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CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY - USD ($)
$ in Thousands
Total
Initial Public Offering
Private Placement by Genscript
Follow-On Public Offering
Share Capital
Share Capital
Initial Public Offering
Share Capital
Follow-On Public Offering
Share Premium
Share Premium
Initial Public Offering
Share Premium
Private Placement by Genscript
Share Premium
Follow-On Public Offering
Share-based Compensation Reserves
Foreign Currency Translation Reserve
Retained Earnings/(Accumulated Losses)
Beginning balance at Dec. 31, 2018 $ 8,649       $ 20     $ 3,908 [1]       $ 704 [1] $ (1,673) [1] $ 5,690 [1]
Loss for the year (132,972)                         (132,972)
Other comprehensive income/ loss:                            
Exchange differences on translation of foreign operations 182                       182  
TOTAL COMPREHENSIVE LOSS FOR THE YEAR (132,790)                       182 (132,972)
Equity-settled share-based compensation expense 1,272                     1,272    
Ending balance at Dec. 31, 2019 (122,869)       20     3,908 [1]       1,976 [1] (1,491) [1] (127,282) [1]
Loss for the year (303,477)                         (303,477)
Other comprehensive income/ loss:                            
Exchange differences on translation of foreign operations (2,142)                       (2,142)  
TOTAL COMPREHENSIVE LOSS FOR THE YEAR (305,619)                       (2,142) (303,477)
Conversion of convertible redeemable preferred shares to ordinary shares 240,434       2     240,432            
Issuance of ordinary shares   $ 450,085 $ 12,000     $ 4     $ 450,081 $ 12,000        
Exercise of share options 1,464       1     1,885       (422)    
Equity-settled share-based compensation expense 4,760                     4,760    
Ending balance at Dec. 31, 2020 280,255       27     708,306 [1]       6,314 [1] (3,633) [1] (430,759) [1]
Loss for the year (386,209)                         (386,209)
Other comprehensive income/ loss:                            
Exchange differences on translation of foreign operations 10,620                       10,620  
TOTAL COMPREHENSIVE LOSS FOR THE YEAR (375,589)                       10,620 (386,209)
Issuance of ordinary shares       $ 323,440     $ 2       $ 323,438      
Issuance of ordinary shares relating to private placement for an institutional investor 218,300       2     218,298            
Exercise of share options 4,642             6,089       (1,447)    
Reclassification of vested restricted stock units               5,323       (5,323)    
Equity-settled share-based compensation expense 20,158                     20,158    
Ending balance at Dec. 31, 2021 $ 471,206       $ 31     $ 1,261,454 [1]       $ 19,702 [1] $ 6,987 [1] $ (816,968) [1]
[1] These reserve accounts comprise the consolidated reserves/(deficits) of US$471.2 million, US$280.2 million and (US$122.9 million) in the consolidated statements of financial position as at December 31, 2021, 2020 and 2019, respectively.