Pay vs Performance Disclosure - USD ($) | 12 Months Ended |
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 |
Pay vs Performance Disclosure | | | | |
Pay vs Performance Disclosure, Table | Pay Versus Performance Table Average Value of Initial Fixed $100 Summary Average Investment Based On: Summary Compensation Compensation Peer Group Compensation Compensation Table Total Actually Paid Total Total Net (Loss) / Table Total Actually Paid for Non- to Non-PEO Shareholder Shareholder Income Year for PEO (1) to PEO (1) (2) (3) PEO NEOs (4) NEOs (3) (4) (5) Return (6) Return (7) ($ in millions) (8) 2023 6,584,919 (1,396,962) 2,668,599 95,398 9.45 115.42 (308.5) 2022 5,628,174 6,956,368 2,352,186 2,794,041 31.64 111.27 (128.3) 2021 5,100,101 1,561,702 2,341,941 1,100,648 28.94 124.89 332.8 2020 4,465,377 (7,341,891) 2,283,388 (599,725) 50.42 125.69 (141.4) (1) Reflects compensation for our Chief Executive Officer, Mr. Kapusta, who served as our Principal Executive Officer (“PEO”) in 2020, 2021, 2022 and 2023. (2) The amounts reported for Compensation Actually Paid (“CAP”) have been calculated in accordance with Item 402(v) of Regulation S-K and do not reflect compensation actually earned, realized, or received by our PEO. The following table discloses the adjustments made to the Summary Compensation Table (“SCT”) amounts to calculate the CAP amounts. Fiscal year-ended December 31, Reconciliation of Summary Compensation Table Total to Compensation Actually Paid for PEO 2023 ($) 2022 ($) 2021 ($) 2020 ($) Summary Compensation Table Total 6,584,919 5,628,174 5,100,101 4,465,377 Deduction for Reported Grant Date Fair Value of Stock Awards (a) (2,502,900) (2,464,117) (2,065,081) (1,750,608) Deduction for Reported Grant Date Fair Value of Option Awards (a) (3,064,662) (2,006,170) (2,065,074) (1,749,294) Addition of fair value at year-end of equity awards granted during the year that remained outstanding and unvested 1,549,893 5,696,179 2,114,800 2,255,198 Change in fair value at year-end versus prior year-end for awards granted in prior year that remained outstanding and unvested (3,225,394) 294,663 (1,571,302) (6,390,497) Change in fair value at vesting date versus prior year-end for awards granted in prior year that vested during the year (738,818) (192,361) 48,258 (4,172,067) Compensation Actually Paid (1,396,962) 6,956,368 1,561,702 (7,341,891) (a) Reflects the total of amounts reported in the Stock Awards and Option Awards columns of the SCT for our PEO in each of the reported years. (3) Measurement date equity fair values are calculated with assumptions derived on a basis consistent with, and are not materially different from, those used for grant date fair value purposes. Restricted stock units are valued based on the last sale price of our stock on the Nasdaq Global Select Market on the relevant measurement date. Performance share units are valued by applying the probable or actual outcome based on performance through the measurement date, multiplied by the last sale price of our stock on the Nasdaq Global Select Market on the relevant measurement date. Options are valued using a Hull & White option pricing model with assumptions established as at the relevant measurement date. (4) Reflects the average compensation for the non-PEO NEOs for each respective year presented. The persons included as non-PEO NEOs in each respective year reflects the relevant individuals included in the SCT for each of the years as follows: 2020: Alexander Kuta, Christian Klemt, Ricardo Dolmetsch, Robert Gut and Sander van Deventer; 2021: Alexander Kuta, Christian Klemt, Ricardo Dolmetsch, and Pierre Caloz; 2022: Alexander Kuta, Christian Klemt, Ricardo Dolmetsch, and Pierre Caloz; and 2023: Christian Klemt, Ricardo Dolmetsch, Pierre Caloz, Richard Porter and Jeannette Potts. (5) The amounts reported for CAP have been calculated in accordance with Item 402(v) of Regulation S-K and do not reflect compensation actually earned, realized, or received by our non-PEO NEOs. The following table discloses the adjustments made to the SCT amounts to calculate the CAP amounts. Fiscal year-ended December 31, Reconciliation of Summary Compensation Table Total to Compensation Actually Paid for non-PEO NEOs 2023 ($) 2022 ($) 2021 ($) 2020 ($) Summary Compensation Table Total 2,668,599 2,352,186 2,341,941 2,283,388 Deduction for Reported Grant Date Fair Value of Stock Awards (a) (935,117) (877,719) (826,032) (973,072) Deduction for Reported Grant Date Fair Value of Option Awards (a) (901,029) (682,913) (897,864) (614,922) Addition of fair value at year-end of equity awards granted during the year that remained outstanding and unvested 520,304 1,939,018 918,900 1,213,407 Change in fair value at year-end versus prior year-end for awards granted in prior year that remained outstanding and unvested (932,864) 123,475 (425,980) (1,718,898) Change in fair value at vesting date versus prior year-end for awards granted in prior year that vested during the year (324,495) (60,006) (10,317) (789,628) Compensation Actually Paid 95,398 2,794,041 1,100,648 (599,725) (a) Reflects the total of amounts reported in the Stock Awards and Option Awards columns of the SCT, averaged for our non-PEO NEOs in each of the reported years. (6) Total Shareholder Return (“TSR”) represents the cumulative total shareholder return of investing in our shares for the period beginning on the last trading day of 2019 through the last trading day of each of the years presented in the Pay Versus Performance Table. (7) Peer Group TSR represents the cumulative total shareholder return of the NASDAQ Biotechnology Index (“NBI”) for the period beginning on the last trading day of 2019 through the last trading day of each of the years presented in the Pay Versus Performance Table. The NBI is the peer group used for purposes of Item 201(e) of Regulation S-K under the Exchange Act in our Annual Report on Form 10-K for the year ended December 31, 2023. (8) Reflects Net (Loss) / Income as reported in the Company’s Annual Report on Form 10-K for the years ending December 31, 2023, 2022, 2021 and 2020. | | | |
Company Selected Measure Name | Total Shareholder Return | | | |
Named Executive Officers, Footnote | (1) Reflects compensation for our Chief Executive Officer, Mr. Kapusta, who served as our Principal Executive Officer (“PEO”) in 2020, 2021, 2022 and 2023. | | | |
Peer Group Issuers, Footnote | (7) Peer Group TSR represents the cumulative total shareholder return of the NASDAQ Biotechnology Index (“NBI”) for the period beginning on the last trading day of 2019 through the last trading day of each of the years presented in the Pay Versus Performance Table. The NBI is the peer group used for purposes of Item 201(e) of Regulation S-K under the Exchange Act in our Annual Report on Form 10-K for the year ended December 31, 2023. | | | |
PEO Total Compensation Amount | $ 6,584,919 | $ 5,628,174 | $ 5,100,101 | $ 4,465,377 |
PEO Actually Paid Compensation Amount | $ (1,396,962) | 6,956,368 | 1,561,702 | (7,341,891) |
Adjustment To PEO Compensation, Footnote | (2) The amounts reported for Compensation Actually Paid (“CAP”) have been calculated in accordance with Item 402(v) of Regulation S-K and do not reflect compensation actually earned, realized, or received by our PEO. The following table discloses the adjustments made to the Summary Compensation Table (“SCT”) amounts to calculate the CAP amounts. Fiscal year-ended December 31, Reconciliation of Summary Compensation Table Total to Compensation Actually Paid for PEO 2023 ($) 2022 ($) 2021 ($) 2020 ($) Summary Compensation Table Total 6,584,919 5,628,174 5,100,101 4,465,377 Deduction for Reported Grant Date Fair Value of Stock Awards (a) (2,502,900) (2,464,117) (2,065,081) (1,750,608) Deduction for Reported Grant Date Fair Value of Option Awards (a) (3,064,662) (2,006,170) (2,065,074) (1,749,294) Addition of fair value at year-end of equity awards granted during the year that remained outstanding and unvested 1,549,893 5,696,179 2,114,800 2,255,198 Change in fair value at year-end versus prior year-end for awards granted in prior year that remained outstanding and unvested (3,225,394) 294,663 (1,571,302) (6,390,497) Change in fair value at vesting date versus prior year-end for awards granted in prior year that vested during the year (738,818) (192,361) 48,258 (4,172,067) Compensation Actually Paid (1,396,962) 6,956,368 1,561,702 (7,341,891) (a) Reflects the total of amounts reported in the Stock Awards and Option Awards columns of the SCT for our PEO in each of the reported years. | | | |
Non-PEO NEO Average Total Compensation Amount | $ 2,668,599 | 2,352,186 | 2,341,941 | 2,283,388 |
Non-PEO NEO Average Compensation Actually Paid Amount | $ 95,398 | 2,794,041 | 1,100,648 | (599,725) |
Adjustment to Non-PEO NEO Compensation Footnote | (5) The amounts reported for CAP have been calculated in accordance with Item 402(v) of Regulation S-K and do not reflect compensation actually earned, realized, or received by our non-PEO NEOs. The following table discloses the adjustments made to the SCT amounts to calculate the CAP amounts. Fiscal year-ended December 31, Reconciliation of Summary Compensation Table Total to Compensation Actually Paid for non-PEO NEOs 2023 ($) 2022 ($) 2021 ($) 2020 ($) Summary Compensation Table Total 2,668,599 2,352,186 2,341,941 2,283,388 Deduction for Reported Grant Date Fair Value of Stock Awards (a) (935,117) (877,719) (826,032) (973,072) Deduction for Reported Grant Date Fair Value of Option Awards (a) (901,029) (682,913) (897,864) (614,922) Addition of fair value at year-end of equity awards granted during the year that remained outstanding and unvested 520,304 1,939,018 918,900 1,213,407 Change in fair value at year-end versus prior year-end for awards granted in prior year that remained outstanding and unvested (932,864) 123,475 (425,980) (1,718,898) Change in fair value at vesting date versus prior year-end for awards granted in prior year that vested during the year (324,495) (60,006) (10,317) (789,628) Compensation Actually Paid 95,398 2,794,041 1,100,648 (599,725) (a) Reflects the total of amounts reported in the Stock Awards and Option Awards columns of the SCT, averaged for our non-PEO NEOs in each of the reported years. | | | |
Compensation Actually Paid vs. Total Shareholder Return | | | | |
Compensation Actually Paid vs. Net Income | | | | |
Tabular List, Table | Tabular List of Company Performance Measures As described in our CD&A, we believe that compensation should pay for performance, align interest with our shareholders, use at risk compensation to incentivize executives, and attract and retain talented executives. We seek to align compensation opportunities for our NEOs with strategic priorities for the Company, which largely reflect non-financial measures. Total Shareholder Return is the only financial measure (per the definition in Item 402(v)(2) of Regulation S-K) currently used in our executive compensation program to assess performance in respect of the 2021 PSU awards on a relative basis. As a result of Total Shareholder Return already being included in the Pay Versus Performance table, no company-selected measure is identified or reported. Abular List of Tabular List of Most Important Performance Measures Total Shareholder Return | | | |
Total Shareholder Return Amount | $ 9.45 | 31.64 | 28.94 | 50.42 |
Peer Group Total Shareholder Return Amount | 115.42 | 111.27 | 124.89 | 125.69 |
Net Income (Loss) | $ (308,500,000) | (128,300,000) | 332,800,000 | (141,400,000) |
PEO Name | Mr. Kapusta | | | |
PEO | Deduction for Reported Grant Date Fair Value of Stock Awards (a) | | | | |
Pay vs Performance Disclosure | | | | |
Adjustment to Compensation, Amount | $ (2,502,900) | (2,464,117) | (2,065,081) | (1,750,608) |
PEO | Deduction for Reported Grant Date Fair Value of Option Awards (a) | | | | |
Pay vs Performance Disclosure | | | | |
Adjustment to Compensation, Amount | (3,064,662) | (2,006,170) | (2,065,074) | (1,749,294) |
PEO | Addition of fair value at year-end of equity awards granted during the year that remained outstanding and unvested | | | | |
Pay vs Performance Disclosure | | | | |
Adjustment to Compensation, Amount | 1,549,893 | 5,696,179 | 2,114,800 | 2,255,198 |
PEO | Change in fair value at year-end versus prior year-end for awards granted in prior year that remained outstanding and unvested | | | | |
Pay vs Performance Disclosure | | | | |
Adjustment to Compensation, Amount | (3,225,394) | 294,663 | (1,571,302) | (6,390,497) |
PEO | Change in fair value at vesting date versus prior year-end for awards granted in prior year that vested during the year | | | | |
Pay vs Performance Disclosure | | | | |
Adjustment to Compensation, Amount | (738,818) | (192,361) | 48,258 | (4,172,067) |
Non-PEO NEO | Deduction for Reported Grant Date Fair Value of Stock Awards (a) | | | | |
Pay vs Performance Disclosure | | | | |
Adjustment to Compensation, Amount | (935,117) | (877,719) | (826,032) | (973,072) |
Non-PEO NEO | Deduction for Reported Grant Date Fair Value of Option Awards (a) | | | | |
Pay vs Performance Disclosure | | | | |
Adjustment to Compensation, Amount | (901,029) | (682,913) | (897,864) | (614,922) |
Non-PEO NEO | Addition of fair value at year-end of equity awards granted during the year that remained outstanding and unvested | | | | |
Pay vs Performance Disclosure | | | | |
Adjustment to Compensation, Amount | 520,304 | 1,939,018 | 918,900 | 1,213,407 |
Non-PEO NEO | Change in fair value at year-end versus prior year-end for awards granted in prior year that remained outstanding and unvested | | | | |
Pay vs Performance Disclosure | | | | |
Adjustment to Compensation, Amount | (932,864) | 123,475 | (425,980) | (1,718,898) |
Non-PEO NEO | Change in fair value at vesting date versus prior year-end for awards granted in prior year that vested during the year | | | | |
Pay vs Performance Disclosure | | | | |
Adjustment to Compensation, Amount | $ (324,495) | $ (60,006) | $ (10,317) | $ (789,628) |