Share-based compensation (Tables)

9 Months Ended

Sep. 30, 2022

Share-based compensation

Schedule of share-based compensation expense by classification included in consolidated statements of operations and comprehensive loss

	Three months ended September 30,				Nine months ended September 30,
	2022		2021		2022		2021
	(in thousands)				(in thousands)
Research and development	$	3,730	$	3,249	$	12,090	$	9,222
Selling, general and administrative		3,758		2,707		9,932		9,525
Cost of contract manufacturing		120		—		268		—
Total	$	7,608	$	5,956	$	22,290	$	18,747

Schedule of share-based compensation expense

	Three months ended September 30,				Nine months ended September 30,
	2022		2021		2022		2021
	(in thousands)				(in thousands)
Award type/ESPP
Share options	$	3,448	$	2,965	$	10,141	$	9,155
Restricted share units		3,957		2,582		11,354		8,364
Performance share units		197		403		777		1,206
ESPP		6		6		18		22
Total	$	7,608	$	5,956	$	22,290	$	18,747

Schedule of unrecognized compensation cost related to unvested awards

	Unrecognized		Weighted average
	share-based		remaining
	compensation		period for
	expense		recognition
	(in thousands)		(in years)
Award type
Share options	$	27,720	2.64
Restricted share units		28,629	2.04
Total	$	56,349	2.34

Schedule of weighted-average assumptions for fair value of option issued

	Three months ended September 30,		Nine months ended September 30,
Assumptions	2022	2021	2022	2021
Expected volatility	70%	75%	70%	75%
Expected terms	10 years	10 years	10 years	10 years
Risk free interest rate	4.16%	1.47%	2.12% - 4.16%	1.21 - 1.85%
Expected dividend yield	0%	0%	0%	0%

Summary of RSUs activity

	RSU
		Weighted average
	Number of	grant-date fair
	ordinary shares	value
Non-vested at December 31, 2021	710,617	$	38.89
Granted	1,562,133	$	15.91
Vested	(283,349)	$	39.47
Forfeited	(176,110)	$	23.76
Non-vested at September 30, 2022	1,813,291	$	20.47
Total weighted average grant date fair value of RSUs granted during the period (in $ millions)		$	24.8

Summary of PSUs activity

	PSU
		Weighted average
	Number of	grant-date fair
	ordinary shares	value
Non-vested at December 31, 2021	632,930	$	33.54
Granted	34,700	$	15.11
Vested	(103,970)	$	52.14
Forfeited	(48,800)	$	29.35
Non-vested at September 30, 2022	514,860	$	28.94

2014 Plan.

Share-based compensation

Summary of option activity

	Options
	Number of	Weighted average
	ordinary shares	exercise price
Outstanding at December 31, 2021	3,308,325	$	31.02
Granted	1,399,466	$	15.75
Forfeited	(183,870)	$	38.74
Expired	(133,381)	$	35.79
Exercised	(115,884)	$	6.03
Outstanding at September 30, 2022	4,274,656	$	26.22
Thereof, fully vested and exercisable on September 30, 2022	2,068,810	$	28.33
Thereof, outstanding and expected to vest after September 30, 2022	2,205,846	$	24.24

Total weighted average grant date fair value of options issued during the period (in $ millions)	$	12.5
Proceeds from option sales during the period (in $ millions)	$	0.7