7Baggers

Wave Life Sciences Ltd
(NASDAQ:WVE) 

WVE stock logo

Wave Life Sciences Ltd., a clinical stage genetic medicine company, designs, optimizes, and produces of novel stereopure oligonucleotides through PRISM, a discovery and drug developing platform. The company is primarily developing oligonucleotides target ribonucleic acid to reduce the expression of ...

Founded: 2012
Full Time Employees: 301
Sector: Healthcare
Industry: Biotechnology
Pharmaceuticals
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At a glance:
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Income Statements:
Quarterly
Annual
    Unit: USD2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-06-30 2024-03-31 2023-12-31 2023-09-30 2023-06-30 2023-03-31 2022-12-31 2022-09-30 2022-06-30 2022-03-31 2021-12-31 2021-09-30 2021-06-30 2021-03-31 2020-12-31 2020-09-30 2020-06-30 2020-03-31 2019-12-31 2019-09-30 2019-06-30 2019-03-31 2018-12-31 2018-09-30 2018-06-30 2018-03-31 2017-12-31 2017-09-30 2017-06-30 2017-03-31 2016-12-31 2016-09-30 2016-06-30 2016-03-31 2015-12-31 2015-09-30 
                                             
      revenue
    		7,608,000 8,699,000 9,175,000 83,748,000 -7,676,000 19,692,000 12,538,000 29,056,000 49,214,000 22,106,000 12,929,000 1,239,000 285,000 375,000 1,750,000 1,765,000 36,423,000 2,776,000  9,439,000 3,450,000 3,027,000 4,161,000 2,400,000 2,929,000 7,628,000 3,026,000 3,620,000 4,493,000 4,879,000 1,422,000 1,676,000 676,000 676,000 676,000 676,000 392,000 417,000    
      yoy
    		-199.11% -55.82% -26.82% 188.23% -115.60% -10.92% -3.02% 2245.12% 17168.07% 5794.93% 638.80% -29.80% -99.22% -86.49% NaN% -81.30% 955.74% -8.29% NaN% 293.29% 17.79% -60.32% 37.51% -33.70% -34.81% 56.34% 112.80% 115.99% 564.64% 621.75% 110.36% 147.93% 72.45% 62.11% NaN%  NaN%     
      qoq
    		-12.54% -5.19% -89.04% -1191.04% -138.98% 57.06% -56.85% -40.96% 122.63% 70.98% 943.50% 334.74% -24.00% -78.57% -0.85% -95.15% 1212.07% NaN% NaN% 173.59% 13.97% -27.25% 73.37% -18.06% -61.60% 152.08% -16.41% -19.43% -7.91% 243.11% -15.16% 147.93% 0.00% 0.00% 0.00% 72.45% -6.00% NaN%    
      operating expenses:
    		                                         
      research and development
    		45,874,000 43,469,000 40,622,000 44,645,000 41,197,000 40,393,000 33,447,000 34,074,000 31,642,000 33,314,000 30,979,000 31,078,000 27,575,000 29,733,000 27,470,000 25,761,000 31,086,000 31,635,000 33,393,000 30,033,000 28,275,000 31,478,000 41,158,000 49,128,000 44,585,000 41,605,000 40,113,000 39,809,000 32,876,000 32,547,000 29,196,000 25,369,000 20,097,000 19,103,000 14,740,000 13,995,000 13,686,000 8,401,000 4,736,000 3,468,000 2,132,000 
      general and administrative
    		18,087,000 17,989,000 18,357,000 16,136,000 15,042,000 14,296,000 13,549,000 13,664,000 13,128,000 12,265,000 12,235,000 13,724,000 11,609,000 12,806,000 12,374,000 12,114,000 12,944,000 10,969,000 10,078,000 9,719,000 9,590,000 10,205,000 12,996,000 13,805,000 12,523,000 11,640,000 10,901,000 12,754,000 9,849,000 8,905,000 8,001,000 6,887,000 7,571,000 6,667,000 5,850,000 5,185,000 3,939,000 3,654,000 3,216,000 3,746,000 2,858,000 
      total operating expenses
    		63,961,000 61,458,000 58,979,000 60,781,000 56,239,000 54,689,000 46,996,000 47,738,000 44,770,000 45,579,000 43,214,000 44,802,000 39,184,000 42,539,000 39,844,000 37,875,000 44,030,000 42,604,000 43,471,000 39,752,000 37,865,000 41,683,000 54,154,000 62,933,000 57,108,000 53,245,000 51,014,000 52,563,000 42,725,000 41,452,000 37,197,000 32,256,000 27,668,000 25,770,000 20,590,000 19,180,000 17,625,000 12,055,000 7,952,000 7,214,000 4,990,000 
      income from operations
    		-56,353,000 -52,759,000 -49,804,000 22,967,000 -63,915,000 -34,997,000 -34,458,000 -18,682,000 4,444,000 -23,473,000 -30,285,000 -43,563,000 -38,899,000 -42,164,000 -38,094,000 -36,110,000 -7,607,000 -39,828,000 -43,471,000 -30,313,000 -34,415,000 -38,656,000 -49,993,000 -60,533,000 -54,179,000 -45,617,000 -47,988,000 -48,943,000 -38,232,000 -36,573,000 -35,775,000 -30,580,000 -26,992,000 -25,094,000 -19,914,000 -18,504,000 -17,233,000 -11,638,000 -7,952,000 -7,214,000 -4,990,000 
      yoy
    		-11.83% 50.75% 44.54% -222.94% -1538.23% 49.09% 13.78% -57.11% -111.42% -44.33% -20.50% 20.64% 411.36% 5.87% -12.37% 19.12% -77.90% 3.03% -13.05% -49.92% -36.48% -15.26% 4.18% 23.68% 41.71% 24.73% 34.14% 60.05% 41.64% 45.74% 79.65% 65.26% 56.63% 115.62% 150.43% 156.50% 245.35%     
      qoq
    		6.81% 5.93% -316.85% -135.93% 82.63% 1.56% 84.44% -520.39% -118.93% -22.49% -30.48% 11.99% -7.74% 10.68% 5.49% 374.69% -80.90% -8.38% 43.41% -11.92% -10.97% -22.68% -17.41% 11.73% 18.77% -4.94% -1.95% 28.02% 4.54% 2.23% 16.99% 13.29% 7.56% 26.01% 7.62% 7.38% 48.08% 46.35% 10.23% 44.57%  
      operating margin %
    		-740.71% -606.49% -542.82% 27.42% 832.66% -177.72% -274.83% -64.30% 9.03% -106.18% -234.24% -3515.98% -13648.77% -11243.73% -2176.80% -2045.89% -20.89% -1434.73% NaN% -321.15% -997.54% -1277.04% -1201.47% -2522.21% -1849.74% -598.02% -1585.86% -1352.02% -850.92% -749.60% -2515.82% -1824.58% -3992.90% -3712.13% -2945.86% -2737.28% -4396.17% -2790.89% NaN% -Infinity% NaN% 
      other income, net:
    		                                         
      interest income
    		2,177,000 2,372,000 2,875,000                  -17,000 -2,000 3,000 4,000 6,000 8,000 11,000 6,000 5,000 4,000 7,000 1,000 1,000 1,000 3,000 9,000 118,000 106,000 104,000 76,000 25,000 
      other income
    		324,000 -82,000 51,000 2,548,000 337,000 -18,000 365,000 582,000 171,000 118,000 1,007,000 -290,000 -701,000 744,000 254,000 1,116,000 1,371,000 1,054,000 996,000 659,000 1,292,000 -2,005,000 2,112,000 3,023,000 2,239,000 2,123,000 2,353,000 9,933,000 -468,000 -259,000 343,000 -120,000 -75,000 -64,000 -72,000 -25,000 -36,000 15,000 -4,000   
      total other income
    		2,501,000 2,290,000 2,926,000 6,286,000 2,135,000 2,074,000 2,900,000 2,426,000 2,131,000 2,369,000 2,880,000 535,000 -105,000 868,000 280,000 1,121,000 1,377,000 1,062,000 1,007,000 683,000 1,315,000 -1,872,000 2,500,000 3,763,000 3,453,000 3,675,000 3,788,000 496,500 601,000 679,000 706,000 172,000 441,000 419,000 221,000 239,000 82,000 121,000 100,000 -23,000 137,000 
      income before income taxes
    		-53,852,000 -50,469,000 -46,878,000 29,253,000 -61,780,000 -32,923,000 -31,558,000 -16,256,000 6,575,000 -21,104,000 -27,405,000 -43,028,000 -39,004,000 -41,296,000 -37,814,000 -34,989,000 -6,230,000 -38,766,000 -42,464,000 -29,630,000 -33,100,000 -40,528,000 -47,493,000 -56,770,000 -50,726,000 -41,942,000 -44,200,000 -37,990,000 -37,631,000 -35,894,000 -35,069,000 -30,408,000 -26,551,000         
      income tax benefit
    		        677,000                   103,000    -226,250 416,000  -1,303,000    5,000   
      net income
    		-53,852,000 -50,469,000 -46,878,000 29,253,000 -61,780,000 -32,923,000 -31,558,000 -16,256,000 7,252,000 -21,104,000 -27,405,000 -43,709,000 -39,004,000 -41,296,000 -37,814,000 -34,785,000 -6,230,000 -38,766,000 -42,464,000 -28,789,000 -33,100,000 -40,528,000 -47,493,000 -56,770,000 -50,726,000 -41,942,000 -44,200,000 -37,887,000 -37,631,000 -35,894,000 -35,241,000 -30,211,000 -26,135,000 -24,693,000 -20,996,000 -18,454,000 -17,535,000 -11,565,000 -7,847,000 -7,099,000 -4,936,000 
      yoy
    		-12.83% 53.29% 48.55% -279.95% -951.90% 56.00% 15.15% -62.81% -118.59% -48.90% -27.53% 25.65% 526.07% 6.53% -10.95% 20.83% -81.18% -4.35% -10.59% -49.29% -34.75% -3.37% 7.45% 49.84% 34.80% 16.85% 25.42% 25.41% 43.99% 45.36% 67.85% 63.71% 49.04% 113.51% 167.57% 159.95% 255.25%     
      qoq
    		6.70% 7.66% -260.25% -147.35% 87.65% 4.33% 94.13% -324.16% -134.36% -22.99% -37.30% 12.06% -5.55% 9.21% 8.71% 458.35% -83.93% -8.71% 47.50% -13.02% -18.33% -14.67% -16.34% 11.91% 20.94% -5.11% 16.66% 0.68% 4.84% 1.85% 16.65% 15.60% 5.84% 17.61% 13.77% 5.24% 51.62% 47.38% 10.54% 43.82%  
      net income margin %
    		-707.83% -580.17% -510.93% 34.93% 804.85% -167.19% -251.70% -55.95% 14.74% -95.47% -211.97% -3527.76% -13685.61% -11012.27% -2160.80% -1970.82% -17.10% -1396.47% NaN% -305.00% -959.42% -1338.88% -1141.38% -2365.42% -1731.85% -549.84% -1460.67% -1046.60% -837.55% -735.68% -2478.27% -1802.57% -3866.12% -3652.81% -3105.92% -2729.88% -4473.21% -2773.38% NaN% -Infinity% NaN% 
      net income per share
    		-0.32 -0.31 -0.29 0.27 -0.47 -0.25 -0.24 -0.15 0.07 -0.2 -0.27 -0.45 -0.42 -0.62 -0.62 -0.61 -0.12 -0.78 -0.86 -0.46 -0.86 -1.15 -1.38 -1.66 -1.48 -1.22 -1.36 -1.28 -1.28 -1.23 -1.26 -1.1 -0.94 -0.92 -0.89 -0.79 -0.75 -0.51 -0.36 -0.47 -0.54 
      weighted-average ordinary shares used in computing net loss per share attributable to ordinary shareholders—basic and diluted
    		167,739,208 163,987,640 162,527,026 138,277,468  129,527,003 129,271,678 106,097,268  105,462,414 102,056,712 78,855,810 93,900,484 66,479,293 60,516,616 51,825,566 50,709,877 49,973,185 49,101,606 39,227,618 38,364,224 35,212,291 34,461,505 33,866,487 34,281,203 34,260,298 32,597,158 28,970,404 29,333,994 29,144,466 27,919,063 26,513,382 27,758,792 26,899,058 23,531,788 22,800,628 23,445,673 22,708,022 21,551,423 10,501,455 9,223,405 
      other comprehensive income:
    		                                         
      foreign currency translation
    		-29 43 58 -103 120 -81 -74 58 -32 -100 -21 94 -76 -142 -86 -77 -11  -120 88 23 5 6 -15 2 30 97 -28 -20 36 49           
      comprehensive loss
    		-53,881 -50,426 -46,820   -33,004 -31,632   -21,204 -27,426 -43,615 -39,080 -41,438 -37,900 -34,862 -6,241 -38,766 -42,584 -28,701 -33,077 -40,523 -47,487 -56,785 -50,724 -41,912 -44,103 -37,915 -37,651 -35,858 -35,192           
      other comprehensive loss:
    		                                         
      dividend income and interest income
    		   3,738,000 1,798,000 2,092,000 2,535,000 1,844,000 1,960,000 2,251,000 1,873,000 825,000 596,000 124,000 26,000 5,000 6,000 8,000 11,000                       
      less: net income attributable to participating securities
    		        -257,000                                 
      net income attributable to ordinary shareholders, basic and diluted
    		   -31,565,250 -61,780,000   -10,314,250 6,995,000                                 
      weighted-average ordinary shares used in computing net income per share attributable to ordinary shareholders—basic
    		    132,563,467    106,025,063                                 
      weighted-average ordinary shares used in computing net income per share attributable to ordinary shareholders—diluted
    		    132,563,467    106,975,231                                 
      comprehensive income
    		   -31,574 -61,660   -10,352.5 7,220                                 
      income tax provision
    		                              -172,000   -18,000  -189,000 -384,000 -48,000  -45,500 -83,000 
      dividend income
    		                   24,000 40,000 135,000 385,000 736,000 1,208,000 1,544,000 1,424,000 1,014,000 1,064,000 934,000 356,000 291,000 515,000 482,000 290,000       
      other income:
    		                                         
      loss before income tax provision
    		                                 -24,675,000  -18,265,000 -17,151,000 -11,517,000 -7,852,000 -2,979,750 -4,853,000 
      loss before income tax benefit
    		                                  -19,693,000       
      other
    		                                       -99,000 112,000 
    Balance Sheets:
    Quarterly
    Annual
      Unit: USD2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-06-30 2024-03-31 2023-12-31 2023-09-30 2023-06-30 2023-03-31 2022-12-31 2022-09-30 2022-06-30 2022-03-31 2021-12-31 2021-09-30 2021-06-30 2021-03-31 2020-12-31 2020-09-30 2020-06-30 2020-03-31 2019-12-31 2019-09-30 2019-06-30 2019-03-31 2018-12-31 2018-09-30 2018-06-30 2018-03-31 2017-12-31 2017-09-30 2017-06-30 2017-03-31 2016-12-31 2016-09-30 2016-06-30 2016-03-31 2015-12-31 2015-09-30 
                                               
        assets
      		                                         
        current assets:
      		                                         
        cash and cash equivalents
      		196,218,000 208,481,000 243,075,000 302,078,000 310,948,000 153,958,000 180,922,000 200,351,000 139,942,000 172,974,000 207,562,000 88,497,000 96,954,000 123,163,000 61,713,000 150,564,000 123,896,000 143,840,000 148,535,000 184,497,000 216,363,000 94,054,000 120,949,000 147,161,000 209,009,000 252,906,000 287,567,000 174,819,000 210,489,000 241,431,000 110,491,000 142,503,000 168,464,000 197,394,000 129,484,000 150,293,000 169,015,000     
        accounts receivable
      		10,000,000 1,617,000  1,422,000  1,290,000  21,086,000 7,000,000        22,500,000                    2,500,000     
        prepaid expenses
      		6,653,000 6,700,000 8,062,000 9,544,000 10,572,000 12,147,000 11,139,000 9,912,000 7,514,000 9,012,000 9,231,000 7,932,000 7,419,000 5,396,000 6,940,000 6,584,000 7,627,000 9,188,000 10,430,000 10,434,000 7,966,000 6,452,000 9,999,000 9,626,000                  
        other current assets
      		2,617,000 6,758,000 6,839,000 7,350,000 2,995,000 4,680,000 4,706,000 4,024,000 4,116,000 2,722,000 2,798,000 2,108,000 2,017,000 6,555,000 5,730,000 5,416,000 3,964,000 6,403,000 5,580,000 5,111,000 4,101,000 16,328,000 18,843,000 8,689,000                  
        total current assets
      		215,488,000 223,556,000 257,976,000 320,394,000 324,515,000 172,075,000 196,767,000 235,373,000 158,572,000 184,708,000 219,591,000 98,537,000 131,434,000 160,114,000 124,383,000 162,564,000 157,987,000 159,431,000 194,545,000 230,042,000 258,430,000 146,834,000 149,791,000 185,476,000 250,258,000 289,591,000 315,031,000 202,273,000 233,161,000 267,674,000 117,961,000 150,488,000 173,834,000 201,224,000 132,780,000 151,990,000 172,140,000 183,941,000 154,000,000 161,384,000 67,987,000 
        long-term assets:
      		                                         
        property and equipment
      		8,196,000 9,037,000 9,566,000 10,128,000 10,928,000 11,783,000 12,418,000 13,084,000 13,770,000 14,983,000 16,005,000 17,284,000 18,552,000 19,808,000 21,046,000 22,266,000 24,020,000 25,842,000 27,370,000 29,198,000 31,116,000 33,096,000 34,986,000 36,368,000 37,204,000 38,363,000 39,929,000 39,931,000 37,722,000 32,384,000 28,778,000 27,334,000 24,584,000 20,775,000 14,296,000 8,607,000 6,693,000 5,093,000 3,218,000 2,789,000 1,954,000 
        operating lease right-of-use assets
      		13,876,000 15,250,000 16,581,000 17,870,000 19,119,000 20,329,000 21,502,000 22,637,000 23,738,000 24,805,000 25,838,000 26,843,000 27,827,000 28,791,000 17,594,000 18,378,000 14,639,000 15,189,000 15,720,000 16,232,000 16,725,000 17,201,000 17,659,000 18,101,000 18,527,000 18,937,000 19,333,000               
        restricted cash
      		3,796,000 3,784,000 3,772,000 3,760,000 3,746,000 3,731,000 3,715,000 3,699,000 3,683,000 3,668,000 4,660,000 3,660,000 3,654,000 3,651,000 3,651,000 3,651,000 3,651,000 3,651,000 3,651,000 3,651,000 3,650,000 3,650,000 3,649,000 3,647,000 3,643,000 3,637,000 3,631,000 3,625,000 3,620,000 3,616,000 3,612,000 3,610,000 3,608,000 3,606,000 3,604,000 3,601,000 1,055,000 1,055,000 1,055,000 1,055,000 1,055,000 
        other assets
      		22,000 728,000 448,000 55,000 196,000 900,000 868,000 156,000 155,000 1,821,000 1,176,000 62,000 44,000 955,000 685,000 148,000 215,000 2,298,000 1,361,000 115,000 140,000 3,170,000 2,487,000 10,658,000 7,580,000 5,019,000 2,688,000 111,000 74,000 69,000 70,000 411,000 60,000 53,000 53,000 53,000 53,000 57,000 57,000 4,000  
        total long-term assets
      		25,890,000 28,799,000 30,367,000 31,813,000 33,989,000 36,743,000 38,503,000 39,576,000 41,346,000 45,277,000 47,679,000 47,849,000 50,077,000 53,205,000 42,976,000 44,443,000 42,525,000 46,980,000 48,102,000 49,196,000 51,631,000 57,117,000 88,781,000 98,774,000 96,954,000 95,956,000 115,581,000 93,667,000 91,416,000 86,069,000 32,460,000 31,355,000          
        total assets
      		241,378,000 252,355,000 288,343,000 352,207,000 358,504,000 208,818,000 235,270,000 274,949,000 199,918,000 229,985,000 267,270,000 146,386,000 181,511,000 213,319,000 167,359,000 207,007,000 200,512,000 206,411,000 242,647,000 279,238,000 310,061,000 203,951,000 238,572,000 284,250,000 347,212,000 385,547,000 430,612,000 295,940,000 324,577,000 353,743,000 150,421,000 181,843,000 202,086,000 226,432,000 151,507,000 164,811,000 179,973,000 190,338,000 158,522,000 165,424,000 70,996,000 
        liabilities, series a preferred shares, and shareholders’ equity
      		                                         
        current liabilities:
      		                                         
        accounts payable
      		14,490,000 14,664,000 14,358,000 16,262,000 12,781,000 18,149,000 11,730,000 12,839,000 12,608,000 12,379,000 11,906,000 16,915,000 15,934,000 11,168,000 9,853,000 7,281,000 7,443,000 8,655,000 13,418,000 13,795,000 9,699,000 13,910,000 16,486,000 9,073,000 20,219,000 11,464,000 14,577,000 13,089,000 11,961,000 7,151,000 8,014,000 7,598,000 4,705,000 7,983,000 7,397,000 4,943,000 3,825,000 3,899,000 2,437,000 2,811,000 2,875,000 
        accrued expenses and other current liabilities
      		16,487,000 13,026,000 7,813,000 21,081,000 14,642,000 10,677,000 6,621,000 16,828,000 12,624,000 10,429,000 7,622,000 17,552,000 11,056,000 11,085,000 7,087,000 14,861,000 11,364,000 9,923,000 6,661,000 11,971,000 10,182,000 8,220,000 10,994,000 16,185,000 13,738,000 11,632,000 8,490,000 14,736,000 9,518,000 8,494,000 6,461,000 8,898,000 6,953,000 4,589,000 3,789,000 4,445,000 4,833,000 2,161,000 1,271,000 945,000 537,000 
        current portion of deferred revenue
      		46,525,000 51,582,000 57,312,000 65,972,000 135,907,000 137,138,000 140,586,000 150,059,000 68,251,000 111,133,000 106,960,000 31,558,000 32,341,000 37,466,000 36,426,000 37,098,000 8,736,000 24,177,000 24,763,000 91,560,000 86,192,000 84,849,000 88,044,000 89,652,000 96,322,000 97,964,000 105,891,000 100,945,000 103,229,000 27,294,000 1,275,000 2,705,000 2,705,000 2,705,000 2,705,000 2,705,000 2,705,000 2,500,000    
        current portion of operating lease liability
      		8,394,000 8,136,000 7,884,000 7,638,000 7,398,000 7,164,000 6,936,000 6,714,000 6,497,000 6,285,000 6,078,000 5,496,000 4,928,000 4,363,000 5,120,000 4,961,000 4,097,000 3,966,000 3,838,000 3,714,000 3,591,000 3,473,000 3,357,000 3,243,000 3,132,000 3,024,000 2,919,000               
        total current liabilities
      		85,896,000 87,408,000 87,367,000 110,953,000 170,728,000 173,128,000 165,873,000 186,440,000 99,980,000 140,226,000 132,566,000 71,521,000 64,259,000 64,082,000 58,486,000 64,201,000 31,640,000 46,721,000 48,680,000 121,040,000 109,664,000 110,452,000 118,881,000 118,153,000 133,411,000 124,084,000 131,877,000 130,041,000 125,795,000 43,781,000 16,298,000 19,621,000 15,122,000 15,555,000 14,070,000 12,155,000 11,425,000 8,647,000 3,770,000 3,818,000 3,474,000 
        long-term liabilities:
      		                                         
        deferred revenue, net of current portion
      		11,681,000 4,232,000 5,584,000 6,099,000 18,490,000 9,582,000 12,536,000 15,601,000 105,380,000 104,540,000 130,820,000 79,774,000 80,230,000 75,256,000 76,567,000 77,479,000 107,606,000 106,088,000 108,278,000 41,481,000 56,288,000 61,081,000 60,913,000 63,466,000 59,196,000 60,483,000 60,184,000 68,156,000 69,494,000 149,921,000 5,819,000 5,607,000 6,283,000 6,959,000 7,635,000 8,311,000 8,987,000 7,083,000    
        operating lease liability, net of current portion
      		11,378,000 13,575,000 15,715,000 17,766,000 19,772,000 21,711,000 23,598,000 25,404,000 27,170,000 28,875,000 30,534,000 32,118,000 33,667,000 35,160,000 23,617,000 24,955,000 22,477,000 23,547,000 24,587,000 25,591,000 26,574,000 27,513,000 28,425,000 29,304,000 30,165,000 30,985,000 31,782,000               
        total long-term liabilities
      		23,059,000 17,807,000 21,299,000 23,865,000 38,262,000 31,293,000 36,134,000 41,005,000 132,550,000 133,605,000 161,544,000 112,082,000 113,897,000 110,416,000 101,052,000 102,434,000 131,097,000 129,974,000 133,272,000 67,546,000 84,282,000 90,114,000 90,959,000 94,491,000 91,154,000 93,365,000 94,005,000 84,677,000 84,302,000 162,792,000 16,200,000 14,534,000 13,234,000 14,091,000 12,476,000 9,919,000 9,540,000 7,539,000 357,000 241,000 125,000 
        total liabilities
      		108,955,000 105,215,000 108,666,000 134,818,000 208,990,000 204,421,000 202,007,000 227,445,000 232,530,000 273,831,000 294,110,000 183,603,000 178,156,000 174,498,000 159,538,000 166,635,000 162,737,000 176,695,000 181,952,000 188,586,000 193,946,000 200,566,000 209,840,000 212,644,000 224,565,000 217,449,000 225,882,000 214,718,000 210,097,000 206,573,000 32,498,000 34,155,000 28,356,000 29,646,000 26,546,000 22,074,000 20,965,000 16,186,000 4,127,000 4,059,000 3,599,000 
        series a preferred shares, no par value; 3,901,348 shares issued and outstanding at september 30, 2025 and december 31, 2024
      		7,874,000                                         
        shareholders’ equity:
      		                                         
        ordinary shares, no par value; 160,288,481 and 153,037,286 shares issued and outstanding at september 30, 2025 and december 31, 2024, respectively
      		1,223,721,000                                         
        additional paid-in capital
      		174,075,000 167,603,000 161,407,000 156,454,000 153,196,000 135,603,000 132,118,000 129,237,000 126,885,000 124,601,000 122,192,000 119,442,000 116,535,000 113,169,000 91,951,000 87,980,000 84,254,000 78,358,000 75,636,000 71,573,000 68,354,000 65,070,000 61,276,000 57,277,000 52,290,000 47,270,000 42,113,000 37,768,000 33,757,000 30,147,000 26,602,000 22,172,000 18,995,000 15,996,000 13,028,000 10,029,000 7,568,000 5,318,000 4,048,000 3,182,000 2,368,000 
        accumulated other comprehensive loss
      		-190,000 -161,000 -204,000 -262,000 -159,000 -279,000 -198,000 -124,000 -182,000 -150,000                       -272,000 -273,000 -276,000       
        accumulated deficit
      		-1,273,057,000 -1,219,205,000 -1,168,736,000 -1,121,858,000 -1,151,111,000 -1,089,331,000 -1,056,408,000 -1,024,850,000 -1,008,594,000 -1,015,846,000 -994,742,000 -967,337,000 -923,628,000 -884,624,000 -843,328,000 -805,514,000 -770,729,000 -764,499,000 -725,733,000 -683,269,000 -654,480,000 -621,380,000 -580,852,000 -533,359,000 -476,589,000 -425,863,000 -383,921,000 -339,721,000 -301,834,000 -264,203,000 -228,309,000 -192,512,000 -162,301,000 -136,166,000 -111,473,000 -90,477,000 -72,023,000 -54,488,000 -42,923,000 -35,076,000 -27,977,000 
        total shareholders’ equity
      		124,549,000 139,266,000 171,803,000 209,515,000 141,640,000 -3,477,000 25,389,000 39,630,000   -34,714,000 -45,091,000 -4,519,000 30,947,000 -53,000 32,498,000 29,901,000 21,842,000 52,821,000 82,778,000 108,241,000 -4,489,000 20,858,000 63,732,000 114,773,000 160,224,000 196,856,000 73,348,000 106,606,000 139,296,000 110,049,000 139,814,000 165,856,000 188,912,000 117,087,000 134,863,000 151,134,000 166,278,000 146,521,000 153,491,000  
        total liabilities, series a preferred shares, and shareholders’ equity
      		241,378,000 252,355,000 288,343,000  358,504,000 208,818,000 235,270,000                                 165,424,000  
        series a preferred shares, no par value; 3,901,348 shares issued and outstanding at june 30, 2025 and december 31, 2024
      		 7,874,000                                        
        ordinary shares, no par value; 155,673,292 and 153,037,286 shares issued and outstanding at june 30, 2025 and december 31, 2024, respectively
      		 1,191,029,000                                        
        series a preferred shares, no par value; 3,901,348 shares issued and outstanding at march 31, 2025 and december 31, 2024
      		  7,874,000                                       
        ordinary shares, no par value; 154,093,313 and 153,037,286 shares issued and outstanding at march 31, 2025 and december 31, 2024, respectively
      		  1,179,336,000                                       
        liabilities, series a preferred shares and shareholders’ equity
      		                                         
        series a preferred shares, no par value; 3,901,348 shares issued and outstanding at december 31, 2024 and 2023
      		   7,874,000                                      
        ordinary shares, no par value; 153,037,286 and 119,162,234 shares issued and outstanding at december 31, 2024 and 2023, respectively
      		   1,175,181,000                                      
        total liabilities, series a preferred shares and shareholders’ equity
      		   352,207,000    274,949,000   267,270,000 146,386,000 181,511,000 213,319,000 167,359,000 207,007,000 200,512,000 206,411,000 242,647,000 279,238,000 310,061,000 203,951,000 238,572,000 284,250,000 347,212,000 385,547,000 430,612,000 295,940,000 324,577,000 353,743,000 150,421,000 181,843,000 202,086,000 226,432,000 151,507,000 164,811,000 179,973,000 190,338,000 158,522,000   
        series a preferred shares, no par value; 3,901,348 shares issued and outstanding at september 30, 2024 and december 31, 2023
      		    7,874,000                                     
        ordinary shares, no par value; 148,392,939 and 119,162,234 shares issued and outstanding at september 30, 2024 and december 31, 2023, respectively
      		    1,139,714,000                                     
        series a preferred shares, no par value; 3,901,348 shares issued and outstanding at june 30, 2024 and december 31, 2023
      		     7,874,000                                    
        shareholders’ equity
      		                                         
        ordinary shares, no par value; 122,479,289 and 119,162,234 shares issued and outstanding at june 30, 2024 and december 31, 2023, respectively
      		     950,530,000                                    
        series a preferred shares, no par value; 3,901,348 shares issued and outstanding at march 31, 2024 and december 31, 2023
      		      7,874,000                                   
        ordinary shares, no par value; 122,321,384 and 119,162,234 shares issued and outstanding at march 31, 2024 and december 31, 2023, respectively
      		      949,877,000                                   
        other liabilities
      		         190,000 190,000 190,000   868,000  1,014,000 339,000 407,000 474,000 1,420,000 1,520,000 1,621,000 1,721,000 1,793,000 1,897,000 2,039,000 2,142,000 1,495,000 1,533,000 1,605,000 1,619,000 1,021,000 2,071,000 2,055,000 1,592,000 522,000 409,000 295,000 163,000 31,000 
        series a preferred shares, no par value; 3,901,348 shares issued and outstanding at december 31, 2023 and 2022
      		       7,874,000                                  
        ordinary shares, no par value; 119,162,234 and 86,924,643 shares issued and outstanding at december 31, 2023 and 2022, respectively
      		       935,367,000                                  
        series a preferred shares, no par value; 3,901,348 shares issued and outstanding at september 30, 2023 and december 31, 2022
      		        7,874,000                                 
        ordinary shares, no par value; 99,011,901 and 86,924,643 shares issued and outstanding at september 30, 2023 and december 31, 2022, respectively
      		        841,405,000                                 
        total shareholders’ deficit
      		        -40,486,000 -51,720,000                                
        total liabilities, series a preferred shares and shareholders’ deficit
      		        199,918,000 229,985,000                                
        series a preferred shares, no par value; 3,901,348 shares issued and outstanding at june 30, 2023 and december 31, 2022
      		         7,874,000                                
        ordinary shares, no par value; 98,566,816 and 86,924,643 shares issued and outstanding at june 30, 2023 and december 31, 2022, respectively
      		         839,675,000                                
        series a preferred shares, no par value; 3,901,348 shares issued and outstanding at march 31, 2023 and december 31, 2022
      		          7,874,000                               
        ordinary shares, no par value; 98,104,844 and 86,924,643 shares issued and outstanding at march 31, 2023 and december 31, 2022, respectively
      		          837,886,000                               
        accumulated other comprehensive income
      		          -50,000 -29,000 -123,000 -47,000 95,000 181,000 258,000 269,000 269,000 389,000 301,000 278,000 273,000 267,000 282,000 280,000 250,000 153,000 181,000 201,000 165,000 116,000    -291,000 84,000 76,000 52,000 41,000 43,000 
        series a preferred shares, no par value; 3,901,348 shares issued and outstanding at december 31, 2022 and 2021
      		           7,874,000                              
        ordinary shares, no par value; 86,924,643 and 59,841,116 shares issued and outstanding at december 31, 2022 and 2021, respectively
      		           802,833,000                              
        short-term investments
      		            25,044,000 25,000,000 50,000,000                           
        series a preferred shares, no par value; 3,901,348 shares issued and outstanding at september 30, 2022 and december 31, 2021
      		            7,874,000                             
        ordinary shares, no par value; 86,841,523 and 59,841,116 shares issued and outstanding at september 30, 2022 and december 31, 2021, respectively
      		            802,697,000                             
        series a preferred shares, no par value; 3,901,348 shares issued and outstanding at june 30, 2022 and december 31, 2021
      		             7,874,000                            
        ordinary shares, no par value; 86,724,658 and 59,841,116 shares issued and outstanding at june 30, 2022 and december 31, 2021, respectively
      		             802,449,000                            
        series a preferred shares, no par value; 3,901,348 shares issued and outstanding at march 31, 2022 and december 31, 2021
      		              7,874,000                           
        ordinary shares, no par value; 60,859,968 and 59,841,116 shares issued and outstanding at march 31, 2022 and december 31, 2021, respectively
      		              751,229,000                           
        current portion of accounts receivable
      		                  30,000,000 30,000,000 30,000,000 30,000,000  20,000,000 20,000,000 20,000,000 10,000,000 10,000,000 10,000,000 15,000,000            
        series a preferred shares, no par value; 3,901,348 shares issued and outstanding at december 31, 2021 and 2020
      		               7,874,000                          
        ordinary shares, no par value; 59,841,116 and 48,778,678 shares issued and outstanding at december 31, 2021 and 2020, respectively
      		               749,851,000                          
        series a preferred shares, no par value; 3,901,348 shares issued and outstanding at september 30, 2021 and december 31, 2020
      		                7,874,000                         
        ordinary shares, no par value; 51,998,032 and 48,778,678 shares issued and outstanding at september 30, 2021 and december 31, 2020, respectively
      		                716,118,000                         
        series a preferred shares, no par value; 3,901,348 shares issued and outstanding at june 30, 2021 and december 31, 2020
      		                 7,874,000                        
        ordinary shares, no par value; 50,576,466 and 48,778,678 shares issued and outstanding at june 30, 2021 and december 31, 2020, respectively
      		                 707,714,000                        
        series a preferred shares, no par value; 3,901,348 shares issued and outstanding at march 31, 2021 and december 31, 2020
      		                  7,874,000                       
        ordinary shares, no par value; 49,854,651 and 48,778,678 shares issued and outstanding at march 31, 2021 and december 31, 2020, respectively
      		                  702,649,000                       
        accounts receivable, net of current portion
      		                      30,000,000 30,000,000 30,000,000 30,000,000 50,000,000 50,000,000 50,000,000 50,000,000            
        series a preferred shares, no par value; 3,901,348 shares issued and outstanding at december 31, 2020 and 2019
      		                   7,874,000                      
        ordinary shares, no par value; 48,778,678 and 34,340,690 shares issued and outstanding at december 31, 2020 and 2019, respectively
      		                   694,085,000                      
        series a preferred shares, no par value; 3,901,348 shares issued and outstanding at september 30, 2020 and december 31, 2019
      		                    7,874,000                     
        ordinary shares, no par value; 48,769,049 and 34,340,690 shares issued and outstanding at september 30, 2020 and december 31, 2019, respectively
      		                    694,066,000                     
        series a preferred shares, no par value; 3,901,348 shares issued and outstanding at june 30, 2020 and december 31, 2019
      		                     7,874,000                    
        ordinary shares, no par value; 35,732,154 and 34,340,690 shares issued and outstanding at june 30, 2020 and december 31, 2019, respectively
      		                     551,543,000                    
        series a preferred shares, no par value; 3,901,348 shares issued and outstanding at march 31, 2020 and december 31, 2019
      		                      7,874,000                   
        ordinary shares, no par value; 34,601,582 and 34,340,690 shares issued and outstanding at march 31, 2020 and december 31, 2019, respectively
      		                      540,161,000                   
        current portion of deferred rent
      		                           115,000 90,000 80,000 70,000 60,000 50,000         
        current portion of lease incentive obligation
      		                           1,156,000 997,000 762,000 478,000 344,000 678,000 231,000 117,000       
        deferred rent, net of current portion
      		                           5,132,000 5,084,000 4,864,000 4,591,000 4,214,000 3,837,000         
        lease incentive obligation, net of current portion
      		                           9,247,000 8,229,000 6,474,000 4,185,000 3,094,000 2,093,000 2,197,000 1,075,000       
        series a preferred shares, no par value; 3,901,348 shares issued and outstanding at december 31, 2019 and 2018
      		                       7,874,000                  
        ordinary shares, no par value; 34,340,690 and 29,472,197 shares issued and outstanding at december 31, 2019 and 2018, respectively
      		                       539,547,000                  
        prepaid expenses and other current assets
      		                        21,249,000 16,685,000 17,464,000 17,454,000 12,672,000 11,243,000 7,470,000 7,985,000 5,370,000 3,830,000 3,296,000 1,483,000 625,000 2,176,000 580,000 146,000 147,000 
        series a preferred shares, no par value; 3,901,348 shares issued and outstanding at september 30, 2019 and december 31, 2018
      		                        7,874,000                 
        ordinary shares, no par value; 34,284,217 and 29,472,197 shares issued and outstanding at september 30, 2019 and december 31, 2018, respectively
      		                        538,790,000                 
        series a preferred shares, no par value; 3,901,348 shares issued and outstanding at june 30, 2019 and december 31, 2018
      		                         7,874,000                
        ordinary shares, no par value; 34,266,260 and 29,472,197 shares issued and outstanding at june 30, 2019 and december 31, 2018, respectively
      		                         538,537,000                
        series a preferred shares, no par value; 3,901,348 shares issued and outstanding at march 31, 2019 and december 31, 2018
      		                          7,874,000               
        ordinary shares, no par value; 34,255,406 and 29,472,197 shares issued and outstanding at march 31, 2019 and december 31, 2018, respectively
      		                          538,414,000               
        current portion of capital lease obligation
      		                               16,000 31,000 47,000 62,000 62,000 62,000 62,000 62,000 62,000 62,000 
        series a preferred shares, no par value; 3,901,348 shares issued and outstanding at december 31, 2018 and 2017
      		                           7,874,000              
        ordinary shares, no par value; 29,472,197 and 27,829,079 shares issued and outstanding at december 31, 2018 and 2017, respectively
      		                           375,148,000              
        series a preferred shares, no par value; 3,901,348 shares issued and outstanding at september 30, 2018 and december 31, 2017
      		                            7,874,000             
        ordinary shares, no par value; 29,426,176 and 27,829,079 shares issued and outstanding at september 30, 2018 and december 31, 2017, respectively
      		                            374,502,000             
        series a preferred shares, no par value; 3,901,348 shares issued and outstanding at june 30, 2018 and december 31, 2017
      		                             7,874,000            
        ordinary shares, no par value; 29,293,350 and 27,829,079 shares issued and outstanding at june 30, 2018 and december 31, 2017, respectively
      		                             373,151,000            
        series a preferred shares, no par value; 3,901,348 shares issued and outstanding at march 31, 2018 and december 31, 2017
      		                              7,874,000           
        ordinary shares, no par value; 27,993,337 and 27,829,079 shares issued and outstanding at march 31, 2018 and december 31, 2017, respectively
      		                              311,591,000           
        deferred tax assets
      		                                   214,000   23,000 18,000 64,000 
        capital lease obligation, net of current portion
      		                                   16,000 31,000 47,000 62,000 78,000 94,000 
        series a preferred shares, no par value; 3,901,348 shares issued and outstanding
      		                               7,874,000    7,874,000 7,874,000 7,874,000 7,874,000   
        ordinary shares, no par value; 27,829,079 and 23,502,169 shares issued and outstanding at december 31, 2017 and 2016, respectively
      		                               310,038,000          
        series a preferred shares, no par value; 3,901,348 shares issued and outstanding at september 30, 2017 and december 31, 2016
      		                                7,874,000         
        ordinary shares, no par value; 27,767,905 and 23,502,169 shares issued and outstanding at september 30, 2017 and december 31, 2016, respectively
      		                                309,434,000         
        deferred rent
      		                                 2,864,000 1,711,000       
        series a preferred shares, no par value; 3,901,348 shares issued and outstanding at june 30, 2017 and december 31, 2016
      		                                 7,874,000        
        ordinary shares, no par value; 27,731,412 and 23,502,169 shares issued and outstanding at june 30, 2017 and december 31, 2016, respectively
      		                                 309,355,000        
        series a preferred shares, no par value; 3,901,348 shares issued and outstanding at march 31, 2017 and december 31, 2016
      		                                  7,874,000       
        ordinary shares, no par value; 23,551,069 and 23,502,169 shares issued and outstanding at march 31, 2017 and december 31, 2016, respectively
      		                                  215,808,000       
        ordinary shares, no par value; 23,502,169 and 21,551,423 shares issued and outstanding at december 31, 2016 and 2015, respectively
      		                                   215,602,000      
        deferred tax liabilities
      		                                     25,000    
        ordinary shares, no par value; 23,474,369 and 21,551,423 shares issued and outstanding at september 30, 2016 and december 31, 2015, respectively
      		                                    215,505,000     
        cash
      		                                     181,765,000 153,397,000 161,220,000 66,040,000 
        ordinary shares, no par value; 23,432,923 and 21,551,423 shares issued and outstanding at june 30, 2016 and december 31, 2015, respectively
      		                                     215,372,000    
        ordinary shares, no par value; 21,551,423 shares issued and outstanding
      		                                      185,344,000   
        deferred offering costs
      		                                        1,736,000 
        deferred revenue
      		                                         
        series a preferred shares, no par value; 3,901,348 shares issued and outstanding at december 31, 2015
      		                                       7,874,000  
        series a preferred shares, no par value; 3,901,348 shares issued and outstanding at december 31, 2014
      		                                         
        ordinary shares, no par value; 21,551,423 and 4,263,472 shares issued and outstanding at december 31, 2015 and 2014, respectively
      		                                       185,344,000  
        liabilities, series a and b preferred shares and shareholders’ (deficit) equity
      		                                         
        series a preferred shares, no par value; 3,901,348 shares issued and outstanding at september 30, 2015
      		                                        7,874,000 
        series b preferred shares, no par value, 5,334,892 and no shares issued and outstanding at september 30, 2015 and december 31, 2014, respectively
      		                                        62,643,000 
        shareholders’ (deficit) equity:
      		                                         
        ordinary shares, no par value; 9,223,405 and 4,263,472 shares issued and outstanding at september 30, 2015 and december 31, 2014, respectively
      		                                        22,446,000 
        total shareholders’ (deficit) equity
      		                                        -3,120,000 
        total liabilities, series a and b preferred shares, and shareholders’ (deficit) equity
      		                                        70,996,000 
        revenue
      		                                         
        operating expenses:
      		                                         
        research and development
      		                                        2,132,000 
        general and administrative
      		                                        2,858,000 
        total operating expenses
      		                                        4,990,000 
        income from operations
      		                                        -4,990,000 
        other income:
      		                                         
        interest income
      		                                        25,000 
        other
      		                                        112,000 
        total other income
      		                                        137,000 
        income before income tax provision
      		                                        -4,853,000 
        income tax provision
      		                                        -83,000 
        net income
      		                                        -4,936,000 
        net income per share
      		                                        -540 
        weighted-average ordinary shares used in computing net income per share attributable to ordinary shareholders—basic and diluted
      		                                        9,223,405,000 
      Cashflow Statements:
      Quarterly
      Annual
        Unit: USD2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-06-30 2024-03-31 2023-12-31 2023-09-30 2023-06-30 2023-03-31 2022-12-31 2022-09-30 2022-06-30 2022-03-31 2021-12-31 2021-09-30 2021-06-30 2021-03-31 2020-12-31 2020-09-30 2020-06-30 2020-03-31 2019-12-31 2019-09-30 2019-06-30 2019-03-31 2018-12-31 2018-09-30 2018-06-30 2018-03-31 2017-12-31 2017-09-30 2017-06-30 2017-03-31 2016-12-31 2016-09-30 2016-06-30 2016-03-31 2015-12-31 
                                                
          cash flows from operating activities
        		                                        
          net loss
        		-53,852,000 -50,469,000 -46,878,000 29,253,000 -61,780,000 -32,923,000 -31,558,000 -16,256,000 7,252,000 -21,104,000 -27,405,000 -43,709,000 -39,004,000 -41,296,000 -37,814,000 -34,785,000 -6,230,000 -38,766,000 -42,464,000  -33,100,000 -40,528,000 -47,493,000  -50,726,000 -41,942,000 -44,200,000 -37,887,000 -37,631,000 -35,894,000 -35,241,000 -30,211,000 -26,135,000 -24,693,000 -20,996,000 -18,454,000 -17,535,000 -11,565,000 -7,847,000 -7,099,000 
          adjustments to reconcile net loss to net cash from operating activities:
        		                                        
          amortization of right-of-use assets
        		1,374,000 1,331,000 1,289,000 1,249,000 1,210,000 1,173,000 1,135,000 1,101,000 1,067,000 1,033,000 1,005,000 983,000 964,000 809,000 784,000 759,000 550,000 531,000 512,000 493,000 476,000 458,000 442,000 426,000 411,000 395,000 381,000              
          depreciation of property and equipment
        		856,000 865,000 875,000 907,000 948,000 999,000 1,042,000 1,081,000 1,197,000 1,289,000 1,433,000 1,512,000 1,637,000 1,695,000 1,730,000 1,779,000 1,847,000 1,909,000 1,948,000 2,017,000 2,034,000 2,024,000 2,039,000 2,004,000 1,947,000 1,854,000 1,783,000 1,714,000 1,458,000 1,234,000 1,175,000  595,000 356,000 315,000      
          share-based compensation expense
        		6,472,000 6,196,000 4,953,000 3,244,000 3,531,000 3,485,000 2,881,000 2,352,000 2,284,000 2,409,000 2,750,000 2,907,000 3,366,000 6,950,000 3,971,000 3,726,000 5,896,000 2,722,000 4,063,000 3,219,000 3,284,000 3,794,000 3,999,000 4,987,000 5,020,000 5,157,000 4,345,000 4,011,000 3,610,000 3,545,000 4,430,000 3,177,000 3,000,000 2,967,000 2,999,000 2,528,000 2,183,000 1,270,000 866,000 814,000 
          changes in operating assets and liabilities:
        		                                        
          accounts receivable
        		-8,383,000 -1,617,000 1,422,000 -1,422,000 1,290,000 -1,290,000 21,086,000 -14,086,000        22,500,000 -22,500,000   0 0 0 20,000,000 0 0   0 5,000,000           0 
          prepaid expenses
        		47,000 1,362,000 1,482,000 1,028,000 1,575,000 -1,008,000 -1,227,000 -2,398,000 1,498,000 219,000 -1,299,000 -513,000 -2,023,000 1,544,000 -356,000 1,043,000 1,561,000 1,242,000 4,000 -2,468,000 -1,514,000 3,547,000 -373,000                  
          other assets
        		4,847,000 -199,000 118,000 -4,214,000 2,389,000 -6,000 -1,394,000 91,000 272,000 -569,000 -1,804,000 -109,000 5,449,000 -1,095,000 -851,000 -1,385,000 4,522,000 -1,760,000 -1,715,000 -985,000 15,257,000 1,832,000 -1,983,000                  
          accounts payable
        		59,000 276,000 -2,052,000 3,460,000 -5,078,000 6,107,000 -1,068,000 192,000 503,000 218,000 -4,674,000 1,011,000 5,073,000 774,000 2,490,000 -232,000 -1,084,000 -4,785,000 -466,000 4,555,000 -4,200,000 -2,574,000 7,336,000 -10,968,000 8,431,000 -1,743,000 783,000 2,135,000 3,113,000 -702,000 390,000 3,268,000 -1,061,000 668,000 1,017,000 1,470,000 716,000 1,479,000 -296,000 -816,000 
          accrued expenses and other current liabilities
        		3,461,000 5,213,000 -13,268,000 6,939,000 3,465,000 4,056,000 -10,207,000 4,204,000 2,195,000 2,807,000 -9,930,000 6,496,000 -29,000 4,156,000 -7,932,000 3,497,000 1,441,000 3,262,000 -5,310,000 1,789,000 1,962,000 -2,774,000 -5,191,000 2,446,000 2,106,000 3,363,000 -6,467,000 5,217,000 1,416,000 1,772,000 -2,541,000 2,652,000 1,734,000 701,000 -537,000 -188,000 1,276,000 879,000 329,000 340,000 
          deferred revenue
        		2,392,000 -7,082,000 -9,175,000 -82,326,000 7,677,000 -6,402,000 -12,538,000 -7,971,000 -42,042,000 -22,107,000 126,448,000 -1,239,000 -151,000 -271,000 -1,584,000 -1,765,000 -13,923,000   -9,439,000 -3,450,000 -3,027,000 -4,161,000 -2,400,000 -2,929,000 -7,628,000 -3,026,000 -3,622,000 -4,492,000 170,121,000 -1,422,000 -676,000 -676,000 -676,000 -676,000 -677,000 2,109,000   0 
          operating lease liabilities
        		-1,939,000 -1,888,000 -1,805,000 -1,766,000 -1,705,000 -1,659,000 -1,584,000 -1,549,000 -1,493,000 -1,452,000 -1,002,000 -981,000 -928,000 -1,220,000 -1,179,000 -1,156,000 -939,000 -912,000 -880,000 -861,000 -821,000 -796,000 -765,000 -750,000 -712,000 -691,000 -663,000              
          net cash from operating activities
        		-44,666,000 -46,012,000 -63,039,000 -43,648,000 -46,478,000 -27,468,000 -33,432,000 -33,239,000 -34,457,000 -37,257,000 85,522,000 -33,440,000 -25,646,000 -28,822,000 -39,873,000 -7,033,000 -28,184,000 -9,401,000 -44,375,000 -31,415,000 -20,172,000 -38,145,000 -26,250,000 -61,240,000 -43,681,000 -32,929,000 -50,381,000 -32,820,000 -29,010,000 71,394,000 -32,426,000 -22,754,000 -23,411,000 -20,088,000 -17,418,000 -13,294,000 -11,832,000 390,000 -7,136,000 -6,668,000 
          capital expenditures
        		-248,000 -306,000 -165,000 -86,000 -383,000 -52,000 -417,000 -356,000 -198,000 -72,000 -489,000 -204,000 -457,000 -492,000 -208,000 -15,000 -98,000 -339,000 -108,000 -557,000 -65,000 -136,000 -580,000 0 -465,000 -1,599,000 -508,000 0 -3,389,000 -1,922,000 -1,164,000 -4,079,000 -5,606,000 -5,567,000 -3,635,000 -2,729,000 -1,275,000 0 -685,000 -970,000 
          free cash flows
        		-44,914,000 -46,318,000 -63,204,000 -43,734,000 -46,861,000 -27,520,000 -33,849,000 -33,595,000 -34,655,000 -37,329,000 85,033,000 -33,644,000 -26,103,000 -29,314,000 -40,081,000 -7,048,000 -28,282,000 -9,740,000 -44,483,000 -31,972,000 -20,237,000 -38,281,000 -26,830,000 -61,240,000 -44,146,000 -34,528,000 -50,889,000 -32,820,000 -32,399,000 69,472,000 -33,590,000 -26,833,000 -29,017,000 -25,655,000 -21,053,000 -16,023,000 -13,107,000 390,000 -7,821,000 -7,638,000 
          cash flows from investing activities
        		                                        
          purchases of property and equipment
        		-248,000 -306,000 -165,000 -86,000 -383,000 -52,000 -417,000 -356,000 -198,000 -72,000 -489,000 -204,000 -457,000 -492,000 -208,000 -15,000 -98,000 -339,000 -108,000 -557,000 -65,000 -136,000 -580,000  -465,000 -1,599,000 -508,000  -3,389,000 -1,922,000 -1,164,000 -4,079,000 -5,606,000 -5,567,000 -3,635,000 -2,729,000 -1,275,000    
          net cash from investing activities
        		-248,000 -306,000 -165,000 -86,000 -383,000 -52,000 -417,000 -356,000 -198,000 -72,000 -489,000 24,840,000 -501,000 24,614,000 -50,208,000 -15,000 -98,000 -339,000 -108,000 -557,000 -65,000 -136,000 -580,000 -1,346,000 -465,000 -1,599,000 -508,000 -3,463,000 -3,389,000 -1,922,000 -1,164,000 -4,081,000 -5,608,000 -5,569,000 -3,638,000 -5,328,000 -1,275,000 -874,000 -685,000 -970,000 
          cash flows from financing activities
        		                                        
          proceeds from the issuance of ordinary shares, net of offering costs
        		     0 14,038,000                                  
          proceeds from the issuance of pre-funded warrants, net of offering costs
        		                                        
          proceeds from issuance of ordinary shares pursuant to the “at-the-market” equity program, net of offering costs
        		30,212,000 11,099,000 1,262,000                                      
          proceeds from the exercise of share options
        		2,041,000 594,000 2,451,000 2,060,000 690,000 106,000 123,000 388,000 35,000 85,000 1,000 136,000 50,000 0 37,000 0 50,000 0 200,000 19,000 702,000 10,000 10,000 757,000 253,000 116,000 1,481,000 646,000 1,351,000 1,560,000 1,553,000 604,000 80,000 37,000 206,000 97,000     
          proceeds from the espp
        		439,000 0 442,000 0 310,000 0 349,000 0 319,000 0 429,000 0 198,000 0 174,000                          
          net cash from financing activities
        		32,692,000 11,693,000 4,155,000 34,981,000 203,746,000 653,000 14,510,000 93,962,000 1,670,000 1,849,000 35,053,000 55,000 17,000 65,800,000 1,316,000 33,793,000 8,349,000 5,045,000 8,641,000 19,000 142,523,000 11,382,000 614,000 757,000 253,000 -157,000 163,546,000 646,000 1,351,000 61,560,000 1,537,000 589,000 59,000 93,536,000 190,000 15,000 184,000 28,938,000 -16,000 102,736,000 
          effect of foreign exchange rates on cash, cash equivalents, and restricted cash
        		-29,000 43,000 58,000  120,000 -81,000 -74,000                                  
          net increase in cash, cash equivalents, and restricted cash
        		    157,005,000 -26,948,000 -19,413,000                                  
          cash, cash equivalents, and restricted cash, beginning of period
        		0 0 305,838,000  0 0 204,050,000                                  
          cash, cash equivalents, and restricted cash, end of period
        		-12,251,000 -34,582,000 246,847,000  157,005,000 -26,948,000 184,637,000                                  
          net decrease in cash, cash equivalents, and restricted cash
        		 -34,582,000 -58,991,000                                      
          loss on disposal of property and equipment
        		                             41,000 13,000          
          other non-current liabilities
        		       0       868,000 -1,014,000 675,000 -68,000 -67,000 -946,000 -100,000 -101,000 -100,000 -72,000 -104,000 -142,000 -103,000 647,000 -38,000 -72,000 -14,000 598,000 -1,049,000 15,000 1,259,000 877,000 -4,000 -4,000 -5,000  
          proceeds from the sale of property and equipment
        		           0 0                       0 0    
          purchase of short-term investments
        		           0 -25,044,000 0 -50,000,000                          
          proceeds from the maturity of short-term investments
        		           25,044,000 25,000,000                            
          proceeds from the issuance of ordinary shares as a part of the june 2022 offering, net of offering costs
        		                                        
          proceeds from the issuance of ordinary shares as a part of the december 2023 offering, net of offering costs
        		   0                                     
          proceeds from the issuance of ordinary shares as a part of the september 2024 offering, net of offering costs
        		   27,858,000                                     
          proceeds from issuance pre-funded warrants as a part of the june 2022 offering, net of offering costs
        		                                        
          proceeds from issuance pre-funded warrants as a part of the, september 2024 offering, net of offering costs
        		                                        
          proceeds from issuance of ordinary shares pursuant to the gsk collaboration agreement
        		                                        
          proceeds from issuance of ordinary shares pursuant to the at-the-market equity program
        		              1,105,000 33,793,000 8,027,000 5,045,000 8,105,000 0 47,906,000 11,372,000 604,000                  
          effect of foreign exchange rates on cash
        		                               285,000 30,000 31,000 57,000 -115,000 173,000 -86,000 14,000 82,000 
          net increase in cash, cash equivalents and restricted cash
        		       60,425,000 -33,017,000 -35,580,000 120,065,000     26,668,000    -31,865,000 122,309,000 -26,894,000 -26,210,000 -61,844,000 -43,891,000 -34,655,000 112,754,000 -35,665,000 -30,938,000            
          cash, cash equivalents and restricted cash, beginning of period
        		       0 0 0 92,157,000 0 0 0 154,215,000 0 0 0 188,148,000 0 0 0 150,808,000 0 0 0 178,444,000 0 0 0 146,113,000          
          cash, cash equivalents and restricted cash, end of period
        		       60,425,000 -33,017,000 -35,580,000 212,222,000 -8,451,000 -26,206,000 61,450,000 65,364,000 26,668,000 -19,944,000 -4,695,000 152,186,000 -31,865,000 122,309,000 -26,894,000 124,598,000 -61,844,000 -43,891,000 -34,655,000 291,198,000 -35,665,000 -30,938,000 130,944,000 114,103,000          
          supplemental disclosure of cash flow information:
        		                                        
          offering costs in accounts payable at period end
        		                                        
          increase in operating lease right-of-use assets and lease liabilities related to new lease
        		                                        
          proceeds from the issuance of pre-funded warrants as a part of the september 2024 offering, net of offering costs
        		                                        
          proceeds from the issuance of ordinary shares pursuant to the gsk collaboration agreement
        		                                        
          proceeds from issuance of ordinary share pursuant to the “at-the-market” equity program, net of offering costs
        		                                        
          supplemental disclosure of cash flow information
        		                                        
          offering costs related to the september 2024 offering in accrued expenses at period end
        		                                        
          proceeds from issuance of ordinary share pursuant to the at-the-market equity program, net of offering costs
        		                                        
          adjustments to reconcile net loss to net cash used in operating activities:
        		                                        
          proceeds from issuance of ordinary shares, net of offering costs
        		       58,951,000 0   -15,000 -229,000       0    0 0 -273,000 162,065,000 0 0   0 -5,000   0    0 
          proceeds from issuance pre-funded warrants, net of offering costs
        		           -4,000 -64,000                            
          proceeds from the sale property and equipment
        		                                        
          proceeds from maturity of short-term investments
        		                                        
          proceeds from issuance of pre-funded warrants, net of offering costs
        		                                        
          proceeds from issuance of ordinary shares pursuant to the at-the-market equity program, net of offering costs
        		        1,316,000    62,000                            
          effect of foreign exchange rates on cash, cash equivalents and restricted cash
        		        -32,000 -100,000 -21,000  -76,000 -142,000 -86,000  -11,000 0 -120,000  23,000 5,000 6,000  2,000 30,000 97,000  110,000 -88,000 43,000          
          increase in operating lease right-of-use assets and lease liabilities related to lease extension
        		            0                            
          proceeds from issuance of ordinary shares
        		          34,623,000                              
          net decrease in cash, cash equivalents and restricted cash
        		           -8,451,000 -26,206,000 61,450,000 -88,851,000   -4,695,000 -35,962,000            -32,010,000          
          at-the-market offering costs in accounts payable at period end
        		                 -20,000 77,000                      
          proceeds from the employee share purchase plan
        		                272,000 0 336,000                      
          net income
        		                                        
          adjustments to reconcile net income to net cash from operating activities:
        		                                        
          proceeds from the employee share purchase program
        		                   0                     
          deferred follow-on offering costs in accounts payable and accrued expenses at period end
        		                          280,000              
          amortization of lease incentive obligation
        		                           -289,000 -232,000 -162,000 -107,000 -77,000 -65,000 -49,000 -17,000      
          net income on disposal of property and equipment
        		                                        
          deferred rent
        		                           73,000 230,000 283,000 387,000 387,000 1,023,000 1,153,000 1,031,000 194,000 117,000 118,000 136,000 92,000 
          deferred income taxes
        		                               0    -742,000 135,000 48,000 -5,000 -146,000 
          purchases of property and equipment, net of tenant improvement allowances
        		                                        
          payments on capital lease obligation
        		                           0 0 0 -16,000 -15,000 -16,000 -15,000 -16,000 -15,000 -16,000 -15,000 -16,000 -14,000 
          net loss on disposal of property and equipment
        		                           0             
          prepaid expenses and other current assets
        		                        -4,564,000 779,000 -637,000 -4,782,000 -1,429,000 -4,773,000 515,000 -2,615,000 -1,544,000 -530,000 -1,813,000 -871,000 1,603,000 -1,655,000 -414,000 -23,000 
          other non-current assets
        		                        -2,561,000 -2,331,000 -2,577,000  -5,000 1,000 -11,000 -351,000       -53,000  
          tax benefit related to share-based compensation
        		                                   -243,000     
          costs associated with initial public offering
        		                                   0     
          cash paid for taxes, net of refunds
        		                            16,000 108,000 314,000          
          property and equipment purchases in accounts payable and accrued expenses at period end
        		                            1,298,000 86,000 469,000 -1,080,000 -1,568,000 11,000 2,976,000 58,000     
          tenant improvements paid for by the landlord during the period
        		                            1,499,000 433,000 800,000 0         
          tenant improvements to be reimbursed by the landlord
        		                            628,000 2,395,000 1,279,000          
          adjustments to reconcile net loss to net cash flows from operating activities:
        		                                        
          depreciation and amortization
        		                                   259,000 188,000 184,000 153,000 132,000 
          increase in restricted cash
        		                               -2,000 -2,000 -2,000 -3,000     0 
          proceeds from government grant reimbursements for property and equipment
        		                                       0 
          proceeds from initial public offering, net of offering costs and underwriter commissions
        		                                        
          proceeds from issuance of series b preferred shares, net of offering costs
        		                                       -111,000 
          proceeds from government grant
        		                                       0 
          net increase in cash and cash equivalents
        		                               -25,961,000 -28,930,000 67,910,000 -20,809,000 -18,722,000     
          cash and cash equivalents at beginning of period
        		                               0 0 0 150,293,000 0     
          cash and cash equivalents at end of period
        		                               -25,961,000 -28,930,000 67,910,000 129,484,000 -18,722,000     
          deferred offering costs in accounts payable and accrued expenses at period end
        		                                        
          cash paid for interest
        		                                        
          equipment acquired for capital lease obligation
        		                                        
          deferred follow-on offering costs in accrued expenses at period end
        		                                        
          increase in the lease incentive obligation during the period
        		                                  1,082,000      
          conversion of related party notes payable into ordinary and series a preferred shares
        		                                        
          reclassification of series a preferred shares from permanent equity to temporary equity
        		                                        
          increase in accounts payable for initial public offering costs
        		                                        
          payments associated with initial public offering
        		                                        
          proceeds from the exercise of stock options
        		                                        
          net increase in cash
        		                                     28,368,000 -7,823,000 95,180,000 
          cash at beginning of period
        		                                     0 161,220,000 0 
          cash at end of period
        		                                     28,368,000 153,397,000 95,180,000 
          property and equipment purchases in accounts payable at period end
        		                                     854,000 185,000  
          purchase of property and equipment
        		                                      -685,000 -970,000 
          proceeds from sale of property and equipment
        		                                        
          proceeds from related party notes payable
        		                                        
          payment of related party notes payable
        		                                        
          equipment under acquired for capital lease obligation
        		                                        
          conversion of ordinary shares into series a preferred shares
        		                                        
          property and equipment purchases in accounts payable
        		                                        
          increase in accrued expenses for deferred offering costs