Share-based compensation (Tables)

12 Months Ended

Dec. 31, 2023

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,
	2023		2022		2021
Research and development expenses	$	15,581	$	10,394	$	4,974
General and administrative expenses		16,896		16,385		7,109
	$	32,477	$	26,779	$	12,083

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, 2022	5,898,888	$	22.45	7.64	$	71,002
Granted	2,099,895		26.53	—		—
Exercised	(54,023)		12.57	—		—
Forfeited	(475,233)		30.94	—		—
Outstanding as of December 31, 2023	7,469,527	$	23.13	6.83	$	21,920
Vested and expected to vest as of December 31, 2023	7,469,527	$	23.13	6.83	$	21,920
Options exercisable as of December 31, 2023	4,561,511	$	18.95	5.61	$	21,358

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

	Year Ended
	December 31,
	2023		2022		2021
Risk-free interest rate	4.0	%	2.2	%	0.6	%
Expected volatility	82.9	%	82.5	%	79.8	%
Expected dividend yield	—		—		—
Expected term (in years)	6.1		6.0		6.0

Schedule of restricted ordinary share award activity

	Number of Shares	Weighted-Average
	Underlying RSUs	Grant Date Fair Value
Unvested at December 31, 2022	187,725	$	60.86
Granted	333,089		29.27
Vested	(119,144)		50.30
Forfeited	(74,822)		39.55
Unvested at December 31, 2023	326,848	$	37.40