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Condensed Statements of Operations and Comprehensive Loss - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
OPERATING EXPENSES:        
Research and development $ 32,928 $ 21,526 $ 86,898 $ 60,379
General and administrative 14,968 12,536 42,893 38,135
Total operating expenses 47,896 34,062 129,791 98,514
Loss from operations: (47,896) (34,062) (129,791) (98,514)
OTHER INCOME (EXPENSE), NET:        
Benefit from R&D tax credit 4,084 2,685 10,894 9,521
Interest income 1,977 1,015 6,645 2,357
Interest expense (1,137) (1,080) (3,347) (1,080)
Foreign exchange gains (losses) 4,452 (1,997) 3,894 2,064
Other income 191 112 486 106
Total other income, net 9,567 735 18,572 12,968
Loss before income taxes (38,329) (33,327) (111,219) (85,546)
Income tax expense (173) (62) (571) (386)
Net loss $ (38,502) $ (33,389) $ (111,790) $ (85,932)
Net loss per share attributable to ordinary shareholders - basic (in dollars per share) $ (0.56) $ (0.67) $ (1.67) $ (1.81)
Net loss per share attributable to ordinary shareholders - diluted (in dollars per share) $ (0.56) $ (0.67) $ (1.67) $ (1.81)
Weighted average ordinary shares outstanding - basic (in shares) 68,395,343 49,633,104 67,001,326 47,355,992
Weighted average ordinary shares outstanding - diluted (in shares) 68,395,343 49,633,104 67,001,326 47,355,992
Other comprehensive gain (loss):        
Foreign exchange translation adjustment $ 339 $ (738) $ 384 $ (599)
Comprehensive loss $ (38,163) $ (34,127) $ (111,406) $ (86,531)