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Share-based compensation (Tables) | 9 Months Ended
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Sep. 30, 2021
Share-based compensation |
Schedule of share-based compensation expense by classification included in consolidated statements of operations and comprehensive loss | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
| ​ | Three months ended September 30, | ​ | Nine months ended September 30,
​ |  | 2021 |  | 2020 | ​ | 2021 | ​ | 2020
​ | ​ | (in thousands) | ​ | (in thousands)
Research and development | ​ | $ | 3,245 | ​ | $ | 3,906 | ​ | $ | 9,205 | ​ | $ | 9,177
Selling, general and administrative | ​ | ​ | 2,705 | ​ | ​ | 2,457 | ​ | ​ | 9,520 | ​ | ​ | 7,240
Total | ​ | $ | 5,950 | ​ | $ | 6,363 | ​ | $ | 18,725 | ​ | $ | 16,417
Schedule of share-based compensation expense | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three months ended September 30, | ​ | Nine months ended September 30,
​ |  | 2021 |  | 2020 | ​ | 2021 | ​ | 2020
​ | ​ | (in thousands) | ​ | (in thousands)
Award type | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Share options | ​ | $ | 2,965 | ​ | $ | 3,994 | ​ | $ | 9,155 | ​ | $ | 8,948
Restricted share units | ​ | ​ | 2,582 | ​ | ​ | 1,525 | ​ | ​ | 8,364 | ​ | ​ | 5,178
Performance share units | ​ | ​ | 403 | ​ | ​ | 844 | ​ | ​ | 1,206 | ​ | ​ | 2,291
Total | ​ | $ | 5,950 | ​ | $ | 6,363 | ​ | $ | 18,725 | ​ | $ | 16,417
Schedule of unrecognized compensation cost related to unvested awards | ​
​ | ​ | ​ | ​ | ​ | ​
​ |  | Unrecognized |  | Weighted average
​ |  | share-based |  | remaining
​ | ​ | compensation | ​ | period for
​ | ​ | expense | ​ | recognition
​ | ​ | (in thousands) | ​ | (in years)
Award type | ​ | ​ | ​ | ​ | ​
Share options | ​ | $ | 31,952 | ​ | 2.93
Restricted share units | ​ | ​ | 21,887 | ​ | 2.16
Performance share units | ​ | ​ | 1,359 | ​ | 0.76
Total | ​ | $ | 55,198 | ​ | 2.57
Schedule of weighted-average assumptions for fair value of option issued | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three months ended September 30, |  | Nine months ended September 30,
Assumptions |  | 2021 |  | 2020 |  | 2021 |  | 2020
Expected volatility | ​ | 75% | ​ | 70% | ​ | 75% | ​ | 70%
Expected terms | ​ | 10 years | ​ | 10 years | ​ | 10 years | ​ | 10 years
Risk free interest rate | ​ | 1.47% | ​ | 0.84% | ​ | 1.21% - 1.85% | ​ | 0.76% - 1.44%
Expected dividend yield | ​ | 0% | ​ | 0% | ​ | 0% | ​ | 0%
Summary of RSUs activity | ​
​ | ​ | ​ | ​ | ​ | ​
​ | ​ | RSU
​ |  | ​ |  | Weighted average
​ | ​ | Number of | ​ | grant-date fair
​ | ​ | ordinary shares | ​ | value
Non-vested at December 31, 2020 | ​ | 467,344 | ​ | $ | 43.56
Granted | ​ | 547,271 | ​ | $ | 36.48
Vested | ​ | (214,368) | ​ | $ | 40.48
Forfeited | ​ | (102,697) | ​ | $ | 40.94
Non-vested at September 30, 2021 | ​ | 697,550 | ​ | $ | 39.34
​ | ​ | ​ | ​ | ​ | ​
Total weighted average grant date fair value of RSUs granted during the period (in $ millions) | ​ | ​ | ​ | $ | 20.0
Summary of PSUs activity | ​
​ | ​ | ​ | ​ | ​ | ​
​ | ​ | PSU
​ |  | ​ |  | Weighted average
​ | ​ | Number of | ​ | grant-date fair
​ | ​ | ordinary shares | ​ | value
Non-vested at December 31, 2020 | ​ | 212,614 | ​ | $ | 42.32
Granted | ​ | 66,600 | ​ | ​ | 36.39
Vested | ​ | (132,368) | ​ | $ | 33.09
Forfeited | ​ | (2,916) | ​ | $ | 57.56
Non-vested at September 30, 2021 | ​ | 143,930 | ​ | $ | 47.76
2014 Plan |
Share-based compensation |
Summary of option activity | ​
​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Options
​ | ​ | Number of | ​ | Weighted average
​ |  | ordinary shares |  | exercise price
​ | ​ | ​ | ​ | ​ | ​
Outstanding at December 31, 2020 | ​ | 2,659,279 | ​ | $ | 28.13
Granted | ​ | 1,088,843 | ​ | $ | 36.37
Forfeited | ​ | (233,777) | ​ | $ | 40.81
Expired | ​ | (14,146) | ​ | $ | 45.59
Exercised | ​ | (156,787) | ​ | $ | 11.65
Outstanding at September 30, 2021 | ​ | 3,343,412 | ​ | $ | 30.63
Thereof, fully vested and exercisable at September 30, 2021 | ​ | 1,792,291 | ​ | $ | 23.14
Thereof, outstanding and expected to vest after September 30, 2021 | ​ | 1,551,121 | ​ | $ | 39.28
​
​ | ​ | ​ | ​ | ​ | ​
Total weighted average grant date fair value of options issued during the period (in $ millions) | ​ | ​ | ​ | $ | 23.2
Proceeds from option sales during the period (in $ millions) | ​ | ​ | ​ | $ | 1.8
​

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- Definition Tabular disclosure of allocation of amount expensed and capitalized for award under share-based payment arrangement to statement of income or comprehensive income and statement of financial position. Includes, but is not limited to, corresponding line item in financial statement. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(1) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SAB Topic 14.F) -URI http://asc.fasb.org/extlink&oid=115993241&loc=d3e301413-122809 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5047-113901 + Details
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- Definition Tabular disclosure of the number and weighted-average grant date fair value for restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock units that were granted, vested, or forfeited during the year. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
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- Definition Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
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- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (f)(2) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
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