Annual report pursuant to Section 13 and 15(d)

Summary of Significant Accounting Policies (Tables)

v3.8.0.1
Summary of Significant Accounting Policies (Tables)
12 Months Ended
Dec. 31, 2017
Summary of Significant Accounting Policies  
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):

 

 

Amount

 

 

 

Component of Accumulated Other Comprehensive Income

 

reclassified

 

Affected line item in the Statement of Operations

 

 

 

 

 

 

 

Unrealized gains (losses) on available-for-sale securities

 

 

 

 

 

Reclassification adjustment for losses on available-for-sale debt securities

 

$

646

 

Other income, net

 

 

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).

 

 

 

December 31,

 

December 31,

 

 

 

2017

 

2016

 

Cash and cash equivalents

 

$

84,043

 

$

158,779

 

Restricted cash

 

4,253

 

4,017

 

 

 

 

 

 

 

 

 

 

 

 

 

Total cash, cash equivalents, and restricted cash shown in the statement of cash flows

 

$

88,296

 

$

162,796

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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):

 

 

 

 

 

 

 

 

 

 

 

Foreign

 

 

 

 

 

 

 

 

 

Gross

 

Gross

 

currency

 

Aggregate

 

 

 

 

 

Amortized

 

Unrealized

 

Unrealized

 

translation

 

Estimated

 

 

 

Maturity

 

cost

 

Gains

 

Losses

 

adjustment

 

Fair Value

 

Cash equivalents:

 

 

 

 

 

 

 

 

 

 

 

 

 

Corporate debt securities

 

Less than 3 months

 

$

1,610

 

$

 

 

$

(22

)

$

22

 

$

1,610

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

$

1,610

 

$

 

$

(22

)

$

22

 

$

1,610

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Marketable securities:

 

 

 

 

 

 

 

 

 

 

 

 

 

Corporate debt securities

 

3 months to 1 year

 

$

124,406

 

$

 

$

(3,723

)

$

3,535

 

$

124,218

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

$

124,406

 

$

 

$

(3,723

)

$

3,535

 

$

124,218

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Schedule of estimated useful lives of property, plant and equipment

Computer equipment

 

3 to 5 years

Laboratory equipment

 

5 years

Office equipment

 

5 years

Leasehold improvements

 

the expected duration of the lease

 

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):

 

 

Year ended

 

Year ended

 

Six months ended

 

Year ended

 

 

 

December 31,

 

December 31,

 

December 31

 

June 30,

 

 

 

2017

 

2016

 

2015

 

2015

 

Numerator for basic and diluted loss per share

 

 

 

 

 

 

 

 

 

Net loss

 

$

(70,138

)

$

(71,579

)

$

(23,000

)

$

(22,058

)

Deemed dividend on convertible preferred shares

 

 

 

 

(14,735

)

 

 

 

 

 

 

 

 

 

 

Net loss attributable to shareholders used for basis and diluted EPS calculation

 

$

(70,138

)

$

(71,579

)

$

(23,000

)

$

(36,793

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Denominator for basic and diluted loss per share

 

 

 

 

 

 

 

 

 

Weighted average number of shares used to calculate basic and diluted loss per share

 

527,637,086

 

424,713,997

 

424,711,900

 

214,704,593

 

 

Schedule of potentially dilutive equity instruments excluded from the diluted loss per share calculation

 

 

Year ended

 

Year ended

 

Six months ended

 

Year ended

 

 

 

December 31,

 

December 31,

 

December 31

 

June 30,

 

 

 

2017

 

2016

 

2015

 

2015

 

 

 

 

 

 

 

 

 

 

 

Weighted average number of share options(1)

 

70,374,832

 

45,882,791

 

31,203,477

 

31,473,477

 

Weighted average number of Preferred Shares

 

 

 

 

122,848,381

 

 

 

(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).