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Condensed Consolidated Statements of Cash Flows
$ in Thousands
6 Months Ended
Jun. 30, 2024
USD ($)
Jun. 30, 2023
USD ($)
Cash flows from operating activities:    
Net loss $ (66,375) $ (81,667)
Adjustments to reconcile net loss to net cash used in operating activities:    
Share-based compensation expense 18,546 17,235
Depreciation and amortization 3,298 3,202
Non-cash interest 211 198
Deferred income tax benefit (877) (3,683)
Changes in operating assets and liabilities:    
Accounts receivable (232) 52,358
Research and development incentives receivable (22,575) 7,199
Prepaid expenses and other assets (8,783) (638)
Operating lease right-of-use assets 2,187 2,054
Accounts payable (6,354) 21
Accrued expenses and other current liabilities (3,626) 8,416
Operating lease liabilities (2,382) (1,867)
Deferred revenue (28,671) (15,454)
Other long-term liabilities 137 311
Net cash used in operating activities (115,496) (12,315)
Cash flows from investing activities:    
Purchases of property and equipment (432) (2,376)
Net cash used in investing activities (432) (2,376)
Cash flows from financing activities:    
Proceeds from the issuance of ADSs and non-voting ordinary shares, net of issuance costs 545,106 14,843
Proceeds from the exercise of share options and settlement of restricted share units 6,371 167
Net cash provided by financing activities 551,477 15,010
Effect of exchange rate changes on cash, cash equivalents and restricted cash (608) 960
Net increase in cash, cash equivalents and restricted cash 434,941 1,279
Cash, cash equivalents and restricted cash at beginning of period 526,970 339,154
Cash, cash equivalents and restricted cash at end of period 961,911 340,433
Reconciliation of cash, cash equivalents and restricted cash    
Cash and cash equivalents 961,364 340,433
Restricted cash included in other assets 547  
Total cash, cash equivalents and restricted cash 961,911 340,433
Supplemental disclosure of cash flow information    
Cash paid for interest 1,146 1,365
Cash paid for income taxes 792 664
Equity issuance costs included in accounts payable and accrued expenses 979  
Cash paid for amounts included in the measurement of operating lease liabilities 2,874 2,771
Changes in purchases of property and equipment in accounts payable and accrued expenses $ 26 (1,401)
Advance billings on deferred revenue included in accounts receivable   45,000
Non-cash impact to right-of-use assets and operating lease liabilities   $ 4,004