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Share-based Payments (Tables)
12 Months Ended
Dec. 31, 2023
Share-based Payments [Abstract]  
Schedule of Share-Based Payment Expense as Reflected in the Consolidated Statement of Income/(Loss) The following table provides the classification of the Group’s consolidated share-based payment expense as reflected in the Consolidated Statement of Income/(Loss):
Year ended December 31,
2023
$
2022
$
2021
$
General and administrative3,185 8,862 9,310 
Research and development1,230 5,837 4,640 
Total4,415 14,699 13,950 
Schedule of RSU Activity
RSU activity for the years ended December 31, 2023, 2022 and 2021 is detailed as follows:
Number of Shares/Units
Weighted Average Grant Date Fair Value (GBP) (*)
Outstanding (Non-vested) at January 1, 20213,422,582 2.46 
RSUs Granted in Period2,195,133 2.15 
Vested(1,176,695)2.93 
Forfeited(808,305)2.25 
Outstanding (Non-vested) at December 31, 2021 and January 1, 20223,632,715 1.91 
RSUs Granted in Period4,309,883 1.76 
Vested(696,398)2.80 
Forfeited(1,155,420)2.67 
Outstanding (Non-vested) at December 31, 2022 and January 1, 20236,090,780 1.74 
RSUs Granted in Period3,679,669 1.28 
Vested(716,029)2.00 
Forfeited(1,880,274)1.94 
Outstanding (Non-vested) at December 31, 20237,174,146 1.10 
*    For liability awards - based on fair value at reporting date.
Schedule of Stock Option Activity
Stock option activity for the years ended December 31, 2023, 2022 and 2021, is detailed as follows:
Number of OptionsWtd Average Exercise Price (GBP)Wtd Average of
remaining contractual
term (in years)
Wtd Average Stock Price at Exercise (GBP)
Outstanding at January 1, 202110,916,086 1.81 8.38
Granted5,424,000 3.34 
Exercised(2,238,187)0.70 3.63
Forfeited and expired(687,781)2.53 
Options Exercisable at December 31, 2021 and January 1, 20224,773,873 1.42 6.50
Outstanding at December 31, 2021 and January 1, 202213,414,118 2.58 8.29
Granted8,881,000 2.04 
Exercised(577,022)0.50 2.43
Forfeited and expired(3,924,215)2.89 
Options Exercisable at December 31, 2022 and January 1, 20236,185,216 2.03 6.21
Outstanding at December 31, 2022 and January 1, 202317,793,881 2.31 8.03
Granted3,120,975 2.22 
Exercised(534,034)1.71 2.46
Forfeited and expired(3,424,232)2.40 
Options Exercisable at December 31, 20239,065,830 2.19 6.01
Outstanding at December 31, 202316,956,590 2.29 7.20
Schedule of Terms and Conditions of Share-Based Payment Arrangement
The fair value of the stock options awarded by the Group was estimated at the grant date using the Black-Scholes option valuation model, considering the terms and conditions upon which options were granted, with the following weighted-average assumptions:
At December 31,
2023
2022
2021
Expected volatility43.69 %41.70 %41.05 %
Expected terms (in years)6.166.116.16
Risk-free interest rate4.04 %2.13 %1.06 %
Expected dividend yield — — 
Exercise price (GBP)2.222.043.34
Underlying stock price (GBP)2.222.043.34
Schedule of Range of Exercise Prices of Outstanding Share Options
For shares outstanding as of December 31, 2023, the range of exercise prices is detailed as follows:
Range of Exercise Prices (GBP)Options
Outstanding
Wtd
Average
Exercise
Price (GBP)
Wtd Average of
remaining contractual
term (in years)
0.01
439,490 — 5.76
1.00 to 2.00
4,989,572 1.54 5.64
2.00 to 3.00
6,664,028 2.25 8.55
3.00 to 4.00
4,863,500 3.33 7.10
Total16,956,590 2.29 7.20
Schedule of Subsidiary Share-Based Payments A summary of stock option activity by number of shares in these subsidiaries is presented in the following table:
Outstanding as of January 1, 2023
Granted During the YearExercised During the YearExpired During the YearForfeited During the YearDeconsolidation During the Year
Outstanding as of December 31, 2023
Entrega344,500      344,500 
Follica2,776,120   (2,170,547)(605,573)  
Vedanta1,824,576   (1,313)(29,607)(1,793,656) 
Outstanding as of January 1, 2022
Granted During the YearExercised During the YearExpired During the YearForfeited During the YearDeconsolidation During the Year
Outstanding as of December 31, 2022
Entrega349,500 45,000 — (50,000)— — 344,500 
Follica2,686,120 90,000 — — — — 2,776,120 
Sonde2,049,004 — — — — (2,049,004)— 
Vedanta1,991,637 490,506 (400,000)(65,235)(192,332)— 1,824,576 
Outstanding as of January 1, 2021
Granted During the YearExercised During the YearExpired During the YearForfeited During the YearDeconsolidation During the Year
Outstanding as of December 31, 2021
Alivio3,888,168 197,398 (2,373,750)(506,260)(1,205,556)— — 
Entrega962,000 — (525,000)(87,500)— — 349,500 
Follica1,309,040 1,383,080 — (6,000)— — 2,686,120 
Sonde2,192,834 — — (51,507)(92,323)— 2,049,004 
Vedanta1,741,888 451,532 (52,938)(76,491)(72,354)— 1,991,637 
Schedule of Weighted Average Exercise Prices for Options Outstanding
The weighted-average exercise prices and remaining contractual life for the options outstanding as of December 31, 2023, were as follows:
Outstanding at December 31, 2023
Number of options
Weighted-average exercise price
$
Weighted-average contractual life outstanding
Entrega344,500 1.91 3.92
Schedule of Weighted Average Exercise Prices for Options Granted The weighted average exercise prices for the options granted for the years ended December 31, 2022 and 2021, were as follows:
For the years ended December 31,
2022
$
2021
$
Entrega0.02 — 
Follica1.86 1.86 
Vedanta
14.94 19.69 
Schedule of Weighted Average Exercise Prices for Options Forfeited
The weighted average exercise prices for options forfeited during the year ended December 31, 2023, were as follows:
Forfeited during the year ended December 31, 2023Number of options
Weighted-average exercise price
$
Follica605,573 1.86 
Vedanta29,607 17.06 
Schedule of Weighted Average Exercise Prices for Options Exercisable
The weighted average exercise prices for options exercisable as of December 31, 2023, were as follows:
Exercisable at December 31, 2023Number of Options
Weighted-average exercise price
$
Exercise Price Range
$
Entrega329,500 1.99
0.02-2.36