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Segment Information (Tables) | 6 Months Ended
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Jun. 30, 2026
Segment Reporting [Abstract] |
Schedule of Adjusted Loss Before Taxes for the Company's Single Segment | The following table presents the adjusted loss before taxes for the Company’s single segment for each of the three and six months ended June 30, 2026 and 2025:
|  | Three months ended June 30, |  |  | Six months ended June 30, |
(In thousands of USD) |  | 2026 |  |  | 2025 |  |  | 2026 |  |  | 2025 |
Revenue |  |  | 3,701 |  |  |  | 19,145 |  |  |  | 6,741 |  |  |  | 22,123 |
Interest income |  |  | 5,810 |  |  |  | 7,055 |  |  |  | 11,460 |  |  |  | 14,406 |
Less: |  |  |  |  |  |  |  |  |  |  |  |
Personnel expense |  |  | 12,657 |  |  |  | 9,900 |  |  |  | 24,449 |  |  |  | 20,063 |
External R&D expense |  |  | 26,705 |  |  |  | 14,577 |  |  |  | 45,127 |  |  |  | 43,904 |
Manufacturing expense |  |  | 2,781 |  |  |  | 4,289 |  |  |  | 10,357 |  |  |  | 10,130 |
Regulatory expense |  |  | 1,277 |  |  |  | 1,025 |  |  |  | 1,979 |  |  |  | 2,042 |
Commercial programs |  |  | 2,803 |  |  |  | 5,396 |  |  |  | 4,916 |  |  |  | 11,303 |
General and administrative expense |  |  | 3,872 |  |  |  | 4,307 |  |  |  | 6,588 |  |  |  | 8,629 |
Depreciation and amortization |  |  | 89 |  |  |  | 107 |  |  |  | 226 |  |  |  | 220 |
Segment adjusted loss before tax |  |  | (40,673 | ) |  |  | (13,401 | ) |  |  | (75,441 | ) |  |  | (59,762 | )
Reconciliation to consolidated net loss |  |  |  |  |  |  |  |  |  |  |  |
Share-based compensation expense |  |  | (18,381 | ) |  |  | (15,179 | ) |  |  | (36,383 | ) |  |  | (30,392 | )
Change in fair value - derivatives |  |  | (4,555 | ) |  |  | 2,590 |  |  |  | 1,387 |  |  |  | 20,344 |
Foreign exchange gains/(losses) |  |  | (526 | ) |  |  | 8,626 |  |  |  | (2,139 | ) |  |  | 12,919 |
Income tax expense |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Consolidated net loss for the period |  |  | (64,135 | ) |  |  | (17,364 | ) |  |  | (112,576 | ) |  |  | (56,891 | )

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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-25 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
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