Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Current assets:
Cash and cash equivalents	$ 395,026	$ 128,030
Short-term investments	123,423	128,519
Tax incentive receivable	34,029	37,818
Prepaid expenses and other current assets	15,886	20,725
Total current assets	568,364	315,092
Property and equipment, net	821	1,039
Operating lease right-of-use assets	11,244	11,914
Deferred tax asset	27,055	29,647
Other, net	2,231	2,554
Total assets	609,715	360,246
Current liabilities:
Accounts payable	7,443	11,815
Accrued expenses and other current liabilities	18,963	27,570
Total current liabilities	26,406	39,385
Long term debt	75,700	75,700
Operating lease liabilities	8,443	8,888
Other liabilities	29	29
Total liabilities	110,578	124,002
Commitments and contingencies (Note 6)
Shareholders’ equity:
Ordinary shares: £0.002 nominal value: 184,469,623 shares authorized, 131,659,103 issued and outstanding at September 30, 2024: 152,500,000 shares authorized, 98,774,827 issued and outstanding at December 31, 2023	357	273
Additional paid-in capital	1,374,058	987,423
Accumulated other comprehensive income	2,095	1,493
Accumulated deficit	(877,373)	(752,945)
Total shareholders’ equity	499,137	236,244
Total liabilities and shareholders' equity	$ 609,715	$ 360,246