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Share-based compensation (Tables) | 12 Months Ended
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Dec. 31, 2024
Share-based compensation |
Schedule of share based compensation expense | The Company recorded share-based compensation expense in the following expense categories of its consolidated statements of operations and comprehensive loss (in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Year Ended
​ |  | December 31,
​ |  | 2024 |  | 2023 |  | 2022
Research and development expenses | ​ | $ | 19,424 | ​ | $ | 15,581 | ​ | $ | 10,394
General and administrative expenses | ​ |  | 18,657 | ​ |  | 16,896 | ​ |  | 16,385
​ | ​ | $ | 38,081 | ​ | $ | 32,477 | ​ | $ | 26,779
Schedule of share option activity | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Number of | ​ | ​ | ​ | ​ | Weighted | ​ | ​ | ​
​ | ​ | Shares | ​ | Weighted | ​ | Average | ​ | Aggregate
​ | ​ | Underlying | ​ | Average | ​ | Contractual | ​ | Intrinsic
​ |  | Share Options |  | Exercise Price |  | Term |  | Value
​ | ​ | ​ | ​ | ​ | ​ | ​ | (in years) | ​ | (in thousands)
Outstanding as of December 31, 2023 |  | 7,469,527 | ​ | $ | 23.13 |  | 6.83 | ​ | $ | 21,920
Granted |  | 2,438,356 | ​ |  | 19.42 |  | — | ​ |  | —
Exercised |  | (554,596) | ​ |  | 13.57 |  | — | ​ |  | —
Forfeited |  | (604,561) | ​ |  | 27.37 |  | — | ​ |  | —
Outstanding as of December 31, 2024 |  | 8,748,726 | ​ | $ | 22.41 |  | 6.81 | ​ | $ | 9,559
Vested and expected to vest as of December 31, 2024 |  | 8,748,726 | ​ | $ | 22.41 | ​ | 6.81 | ​ | $ | 9,559
Options exercisable as of December 31, 2024 |  | 5,359,049 | ​ | $ | 21.65 |  | 5.60 | ​ | $ | 9,559
Schedule of assumptions used to determine the fair value of share options granted | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year Ended |
​ | ​ | December 31, |
​ |  | 2024 |  | 2023 |  | 2022 |
Risk-free interest rate |  | 4.0 | % | 4.0 | % | 2.2 | %
Expected volatility |  | 77.0 | % | 82.9 | % | 82.5 | %
Expected dividend yield |  | — |  | — |  | — | ​
Expected term (in years) |  | 6.1 |  | 6.1 |  | 6.0 | ​
Schedule of restricted ordinary share award activity | ​
​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Number of Shares | ​ | Weighted-Average
​ | ​ | Underlying RSUs | ​ | Grant Date Fair Value
Unvested at December 31, 2023 | ​ | 326,848 | ​ | $ | 37.40
Granted | ​ | 617,496 | ​ | ​ | 18.26
Vested and settled | ​ | (141,350) | ​ | ​ | 37.76
Vested and deferred(1) | ​ | (42,000) | ​ | ​ | 18.07
Forfeited | ​ | (86,732) | ​ | ​ | 22.15
Unvested outstanding at December 31, 2024 | ​ | 674,262 | ​ | ​ | 22.96
Vested but subject to deferred settlement at December 31, 2024(1) | ​ | 42,000 | ​ | ​ | 18.07
Outstanding at December 31, 2024 | ​ | 716,262 | ​ | $ | 22.67
(1) | The Company granted certain RSUs to the Company’s non-employee directors which provided for deferred settlement of the RSUs to a specified date following the first to occur of (i) the date of the director’s separation from service, (ii) the date of the director’s disability, (iii) the date of the director’s death or (iv) the date of a change in control event.

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- Definition Tabular disclosure of the changes in outstanding nonvested restricted stock shares. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Subparagraph (c) -Paragraph 2 -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
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- Definition Tabular disclosure of cost recognized for award under share-based payment arrangement by plan. Includes, but is not limited to, related tax benefit. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(1) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
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- Definition Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c)(1) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (d) -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (e) -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
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- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 718 -SubTopic 10 -Subparagraph (f)(2) -Name Accounting Standards Codification -Paragraph 2 -Section 50 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
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