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Company reports as filed with the U.S. Securities and Exchange Commission.
| Metric | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 |
|---|---|---|---|---|
| Revenue | — | — | 632,000 | −2m |
| Research and development | 63m | 22m | 21m | 23m |
| Selling, general and administrative | 31m | 30m | 28m | 29m |
| Operating expenses | 94m | 51m | 73m | 52m |
| Operating income | −94m | −51m | −72m | −53m |
| Pre-tax income | −88m | −50m | −82m | −141m |
| Income tax | — | 0 | 0 | 103,000 |
| Net income | −46m | −22m | −208m | −371m |
| Earnings per share | −0.21 | −0.12 | −1.09 | −1.96 |
| Earnings per share, diluted | −0.21 | −0.12 | −1.09 | −1.96 |
| Weighted average shares | 220m | 187m | 191m | 190m |
| Weighted average shares, diluted | 220m | 187m | 191m | 190m |
| Metric | Aug 19, 2026 | Aug 18, 2026 | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 |
|---|---|---|---|---|---|---|---|
| Cash and equivalents | — | — | 211m | 68m | 292m | 343m | 553m |
| Short-term investments | — | — | 210,000 |
| Metric | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 |
|---|---|---|---|---|
| Operating cash flow | −21m | −53m | −73m | −50m |
| Depreciation and amortisation | 68,000 | 261,000 | 475,000 | 206,000 |
| Share-based compensation | 6m | −2m | 10m | 13m |
| Capital expenditure |
Amounts in USD unless stated otherwise. Sources: Nasdaq Trader, Yahoo Finance, U.S. Securities and Exchange Commission (EDGAR)
| 105m |
| 20m |
| — |
| — |
| Current assets | — | — | 218m | 177m | 330m | — | — |
| Property, plant and equipment | — | — | 140,000 | 201,000 | 2m | — | — |
| Total assets | — | — | 261m | 213m | 369m | — | — |
| Current liabilities | — | — | 27m | 8m | 58m | — | — |
| Total liabilities | — | — | 30m | 12m | 126m | — | — |
| Equity | — | — | 231m | 201m | 243m | 418m | 715m |
| Shares outstanding | — | — | 265m | 187m | 186m | — | 184m |
| Shares issued | — | — | 265m | 187m | 186m | — | 184m |
| 7,000 |
| 48,000 |
| 164,000 |
| 2m |
| Investing cash flow | 105m | −136m | −15m | −5m |
| Financing cash flow | 58m | −335,000 | −8m | 4m |