v3.24.0.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Cash flows from operating activities    
Net loss $ (57,513) $ (161,823)
Adjustments to reconcile net loss to net cash used in operating activities:    
Amortization of right-of-use assets 4,206 3,540
Depreciation of property and equipment 5,000 6,574
Share-based compensation expense 9,795 17,194
Loss on disposal of property and equipment   12
Changes in operating assets and liabilities:    
Accounts receivable (21,086)  
Prepaid expenses (1,980) (1,348)
Other assets (2,010) 3,394
Accounts payable (3,761) 9,348
Accrued expenses and other current liabilities (724) 2,691
Deferred revenue 54,328 (3,245)
Operating lease liabilities (5,496) (4,308)
Other non-current liabilities (190) 190
Net cash used in operating activities (19,431) (127,781)
Cash flows from investing activities    
Purchases of property and equipment (1,115) (1,361)
Proceeds from the sale of property and equipment   106
Purchase of short-term investments   (75,044)
Proceeds from the maturity of short-term investments   75,044
Net cash used in investing activities (1,115) (1,255)
Cash flows from financing activities    
Proceeds from issuance of ordinary shares 93,574 51,220
Proceeds from issuance pre-funded warrants, net of offering costs   14,268
Proceeds from issuance of ordinary shares pursuant to the GSK Collaboration Agreement 34,623  
Proceeds from issuance of ordinary shares pursuant to the at-the-market equity program, net 3,080 1,105
Proceeds from the exercise of share options 509 223
Proceeds from the ESPP 748 372
Net cash provided by financing activities 132,534 67,188
Effect of foreign exchange rates on cash (95) (210)
Net increase (decrease) in cash, cash equivalents and restricted cash 111,893 (62,058)
Cash, cash equivalents and restricted cash, beginning of period 92,157 154,215
Cash, cash equivalents and restricted cash, end of period 204,050 92,157
Supplemental disclosure of cash flow information:    
Offering costs in accounts payable at period end $ 210  
Increase in operating lease right-of-use assets and lease liabilities related to new lease   $ 12,006