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Condensed Consolidated Balance Sheets - USD ($)
Sep. 30, 2023
Dec. 31, 2022
Current assets:    
Cash and cash equivalents $ 572,086,000 $ 339,154,000
Accounts receivable 0 2,045,000
Prepaid expenses and other current assets 13,673,000 9,022,000
Research and development incentives receivable 17,277,000 19,162,000
Total current assets 603,036,000 369,383,000
Property and equipment, net 15,599,000 19,110,000
Operating lease right-of-use assets 14,597,000 13,658,000
Other assets 5,451,000 8,458,000
Total assets 638,683,000 410,609,000
Current liabilities:    
Accounts payable 8,493,000 6,472,000
Accrued expenses and other current liabilities 34,053,000 26,452,000
Deferred revenue, current portion 27,190,000 20,418,000
Total current liabilities 69,736,000 53,342,000
Long-term debt, net of discount 30,604,000 30,315,000
Operating lease liabilities, net of current portion 10,423,000 10,885,000
Deferred revenue, net of current portion 107,582,000 41,455,000
Other longterm liabilities 4,316,000 3,829,000
Total liabilities 222,661,000 139,826,000
Commitments and contingencies (Note 11)
Shareholders' equity:    
Ordinary shares including non-voting shares, £0.01 nominal value; 59,612,613 and 57,820,181 shares authorized at September 30, 2023 and December 31, 2022, respectively; 42,384,799 and 29,873,893 shares issued and outstanding at September 30, 2023 and December 31, 2022, respectively 550,000 387,000
Additional paid-in capital 875,248,000 601,105,000
Accumulated other comprehensive income 2,885,000 387,000
Accumulated deficit (462,661,000) (331,096,000)
Total shareholders' equity 416,022,000 270,783,000
Total liabilities and shareholders' equity $ 638,683,000 $ 410,609,000