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Share based compensation (Tables) | 9 Months Ended
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Sep. 30, 2024
Share-Based Payment Arrangement [Abstract] |
Allocation of Share Based Compensation Expense | The following table shows the allocation of share-based compensation between research and development and selling, general and administrative costs (in thousands):
|  | Three months ended September 30, |  | Nine months ended September 30,
|  | 2024 |  | 2023 |  | 2024 |  | 2023
Research and development |  | $ | 790 |  |  | $ | 1,110 |  |  | $ | 5,470 |  |  | $ | 3,336 |
Selling, general and administrative |  | 6,864 |  |  | 3,969 |  |  | 22,036 |  |  | 11,107 |
Total |  | $ | 7,654 |  |  | $ | 5,079 |  |  | $ | 27,506 |  |  | $ | 14,443 |
Share Option Activity |
|  | Number of share options outstanding |  |  |  |  |  |
Balance as of December 31, 2023 |  | 24,689,624 |  |  |  |  |  |  |
Granted |  | 2,432,000 |  |  |  |  |  |  |
Forfeited |  | (64,000) |  |  |  |  |  |  |
Exercised |  | (1,037,424) |  |  |  |  |  |  |
Balance as of March 31, 2024 |  | 26,020,200 |  |  |  |  |  |  |
Granted |  | 7,924,000 |  |  |  |  |  |  |
Forfeited |  | (72,000) |  |  |  |  |  |  |
Expired |  | (160,000) |  |  |  |  |  |  |
Balance as of June 30, 2024 |  | 33,712,200 |  |  |  |  |  |  |
Granted |  | 2,056,000 |  |  |  |  |  |  |
Forfeited |  | (107,632) |  |  |  |  |  |  |
Exercised |  | (2,654,960) |  |  |  |  |  |  |
Balance as of September 30, 2024 |  | 33,005,608 |  |  |  |  |  |  |
Restricted Stock Unit Activity |
|  | Number of RSUs outstanding |  |  |  |  |  |
Balance as of December 31, 2023 |  | 19,502,624 |  |  |  |  |  |  |
Forfeited |  | (1,752) |  |  |  |  |  |  |
Vested |  | (4,357,208) |  |  |  |  |  |  |
Balance as of March 31, 2024 |  | 15,143,664 |  |  |  |  |  |  |
Vested |  | (2,045,384) |  |  |  |  |  |  |
Balance as of June 30, 2024 |  | 13,098,280 |  |  |  |  |  |  |
Forfeited |  | (566,824) |  |  |  |  |  |  |
Vested |  | (2,045,376) |  |  |  |  |  |  |
Balance as of September 30, 2024 |  | 10,486,080 |  |  |  |  |  |  |
A summary of the Company’s PRSU activity for the period ended September 30, 2024 is as follows:
|  | Number of PRSUs outstanding |  |  |  |  |  |
Balance as of December 31, 2023 |  | 10,730,144 |  |  |  |  |  |  |
Forfeited |  | (5,248) |  |  |  |  |  |  |
Balance as of March 31, 2024 |  | 10,724,896 |  |  |  |  |  |  |
Balance as of June 30, 2024 |  | 10,724,896 |  |  |  |  |  |  |
Forfeited |  | (420,864) |  |  |  |  |  |  |
Vested |  | (3,569,696) |  |  |  |  |  |  |
Balance as of September 30, 2024 |  | 6,734,336 |  |  |  |  |  |  |

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