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Segment Reporting (Tables)

12 Months Ended

Dec. 31, 2024

Segment Reporting [Abstract]

Summary of Segment Information

The table below provides segment information about the Group:

		Year Ended December 31,
			2024				2023				2022
		$000s				$000s				$000s
Revenue			43,258				31,643				21,655
Less:
Cost of sales			(11,810	)			(12,867	)			(13,463	)
Contracted development costs (a)			(42,902	)			(35,048	)			(24,322	)
Personnel research and development costs (b)			(20,503	)			(19,468	)			(17,187	)
Other R&D costs (c)			(4,478	)			(2,421	)			(2,041	)
General & administrative expenses			(26,884	)			(26,222	)			(25,682	)
Tax expense			(845	)			(956	)			(688	)
Other segment items (d)			18,855				11,111				11,394
Consolidated net loss			(45,309	)			(54,228	)			(50,334	)

(a)Contracted development costs primarily consist of costs incurred under agreements with CROs and investigative sites that conduct its preclinical studies and clinical trials; costs related to manufacturing active pharmaceutical ingredients and drug products for its preclinical studies and clinical trials; and costs for materials used for in-house research and development activities.

(b)Personnel R&D costs primarily consist of salaries and personnel-related costs for personnel performing R&D activities or managing those activities that have been out-sourced; and consultants’ costs associated with target selection, preclinical and clinical research activities, and the progression of programs towards clinical trials.

(c)Other R&D costs include associated facility costs, equipment and other overheads that are directly attributable to R&D and depreciation of capital assets used for research and development activities.

(d)The other segment items include foreign currency gain (loss), net, benefit from R&D credit, and other income/ (expense), net inclusive of bank interest receivable and accretion on U.S. Treasury Bills.

Summary of Group's Assets and Revenues by Location

An analysis of the group’s assets and revenues by location is shown below:

		U.S.A.				U.K.				Germany				Total
		$000s				$000s				$000s				$000s
Non-current assets
As at December 31, 2023			-				4,467				11,831				16,298
As at December 31, 2024			-				4,103				11,166				15,269
Revenue analysis for the year ended December 31, 2022
Research collaboration			-				20,940				-				20,940
Royalties			-				-				715				715
			-				20,940				715				21,655
Revenue analysis for the year ended December 31, 2023
Research collaboration			-				30,934				-				30,934
Royalties			-				-				709				709
			-				30,934				709				31,643
Revenue analysis for the year ended December 31,    2024
Research collaboration			-				43,114				-				43,114
Royalties			-				-				144				144
			-				43,114				144				43,258

X

- Definition

Tabular disclosure of information concerning material long-lived assets (excluding financial instruments, customer relationships with financial institutions, mortgage and other servicing rights, deferred policy acquisition costs, and deferred taxes assets) located in identified geographic areas and/or the amount of revenue from external customers attributed to that country from which revenue is material. An entity may also provide subtotals of geographic information about groups of countries.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(1))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483621/220-10-S99-2

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-Name Accounting Standards Codification
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- Definition

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
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-Publisher FASB
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