XML 15 R2.htm IDEA: XBRL DOCUMENT v3.25.1
Pay vs Performance Disclosure - USD ($)
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Pay vs Performance Disclosure      
Pay vs Performance Disclosure, Table

Value of Initial

Average

Average

Fixed $100

Summary

Compensation

Investment Based

Summary

Compensation

Compensation

Actually

on Total

Compensation

Actually

Table for

Paid to the

Shareholder

Net Income (Loss)

Total for PEO

Paid to PEO

Non-PEO NEOs

Non-PEO NEOs

Return

(in thousands)

Year

    

($)(1)

    

($)(2)

    

($)(1)

    

($)(2)

    

($)(3)

    

($)(4)

2024

6,875,603

6,053,171

4,359,533

3,827,994

25.65

(147,791)

2023

 

6,336,832

 

5,837,614

 

3,740,448

 

3,465,959

29.57

(84,027)

2022

 

7,715,156

 

(1,124,733)

 

5,291,480

 

(1,332,788)

27.46

(129,615)

(1)During 2024, 2023 and 2022, our PEO was Alexandria Forbes, Ph.D. and our non-PEO NEOs consisted of Richard Giroux and Stuart Naylor, Ph.D. The amounts shown in these columns represent the total compensation for the PEO and an average of the total compensation for the non-PEO NEOs as reported in the Summary Compensation Table for 2024, 2023 and 2022.
(2)The dollar amounts reported are adjusted to calculate “compensation actually paid” to the PEO and the average “compensation actually paid” to the two non-PEO NEOs as computed in accordance with Item 402(v) of Regulation S-K. The dollar amounts do not reflect the actual amount of compensation earned by or paid to the NEOs during the applicable year. In accordance with the requirements of Item 402(v) of Regulation S-K, the following adjustments were made to the PEO and non-PEO NEOs’ total compensation reported in the Summary Compensation Table for fiscal years 2024, 2023 and 2022 to determine the “compensation actually paid”:

2024

2023

2022

Average Non-

Average Non-

Average Non-

PEO

PEO

PEO

Adjustments

    

PEO ($)

    

NEOs ($)

    

PEO ($)

    

NEOs ($)

    

PEO ($)

    

NEOs ($)

Deduction for amounts reported under the “Stock Awards” and “Option Awards” columns in the Summary Compensation Table

 

(3,819,200)

(2,371,600)

(3,448,250)

 

(2,139,975)

 

(5,382,500)

 

(3,875,400)

Increase for fair value of awards granted during year that remained unvested at year-end

 

3,775,800

2,344,650

2,751,975

 

1,714,043

 

1,630,000

 

1,173,600

Change in fair value from prior year-end to year-end of awards granted in a prior year that were outstanding and unvested at year-end

 

(491,309)

(324,412)

177,685

 

132,775

 

(4,220,708)

 

(3,287,749)

Change in fair value from prior year-end to vesting date of awards granted in a prior year that vested during year

 

(287,722)

(180,177)

19,372

 

18,669

 

(866,681)

 

(634,719)

Total adjustments

 

(822,432)

(531,539)

(499,218)

 

(274,489)

 

(8,839,889)

 

(6,624,268)

(3)Cumulative Total Shareholder Return (“TSR”) is the calculated difference between our share price at the end and the beginning of the applicable measurement period, and our share price at the beginning of the measurement period. To perform this calculation, we assume a $100 investment on December 31, 2021.
(4)The dollar amount reported represents the amount of net income (loss) reflected in our audited financial statements for the applicable year.
   
Named Executive Officers, Footnote
(1)During 2024, 2023 and 2022, our PEO was Alexandria Forbes, Ph.D. and our non-PEO NEOs consisted of Richard Giroux and Stuart Naylor, Ph.D. The amounts shown in these columns represent the total compensation for the PEO and an average of the total compensation for the non-PEO NEOs as reported in the Summary Compensation Table for 2024, 2023 and 2022.
   
PEO Total Compensation Amount $ 6,875,603 $ 6,336,832 $ 7,715,156
PEO Actually Paid Compensation Amount $ 6,053,171 5,837,614 (1,124,733)
Adjustment To PEO Compensation, Footnote
(2)The dollar amounts reported are adjusted to calculate “compensation actually paid” to the PEO and the average “compensation actually paid” to the two non-PEO NEOs as computed in accordance with Item 402(v) of Regulation S-K. The dollar amounts do not reflect the actual amount of compensation earned by or paid to the NEOs during the applicable year. In accordance with the requirements of Item 402(v) of Regulation S-K, the following adjustments were made to the PEO and non-PEO NEOs’ total compensation reported in the Summary Compensation Table for fiscal years 2024, 2023 and 2022 to determine the “compensation actually paid”:

2024

2023

2022

Average Non-

Average Non-

Average Non-

PEO

PEO

PEO

Adjustments

    

PEO ($)

    

NEOs ($)

    

PEO ($)

    

NEOs ($)

    

PEO ($)

    

NEOs ($)

Deduction for amounts reported under the “Stock Awards” and “Option Awards” columns in the Summary Compensation Table

 

(3,819,200)

(2,371,600)

(3,448,250)

 

(2,139,975)

 

(5,382,500)

 

(3,875,400)

Increase for fair value of awards granted during year that remained unvested at year-end

 

3,775,800

2,344,650

2,751,975

 

1,714,043

 

1,630,000

 

1,173,600

Change in fair value from prior year-end to year-end of awards granted in a prior year that were outstanding and unvested at year-end

 

(491,309)

(324,412)

177,685

 

132,775

 

(4,220,708)

 

(3,287,749)

Change in fair value from prior year-end to vesting date of awards granted in a prior year that vested during year

 

(287,722)

(180,177)

19,372

 

18,669

 

(866,681)

 

(634,719)

Total adjustments

 

(822,432)

(531,539)

(499,218)

 

(274,489)

 

(8,839,889)

 

(6,624,268)

   
Non-PEO NEO Average Total Compensation Amount $ 4,359,533 3,740,448 5,291,480
Non-PEO NEO Average Compensation Actually Paid Amount $ 3,827,994 3,465,959 (1,332,788)
Adjustment to Non-PEO NEO Compensation Footnote
(2)The dollar amounts reported are adjusted to calculate “compensation actually paid” to the PEO and the average “compensation actually paid” to the two non-PEO NEOs as computed in accordance with Item 402(v) of Regulation S-K. The dollar amounts do not reflect the actual amount of compensation earned by or paid to the NEOs during the applicable year. In accordance with the requirements of Item 402(v) of Regulation S-K, the following adjustments were made to the PEO and non-PEO NEOs’ total compensation reported in the Summary Compensation Table for fiscal years 2024, 2023 and 2022 to determine the “compensation actually paid”:

2024

2023

2022

Average Non-

Average Non-

Average Non-

PEO

PEO

PEO

Adjustments

    

PEO ($)

    

NEOs ($)

    

PEO ($)

    

NEOs ($)

    

PEO ($)

    

NEOs ($)

Deduction for amounts reported under the “Stock Awards” and “Option Awards” columns in the Summary Compensation Table

 

(3,819,200)

(2,371,600)

(3,448,250)

 

(2,139,975)

 

(5,382,500)

 

(3,875,400)

Increase for fair value of awards granted during year that remained unvested at year-end

 

3,775,800

2,344,650

2,751,975

 

1,714,043

 

1,630,000

 

1,173,600

Change in fair value from prior year-end to year-end of awards granted in a prior year that were outstanding and unvested at year-end

 

(491,309)

(324,412)

177,685

 

132,775

 

(4,220,708)

 

(3,287,749)

Change in fair value from prior year-end to vesting date of awards granted in a prior year that vested during year

 

(287,722)

(180,177)

19,372

 

18,669

 

(866,681)

 

(634,719)

Total adjustments

 

(822,432)

(531,539)

(499,218)

 

(274,489)

 

(8,839,889)

 

(6,624,268)

   
Compensation Actually Paid vs. Total Shareholder Return

Graphic

   
Compensation Actually Paid vs. Net Income

Graphic

   
Total Shareholder Return Amount $ 25.65 29.57 27.46
Net Income (Loss) $ (147,791,000) (84,027,000) (129,615,000)
PEO Name Alexandria Forbes    
Equity Awards Adjustments, Footnote In accordance with the requirements of Item 402(v) of Regulation S-K, the following adjustments were made to the PEO and non-PEO NEOs’ total compensation reported in the Summary Compensation Table for fiscal years 2024, 2023 and 2022 to determine the “compensation actually paid”:

2024

2023

2022

Average Non-

Average Non-

Average Non-

PEO

PEO

PEO

Adjustments

    

PEO ($)

    

NEOs ($)

    

PEO ($)

    

NEOs ($)

    

PEO ($)

    

NEOs ($)

Deduction for amounts reported under the “Stock Awards” and “Option Awards” columns in the Summary Compensation Table

 

(3,819,200)

(2,371,600)

(3,448,250)

 

(2,139,975)

 

(5,382,500)

 

(3,875,400)

Increase for fair value of awards granted during year that remained unvested at year-end

 

3,775,800

2,344,650

2,751,975

 

1,714,043

 

1,630,000

 

1,173,600

Change in fair value from prior year-end to year-end of awards granted in a prior year that were outstanding and unvested at year-end

 

(491,309)

(324,412)

177,685

 

132,775

 

(4,220,708)

 

(3,287,749)

Change in fair value from prior year-end to vesting date of awards granted in a prior year that vested during year

 

(287,722)

(180,177)

19,372

 

18,669

 

(866,681)

 

(634,719)

Total adjustments

 

(822,432)

(531,539)

(499,218)

 

(274,489)

 

(8,839,889)

 

(6,624,268)

   
PEO | Equity Awards Adjustments      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount $ (822,432) (499,218) (8,839,889)
PEO | Aggregate Grant Date Fair Value of Equity Award Amounts Reported in Summary Compensation Table      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount (3,819,200) (3,448,250) (5,382,500)
PEO | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 3,775,800 2,751,975 1,630,000
PEO | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount (491,309) 177,685 (4,220,708)
PEO | Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount (287,722) 19,372 (866,681)
Non-PEO NEO | Equity Awards Adjustments      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount (531,539) (274,489) (6,624,268)
Non-PEO NEO | Aggregate Grant Date Fair Value of Equity Award Amounts Reported in Summary Compensation Table      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount (2,371,600) (2,139,975) (3,875,400)
Non-PEO NEO | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 2,344,650 1,714,043 1,173,600
Non-PEO NEO | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount (324,412) 132,775 (3,287,749)
Non-PEO NEO | Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount $ (180,177) $ 18,669 $ (634,719)