XML 26 R7.htm IDEA: XBRL DOCUMENT v3.25.4
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (66,458,000) $ (61,183,000)
Adjustments to reconcile net loss to net cash used in operating activities:    
Share based compensation 468,000 4,709,000
Impairment of long-lived assets 5,794,000 5,260,000
Impairment of goodwill 0 12,209,000
Depreciation and amortization 5,845,000 5,800,000
Non-cash lease expenses 3,332,000 1,443,000
Unrealized foreign exchange loss 3,742,000 (649,000)
Change in contingent consideration 26,000 866,000
Non-cash interest expense 51,000 48,000
Deferred tax benefit (175,000) (44,000)
Profit on sale of property and equipment (245,000) 0
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets 1,704,000 3,643,000
Research and development incentives receivable 6,417,000 (2,345,000)
Accounts payable (2,202,000) 898,000
Accrued expenses and other current liabilities (3,793,000) 456,000
Deferred income (506,000) 1,738,000
Operating lease liabilities (1,979,000) (1,789,000)
Net cash used in operating activities (47,979,000) (28,940,000)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Proceeds from sale of property and equipment 453,000 0
Purchases of property and equipment (37,000) (892,000)
Net cash provided by/(used) in investing activities 416,000 (892,000)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Issue of shares from the exercise of stock options 2,000 0 [1]
Proceeds from issue of ordinary shares, net of issuance costs 0 2,163,000
Net cash provided by financing activities 2,000 2,163,000
Effect of exchange rates on cash, cash equivalents and restricted cash 7,013,000 (2,021,000)
Net decrease in cash, cash equivalents and restricted cash (40,548,000) (29,690,000)
Cash, cash equivalents and restricted cash, beginning of the period 112,400,000 142,090,000
Cash, cash equivalents and restricted cash, end of the period $ 71,852,000 $ 112,400,000
[1] Indicates amount less than one thousand