Summary of Significant Accounting Policies (Tables)
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12 Months Ended |
Dec. 31, 2017 |
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| Summary of Significant Accounting Policies |
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| Schedule of amounts reclassified out of accumulated other comprehensive income |
The following amounts were reclassified out of other comprehensive income during the year ended December 31, 2017 (in thousands):
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Amount
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Component of Accumulated Other Comprehensive Income
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reclassified
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Affected line item in the Statement of Operations
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Unrealized gains (losses) on available-for-sale securities
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Reclassification adjustment for losses on available-for-sale debt securities
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$
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646
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Other income, net
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| Schedule of the reconciliation of cash, cash equivalents, and restricted cash |
The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported within the balance sheet that sum to the total of the same such amounts shown in the statement of cash flows (in thousands).
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December 31,
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December 31,
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2017
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2016
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Cash and cash equivalents
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$
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84,043
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$
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158,779
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Restricted cash
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4,253
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4,017
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Total cash, cash equivalents, and restricted cash shown in the statement of cash flows
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$
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88,296
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$
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162,796
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| Schedule of investments in available-for-sale debt securities categorized as cash equivalents or marketable securities |
As of December 31, 2017, the Company has the following investments in available-for-sale debt securities, which are categorized as cash equivalents or marketable securities — available-for-sale debt securities on the balance sheet depending on their maturity at acquisition (in thousands):
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Foreign
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Gross
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Gross
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currency
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Aggregate
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Amortized
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Unrealized
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Unrealized
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translation
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Estimated
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Maturity
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cost
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Gains
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Losses
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adjustment
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Fair Value
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Cash equivalents:
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Corporate debt securities
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Less than 3 months
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$
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1,610
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$
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$
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(22
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)
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$
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22
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$
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1,610
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$
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1,610
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$
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—
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$
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(22
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)
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$
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22
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$
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1,610
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Marketable securities:
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Corporate debt securities
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3 months to 1 year
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$
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124,406
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$
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—
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$
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(3,723
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)
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$
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3,535
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$
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124,218
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$
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124,406
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$
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—
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$
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(3,723
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)
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$
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3,535
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$
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124,218
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| Schedule of estimated useful lives of property, plant and equipment |
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Computer equipment
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3 to 5 years
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Laboratory equipment
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5 years
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Office equipment
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5 years
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Leasehold improvements
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the expected duration of the lease
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| Schedule of numerator and denominator in the basic and diluted loss per share computation |
The following table reconciles the numerator and denominator in the basic and diluted loss per share computation (in thousands):
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Year ended
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Year ended
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Six months ended
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Year ended
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December 31,
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December 31,
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December 31
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June 30,
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2017
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2016
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2015
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2015
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Numerator for basic and diluted loss per share
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Net loss
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$
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(70,138
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)
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$
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(71,579
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)
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$
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(23,000
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)
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$
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(22,058
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)
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Deemed dividend on convertible preferred shares
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—
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—
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—
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(14,735
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)
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Net loss attributable to shareholders used for basis and diluted EPS calculation
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$
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(70,138
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)
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$
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(71,579
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)
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$
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(23,000
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)
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$
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(36,793
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)
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Denominator for basic and diluted loss per share
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Weighted average number of shares used to calculate basic and diluted loss per share
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527,637,086
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424,713,997
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424,711,900
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214,704,593
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| Schedule of potentially dilutive equity instruments excluded from the diluted loss per share calculation |
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Year ended
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Year ended
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Six months ended
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Year ended
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December 31,
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December 31,
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December 31
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June 30,
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2017
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2016
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2015
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2015
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Weighted average number of share options(1)
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70,374,832
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45,882,791
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31,203,477
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31,473,477
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Weighted average number of Preferred Shares
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—
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—
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—
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122,848,381
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(1) From January 1, 2018 through to February 28, 2018, the Company granted 9,994,656 options over ordinary shares with an exercise price determined by reference to the market value of an ADS at the date of grant, and 6,555,900 options over ordinary shares with an exercise price equal to the nominal value of the ordinary shares (£0.001 per share).
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