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Company reports as filed with the U.S. Securities and Exchange Commission.
| Metric | Dec 31, 2025 | Dec 31, 2024 |
|---|---|---|
| Research and development | 270m | 233m |
| Selling, general and administrative | 64m | 43m |
| Operating expenses | 333m | 276m |
| Operating income | −333m | −276m |
| Net income | −329m | −256m |
| Earnings per share | −2.16 | −1.94 |
| Earnings per share, diluted | −2.16 | −1.94 |
| Weighted average shares | 129m | 104m |
| Weighted average shares, diluted | 129m | 104m |
| Metric | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 |
|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | 241m | 312m | 125m | 128m | 126m | 98m | 97m | 88m |
| Current assets | 878m | 910m | 397m |
| Metric | Dec 31, 2025 | Dec 31, 2024 |
|---|---|---|
| Operating cash flow | −264m | −208m |
| Depreciation and amortisation | 3m | 2m |
| Share-based compensation | 46m | 40m |
| Capital expenditure | 2m | 573,000 |
| Investing cash flow | −400m | 38m |
| Financing cash flow | 878m |
Amounts in USD unless stated otherwise. Sources: Nasdaq Trader, Yahoo Finance, U.S. Securities and Exchange Commission (EDGAR)
| 245m |
| 253m |
| 296m |
| 342m |
| 370m |
| Property, plant and equipment | 5m | 5m | 5m | 6m | 6m | 6m | 7m | 7m |
| Total assets | 903m | 938m | 426m | 275m | 284m | 328m | 384m | 430m |
| Current liabilities | 58m | 64m | 62m | 58m | 49m | 56m | 53m | 40m |
| Long-term debt | — | — | 44m | 44m | — | 0 | — | — |
| Total liabilities | 295m | 301m | 123m | 120m | 65m | 72m | 69m | 57m |
| Equity | 608m | 636m | 302m | 155m | 219m | 256m | 315m | 373m |
| Shares outstanding | 171m | 161m | 140m | 114m | 114m | 110m | 110m | 109m |
| Shares issued | 171m | 161m | 140m | 114m | 114m | 110m | 110m | 109m |
| 214m |