16Subsequent events

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As of September 30, 2025, the Company recorded its liability related to pre-funded warrants (refer to Note 5, “Fair value Measurement”) at a fair value of $30.7 million. The Company determined the fair value of the liability using the closing market price of its ordinary shares of $58.37 per ordinary share as of September 30, 2025. On November 3, 2025 the Company announced preliminary feedback from the FDA based on discussions at the Company’s pre-BLA meeting. Following such announcement, there was a decrease of the market price of the Company’s ordinary shares to $34.29 per ordinary share as of the close of the market on November 3, 2025. This reduced the fair value of the liability related to pre-funded warrants by $12.7 million to $18.0 million. The Company will determine the fair value of its liability related to pre-funded warrants based on the price of its ordinary shares at the close of the market on December 31, 2025. The Company will record the difference between the fair value as of September 30, 2025 and December 31, 2025 in income during the twelve month period ended December 31, 2025.

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