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Loss per share | 9 Months Ended
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Sep. 30, 2025
Earnings Per Share [Abstract] |
Loss per share | Loss per share The basic loss per share is calculated by dividing the net loss attributable to shareholders by the weighted average number of shares in issue during the period, excluding common shares owned by the Company and held as treasury shares, as follows:
|  | Three Months Ended September 30, |  | Nine Months Ended September 30, |  |
(in thousands, except share and per share amounts) |  | 2025 |  | 2024 |  | 2025 |  | 2024 |  |
Net loss |  | $ | (40,966) |  |  | $ | (43,969) |  |  | $ | (136,214) |  |  | $ | (127,119) |  |  |
Weighted average number of shares outstanding |  | 136,446,534 |  |  | 104,824,877 |  |  | 119,237,877 |  |  | 94,394,355 |  |  |
Basic and diluted loss per share |  | $ | (0.30) |  |  | $ | (0.42) |  |  | $ | (1.14) |  |  | $ | (1.35) |  |  |
For the three and nine months ended September 30, 2025 and 2024, basic and diluted loss per share are calculated on the weighted average number of shares issued and outstanding and also include the June 2025 Pre-funded warrants issued in connection with the 2024 Equity Offering and the June 2025 Private Placement. The calculation excludes shares to be issued under the Share-based Compensation Plans, the Company’s Deerfield warrants and shares to be issued under the 2022 ESPP as the effect of including those shares would be anti-dilutive. See Note 8, “Senior secured term loan facility,” Note 9, “Deerfield warrants”, and Note 17, “Share-based compensation,” for further information. Potentially dilutive securities that were not included in the diluted per share calculations because the effect of including them would be anti-dilutive were as follows:
|  | Nine Months Ended September 30,
|  | 2025 |  | 2024
2019 Equity Incentive Plan - Share Options |  | 9,470,420 |  |  | 9,710,737 |
Inducement Plan - Share Options |  | 891,907 |  |  | 529,700 |
2019 Equity Incentive Plan - RSUs |  | 2,847,534 |  |  | 616,740 |
Conditional Share Capital Plan - RSUs |  | 4,169,228 |  |  | 5,055,191 |
Outstanding warrants |  | 527,295 |  |  | 4,940,135 |
|  | 17,906,384 |  |  | 20,852,503 |

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