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Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Sep. 30, 2024
Dec. 31, 2023
Current assets:    
Cash and cash equivalents $ 890,862 $ 526,423
Prepaid expenses and other current assets 17,350 11,406
Research and development incentives receivable 57,982 24,039
Total current assets 966,194 561,868
Property and equipment, net 11,520 14,515
Operating lease right-of-use assets 9,092 13,169
Other assets 9,940 5,792
Total assets 996,746 595,344
Current liabilities:    
Accounts payable 5,714 13,050
Accrued expenses and other current liabilities 39,313 31,509
Deferred revenue, current portion 11,378 24,978
Total current liabilities 56,405 69,537
Long-term debt, net of discount   30,698
Operating lease liabilities, net of current portion 5,533 9,382
Deferred revenue, net of current portion 97,813 110,216
Other long-term liabilities 5,963 4,579
Total liabilities 165,714 224,412
Commitments and contingencies (Note 11)
Shareholders' equity:    
Ordinary shares, including non-voting ordinary shares, £0.01 nominal value; 155,878,645 and 59,612,613 shares authorized on September 30, 2024 and December 31, 2023, respectively; 69,015,971 and 42,431,766 shares issued and outstanding at September 30, 2024 and December 31, 2023, respectively 890 550
Additional paid-in capital 1,462,264 883,446
Accumulated other comprehensive loss (3,185) (1,304)
Accumulated deficit (628,937) (511,760)
Total shareholders' equity 831,032 370,932
Total liabilities and shareholders' equity $ 996,746 $ 595,344