Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Current assets:
Cash	$ 135,990	$ 92,117
Accounts receivable	5,456	201
Prepaid expenses and other current assets	5,100	4,884
Research and development incentives receivable	9,177	6,944
Total current assets	155,723	104,146
Property and equipment, net	2,317	2,292
Operating lease right-of-use assets	1,290	2,056
Other assets	1,822	1,700
Total assets	161,152	110,194
Current liabilities:
Accounts payable	1,365	1,949
Accrued expenses and other current liabilities	11,629	6,144
Deferred revenue, current portion	10,135	728
Total current liabilities	23,129	8,821
Long-term debt	14,505
Operating lease liabilities	426	1,251
Deferred revenue, net of current portion	25,021	4,929
Other long-term liabilities	2,611	1,995
Total liabilities	65,692	16,996
Commitments and contingencies (Note 13)
Shareholders’ equity:
Ordinary shares, £0.01 nominal value; 31,995,653 shares authorized at December 31, 2020 and December 31, 2019; 21,094,557 and 17,993,701 shares issued and outstanding at December 31, 2020 and December 31, 2019, respectively	266	227
Additional paid-in capital	249,947	195,056
Accumulated other comprehensive loss	(3,193)	(1,535)
Accumulated deficit	(151,560)	(100,550)
Total shareholders’ equity	95,460	93,198
Total liabilities and shareholders’ equity	$ 161,152	$ 110,194