As of September 30 the Company had cash and short-term deposits of GBP 51.2M or $62.4M. Cash and short-term deposits, net of expenditures, increased by GBP 9.1M or $11.1M during the third quarter of 2023. In July 2023, the Company received a $9M milestone payment from its partner, Ultragenyx, and gross proceeds of $12.0 million from the issuance of 9,673,419 ADSs representing 48,367,095 ordinary shares through an “at-the-market” offering pursuant to its Open Market Sale Agreement with Jefferies . The Company expects its existing cash and short-term deposits, excluding income from existing or potential partnerships, will enable it to fund its currently committed clinical trials, operating expenses and capital expenditure requirements into 2026.
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