss	(3,720)	(1,535)
Accumulated deficit	(123,989)	(100,550)
Total shareholders’ equity	71,026	93,198
Total liabilities and shareholders’ equity	$ 118,602	$ 110,194