Ordinary Shares

6 Months Ended

Jun. 30, 2022

Equity [Abstract]

Ordinary Shares

Ordinary SharesDuring the six months ended June 30, 2022, the Company issued in total 431,885 ordinary shares to settle share options exercised by employees and non-employees compared to 1,165,004 in the six months ended June 30, 2021. Of the shares

issued in the six months ended June 30, 2021, 232,227 were related to options exercised in 2020 for which shares were delivered in 2021.

During the six months ended June 30, 2022, a total of 70,638 ordinary shares were issued in settlement of restricted share units, of which 12,763 vested and were issued during the six months ended June 30, 2022 and 57,875 vested but had not been issued at December 31, 2021.

In the six months ended June 30,2021, 8,556 restricted share units vested but were not issued. No restricted share units vested and were issued in the six months ended June 30, 2021.

On May 4, 2021, the Company sold 4,000,000 ordinary shares in connection with its follow-on offering. On May 19, 2021 the underwriters exercised their option to purchase an additional 600,000 ordinary shares. This capital raise resulted in net proceeds of approximately $154.8 million after deducting underwriting fees and offering costs.

Each ordinary share entitles the holder to one vote on all matters submitted to a vote of the Company’s shareholders. Ordinary shareholders are entitled to receive dividends, if any, as may be declared by the board of directors. Through June 30, 2022, no cash dividends had been declared or paid by the Company.