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Prepaid Expenses and Other Current Assets | 6 Months Ended
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Jun. 30, 2024
Prepaid Expense and Other Assets, Current [Abstract] |
Prepaid Expenses and Other Current Assets | 5. Prepaid expenses and other current assets Prepaid expenses and other current assets consisted of the following:
|  | June 30, |  |  | December 31, |
|  | 2024 |  |  | 2023 |
|  | ($'000) |  |  | ($'000) |
VAT receivable |  | $ | 653 |  |  | $ | 599 |
Prepaid research and development services |  |  | 1,204 |  |  |  | 632 |
Insurance claim receivable |  |  | — |  |  |  | 1,950 |
Employee taxes on PSU vesting to be remitted |  |  | 1,602 |  |  |  | — |
Security deposits |  |  | 475 |  |  |  | 615 |
Other prepaid expense and current assets |  |  | 555 |  |  |  | 1,360 |
Total |  | $ | 4,489 |  |  | $ | 5,156 |
In June 2024, ADSs were sold on behalf of certain employees upon vesting of PSUs to cover ensuing income tax and social security obligations. Proceeds of $1.6 million were owed to the Company by its broker at June 30, 2024 and received shortly thereafter. The Company used these funds to settle its liability (see Note 8) to remit these amounts to the relevant taxing authorities on the employees' behalf.

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