Expenses by nature (Tables)

12 Months Ended

Dec. 31, 2023

Expenses by nature [Abstract]

Expenses by Nature

The following table provides the consolidated statement of comprehensive income classification of our expense by nature:

	Year ended December 31,
	2023		2022		2021
	$’000		$’000		$’000
Research and development
External research and development expenses		22,777		16,019		6,602
Employee expenses (1)		6,771		4,119		1,419
Depreciation		35		33		14
Other expenses		238		313		518
Total research and development expenses		29,821		20,484		8,553
General and administrative
External costs		7,692		7,785		5,618
Employee expenses (2)		3,429		2,271		924
Depreciation		280		14		5
Total general and administrative expenses		11,401		10,070		6,547
Total operating expenses		41,222		30,554		15,100

⁽¹⁾ Included in employee expenses is share-based compensation expense of $1.4 million, $1.0 million and $0.2 million for the years ended December 31, 2023, 2022 and 2021, respectively, relating to employees in the research and development department.

⁽²⁾ Included in employee expenses is share-based compensation expense of $0.9 million, $0.7 million and $0.2 million for the years ended December 31, 2023, 2022 and 2021, respectively, relating to employees in the general and administrative department.