Year ended December 31,
|
||||||||||||
|
2022
|
2021
|
||||||||||
$
|
’000
|
£
|
’000
|
£
|
’000
|
|||||||
Product revenue
|
130,610
|
108,148
|
—
|
|||||||||
Pre-product revenue
|
10,460
|
8,661
|
3,010
|
|||||||||
Total revenue from sale of therapies
|
141,070
|
116,809
|
3,010
|
|||||||||
Collaboration revenue
|
32,521
|
26,928
|
23,510
|
|||||||||
Total revenue
|
173,591
|
143,737
|
26,520
|
|||||||||
Cost of product revenue
|
(548
|
)
|
(454
|
)
|
—
|
|||||||
Net other operating income / (loss)
|
4
|
3
|
(57
|
)
|
||||||||
Research and development costs
|
(107,691
|
)
|
(89,170
|
)
|
(73,226
|
)
|
||||||
Selling and administrative expenses
|
(113,189
|
)
|
(93,723
|
)
|
(88,399
|
)
|
||||||
Operating loss
|
(47,833
|
)
|
(39,607
|
)
|
(135,162
|
)
|
||||||
Finance income
|
3,809
|
3,154
|
47
|
|||||||||
Finance costs
|
(9,290
|
)
|
(7,692
|
)
|
(5,813
|
)
|
||||||
Non-operating expense
|
(5,481
|
)
|
(4,538
|
)
|
(5,766
|
)
|
||||||
Loss before taxes
|
(53,314
|
)
|
(44,145
|
)
|
(140,928
|
)
|
||||||
Income tax credit
|
3,528
|
2,921
|
9,405
|
|||||||||
Loss for the period
|
(49,786
|
)
|
(41,224
|
)
|
(131,523
|
)
|
||||||
Basic and diluted loss per share
|
(1.09
|
)
|
(0.90
|
)
|
(3.10
|
)
|
Quarter ended December 31,
|
||||||||||||
|
2022
|
2021
|
||||||||||
$
|
’000
|
£
|
’000
|
£
|
’000
|
|||||||
Product revenue
|
52,197
|
43,220
|
—
|
|||||||||
Pre-product revenue
|
(1,117
|
)
|
(925
|
)
|
3,010
|
|||||||
Total revenue from sale of therapies
|
51,080
|
42,295
|
3,010
|
|||||||||
Collaboration revenue
|
6,964
|
5,767
|
3,583
|
|||||||||
Total revenue
|
58,044
|
48,062
|
6,593
|
|||||||||
Cost of product revenue
|
(132
|
)
|
(109
|
)
|
—
|
|||||||
Net other operating income
|
2
|
2
|
13
|
|||||||||
Research and development costs
|
(32,774
|
)
|
(27,138
|
)
|
(20,072
|
)
|
||||||
Selling and administrative expenses
|
(52,103
|
)
|
(43,143
|
)
|
(24,366
|
)
|
||||||
Operating loss
|
(26,963
|
)
|
(22,326
|
)
|
(37,832
|
)
|
||||||
Finance income
|
2,934
|
2,429
|
5
|
|||||||||
Finance costs
|
(3,837
|
)
|
(3,177
|
)
|
(1,348
|
)
|
||||||
Non-operating expense
|
(903
|
)
|
(748
|
)
|
(1,343
|
)
|
||||||
Loss before taxes
|
(27,866
|
)
|
(23,074
|
)
|
(39,175
|
)
|
||||||
Income tax expense
|
(2,571
|
)
|
(2,129
|
)
|
(214
|
)
|
||||||
Loss for the period
|
(30,437
|
)
|
(25,203
|
)
|
(39,389
|
)
|
||||||
Basic and diluted loss per share
|
(0.63
|
)
|
(0.54
|
)
|
(0.90
|
)
|
Year ended December 31,
|
||||||||||||
|
2022
|
2021
|
||||||||||
$
|
’000
|
£
|
’000
|
£
|
’000
|
|||||||
Cash and cash equivalents at beginning of the year
|
287,295
|
237,886
|
129,716
|
|||||||||
Net cash flows used in operating activities
|
(31,269
|
)
|
(25,891
|
)
|
(96,110
|
)
|
||||||
Net cash flows from / (used in) investing activities
|
233
|
193
|
(367
|
)
|
||||||||
Net cash flows from financing activities
|
138,226
|
114,454
|
204,631
|
|||||||||
Net foreign exchange difference on cash held
|
7,122
|
5,897
|
16
|
|||||||||
Cash and cash equivalents at end of the year
|
401,607
|
332,539
|
237,886
|
2022
|
2021
|
|||||||
£
|
’000
|
£
|
’000
|
|||||
Non-current assets
|
||||||||
Property, plant and equipment
|
6,472
|
8,944
|
||||||
Intangible assets
|
410
|
—
|
||||||
Right of use assets
|
25,173
|
22,593
|
||||||
Other non-current assets
|
7,342
|
4,935
|
||||||
Deferred tax asset
|
4,240
|
2,575
|
||||||
Total non-current assets
|
43,637
|
39,047
|
||||||
Current assets
|
||||||||
Inventory
|
943
|
—
|
||||||
Trade and other receivables
|
46,711
|
15,208
|
||||||
Tax receivable
|
11,688
|
9,632
|
||||||
Cash and cash equivalents
|
332,539
|
237,886
|
||||||
Total current assets
|
391,881
|
262,726
|
||||||
Total assets
|
435,518
|
301,773
|
||||||
Equity
|
||||||||
Share capital
|
97
|
88
|
||||||
Share premium
|
123,751
|
212,238
|
||||||
Foreign currency translation reserve
|
(3,097
|
)
|
89
|
|||||
Other reserves
|
337,847
|
386,167
|
||||||
Share-based payment reserve
|
81,411
|
54,357
|
||||||
Accumulated deficit
|
(261,253
|
)
|
(481,392
|
)
|
||||
Total equity
|
278,756
|
171,547
|
||||||
Non-current liabilities
|
||||||||
Non-current accruals
|
1,479
|
—
|
||||||
Interest-bearing loans and borrowings
|
39,500
|
37,226
|
||||||
Deferred revenue
|
4,331
|
6,408
|
||||||
Lease liabilities
|
28,248
|
25,355
|
||||||
Provisions
|
114
|
57
|
||||||
Total non-current liabilities
|
73,672
|
69,046
|
||||||
Current liabilities
|
||||||||
Trade and other payables
|
75,076
|
35,436
|
||||||
Deferred revenue
|
6,408
|
24,450
|
||||||
Lease liabilities
|
1,555
|
1,255
|
||||||
Provisions
|
51
|
39
|
||||||
Total current liabilities
|
83,090
|
61,180
|
||||||
Total liabilities
|
156,762
|
130,226
|
||||||
Total equity and liabilities
|
435,518
|
301,773
|