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Revision of Immaterial Misstatements (Tables)

12 Months Ended

Dec. 31, 2022

Revision of Immaterial Misstatements

Schedule of revision of financial statements

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​	​	​	​	​	​	​	​	​	​	​
​			Year Ended
​	​	​	December 31, 2021
​			As reported		​	​	Adjustment		As revised
(in thousands)			​		​	​	​		​
Research and license revenue		​	$	5,000	​	$	350	​	$	5,350
Total revenue		​	$	5,000	​	$	350	​	$	5,350
Research and development expenses		​	$	(37,193)	​	$	248	​	$	(36,945)
General and administrative expenses		​	$	(12,160)	​	$	142	​	$	(12,018)
Total operating expenses		​	$	(49,353)	​	$	390	​	$	(48,963)
Operating loss		​	$	(44,353)	​	$	740	​	$	(43,613)
Foreign currency exchange gain (loss), net		​	$	(212)	​	$	2,252	​	$	2,040
Total non-operating income (loss)		​	$	(837)	​	$	2,252	​	$	1,415
Loss before income tax		​	$	(45,190)	​	$	2,992	​	$	(42,198)
Loss for the year		​	$	(45,347)	​	$	2,992	​	$	(42,355)
Foreign currency translation adjustment		​	$	(6,210)	​	$	568	​	$	(5,642)
Total comprehensive loss		​	$	(51,557)	​	$	3,560	​	$	(47,997)
​	​	​	​	​	​	​	​	​	​	​
​	​	​	​	​	​	​	​	​	​	​
​			Year Ended
​	​	​	December 31, 2020
​			As reported		​	​	Adjustment		As revised
(in thousands)			​		​	​	​		​
Research and license revenue		​	$	3,500	​	$	247	​	$	3,747
Total revenue		​	$	3,500	​	$	247	​	$	3,747
Operating loss		​	$	(14,920)	​	$	247	​	$	(14,673)
Foreign currency exchange gain (loss), net		​	$	(201)	​	$	(668)	​	$	(869)
Total non-operating income (loss)		​	$	(543)	​	$	(668)	​	$	(1,211)
Loss before income tax		​	$	(15,463)	​	$	(421)	​	$	(15,884)
Loss for the year		​	$	(15,506)	​	$	(421)	​	$	(15,927)
Foreign currency translation adjustment		​	$	(577)	​	$	375	​	$	(202)
Total comprehensive loss		​	$	(16,083)	​	$	(46)	​	$	(16,129)
​	​	​	​	​	​	​	​	​	​	​

In the Consolidated Statements of Financial Position and Changes in Equity, we have revised the following:

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December 31, 2021

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December 31, 2020

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As reported

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Adjustment

As revised

As reported

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Adjustment

As revised

(in thousands)

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Equity-settled employee benefits reserve

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$

5,219

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​

(390)

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​

4,829

​

​

922

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​

—

​

​

922

Foreign currency translation reserve

​

​

$

(4,042)

​

$

(2,181)

​

$

(6,223)

​

$

(1,003)

​

$

421

​

$

(581)

Accumulated deficit

​

​

$

(78,733)

​

$

2,571

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$

(76,162)

​

$

(33,386)

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$

(421)

​

$

(33,807)

Equity:

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​

$

118,367

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$

—

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$

118,367

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$

7,622

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$

—

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$

7,622

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In the Consolidated Statements of Cash Flows, we have revised the following:

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​	​	​	​	​	​	​	​	​	​	​
​			Year Ended
​	​	​	December 31, 2021
​			As reported		​	​	Adjustment		As revised
(in thousands)	​	​	​	​	​	​	​	​	​	​
Loss before income tax	​	​	$	(45,190)	​	$	2,992	​	$	(42,198)
Foreign currency exchange gain (loss), net	​	​	$	562	​	$	(2,602)	​	$	(2,040)
Share-based compensation expense	​	​	$	4,297	​	$	(390)	​	$	3,907
Cash and cash equivalents at end of year	​	​	$	90,869	​	$	—	​	$	90,869
​	​	​	​	​	​	​	​	​	​	​
​	​	​	​	​	​	​	​	​	​	​
​			Year Ended
​	​	​	December 31, 2020
​			As reported		​	​	Adjustment		As revised
(in thousands)	​	​	​	​	​	​	​	​	​	​
Loss before income tax	​	​	$	(15,463)	​	$	(421)	​	$	(15,884)
Foreign currency exchange gain (loss), net	​	​	$	448	​	$	421	​	$	869
Cash and cash equivalents at end of year	​	​	$	15,818	​	$	—	​	$	15,818
​	​	​	​	​	​	​	​	​	​	​

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- Definition

Tabular disclosure of prior period adjustments to previously issued financial statements including (1) the effect of the correction on each financial statement line item and any per-share amounts affected for each prior period presented (2) the cumulative effect of the change on retained earnings or other appropriate components of equity or net assets in the statement of financial position, as of the beginning of the earliest period presented, and (3) the effect of the prior period adjustments (both gross and net of applicable income tax) on the net income of each prior period presented in the entity's annual report for the year in which the adjustments are made.

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