Expenses by nature (Tables)

9 Months Ended

Sep. 30, 2024

The following table provides the consolidated statement of comprehensive income classification of our expense by nature:

	Three months ended September 30,				Nine months ended September 30,
	2024		2023		2024		2023
	$’000		$’000		$’000		$’000
External research and development expenses		6,728		5,207		21,651		16,521
Employee expenses^{1, 3}		1,606		1,812		4,964		4,857
Depreciation		5		8		16		28
Other expenses		58		61		179		164
Total research and development expenses		8,397		7,088		26,810		21,570

External costs		3,016		1,725		7,253		5,834
Employee expenses^{2, 3}		1,134		834		3,084		2,450
Depreciation		74		72		221		209
Total general and administrative expenses		4,224		2,631		10,558		8,493
Total operating expenses		12,621		9,719		37,368		30,063

¹Included in employee expenses is a share based compensation expense of $0.1 million and $0.2 million for the three and nine months ended September 30, 2024, respectively, relating to employees in the research and development department (three and nine months ended September 30, 2023, $0.4 million and $1.0 million, respectively).

² Included in employee expenses is share based compensation expense of $0.1 million and $0.2 million for the three and nine months ended September 30, 2024, respectively, relating to employees in the general and administrative department (three and nine months ended September 30, 2023, $0.2 million and $0.7 million, respectively).

³Includes termination expenses incurred in the nine months ended September 30, 2024.