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Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
Current assets    
Cash and cash equivalents $ 64,886 $ 121,330
Short-term investments 71,648 26,004
R&D benefit receivable 16,796 24,396
Other current assets 16,419 14,664
Trade receivables 41 972
Total current assets 169,790 187,366
Property, plant and equipment 1,693 1,818
Operating lease right-of-use asset 107 157
Goodwill 9,784 9,392
Other intangible assets 310 312
Other long-term assets 3,614 3,590
Total assets 185,298 202,635
Current liabilities    
Contract liabilities (392) (306)
Trade and other payables (18,812) (16,399)
Operating lease liabilities, current (60) (117)
Total current liabilities (19,264) (16,822)
Contract liabilities (53,291) (51,790)
Total liabilities (72,555) (68,612)
Commitments and contingencies (Note 11)
Shareholders' equity    
Ordinary shares - par value 0.05 per share; 141,690,850 shares issued at March 31, 2025 (December 31, 2024: 141,674,074) (10,289) (10,288)
Additional paid-in capital (613,074) (609,560)
Accumulated deficit 502,536 474,044
Accumulated other comprehensive loss 8,084 11,781
Total shareholders' equity (112,743) (134,023)
Total liabilities and shareholders' equity $ (185,298) $ (202,635)