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Condensed Statements of Operations and Comprehensive Loss - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
OPERATING EXPENSES:        
Research and development $ 29,069 $ 19,818 $ 53,970 $ 38,853
General and administrative 14,253 12,846 27,925 25,599
Total operating expenses 43,322 32,664 81,895 64,452
Loss from operations: (43,322) (32,664) (81,895) (64,452)
OTHER INCOME, NET:        
Benefit from R&D tax credit 3,709 2,520 6,810 6,836
Interest income 2,408 638 4,668 1,342
Interest expense (1,112) 0 (2,210) 0
Foreign exchange gains (losses) 225 1,376 (558) 4,061
Other income (expense), net 167 (11) 295 (6)
Total other income, net 5,397 4,523 9,005 12,233
Loss before income taxes (37,925) (28,141) (72,890) (52,219)
Income tax expense (176) (194) (398) (324)
Net loss $ (38,101) $ (28,335) $ (73,288) $ (52,543)
Net loss per share attributable to ordinary shareholders - basic (in dollars per share) $ (560) $ (620) $ (1,110) $ (1,190)
Net loss per share attributable to ordinary shareholders - diluted (in dollars per share) $ (560) $ (620) $ (1,110) $ (1,190)
Weighted average ordinary shares outstanding - basic (in shares) 68,371,139 45,565,991 66,296,658 44,153,772
Weighted average ordinary shares outstanding - diluted (in shares) 68,371,139 45,565,991 66,296,658 44,153,772
Other comprehensive loss:        
Foreign exchange translation adjustment $ 81 $ 717 $ 45 $ 139
Other comprehensive loss: $ (38,020) $ (27,618) $ (73,243) $ (52,404)