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Shareholders' Equity (Tables)

3 Months Ended

Mar. 31, 2024

Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]

Summary of shares available for grant

A summary of shares available for grant is set forth below (in thousands):

​	​	​
​	​	​
​	​	SHARES
​	​	AVAILABLE
​		FOR GRANT
Balance as of December 31, 2023		8,192
Authorized	​	5,569
Granted/Awarded		(3,000)
Cancelled		1,258
Balance as of March 31, 2024		12,019
​	​	​

Summary of share option activity

A summary of share option activity is set forth below (in thousands except per share amounts and years):

​	​	​	​	​	​	​	​	​	​	​
​	​	​
​	​	OUTSTANDING AWARDS
​	​	​	​	​	​	​	WEIGHTED-	​	​	​
​	​	NUMBER OF	​	​	​	​	AVERAGE	​	​	​
​	​	SHARES	​	WEIGHTED-		​	REMAINING	​	​	​
​	​	UNDERLYING	​	AVERAGE		​	CONTRACTUAL	​	AGGREGATE
​	​	OUTSTANDING	​	EXERCISE		​	TERM	​	INTRINSIC
​		OPTIONS		PRICE			(IN YEARS)		VALUE
As of December 31, 2023		11,899	​	​	3.94		8.27	​		117,093
Granted		2,055	​	​	12.36			​
Exercised		(635)	​	​	1.19			​
Forfeited		(1,258)	​	​	5.21			​
As of March 31, 2024		12,061	​	​	5.38		8.30	​		109,571
Exercisable at March 31, 2024		5,213	​	​	2.17	​	7.41	​	​	63,171
Vested and expected to vest at March 31, 2024		12,061	​	​	5.38		8.30	​		109,571
​	​	​	​	​	​	​	​	​	​	​

Schedule of recognized share-based compensation

The Company recognized share-based compensation as follows (in thousands):

​	​	​	​	​	​	​	​
​		​
​	​	THREE MONTHS ENDED					​
​	​	MARCH 31,					​
​		2024			2023
Research and development	​	$	1,223	​	$	1,592	​
General and administrative	​		1,521	​		941	​
Total share-based compensation	​	$	2,744	​	$	2,533	​
​	​	​	​	​	​	​	​

​

​	​	​	​	​	​	​	​
​		​
​	​	THREE MONTHS ENDED					​
​	​	MARCH 31,					​
​		2024			2023
Share options and restricted share units	​	$	2,587	​	$	2,533	​
ESPP	​		157	​		—	​
Total share-based compensation	​	$	2,744	​	$	2,533	​
​	​	​	​	​	​	​	​

​

Restricted share units

Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]

Summary of restricted share units activity

A summary of restricted share unit activity is set forth below (in thousands except per share amounts):

​	​	​	​	​	​
​	​	​
​	​	​	​	WEIGHTED-
​	​	NUMBER OF	​	AVERAGE
​	​	UNITS	​	GRANT DATE
​		OUTSTANDING		FAIR VALUE
Outstanding, December 31, 2023		—	​	​	​
Granted (including performance-based restricted share units)	​	945	​	$	11.75
Forfeited		—	​	​	​
Outstanding, March 31, 2024		945	​	$	11.75
​	​	​	​	​	​

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