| For the three months ended September 30, | For the nine months ended September 30, | ||||||||||||||
| 2024 | 2023 | 2024 | 2023 | ||||||||||||
| (In thousands of USD, except per share amounts) | |||||||||||||||
| Revenue | 29,111 | 2,941 | 32,791 | 13,287 | |||||||||||
| Operating expenses: | |||||||||||||||
| Research and development expenses | 35,702 | 43,371 | 116,511 | 118,132 | |||||||||||
| Selling, general and administrative expenses | 18,412 | 9,128 | 49,340 | 27,048 | |||||||||||
| Total operating expenses | 54,114 | 52,499 | 165,851 | 145,180 | |||||||||||
| Operating loss | (25,003) | (49,558) | (133,060) | (131,893) | |||||||||||
| Other income (expense): | |||||||||||||||
| Interest income | 4,443 | 3,059 | 12,396 | 8,615 | |||||||||||
| Fair value change – earnout and warrants | (770) | 2,521 | (30,028) | (4,004) | |||||||||||
| Foreign exchange gains/(losses) | 4,682 | (3,155) | 1,270 | (160) | |||||||||||
| Loss before tax | (16,648) | (47,133) | (149,422) | (127,442) | |||||||||||
| Income tax expense | (1) | — | (1) | — | |||||||||||
| Loss and comprehensive loss for the period | (16,647) | (47,133) | (149,421) | (127,442) | |||||||||||
| Net loss per ordinary share | |||||||||||||||
| Basic and diluted | $ | (0.18) | $ | (0.57) | $ | (1.61) | $ | (1.55) | |||||||
| For the three months ended September 30, | ||||||||||||
| (In thousands of USD) | 2024 | 2023 | Change | |||||||||
| Clinical expenses | 24,083 | 30,638 | (6,555) | |||||||||
| Non-clinical expenses | 707 | 1,168 | (461) | |||||||||
| Personnel expenses | 5,448 | 4,666 | 782 | |||||||||
| Manufacturing costs | 4,612 | 6,554 | (1,942) | |||||||||
| Regulatory expenses | 819 | 301 | 518 | |||||||||
| Other research and development costs | 33 | 44 | (11) | |||||||||
| Total research and development expenses | 35,702 | 43,371 | (7,669) | |||||||||
| (In thousands of USD) | September 30, 2024 | December 31, 2023 | ||||||
| Prepaid research and development costs | 8,830 | 2,337 | ||||||
| Other prepaid expenses | 1,169 | 2,123 | ||||||
| Value added tax receivable | 3,500 | 1,006 | ||||||
| Other receivables | 1,646 | 875 | ||||||
| Total prepayments and other receivables | 15,145 | 6,341 | ||||||
| (in thousands of USD) | September 30, 2024 | December 31, 2023 | ||||||
| Accrued research and development materials and services | 3,863 | 5,945 | ||||||
| Accrued compensation and benefits | 4,188 | 3,384 | ||||||
| Accrued professional fees and other | 2,529 | 2,069 | ||||||
| Total accrued expenses and other current liabilities | 10,580 | 11,398 | ||||||
| For the nine months ended September 30, | ||||||||||||
| (In thousands of USD) | 2024 | 2023 | Change | |||||||||
| Clinical expenses | 84,174 | 78,601 | 5,573 | |||||||||
| Non-clinical expenses | 1,503 | 3,166 | (1,663) | |||||||||
| Personnel expenses | 16,366 | 15,252 | 1,114 | |||||||||
| Manufacturing costs | 12,550 | 20,296 | (7,746) | |||||||||
| Regulatory expenses | 1,719 | 725 | 994 | |||||||||
| Other research and development costs | 199 | 92 | 107 | |||||||||
| Total research and development expenses | 116,511 | 118,132 | (1,621) | |||||||||
