v3.26.1
Consolidated Statement of Comprehensive Income/(Loss) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Profit or loss [abstract]      
Contract revenue $ 4,659 $ 4,315 $ 750
Grant revenue 0 513 2,580
Total revenue 4,659 4,828 3,330
Operating expenses:      
General and administrative expenses (46,618) (71,469) (53,295)
Research and development expenses (56,567) (69,454) (96,235)
Operating income/(loss) (98,527) (136,095) (146,199)
Other income/(expense):      
Gain/(loss) on deconsolidation of subsidiary 0 151,808 61,787
Gain/(loss) on investments held at fair value 38,485 (2,398) 77,945
Realized gain/(loss) on sale of investments 375 151 (122)
Gain/(loss) on investments in notes from associates (3,628) 13,131 (27,630)
Other income/(expense) 1,331 961 (908)
Other income/(expense) 36,564 163,652 111,072
Finance income/(costs):      
Finance income 13,048 22,669 16,012
Finance costs – contractual (1,876) (1,731) (3,424)
Finance income/(costs) – fair value accounting 0 (8,108) 2,650
Finance costs – non-cash interest expense related to sale of future royalties (43,908) (8,058) (10,159)
Net finance income/(costs) (32,735) 4,773 5,078
Share of net income/(loss) of associates accounted for using the equity method (17,928) (8,754) (6,055)
Gain/(loss) on dilution of ownership interest in associates 1,699 199 0
Income/(loss) before taxes (110,927) 23,774 (36,103)
Tax benefit/(expense) 842 4,008 (30,525)
Income/(loss) for the year (110,084) 27,782 (66,628)
Other comprehensive income/(loss):      
Equity-accounted associates – share of other comprehensive income/(loss) 0 0 92
Total other comprehensive income/(loss) 0 0 92
Total comprehensive income/(loss) for the year (110,084) 27,782 (66,535)
Income/(loss) attributable to:      
Owners of the Group (109,739) 53,510 (65,697)
Non-controlling interests (345) (25,728) (931)
Comprehensive income/(loss) attributable to:      
Owners of the Group (109,739) 53,510 (65,604)
Non-controlling interests $ (345) $ (25,728) $ (931)
Earnings/(loss) per share:      
Basic earnings/(loss) per share (in dollars per share) $ (0.46) $ 0.21 $ (0.24)
Diluted earnings/(loss) per share (in dollars per share) $ (0.46) $ 0.21 $ (0.24)