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Segment Information (Tables)
12 Months Ended
Dec. 31, 2025
Segment Information [Abstract]  
Schedule of Operating Segments
For the year ended December 31, 2025
Wholly-Owned
Segment
$
Controlled
Founded
Entities
Segment
$
Parent
Company and
Other
$
Consolidated
$
Contract revenue
4,659
4,659
Total revenue
4,659
4,659
General and administrative expenses
(11,401)
(120)
(35,097)
(46,618)
Research and development expenses
(55,900)
(701)
34
(56,567)
Total operating expenses
(67,301)
(821)
(35,063)
(103,185)
Operating income/(loss)
(67,301)
(821)
(30,405)
(98,527)
Income/(expenses) not allocated to segments
Other income/(expense):
Gain/(loss) on investment held at fair value
38,485
Realized gain/(loss) on sale of investments
375
Gain/(loss) on investment in notes from associates
(3,628)
Other income/(expense)
1,331
Total other income/(expense)
36,564
Net finance income/(costs)
(32,735)
Share of net income/(loss) of associates accounted for using the
equity method
(17,928)
Gain on dilution of ownership interest in associate
1,699
Income/(loss) before taxes
(110,927)
As of December 31, 2025
Available Funds
Cash and cash equivalents
6,361
116
245,993
252,470
Short-term Investments
24,829
24,829
Consolidated cash, cash equivalents and short-term investments
6,361
116
270,822
277,299
4.
Segment Information continued
For the year ended December 31, 2024
Wholly-Owned 
Segment
$
Controlled
Founded
Entities
Segment
$
Parent
Company and
Other
$
Consolidated
$
Contract revenue
4,315
4,315
Grant revenue
513
513
Total revenue
513
4,315
4,828
General and administrative expenses
(8,888)
(173)
(62,408)
(71,469)
Research and development expenses
(56,849)
(672)
(11,933)
(69,454)
Total operating expenses
(65,737)
(845)
(74,341)
(140,923)
Operating income/(loss)
(65,224)
(845)
(70,026)
(136,095)
Income/(expenses) not allocated to segments
Other income/(expense):
Gain on deconsolidation
151,808
Gain/(loss) on investment held at fair value
(2,398)
Realized gain/(loss) on sale of investments
151
Gain/(loss) on investment in notes from associates
13,131
Other income/(expense)
961
Total other income/(expense)
163,652
Net finance income/(costs)
4,773
Share of net income/(loss) of associates accounted for using the
equity method
(8,754)
Gain on dilution of ownership interest in associate
199
Income/(loss) before taxes
23,774
As of December 31, 2024
Available Funds
Cash and cash equivalents
9,062
432
271,148
280,641
Short-term Investments
86,666
86,666
Consolidated cash, cash equivalents and short-term investments
9,062
432
357,814
367,307
For the year ended December 31, 2023
Wholly-Owned
Segment
$
Controlled
Founded
Entities
Segment
$
Parent
Company and
Other
$
Consolidated
$
Contract revenue
750
750
Grant revenue
270
2,310
2,580
Total revenue
270
750
2,310
3,330
General and administrative expenses
(13,203)
(562)
(39,530)
(53,295)
Research and development expenses
(87,069)
(672)
(8,494)
(96,235)
Total operating expenses
(100,272)
(1,233)
(48,024)
(149,530)
Operating income/(loss)
(100,002)
(483)
(45,714)
(146,199)
Income/(expenses) not allocated to segments
Other income/(expense):
Gain on deconsolidation
61,787
Gain/(loss) on investment held at fair value
77,945
Realized gain/(loss) on sale of investments
(122)
Gain/(loss) on investment in notes from associates
(27,630)
Other income/(expense)
(908)
Total other income/(expense)
111,072
Net finance income/(costs)
5,078
Share of net income/(loss) of associates accounted for using the
equity method
(6,055)
Income/(loss) before taxes
(36,103)