Share-based compensation (Tables)

12 Months Ended

Dec. 31, 2022

Share-based compensation

Schedule of share based compensation expense

The Company recorded share-based compensation expense in the following expense categories of its consolidated statements of operations and comprehensive loss (in thousands):

	Year Ended
	December 31,
	2022		2021		2020
Research and development expenses	$	10,394	$	4,974	$	2,603
General and administrative expenses		16,385		7,109		3,911
	$	26,779	$	12,083	$	6,514

Schedule of share option activity

	Number of			Weighted
	Shares	Weighted		Average	Aggregate
	Underlying	Average		Contractual	Intrinsic
	Share Options	Exercise Price		Term	Value
				(in years)	(in thousands)
Outstanding as of December 31, 2021	4,603,486	$	14.97	8.13	$	207,009
Granted	1,548,167		44.83	—		—
Exercised	(78,074)		12.67	—		—
Forfeited	(174,691)		27.92	—		—
Outstanding as of December 31, 2022	5,898,888	$	22.45	7.64	$	71,002
Vested and expected to vest as of December 31, 2022	5,898,888	$	22.45	7.64	$	71,002
Options exercisable as of December 31, 2022	3,352,315	$	13.93	6.87	$	55,749

Schedule of assumptions used to determine the fair value of share options granted

	Year Ended
	December 31,
	2022		2021		2020
Risk-free interest rate	2.2	%	0.6	%	1.3	%
Expected volatility	82.5	%	79.8	%	74.8	%
Expected dividend yield	—		—		—
Expected term (in years)	6.02		5.98		5.98

Schedule of restricted ordinary share award activity

	Number of Shares	Weighted-Average
	Underlying RSUs	Grant Date Fair Value
Unvested at December 31, 2021	—	$	—
Granted	222,725		60.86
Vested	(35,000)		60.86
Unvested at December 31, 2022	187,725	$	60.86