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Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2024
Dec. 31, 2023
Current assets:    
Cash and cash equivalents $ 404,599 $ 271,772
Prepaid expenses 5,433 3,617
Tax incentive receivable 3,684 10,954
Other current assets 2,576 3,365
Total current assets 416,292 289,708
Non-current assets:    
Furniture and equipment, net 44 24
Goodwill 545 545
Equity interest 15,000 15,000
Right-of-use assets 2,242 2,847
Total non-current assets 17,831 18,416
Total assets 434,123 308,124
Current liabilities:    
Accounts payable 4,152 3,492
Accrued expenses 19,630 3,585
License agreement obligations 21,322 0
Current operating lease liabilities 1,031 1,180
Taxes payable 1,011 0
Other current liabilities 1,200 435
Total current liabilities 48,346 8,692
Non-current liabilities:    
Term loan 119,687 48,374
Revenue interest purchase security agreement 96,338 0
Non-current operating lease liabilities 1,478 1,775
Total non-current liabilities 217,503 50,149
Total liabilities 265,849 58,841
Commitments and contingencies
Shareholders' equity:    
Ordinary £0.05 par value shares; 667,659,630 and 667,659,630 issued, and 648,654,174 and 643,536,094 outstanding, at June 30, 2024 and December 31, 2023, respectively 42,771 42,771
Additional paid-in capital 616,618 601,063
Ordinary shares held in treasury (1,203) (1,517)
Accumulated other comprehensive loss (4,601) (4,601)
Accumulated deficit (485,311) (388,433)
Total shareholders' equity 168,274 249,283
Total liabilities and shareholders' equity $ 434,123 $ 308,124