Adaptimmune Therapeutics (ADAP) 10-Q 8 Nov 22 2022 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2022	Nov. 07, 2022
Cover [Abstract]
Document Type	10-Q
Document Period End Date	Sep. 30, 2022
Document Transition Report	false
Document Quarterly Report	true
Entity File Number	001-37368
Entity Registrant Name	ADAPTIMMUNE THERAPEUTICS PLC
Entity Incorporation, State or Country Code	X0
Entity Address, Address Line One	60 Jubilee Avenue, Milton Park
Entity Address, City or Town	Abingdon, Oxfordshire
Entity Address, Country	GB
Entity Address, Postal Zip Code	OX14 4RX
City Area Code	44
Entity Tax Identification Number	00-0000000
Title of 12(b) Security	American Depositary Shares, each representing 6 Ordinary Shares, par value £0.001 per share
Local Phone Number	1235 430000
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Trading Symbol	ADAP
Entity Common Stock, Shares Outstanding		982,974,108
Entity Central Index Key	0001621227
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q3
Amendment Flag	false

UNAUDITED CONDENSED CONSOLIDATE

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)	Sep. 30, 2022	Dec. 31, 2021
Current assets
Cash and cash equivalents	$ 79,001,000	$ 149,948,000
Marketable securities - available-for-sale debt securities	120,669,000	219,632,000
Accounts receivable, net of allowance for doubtful accounts of $0 and $0	1,774,000	752,000
Other current assets and prepaid expenses	62,695,000	45,126,000
Total current assets	264,139,000	415,458,000
Restricted cash	1,712,000	1,718,000
Operating lease right-of-use assets, net of accumulated amortization	17,607,000	20,875,000
Property, plant and equipment, net of accumulated depreciation of $35,229 and $36,253	48,176,000	30,494,000
Intangible assets, net of accumulated amortization of $4,354 and $4,051	568,000	1,000,000
Total assets	332,202,000	469,545,000
Current liabilities
Accounts payable	6,905,000	8,113,000
Operating lease liabilities, current	2,474,000	2,320,000
Accrued expenses and other current liabilities	36,079,000	29,909,000
Deferred revenue, current	20,622,000	22,199,000
Total current liabilities	66,080,000	62,541,000
Operating lease liabilities, non-current	19,926,000	23,148,000
Deferred revenue, non-current	132,233,000	177,223,000
Other liabilities, non-current	626,000	673,000
Total liabilities	218,865,000	263,585,000
Stockholders' equity
Common stock - Ordinary shares par value £0.001, 1,282,773,750 authorized and 982,719,936 issued and outstanding (2021: 1,240,853,520 authorized and 937,547,934 issued and outstanding)	1,394,000	1,337,000
Additional paid in capital	985,312,000	959,611,000
Accumulated other comprehensive income (loss)	6,683,000	(11,142,000)
Accumulated deficit	(880,052,000)	(743,846,000)
Total stockholders' equity	113,337,000	205,960,000
Total liabilities and stockholders' equity	$ 332,202,000	$ 469,545,000

UNAUDITED CONDENSED CONSOLIDA_2

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2022 USD ($) shares	Dec. 31, 2021 USD ($) shares	Sep. 30, 2022 £ / shares	Dec. 31, 2021 £ / shares
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS
Allowance for doubtful accounts | $	$ 0	$ 0
Property, plant and equipment, accumulated depreciation | $	35,229	36,253
Intangible assets, net of accumulated amortization | $	$ 4,354	$ 4,051
Common stock, par value | £ / shares			£ 0.001	£ 0.001
Common stock, shares authorized | shares	1,282,773,750	1,240,853,520
Common stock, shares issued | shares	982,719,936	937,547,934
Common stock, shares outstanding | shares	982,719,936	937,547,934

UNAUDITED CONDENSED CONSOLIDA_3

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
Revenue	$ 7,007	$ 1,203	$ 16,120	$ 4,732
Operating expenses
Research and development	(33,182)	(28,211)	(104,674)	(81,585)
General and administrative	(16,815)	(15,173)	(48,169)	(42,529)
Total operating expenses	(49,997)	(43,384)	(152,843)	(124,114)
Operating loss	(42,990)	(42,181)	(136,723)	(119,382)
Interest income	324	225	1,019	916
Other (expense) income, net	1,644	(237)	1,001	(184)
Loss before income tax expense	(41,022)	(42,193)	(134,703)	(118,650)
Income tax expense	(399)	(208)	(1,503)	(582)
Net loss attributable to ordinary shareholders	$ (41,421)	$ (42,401)	$ (136,206)	$ (119,232)
Net loss per ordinary share
Basic (in dollars per share)	$ (0.04)	$ (0.05)	$ (0.14)	$ (0.13)
Diluted (in dollars per share)	$ (0.04)	$ (0.05)	$ (0.14)	$ (0.13)
Weighted average shares outstanding:
Basic (in shares)	980,791,114	936,600,648	961,354,122	933,992,708
Diluted (in shares)	980,791,114	936,600,648	961,354,122	933,992,708

UNAUDITED CONDENSED CONSOLIDA_4

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS
Net loss	$ (41,421)	$ (42,401)	$ (136,206)	$ (119,232)
Other comprehensive (loss) income, net of tax
Foreign currency translation adjustments, net of tax of $0 and $0	58,011	15,564	122,496	8,386
Foreign currency gains on intercompany loan of a long-term investment nature, net of tax of $0, and $0	(50,489)	(15,310)	(103,404)	(8,351)
Unrealized holding losses on available-for-sale debt securities, net of tax of $0, and $0	204	33	(1,267)	(85)
Total comprehensive loss for the period	$ (33,695)	$ (42,114)	$ (118,381)	$ (119,282)

UNAUDITED CONDENSED CONSOLIDA_5

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS (Parenthetical) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS
Foreign currency translation adjustments, tax	$ 0	$ 0
Foreign currency gains on intercompany loan of a long-term investment nature, tax	0	0
Unrealized holding losses on available-for-sale debt securities, tax	$ 0	$ 0

UNAUDITED CONDENSED CONSOLIDA_6

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CHANGE IN EQUITY - USD ($) $ in Thousands	Common stock	Additional paid in capital	Accumulated other comprehensive (loss) income	Accumulated deficit	Total
Balance at the beginning of the period, shares at Dec. 31, 2020	928,754,958
Balance at the beginning of the period at Dec. 31, 2020	$ 1,325	$ 935,706	$ (10,048)	$ (585,756)	$ 341,227
Increase (Decrease) in Stockholders' Equity
Net loss				(37,763)	(37,763)
Other comprehensive gain (loss)			(176)		(176)
Issuance of shares upon exercise of stock options	$ 6	529			535
Issuance of shares upon exercise of stock options (in shares)	4,062,210
Share-based compensation expense		5,334			5,334
Balance at the end of the period at Mar. 31, 2021	$ 1,331	941,569	(10,224)	(623,519)	309,157
Balance at the end of the period, shares at Mar. 31, 2021	932,817,168
Balance at the beginning of the period, shares at Dec. 31, 2020	928,754,958
Balance at the beginning of the period at Dec. 31, 2020	$ 1,325	935,706	(10,048)	(585,756)	341,227
Increase (Decrease) in Stockholders' Equity
Net loss					(119,232)
Balance at the end of the period at Sep. 30, 2021	$ 1,337	954,732	(10,098)	(704,988)	240,983
Balance at the end of the period, shares at Sep. 30, 2021	937,049,820
Balance at the beginning of the period, shares at Mar. 31, 2021	932,817,168
Balance at the beginning of the period at Mar. 31, 2021	$ 1,331	941,569	(10,224)	(623,519)	309,157
Increase (Decrease) in Stockholders' Equity
Net loss				(39,068)	(39,068)
Other comprehensive gain (loss)			(161)		(161)
Issuance of shares upon exercise of stock options	$ 1	42			43
Issuance of shares upon exercise of stock options (in shares)	350,628
Issue of shares under At The Market sales agreement, net of commission and expenses	$ 4	2,515			2,519
Issue of shares under At The Market sales agreement, net of commission and expenses (in shares)	3,069,330
Share-based compensation expense		5,449			5,449
Balance at the end of the period at Jun. 30, 2021	$ 1,336	949,575	(10,385)	(662,587)	277,939
Balance at the end of the period, shares at Jun. 30, 2021	936,237,126
Increase (Decrease) in Stockholders' Equity
Net loss				(42,401)	(42,401)
Other comprehensive gain (loss)			287		287
Issuance of shares upon exercise of stock options	$ 1	128			129
Issuance of shares upon exercise of stock options (in shares)	812,694
Issue of shares under At The Market sales agreement, net of commission and expenses		10			10
Share-based compensation expense		5,019			5,019
Balance at the end of the period at Sep. 30, 2021	$ 1,337	954,732	(10,098)	(704,988)	$ 240,983
Balance at the end of the period, shares at Sep. 30, 2021	937,049,820
Balance at the beginning of the period, shares at Dec. 31, 2021	937,547,934				937,547,934
Balance at the beginning of the period at Dec. 31, 2021	$ 1,337	959,611	(11,142)	(743,846)	$ 205,960
Increase (Decrease) in Stockholders' Equity
Net loss				(50,265)	(50,265)
Other comprehensive gain (loss)			1,829		1,829
Issuance of shares upon exercise of stock options	$ 5	30			35
Issuance of shares upon exercise of stock options (in shares)	3,318,072
Share-based compensation expense		5,586			5,586
Balance at the end of the period at Mar. 31, 2022	$ 1,342	965,227	(9,313)	(794,111)	$ 163,145
Balance at the end of the period, shares at Mar. 31, 2022	940,866,006
Balance at the beginning of the period, shares at Dec. 31, 2021	937,547,934				937,547,934
Balance at the beginning of the period at Dec. 31, 2021	$ 1,337	959,611	(11,142)	(743,846)	$ 205,960
Increase (Decrease) in Stockholders' Equity
Net loss					(136,206)
Balance at the end of the period at Sep. 30, 2022	$ 1,394	985,312	6,683	(880,052)	$ 113,337
Balance at the end of the period, shares at Sep. 30, 2022	982,719,936				982,719,936
Balance at the beginning of the period, shares at Mar. 31, 2022	940,866,006
Balance at the beginning of the period at Mar. 31, 2022	$ 1,342	965,227	(9,313)	(794,111)	$ 163,145
Increase (Decrease) in Stockholders' Equity
Net loss				(44,520)	(44,520)
Other comprehensive gain (loss)			8,270		8,270
Issuance of shares upon exercise of stock options	$ 1				1
Issuance of shares upon exercise of stock options (in shares)	759,336
Issue of shares under At The Market sales agreement, net of commission and expenses	$ 44	9,932			9,976
Issue of shares under At The Market sales agreement, net of commission and expenses (in shares)	35,134,182
Share-based compensation expense		5,045			5,045
Balance at the end of the period at Jun. 30, 2022	$ 1,387	980,204	(1,043)	(838,631)	141,917
Balance at the end of the period, shares at Jun. 30, 2022	976,759,524
Increase (Decrease) in Stockholders' Equity
Net loss				(41,421)	(41,421)
Other comprehensive gain (loss)			7,726		7,726
Issuance of shares upon exercise of stock options	$ 1	5			6
Issuance of shares upon exercise of stock options (in shares)	1,005,558
Issue of shares under At The Market sales agreement, net of commission and expenses	$ 6	1,440			1,446
Issue of shares under At The Market sales agreement, net of commission and expenses (in shares)	4,954,854
Share-based compensation expense		3,663			3,663
Balance at the end of the period at Sep. 30, 2022	$ 1,394	$ 985,312	$ 6,683	$ (880,052)	$ 113,337
Balance at the end of the period, shares at Sep. 30, 2022	982,719,936				982,719,936

UNAUDITED CONDENSED CONSOLIDA_7

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended		12 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Cash flows from operating activities
Net loss	$ (136,206)	$ (119,232)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation	4,009	4,333
Amortization	629
Share-based compensation expense	14,294	15,802
Unrealized foreign exchange gains	(2,501)	(213)
Amortization on available-for-sale debt securities	2,165	4,094
Other	765	2,239
Changes in operating assets and liabilities:
Increase in receivables and other operating assets	(29,778)	(31,809)
Increase/(decrease) in payables and other current liabilities	15,200	(109)
(Decrease)/increase in deferred revenue	(12,388)	1,696	$ 46,567
Net cash used in operating activities	(143,811)	(123,199)
Cash flows from investing activities
Acquisition of property, plant and equipment	(26,081)	(4,558)
Acquisition of intangibles assets	(231)	(181)
Maturity or redemption of marketable securities	136,694	190,393
Investment in marketable securities	(42,197)	(81,363)
Net cash provided by investing activities	68,185	104,291
Cash flows from financing activities
Proceeds from issuance of common stock from offerings, net of commissions and issuance costs	11,422	2,529
Proceeds from exercise of stock options	42	707
Net cash provided by financing activities	11,464	3,236
Effect of currency exchange rate changes on cash, cash equivalents and restricted cash	(6,791)	(1,177)
Net decrease in cash, cash equivalents and restricted cash	(70,953)	(16,849)
Cash, cash equivalents and restricted cash at start of period	151,666	61,484	61,484
Cash, cash equivalents and restricted cash at end of period	$ 80,713	$ 44,635	$ 151,666

General

General	9 Months Ended
	Sep. 30, 2022
General
General	Note 1 — General Adaptimmune Therapeutics plc is registered in England and Wales. Its registered office is 60 Jubilee Avenue, Milton Park, Abingdon, Oxfordshire, OX14 4RX, United Kingdom. Adaptimmune Therapeutics plc and its subsidiaries (collectively “Adaptimmune” or the “Company”) is a clinical-stage biopharmaceutical company primarily focused on providing novel cell therapies to people with cancer. We are a leader in the development of T-cell therapies for solid tumors. The Company’s proprietary platform enables it to identify cancer targets, find and develop cell therapy candidates active against those targets and produce therapeutic candidates for administration to patients. The Company is subject to a number of risks similar to other biopharmaceutical companies in the early stage of clinical development including, but not limited to, the need to obtain adequate additional funding, possible failure of preclinical programs or clinical programs, the need to obtain marketing approval for its cell therapies, competitors developing new technological innovations, the need to successfully commercialize and gain market acceptance of its cell therapies, the need to develop a reliable commercial manufacturing process, the need to commercialize any cell therapies that may be approved for marketing, and protection of proprietary technology. If the Company does not successfully commercialize any of its cell therapies, it will be unable to generate product revenue or achieve profitability. The Company had an accumulated deficit of $880,052,000 as of September 30, 2022.

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2022
Summary of Significant Accounting Policies
Summary of Significant Accounting Policies	Note 2 — Summary of Significant Accounting Policies (a) Basis of presentation The condensed consolidated financial statements of Adaptimmune Therapeutics plc and its subsidiaries and other financial information included in this Quarterly Report are unaudited and have been prepared in accordance with generally accepted accounting principles in the United States of America (“U.S. GAAP”) and are presented in U.S. dollars. All significant intercompany accounts and transactions between the Company and its subsidiaries have been eliminated on consolidation. The unaudited condensed consolidated financial statements presented in this Quarterly Report should be read in conjunction with the consolidated financial statements and accompanying notes included in the Company’s Annual Report on Form 10-K filed with the SEC on March 14, 2022 (the “Annual Report”). The balance sheet as of December 31, 2021 was derived from audited consolidated financial statements included in the Company’s Annual Report but does not include all disclosures required by U.S. GAAP. The Company’s significant accounting policies are described in Note 2 to those consolidated financial statements. Certain information and footnote disclosures normally included in financial statements prepared in accordance with U.S. GAAP have been condensed or omitted from these interim financial statements. However, these interim financial statements include all adjustments, consisting only of normal recurring adjustments, which are, in the opinion of management, necessary to fairly state the results of the interim period. The interim results are not necessarily indicative of results to be expected for the full year. (b) Use of estimates in interim financial statements The preparation of interim financial statements, in conformity with U.S. GAAP and SEC regulations, requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the interim financial statements and reported amounts of revenues and expenses during the reporting period. Estimates and assumptions are made in various areas, including in relation to valuation allowances relating to deferred tax assets, revenue recognition, and estimation of the incremental borrowing rate for operating leases. If actual results differ from the Company’s estimates, or to the extent these estimates are adjusted in future periods, the Company’s results of operations could either benefit from, or be adversely affected by, any such change in estimate. (c) Fair value measurements The Company is required to disclose information on all assets and liabilities reported at fair value that enables an assessment of the inputs used in determining the reported fair values. The fair value hierarchy prioritizes valuation inputs based on the observable nature of those inputs. The hierarchy defines three levels of valuation inputs: Level 1 - Quoted prices in active markets for identical assets or liabilities Level 2 - Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly Level 3 - Unobservable inputs that reflect the Company's own assumptions about the assumptions market participants would use in pricing the asset or liability The carrying amounts of the Company’s cash and cash equivalents, restricted cash, accounts receivable, accounts payable and accrued expenses approximate fair value because of the short-term nature of these instruments. The fair value of marketable securities, which are measured at fair value on a recurring basis is detailed in Note 6, Fair value measurements. (d ) Significant concentrations of credit risk The Company held cash and cash equivalents of $79,001,000, marketable securities of $120,669,000 and restricted cash of $1,712,000 as of September 30, 2022. The cash and cash equivalents and restricted cash are held with multiple banks and the Company monitors the credit rating of those banks. The Company maintains cash balances in excess of amounts insured by the Federal Deposit Insurance Corporation in the United States and the U.K. Government Financial Services Compensation Scheme in the United Kingdom. The Company’s investment policy limits investments to certain types of instruments, such as money market instruments, corporate debt securities and commercial paper, places restrictions on maturities and concentration by type and issuer and specifies the minimum credit ratings for all investments and the average credit quality of the portfolio. The Company has three customers, which are Genentech, Astellas and GSK. There were accounts receivable of $1,774,000 as of September 30, 2022 and $752,000 as of December 31, 2021. The Company has been transacting with Genentech since 2021, Astellas since 2020 and GSK since 2014, during which time no impairment losses have been recognized. As of September 30, 2022, there were no overdue accounts receivable. (e) New accounting pronouncements To be adopted in future periods Measurement of credit losses on financial instruments In June 2016, the FASB issued ASU 2016-13 - Financial Instruments - Credit losses, which replaces the incurred loss impairment methodology for financial instruments in current GAAP with a methodology that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information to inform credit loss estimates. The guidance is effective for the fiscal year beginning January 1, 2020, including interim periods within that fiscal year. In November 2019, the FASB issued ASU 2019-10 which resulted in the postponement of the effective date of the new guidance for eligible smaller reporting companies (as defined by the SEC), including the Company, at that time to the fiscal year beginning January 1, 2023. The Company intends to adopt the guidance in the fiscal year beginning January 1, 2023. The guidance must be adopted using a modified-retrospective approach and a prospective transition approach is required for debt securities for which an other-than-temporary impairment had been recognized before the effective date. The Company is currently evaluating the impact of the guidance on its consolidated financial statements. Accounting for Contract Assets and Contract Liabilities from Contracts with Customers ​ and (2) payment terms and their effect on subsequent revenue recognized by the acquirer. The amendments in this ASU resolve this inconsistency by requiring that an entity (acquirer) recognize and measure contract assets and liabilities acquired in a business combination in accordance with Topic 606, in contrast to current GAAP which requires that assets acquired and liabilities assumed in a business combination, including contract assets and contract liabilities, are measured at fair value as of the acquisition date. For public business entities, including the Company, the guidance is effective for fiscal years beginning on or after December 15, 2022, including interim periods within that fiscal year. The Company intends to adopt the guidance in the fiscal year beginning January 1, 2023. The amendments in this ASU should be applied prospectively to business combinations occurring on or after the effective date of the amendments. The Company is currently evaluating the impact of the guidance on its consolidated financial statements. ​

Revenue

Revenue	9 Months Ended
	Sep. 30, 2022
Revenue
Revenue	Note 3 — Revenue The Company had three revenue-generating contracts with customers in the three and nine months ended September 30, 2022 compared to two in the three and nine months ended September 30, 2021: a collaboration and license agreement with GSK, a collaboration agreement with Astellas and a strategic collaboration and license agreement with Genentech. Revenue comprises the following categories (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended Nine months ended ​ September 30, ​ September 30, ​ 2022 2021 ​ 2022 2021 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Development revenue $ 7,007 $ 1,203 ​ $ 16,120 $ 4,732 ​ $ 7,007 $ 1,203 ​ $ 16,120 $ 4,732 ​ Deferred revenue decreased by $46,567,000 from $199,422,000 at December 31, 2021 to $152,855,000 at September 30, 2022 primarily due to a $35,693,000 decrease caused by the change in the exchange rate between pound sterling and the U.S. dollar from £1.00 to $1.35 at December 31, 2021 to £1.00 to $1.11 at September 30, 2022. ​ As of December 31, 2021, there was deferred revenue of $199,422,000 of which $13,038,000 was recognized as revenue in the nine months ended September 30, 2022. ​ The aggregate amount of the transaction price that is allocated to performance obligations that are unsatisfied or partially satisfied under the agreements as of September 30, 2022 was $326,545,000. The Genentech Collaboration and License Agreement The amount of the transaction price that is allocated to performance obligations that are unsatisfied or partially satisfied under the Genentech agreement as of September 30, 2022 was $276,396,000. Of this amount $170,265,000 is allocated to the research services and rights granted for the initial ‘off-the-shelf’ collaboration targets, $88,016,000 is allocated to the research services and rights granted for the personalized therapies, $12,228,000 is allocated to the material rights to designate the additional ‘off-the-shelf’ collaboration targets, $4,710,000 is allocated to the material right for the first option to extend the research term and $1,177,000 is allocated to the material right for the option to extend the research term a second time. The Company expects to satisfy the performance obligations relating to the initial ‘off-the-shelf’ collaboration targets and the personalized therapies as development progresses and recognizes revenue based on an estimate of the percentage of completion of the project determined based on the costs incurred on the project as a percentage of the total expected costs. The Company expects to satisfy the performance obligations relating to the material rights to designate additional ‘off-the-shelf’ collaboration targets from the point that the options are exercised and then as development progresses, in line with the initial ‘off-the-shelf’ collaboration targets, or at the point in time that the rights expire. The Company expects to satisfy the performance obligations relating to the material rights to extend the research term from the point that the options are exercised and then over period of the extension, or at the point in time that the rights expire. ​ The Astellas Collaboration Agreement The amount of the transaction price that is allocated to performance obligations that are unsatisfied or partially satisfied under the Astellas agreement as of September 30, 2022 was $49,818,000, of which $12,337,000 is allocated to the rights granted for each of the two independent Astellas targets, $6,670,000 is allocated to research services and rights granted under the co-exclusive license for the first co-development target, $12,518,000 is allocated to research services and rights granted under the co-exclusive license for the second co-development target and $5,956,000 is allocated to research services and rights under the co-exclusive license for the third co-development targets. The Company expects to satisfy the performance obligations relating to the three co-development targets as development progresses and recognizes revenue based on an estimate of the percentage of completion of the project determined based on the costs incurred on the project as a percentage of the total expected costs. The Company has determined that the performance obligations relating to the two independent Astellas targets would be recognized at a point-in-time, upon commencement of the licenses in the event of nomination of the target, since they are right-to-use licenses. The GSK Collaboration and License Agreement The amount of the transaction price that is allocated to performance obligations that are unsatisfied or partially satisfied under the GSK agreement as of September 30, 2022 was $330,000 . The Company satisfies the performance obligations relating to the development of each target over time and recognizes revenue based on an estimate of the percentage of completion of the project determined based on the costs incurred on the project as a percentage of the total expected costs. Future research, development, regulatory and sales milestones under each of the agreements are not considered probable as of September 30, 2022 and have not been included in the transaction price. Reimbursement of the research funding over the co-development period under the Astellas agreement is variable consideration and included in the transaction price as of September 30, 2022 to the extent that it is probable that a significant reversal in the amount of cumulative revenue recognized will not occur. On October 24, 2022, the Company received notice of termination of the Collaboration and License Agreement, effective 60 days following the receipt of the notice of termination. As the terms of the transfer and related agreement are being negotiated, an estimate of the financial effect of this event cannot yet be made

Loss per share

Loss per share	9 Months Ended
	Sep. 30, 2022
Loss per share
Loss per share	Note 4 — Loss per share The following table reconciles the numerator and denominator in the basic and diluted loss per share computation (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended ​ Nine months ended ​ ​ September 30, ​ September 30, ​ 2022 2021 2022 2021 Numerator for basic and diluted loss per share ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net loss attributable to ordinary shareholders $ (41,421) $ (42,401) $ (136,206) $ (119,232) Net loss attributable to ordinary shareholders used for basic and diluted loss per share ​ $ (41,421) ​ $ (42,401) ​ $ (136,206) ​ $ (119,232) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended ​ Nine months ended ​ ​ September 30, ​ September 30, ​ 2022 2021 2022 2021 Denominator for basic and diluted loss per share - Weighted average shares outstanding 980,791,114 936,600,648 961,354,122 933,992,708 ​ ​ The dilutive effect of 152,427,845 and 115,924,296 stock options outstanding as of September 30, 2022 and 2021 respectively have been excluded from the diluted loss per share calculation for the three and nine months ended September 30, 2022 and 2021 because they would have an antidilutive effect on the loss per share for the period.

Accumulated other comprehensive

Accumulated other comprehensive loss	9 Months Ended
	Sep. 30, 2022
Accumulated other comprehensive loss.
Accumulated other comprehensive loss	Note 5 — Accumulated other comprehensive loss The Company reports foreign currency translation adjustments and the foreign exchange gain or losses arising on the revaluation of intercompany loans of a long-term investment nature within Other comprehensive (loss) income. Unrealized gains and losses on available-for-sale debt securities are also reported within Other comprehensive (loss) income until a gain or loss is realized, at which point they are reclassified to Other (expense) income, net in the Condensed Consolidated Statement of Operations. The following tables show the changes in Accumulated other comprehensive (loss) income (in thousands): ​ The following tables show the changes in Accumulated other comprehensive (loss) income (in thousands):The Company reports foreign currency translation adjustments and the foreign exchange gain or losses arising on the revaluation of intercompany loans of a long-term investment nature within Other comprehensive (loss) income. Unrealized gains and losses on available-for-sale debt securities are also reported within Other comprehensive (loss) income until a gain or loss is realized, at which point they are reclassified to Other (expense) income, net in the Condensed Consolidated Statement of Operations.The following tables show the changes in Accumulated other comprehensive (loss) income (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Accumulated ​ Accumulated ​ ​ Total ​ ​ foreign ​ unrealized ​ ​ accumulated ​ ​ currency ​ gains (losses) on ​ ​ other ​ translation available-for-sale ​ ​ comprehensive ​ ​ adjustments ​ debt securities ​ ​ (loss) income ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance at January 1, 2022 $ (10,785) ​ $ (357) ​ $ (11,142) Foreign currency translation adjustments ​ ​ 16,792 ​ ​ — ​ ​ 16,792 Foreign currency losses on intercompany loan of a long-term investment nature, net of tax of $0 ​ ​ (13,808) ​ ​ — ​ ​ (13,808) Unrealized holding losses on available-for-sale debt securities, net of tax of $0 ​ ​ — ​ ​ (1,155) ​ ​ (1,155) Balance at March 31, 2022 ​ ​ (7,801) ​ ​ (1,512) ​ ​ (9,313) Foreign currency translation adjustments ​ ​ 47,694 ​ ​ — ​ ​ 47,694 Foreign currency losses on intercompany loan of a long-term investment nature, net of tax of $0 ​ ​ (39,108) ​ ​ — ​ ​ (39,108) Unrealized holding losses on available-for-sale debt securities, net of tax of $0 ​ ​ — ​ ​ (316) ​ ​ (316) Balance at June 30, 2022 ​ ​ 785 ​ ​ (1,828) ​ ​ (1,043) Foreign currency translation adjustments ​ ​ 58,011 ​ ​ — ​ ​ 58,011 Foreign currency losses on intercompany loan of a long-term investment nature, net of tax of $0 ​ ​ (50,489) ​ ​ — ​ ​ (50,489) Unrealized holding gains on available-for-sale debt securities, net of tax of $0 ​ ​ — ​ ​ 204 ​ ​ 204 Balance at September 30, 2022 ​ $ 8,307 ​ $ (1,624) ​ $ 6,683 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Accumulated ​ Accumulated ​ Total ​ ​ foreign ​ unrealized ​ accumulated ​ ​ currency ​ gains (losses) on ​ other ​ translation available-for-sale ​ comprehensive ​ ​ adjustments ​ debt securities ​ (loss) income ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance at January 1, 2021 $ (10,158) ​ $ 110 ​ $ (10,048) Foreign currency translation adjustments ​ ​ (3,001) ​ ​ — ​ ​ (3,001) Foreign currency gains on intercompany loan of a long-term investment nature, net of tax of $0 ​ ​ 3,048 ​ ​ — ​ ​ 3,048 Unrealized holding losses on available-for-sale debt securities, net of tax of $0 ​ ​ — ​ ​ (223) ​ ​ (223) Balance at March 31, 2021 ​ ​ (10,111) ​ ​ (113) ​ ​ (10,224) Foreign currency translation adjustments ​ ​ (4,177) ​ ​ — ​ ​ (4,177) Foreign currency gains on intercompany loan of a long-term investment nature, net of tax of $0 ​ ​ 3,911 ​ ​ — ​ ​ 3,911 Unrealized holding gains on available-for-sale debt securities, net of tax of $0 ​ ​ — ​ ​ 105 ​ ​ 105 Balance at June 30, 2021 ​ $ (10,377) ​ $ (8) ​ $ (10,385) Foreign currency translation adjustments ​ ​ 15,564 ​ ​ — ​ ​ 15,564 Foreign currency losses on intercompany loan of a long-term investment nature, net of tax of $0 ​ ​ (15,310) ​ ​ — ​ ​ (15,310) Unrealized holding gains on available-for-sale debt securities, net of tax of $0 ​ ​ — ​ ​ 33 ​ ​ 33 Balance at September 30, 2021 ​ $ (10,123) ​ $ 25 ​ $ (10,098) ​

Fair value measurements

Fair value measurements	9 Months Ended
	Sep. 30, 2022
Fair value measurements
Fair value measurements	Note 6 — Fair value measurements Assets and liabilities measured at fair value on a recurring basis based on Level 1, Level 2, and Level 3 fair value measurement criteria as of September 30, 2022 are as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair value measurements using ​ ​ September 30, ​ Level 1 ​ Level 2 ​ Level 3 ​ 2022 ​ ​ ​ ​ ​ ​ Assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Corporate debt securities ​ $ 97,771 ​ $ 97,771 ​ $ — ​ $ — U.S. Treasury securities ​ ​ 18,066 ​ ​ — ​ ​ 18,066 ​ ​ — Agency bonds ​ 4,832 ​ ​ — ​ ​ 4,832 ​ ​ — ​ $ 120,669 ​ $ 97,771 $ 22,898 $ — ​ The Company estimates the fair value of available-for-sale debt securities with the aid of a third party valuation service, which uses actual trade and indicative prices sourced from third-party providers on a daily basis to estimate the fair value. If observed market prices are not available (for example securities with short maturities and infrequent secondary market trades), the securities are priced using a valuation model maximizing observable inputs, including market interest rates.

Marketable securities - availab

Marketable securities - available-for-sale debt securities	9 Months Ended
	Sep. 30, 2022
Marketable securities - available-for-sale debt securities
Marketable securities - available-for-sale debt securities	Note 7 — Marketable securities – available-for-sale debt securities As of September 30, 2022, the Company has the following investments in marketable securities (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gross ​ Gross ​ Aggregate ​ ​ Remaining ​ Amortized ​ unrealized ​ unrealized ​ estimated ​ contractual maturity cost gains losses fair value Available-for-sale debt securities: ​ ​ ​ ​ Corporate debt securities Less than 3 months ​ $ 12,410 ​ $ — ​ $ (43) ​ $ 12,367 U.S. Treasury securities ​ Less than 3 months ​ ​ 18,117 ​ ​ — ​ ​ (51) ​ ​ 18,066 Agency bonds ​ 3 months to 1 year ​ ​ 5,000 ​ ​ — ​ ​ (168) ​ ​ 4,832 Corporate debt securities ​ 3 months to 1 year ​ ​ 84,319 ​ ​ — ​ ​ (1,277) ​ ​ 83,042 Corporate debt securities ​ 1 year to 2 years ​ ​ 2,447 ​ ​ — ​ ​ (85) ​ ​ 2,362 ​ ​ $ 122,293 ​ $ — ​ $ (1,624) ​ $ 120,669 ​ The aggregate fair value (in thousands) and number of securities held by the Company (including those classified as cash equivalents) in an unrealized loss position as of September 30, 2022 and December 31, 2021 are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, 2022 ​ December 31, 2021 ​ Fair market value of investments in an unrealized loss position ​ Number of investments in an unrealized loss position ​ Unrealized losses ​ Fair market value of investments in an unrealized loss position ​ Number of investments in an unrealized loss position ​ Unrealized losses Marketable securities in a continuous loss position for 12 months or longer: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Corporate debt securities ​ $ 34,519 ​ ​ 6 ​ $ (393) ​ $ 8,232 ​ ​ 1 ​ ​ (35) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Marketable securities in a continuous loss position for less than 12 months: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Corporate debt securities $ 63,252 ​ 14 ​ $ (1,012) $ 163,258 ​ 34 $ (348) U.S. Treasury securities ​ 18,066 ​ 3 ​ (51) ​ — ​ — ​ — Agency bond ​ ​ 4,832 ​ ​ 1 ​ ​ (168) ​ ​ 4,993 ​ ​ 1 ​ ​ (7) ​ $ 120,669 ​ 24 ​ $ (1,624) $ 176,483 ​ 36 $ (390) ​ As of September 30, 2022, the securities in an unrealized loss position are not considered to be other than temporarily impaired because the impairments are not severe and have been for a short duration. Six securities have been in an unrealized loss position for more than one year with a net total unrealized loss of $393,000. Furthermore, the Company does not intend to sell the debt securities in an unrealized loss position, believes that it has the ability to hold the debt securities to maturity, and it is currently unlikely that the Company will be required to sell these securities before the recovery of the amortized cost.

Other current assets

Other current assets	9 Months Ended
	Sep. 30, 2022
Other current assets
Other current assets	Note 8 — Other current assets Other current assets consisted of the following (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, ​ December 31, ​ 2022 2021 Corporate tax receivable $ 48,543 ​ $ 30,773 Prepayments ​ 8,052 ​ ​ 9,043 Clinical materials ​ 1,171 ​ ​ 746 VAT receivable ​ ​ 3,217 ​ ​ 2,482 Other current assets ​ 1,712 ​ ​ 2,082 ​ ​ $ 62,695 ​ $ 45,126 ​

Operating Leases

Operating Leases	9 Months Ended
	Sep. 30, 2022
Operating leases
Operating leases	Note 9 — Operating leases The Company has operating leases in relation to property for office and research facilities . On March 30, 2022, the Company entered into an agreement to modify the lease of 39 Innovation Drive, Milton Park, Abingdon, Oxfordshire, UK, and on June 15, 2022, the deeds associated with the modification were signed. However, for purposes of ASC 842 Leases, Upon modification, the lease liability has been remeasured using the current estimate of the Company’s incremental borrowing rate. The remeasurement of the lease liability also resulted in variable lease payments not previously included in the amount of the lease liability becoming included in the amount of the lease payments as at the date of the modification. The amount of the remeasurement of the lease liability due to the inclusion of variable lease payments that depend on an index or rate has been recognized as an adjustment to the corresponding right-of-use asset. The effect of the modification was to increase the lease liability and the corresponding right-of-use asset by $75,000. The following table shows the weighted-average remaining lease term and the weighted-average discount rate as at September 30, 2022 and 2021: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, ​ ​ ​ 2022 ​ 2021 ​ ​ ​ ​ ​ ​ ​ ​ Weighted-average remaining lease term - operating leases ​ ​ 7.0 years ​ 8.0 years Weighted-average discount rate - operating leases ​ ​ 6.8% ​ 6.8% ​ The maturities of operating lease liabilities as of September 30, 2022 are as follows (in thousands): ​ ​ ​ ​ ​ ​ Operating leases ​ ​ ​ 2022 $ 1,010 2023 ​ 3,833 2024 ​ 3,782 2025 ​ 3,829 2026 ​ 3,883 after 2026 ​ 12,004 Total lease payments ​ ​ 28,341 Less: imputed interest ​ ​ (5,941) Present value of lease liability ​ $ 22,400 ​ The maximum lease term without activation of termination options is to 2041.

Accrued expenses and other curr

Accrued expenses and other current liabilities	9 Months Ended
	Sep. 30, 2022
Accrued expenses and other current liabilities
Accrued expenses and other current liabilities	Note 10 — Accrued expenses and other current liabilities Accrued expenses and other current liabilities consisted of the following (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, ​ December 31, ​ 2022 2021 Accrued clinical and development expenditure ​ $ 19,526 ​ $ 13,436 Accrued employee expenses ​ ​ 10,356 ​ ​ 11,758 Other accrued expenditure ​ ​ 5,067 ​ ​ 4,388 Other ​ 1,130 ​ 327 ​ ​ $ 36,079 ​ $ 29,909 ​

Contingencies and commitments

Contingencies and commitments	9 Months Ended
	Sep. 30, 2022
Contingencies and commitments
Contingencies and commitments	​ ​ Note 11 — Contingencies and commitments Alpine Collaboration Agreement On May 14, 2019, the Company entered into a Collaboration Agreement relating to the development of next-generation SPEAR T-cell products with Alpine. The Company paid an upfront exclusive license option fee of $2,000,000 to Alpine in June 2019. Under the agreement, Adaptimmune will pay Alpine for ongoing research and development funding costs and development and commercialization milestone payments up to a maximum of $288,000,000 may be payable if all possible targets are selected and milestones achieved. The upfront payment of $2,000,000 and the payments for ongoing research was recognized within Research and development in the Consolidated Statement of Operations for the year ended December 31, 2019. A further payment of $1,000,000 was paid and recognized within Research and development in the Consolidated Statement of Operations for the nine months ended September 30, 2022. Alpine would also receive low single-digit royalties on worldwide net sales of applicable products. Universal Cells Research, Collaboration and License Agreement and Co-development and Co-commercialization agreement On November 25, 2015, the Company entered into a Research, Collaboration and License Agreement relating to gene editing and Human Leukocyte Antigen (“HLA”) engineering technology with Universal Cells, Inc. (“Universal Cells”). The Company paid an upfront license and start-up fee of $2,500,000 to Universal Cells in November 2015, a milestone payment of $3,000,000 in February 2016 and further milestone payments of $200,000 and $900,000 were made in the years ended December 31, 2018 and 2017, respectively. The agreement was amended and re-stated as of January 13, 2020, primarily to reflect changes to the development plan agreed between the parties. The agreement was further amended as of July 22, 2022, primarily to make certain changes to development milestones and to agree on the status thereof, as agreed between the parties. Following the amendment, a milestone payment of $500,000 was made in the nine months ended 30 September 2022. Further milestone payments of up to $35,300,000 are payable if certain development and product milestones are achieved of which a milestone of $1,800,000 has been accrued but not paid as of September 30, 2022, and milestones of $600,000 and $400,000 have been invoiced, but not yet paid, as of September 30, 2022. Universal Cells would also receive a profit-share payment for the first product, and royalties on sales of other products utilizing its technology. The upfront license and start-up fee and milestone payments were expensed to Research and development when incurred. ​ MD Anderson Strategic Alliance On September 26, 2016, the Company announced that it had entered into a multi-year strategic alliance with The University of Texas MD Anderson Cancer Center (“MD Anderson”) designed to expedite the development of T-cell therapies for multiple types of cancer. The Company and MD Anderson are collaborating on a number of studies including clinical and preclinical development of the Company’s SPEAR T-cell therapies and will collaborate on future clinical stage first and second generation SPEAR T-cell therapies across a number of cancers. Under the terms of the agreement, the Company committed at least $19,644,000 to fund studies. Payment of this funding is contingent on mutual agreement to study orders in order for any study to be included under the alliance and the performance of set milestones by MD Anderson. The Company made an upfront payment of $3,412,000 to MD Anderson in the year ended December 31, 2017 and milestone payments of $2,326,000, $3,549,000 and $454,000 in the years ended December 31, 2018, 2020, and 2021, respectively. A further milestone of $2,326,000 was met and paid in the nine months ended September 30, 2022. The Company is obligated to make further payments to MD Anderson as certain milestones are achieved. These costs are expensed to research and development as MD Anderson renders the services under the strategic alliance. The agreement may be terminated by either party for material breach by the other party. Individual studies may be terminated for, amongst other things, material breach, health and safety concerns or where the institutional review board, the review board at the clinical site with oversight of the clinical study, requests termination of any study. Where any legal or regulatory authorization is finally withdrawn or terminated, the relevant study will also terminate automatically.

Share-based compensation

Share-based compensation	9 Months Ended
	Sep. 30, 2022
Share-based compensation
Share-based compensation	Note 12 — Share-based compensation The following table shows the total share-based compensation expense included in the unaudited consolidated statements of operations (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended ​ Nine months ended ​ ​ ​ September 30, ​ September 30, ​ 2022 2021 2022 2021 Research and development ​ $ 447 ​ $ 2,177 ​ $ 5,003 ​ $ 7,064 General and administrative ​ 3,216 ​ 2,842 ​ 9,291 ​ ​ 8,738 ​ ​ $ 3,663 ​ $ 5,019 ​ $ 14,294 ​ $ 15,802 ​ The following table shows information about share options and options which have a nominal exercise price (similar to restricted stock units (RSUs)) granted: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended ​ Nine months ended ​ ​ ​ September 30, ​ September 30, ​ ​ 2022 2021 2022 2021 Number of options over ordinary shares granted ​ ​ 5,996,581 ​ ​ 4,170,230 ​ ​ 30,608,533 ​ ​ 19,891,334 Weighted average fair value of ordinary shares options ​ $ 0.21 ​ $ 0.51 ​ $ 0.37 ​ $ 0.70 Number of additional options with a nominal exercise price granted ​ ​ 1,866,216 ​ ​ 1,348,920 ​ ​ 22,916,376 ​ ​ 16,008,168 Weighted average fair value of options with a nominal exercise price ​ $ 0.28 ​ $ 0.70 ​ $ 0.53 ​ $ 0.98 ​

Stockholders' equity

Stockholders' equity	9 Months Ended
	Sep. 30, 2022
Stockholders' equity
Stockholders' equity	​ Note 13 — Stockholders’ equity On August 10, 2020 the Company entered into a sales agreement with Cowen and Company, LLC (“Cowen”) (the “Sales Agreement”) under which we may from time to time issue and sell American Depositary Shares (“ADSs”) representing our ordinary shares through Cowen in at-the-market (“ATM”) offerings for an aggregate offering price of up to $200 million. As of September 30, 2022, $197,360,000 remained available for sale under the Sales Agreement. On April 8, 2022 the Company entered into a new sales agreement with Cowen (the “2022 Sales Agreement”) under which we may from time to time issue and sell ADSs representing our ordinary shares through Cowen in ATM offerings for an aggregate offering price of up to $200 million. In the nine months ended September 30, 2022, the Company sold 6,681,506 ADSs under the agreement representing 40,089,036 ordinary shares resulting in net proceeds to the Company of $11,413,652 after deducting commissions payable under the 2022 Sales Agreement and estimated issuance costs. As of September 30, 2022, approximately $188,149,700 remained available for sale under the 2022 Sales Agreement. ​ ​

Subsequent event

Subsequent event	9 Months Ended
	Sep. 30, 2022
Subsequent events
Subsequent events	Note 14 – Subsequent events ​ ​ On November 8, 2022, the Company announced that in order to extend the Company’s cash runway from early 2024 into early 2025, it is re-focusing the business on core programs and deprioritizing non-core programs. It is also undertaking a restructuring of the Company including a headcount reduction of approximately 25% to 30% to be completed in the first quarter of 2023. ​

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2022
Summary of Significant Accounting Policies
Basis of presentation	(a) Basis of presentation The condensed consolidated financial statements of Adaptimmune Therapeutics plc and its subsidiaries and other financial information included in this Quarterly Report are unaudited and have been prepared in accordance with generally accepted accounting principles in the United States of America (“U.S. GAAP”) and are presented in U.S. dollars. All significant intercompany accounts and transactions between the Company and its subsidiaries have been eliminated on consolidation. The unaudited condensed consolidated financial statements presented in this Quarterly Report should be read in conjunction with the consolidated financial statements and accompanying notes included in the Company’s Annual Report on Form 10-K filed with the SEC on March 14, 2022 (the “Annual Report”). The balance sheet as of December 31, 2021 was derived from audited consolidated financial statements included in the Company’s Annual Report but does not include all disclosures required by U.S. GAAP. The Company’s significant accounting policies are described in Note 2 to those consolidated financial statements. Certain information and footnote disclosures normally included in financial statements prepared in accordance with U.S. GAAP have been condensed or omitted from these interim financial statements. However, these interim financial statements include all adjustments, consisting only of normal recurring adjustments, which are, in the opinion of management, necessary to fairly state the results of the interim period. The interim results are not necessarily indicative of results to be expected for the full year.
Use of estimates in interim financial statements	(b) Use of estimates in interim financial statements The preparation of interim financial statements, in conformity with U.S. GAAP and SEC regulations, requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the interim financial statements and reported amounts of revenues and expenses during the reporting period. Estimates and assumptions are made in various areas, including in relation to valuation allowances relating to deferred tax assets, revenue recognition, and estimation of the incremental borrowing rate for operating leases. If actual results differ from the Company’s estimates, or to the extent these estimates are adjusted in future periods, the Company’s results of operations could either benefit from, or be adversely affected by, any such change in estimate.
Fair value measurements	(c) Fair value measurements The Company is required to disclose information on all assets and liabilities reported at fair value that enables an assessment of the inputs used in determining the reported fair values. The fair value hierarchy prioritizes valuation inputs based on the observable nature of those inputs. The hierarchy defines three levels of valuation inputs: Level 1 - Quoted prices in active markets for identical assets or liabilities Level 2 - Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly Level 3 - Unobservable inputs that reflect the Company's own assumptions about the assumptions market participants would use in pricing the asset or liability The carrying amounts of the Company’s cash and cash equivalents, restricted cash, accounts receivable, accounts payable and accrued expenses approximate fair value because of the short-term nature of these instruments. The fair value of marketable securities, which are measured at fair value on a recurring basis is detailed in Note 6, Fair value measurements.
Significant concentrations of credit risk	(d ) Significant concentrations of credit risk The Company held cash and cash equivalents of $79,001,000, marketable securities of $120,669,000 and restricted cash of $1,712,000 as of September 30, 2022. The cash and cash equivalents and restricted cash are held with multiple banks and the Company monitors the credit rating of those banks. The Company maintains cash balances in excess of amounts insured by the Federal Deposit Insurance Corporation in the United States and the U.K. Government Financial Services Compensation Scheme in the United Kingdom. The Company’s investment policy limits investments to certain types of instruments, such as money market instruments, corporate debt securities and commercial paper, places restrictions on maturities and concentration by type and issuer and specifies the minimum credit ratings for all investments and the average credit quality of the portfolio. The Company has three customers, which are Genentech, Astellas and GSK. There were accounts receivable of $1,774,000 as of September 30, 2022 and $752,000 as of December 31, 2021. The Company has been transacting with Genentech since 2021, Astellas since 2020 and GSK since 2014, during which time no impairment losses have been recognized. As of September 30, 2022, there were no overdue accounts receivable.
New accounting pronouncements	(d ) Significant concentrations of credit risk The Company held cash and cash equivalents of $79,001,000, marketable securities of $120,669,000 and restricted cash of $1,712,000 as of September 30, 2022. The cash and cash equivalents and restricted cash are held with multiple banks and the Company monitors the credit rating of those banks. The Company maintains cash balances in excess of amounts insured by the Federal Deposit Insurance Corporation in the United States and the U.K. Government Financial Services Compensation Scheme in the United Kingdom. The Company’s investment policy limits investments to certain types of instruments, such as money market instruments, corporate debt securities and commercial paper, places restrictions on maturities and concentration by type and issuer and specifies the minimum credit ratings for all investments and the average credit quality of the portfolio. The Company has three customers, which are Genentech, Astellas and GSK. There were accounts receivable of $1,774,000 as of September 30, 2022 and $752,000 as of December 31, 2021. The Company has been transacting with Genentech since 2021, Astellas since 2020 and GSK since 2014, during which time no impairment losses have been recognized. As of September 30, 2022, there were no overdue accounts receivable. (e) New accounting pronouncements To be adopted in future periods Measurement of credit losses on financial instruments In June 2016, the FASB issued ASU 2016-13 - Financial Instruments - Credit losses, which replaces the incurred loss impairment methodology for financial instruments in current GAAP with a methodology that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information to inform credit loss estimates. The guidance is effective for the fiscal year beginning January 1, 2020, including interim periods within that fiscal year. In November 2019, the FASB issued ASU 2019-10 which resulted in the postponement of the effective date of the new guidance for eligible smaller reporting companies (as defined by the SEC), including the Company, at that time to the fiscal year beginning January 1, 2023. The Company intends to adopt the guidance in the fiscal year beginning January 1, 2023. The guidance must be adopted using a modified-retrospective approach and a prospective transition approach is required for debt securities for which an other-than-temporary impairment had been recognized before the effective date. The Company is currently evaluating the impact of the guidance on its consolidated financial statements. Accounting for Contract Assets and Contract Liabilities from Contracts with Customers ​ and (2) payment terms and their effect on subsequent revenue recognized by the acquirer. The amendments in this ASU resolve this inconsistency by requiring that an entity (acquirer) recognize and measure contract assets and liabilities acquired in a business combination in accordance with Topic 606, in contrast to current GAAP which requires that assets acquired and liabilities assumed in a business combination, including contract assets and contract liabilities, are measured at fair value as of the acquisition date. For public business entities, including the Company, the guidance is effective for fiscal years beginning on or after December 15, 2022, including interim periods within that fiscal year. The Company intends to adopt the guidance in the fiscal year beginning January 1, 2023. The amendments in this ASU should be applied prospectively to business combinations occurring on or after the effective date of the amendments. The Company is currently evaluating the impact of the guidance on its consolidated financial statements.

Revenue (Tables)

Revenue (Tables)	9 Months Ended
	Sep. 30, 2022
Revenue
Summary of revenue categories	Revenue comprises the following categories (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended Nine months ended ​ September 30, ​ September 30, ​ 2022 2021 ​ 2022 2021 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Development revenue $ 7,007 $ 1,203 ​ $ 16,120 $ 4,732 ​ $ 7,007 $ 1,203 ​ $ 16,120 $ 4,732

Loss per share (Tables)

Loss per share (Tables)	9 Months Ended
	Sep. 30, 2022
Loss per share
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): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended ​ Nine months ended ​ ​ September 30, ​ September 30, ​ 2022 2021 2022 2021 Numerator for basic and diluted loss per share ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net loss attributable to ordinary shareholders $ (41,421) $ (42,401) $ (136,206) $ (119,232) Net loss attributable to ordinary shareholders used for basic and diluted loss per share ​ $ (41,421) ​ $ (42,401) ​ $ (136,206) ​ $ (119,232) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended ​ Nine months ended ​ ​ September 30, ​ September 30, ​ 2022 2021 2022 2021 Denominator for basic and diluted loss per share - Weighted average shares outstanding 980,791,114 936,600,648 961,354,122 933,992,708

Accumulated other comprehensi_2

Accumulated other comprehensive loss (Tables)	9 Months Ended
	Sep. 30, 2022
Accumulated other comprehensive loss.
Schedule of changes in Accumulated other comprehensive (loss) income	​

Fair value measurements (Tables

Fair value measurements (Tables)	9 Months Ended
	Sep. 30, 2022
Fair value measurements
Summary of fair value of assets and liabilities on a recurring basis based on fair value measurement criteria	Assets and liabilities measured at fair value on a recurring basis based on Level 1, Level 2, and Level 3 fair value measurement criteria as of September 30, 2022 are as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair value measurements using ​ ​ September 30, ​ Level 1 ​ Level 2 ​ Level 3 ​ 2022 ​ ​ ​ ​ ​ ​ Assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Corporate debt securities ​ $ 97,771 ​ $ 97,771 ​ $ — ​ $ — U.S. Treasury securities ​ ​ 18,066 ​ ​ — ​ ​ 18,066 ​ ​ — Agency bonds ​ 4,832 ​ ​ — ​ ​ 4,832 ​ ​ — ​ $ 120,669 ​ $ 97,771 $ 22,898 $ —

Marketable securities - avail_2

Marketable securities - available-for-sale debt securities (Tables)	9 Months Ended
	Sep. 30, 2022
Marketable securities - available-for-sale debt securities
Schedule of marketable securities	As of September 30, 2022, the Company has the following investments in marketable securities (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gross ​ Gross ​ Aggregate ​ ​ Remaining ​ Amortized ​ unrealized ​ unrealized ​ estimated ​ contractual maturity cost gains losses fair value Available-for-sale debt securities: ​ ​ ​ ​ Corporate debt securities Less than 3 months ​ $ 12,410 ​ $ — ​ $ (43) ​ $ 12,367 U.S. Treasury securities ​ Less than 3 months ​ ​ 18,117 ​ ​ — ​ ​ (51) ​ ​ 18,066 Agency bonds ​ 3 months to 1 year ​ ​ 5,000 ​ ​ — ​ ​ (168) ​ ​ 4,832 Corporate debt securities ​ 3 months to 1 year ​ ​ 84,319 ​ ​ — ​ ​ (1,277) ​ ​ 83,042 Corporate debt securities ​ 1 year to 2 years ​ ​ 2,447 ​ ​ — ​ ​ (85) ​ ​ 2,362 ​ ​ $ 122,293 ​ $ — ​ $ (1,624) ​ $ 120,669
Schedule of aggregate fair value and number of securities held by the Company in an unrealized loss position	The aggregate fair value (in thousands) and number of securities held by the Company (including those classified as cash equivalents) in an unrealized loss position as of September 30, 2022 and December 31, 2021 are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, 2022 ​ December 31, 2021 ​ Fair market value of investments in an unrealized loss position ​ Number of investments in an unrealized loss position ​ Unrealized losses ​ Fair market value of investments in an unrealized loss position ​ Number of investments in an unrealized loss position ​ Unrealized losses Marketable securities in a continuous loss position for 12 months or longer: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Corporate debt securities ​ $ 34,519 ​ ​ 6 ​ $ (393) ​ $ 8,232 ​ ​ 1 ​ ​ (35) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Marketable securities in a continuous loss position for less than 12 months: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Corporate debt securities $ 63,252 ​ 14 ​ $ (1,012) $ 163,258 ​ 34 $ (348) U.S. Treasury securities ​ 18,066 ​ 3 ​ (51) ​ — ​ — ​ — Agency bond ​ ​ 4,832 ​ ​ 1 ​ ​ (168) ​ ​ 4,993 ​ ​ 1 ​ ​ (7) ​ $ 120,669 ​ 24 ​ $ (1,624) $ 176,483 ​ 36 $ (390)

Other current assets (Tables)

Other current assets (Tables)	9 Months Ended
	Sep. 30, 2022
Other current assets
Summary of other current assets	Other current assets consisted of the following (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, ​ December 31, ​ 2022 2021 Corporate tax receivable $ 48,543 ​ $ 30,773 Prepayments ​ 8,052 ​ ​ 9,043 Clinical materials ​ 1,171 ​ ​ 746 VAT receivable ​ ​ 3,217 ​ ​ 2,482 Other current assets ​ 1,712 ​ ​ 2,082 ​ ​ $ 62,695 ​ $ 45,126

Operating Leases (Tables)

Operating Leases (Tables)	9 Months Ended
	Sep. 30, 2022
Operating leases
Schedule of weighted-average remaining lease term and the weighted-average discount rate	The following table shows the weighted-average remaining lease term and the weighted-average discount rate as at September 30, 2022 and 2021: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, ​ ​ ​ 2022 ​ 2021 ​ ​ ​ ​ ​ ​ ​ ​ Weighted-average remaining lease term - operating leases ​ ​ 7.0 years ​ 8.0 years Weighted-average discount rate - operating leases ​ ​ 6.8% ​ 6.8%
Schedule of maturities of operating lease liabilities	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, ​ ​ ​ 2022 ​ 2021 ​ ​ ​ ​ ​ ​ ​ ​ Weighted-average remaining lease term - operating leases ​ ​ 7.0 years ​ 8.0 years Weighted-average discount rate - operating leases ​ ​ 6.8% ​ 6.8%

Accrued expenses and other cu_2

Accrued expenses and other current liabilities (Tables)	9 Months Ended
	Sep. 30, 2022
Accrued expenses and other current liabilities
Schedule of accrued expenses and other current liabilities	Accrued expenses and other current liabilities consisted of the following (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, ​ December 31, ​ 2022 2021 Accrued clinical and development expenditure ​ $ 19,526 ​ $ 13,436 Accrued employee expenses ​ ​ 10,356 ​ ​ 11,758 Other accrued expenditure ​ ​ 5,067 ​ ​ 4,388 Other ​ 1,130 ​ 327 ​ ​ $ 36,079 ​ $ 29,909

Share-based compensation (Table

Share-based compensation (Tables)	9 Months Ended
	Sep. 30, 2022
Share-based compensation
Summary of share-based compensation expense included in the unaudited consolidated statements of operations	The following table shows the total share-based compensation expense included in the unaudited consolidated statements of operations (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended ​ Nine months ended ​ ​ ​ September 30, ​ September 30, ​ 2022 2021 2022 2021 Research and development ​ $ 447 ​ $ 2,177 ​ $ 5,003 ​ $ 7,064 General and administrative ​ 3,216 ​ 2,842 ​ 9,291 ​ ​ 8,738 ​ ​ $ 3,663 ​ $ 5,019 ​ $ 14,294 ​ $ 15,802
Summary of all stock option activity	The following table shows information about share options and options which have a nominal exercise price (similar to restricted stock units (RSUs)) granted: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended ​ Nine months ended ​ ​ ​ September 30, ​ September 30, ​ ​ 2022 2021 2022 2021 Number of options over ordinary shares granted ​ ​ 5,996,581 ​ ​ 4,170,230 ​ ​ 30,608,533 ​ ​ 19,891,334 Weighted average fair value of ordinary shares options ​ $ 0.21 ​ $ 0.51 ​ $ 0.37 ​ $ 0.70 Number of additional options with a nominal exercise price granted ​ ​ 1,866,216 ​ ​ 1,348,920 ​ ​ 22,916,376 ​ ​ 16,008,168 Weighted average fair value of options with a nominal exercise price ​ $ 0.28 ​ $ 0.70 ​ $ 0.53 ​ $ 0.98

General (Details)

General (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
General
Accumulated deficit	$ 880,052	$ 743,846

Summary of Significant Accoun_3

Summary of Significant Accounting Policies - Cash, cash equivalents and restricted cash (Details) - USD ($)	Sep. 30, 2022	Dec. 31, 2021
Summary of Significant Accounting Policies
Cash and cash equivalents	$ 79,001,000	$ 149,948,000
Marketable securities	120,669,000	219,632,000
Restricted cash	$ 1,712,000	$ 1,718,000

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Accounts receivable (Details)	Sep. 30, 2022 USD ($) customer	Dec. 31, 2021 USD ($)
Accounts receivable
Accounts receivable	$ 1,774,000	$ 752,000
Overdue accounts receivable	$ 0
Customer Concentration Risk
Accounts receivable
Number of customers | customer	3
Accounts receivable	$ 1,774,000	$ 752,000

Revenue - Revenue from contract

Revenue - Revenue from contracts with customers (Details)	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2022 USD ($) contract	Sep. 30, 2021 USD ($) contract	Sep. 30, 2022 USD ($) contract	Sep. 30, 2021 USD ($) contract	Dec. 31, 2021 USD ($)
Revenue
Revenue	$ 7,007,000	$ 1,203,000	$ 16,120,000	$ 4,732,000
Number of contracts with customers | contract	3	2	3	2
Decrease in deferred revenue			$ (12,388,000)	$ 1,696,000	$ 46,567,000
Deferred revenue	$ 152,855,000		152,855,000		$ 199,422,000
Amount of decrease in deferred income caused by the change in the exchange rate			$ 35,693,000
Exchange rate	1.11		1.11		1.35
Remaining performance obligation	$ 326,545,000		$ 326,545,000
Revenue recognized in the period			13,038,000
Development revenue
Revenue
Revenue	$ 7,007,000	$ 1,203,000	$ 16,120,000	$ 4,732,000

Revenue - Collaboration Agreeme

Revenue - Collaboration Agreement - The Genentech Collaboration and License Agreement (Details)	Sep. 30, 2022 USD ($)
Revenue
Aggregate amount of the transaction price that is allocated to performance obligations that are unsatisfied or partially satisfied under the agreements	$ 326,545,000
Strategic Collaboration and License Agreement
Revenue
Aggregate amount of the transaction price that is allocated to performance obligations that are unsatisfied or partially satisfied under the agreements	276,396,000
Strategic Collaboration and License Agreement | Material Right to Designate the Additional Off the Shelf Collaboration Target
Revenue
Aggregate amount of the transaction price that is allocated to performance obligations that are unsatisfied or partially satisfied under the agreements	12,228,000
Strategic Collaboration and License Agreement | Research Service Rights Granted for Initial Off the Shelf Collaboration Targets
Revenue
Aggregate amount of the transaction price that is allocated to performance obligations that are unsatisfied or partially satisfied under the agreements	170,265,000
Strategic Collaboration and License Agreement | Research Service Rights Granted for Personalized Therapies
Revenue
Aggregate amount of the transaction price that is allocated to performance obligations that are unsatisfied or partially satisfied under the agreements	88,016,000
Strategic Collaboration and License Agreement | Material Right for First Option Extend the Research Term
Revenue
Aggregate amount of the transaction price that is allocated to performance obligations that are unsatisfied or partially satisfied under the agreements	4,710,000
Strategic Collaboration and License Agreement | Material Right for Second Option Extend the Research Term
Revenue
Aggregate amount of the transaction price that is allocated to performance obligations that are unsatisfied or partially satisfied under the agreements	$ 1,177,000

Revenue - Collaboration Agree_2

Revenue - Collaboration Agreement - The Astellas Collaboration Agreement (Details)	9 Months Ended
	Sep. 30, 2022 USD ($) item
Revenue
Aggregate amount of the transaction price that is allocated to performance obligations that are unsatisfied or partially satisfied under the agreements	$ 326,545,000
Astellas Collaboration Agreement
Revenue
Number Of Co Development Target | item	3
Number of independent targets | item	2
Aggregate amount of the transaction price that is allocated to performance obligations that are unsatisfied or partially satisfied under the agreements	$ 49,818,000
Astellas Collaboration Agreement | Rights granted, first and second independent target
Revenue
Aggregate amount of the transaction price that is allocated to performance obligations that are unsatisfied or partially satisfied under the agreements	12,337,000
Astellas Collaboration Agreement | Research services and rights granted under the co-exclusive license, first co-development target
Revenue
Aggregate amount of the transaction price that is allocated to performance obligations that are unsatisfied or partially satisfied under the agreements	6,670,000
Astellas Collaboration Agreement | Research services and rights under the co-exclusive license, second co-development target
Revenue
Aggregate amount of the transaction price that is allocated to performance obligations that are unsatisfied or partially satisfied under the agreements	12,518,000
Astellas Collaboration Agreement | Research services and rights under the co-exclusive license, third co-development target
Revenue
Aggregate amount of the transaction price that is allocated to performance obligations that are unsatisfied or partially satisfied under the agreements	$ 5,956,000

Revenue - Collaboration Agree_3

Revenue - Collaboration Agreement - The GSK Collaboration and License Agreement (Details)	Sep. 30, 2022 USD ($)
Revenue
Aggregate amount of the transaction price that is allocated to performance obligations that are unsatisfied or partially satisfied under the agreements	$ 326,545,000
GSK Collaboration And License Agreement
Revenue
Aggregate amount of the transaction price that is allocated to performance obligations that are unsatisfied or partially satisfied under the agreements	$ 330,000

Loss per share - Basic and dilu

Loss per share - Basic and diluted income (loss) per share (Details) - USD ($) $ in Thousands	3 Months Ended						9 Months Ended
	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Sep. 30, 2022	Sep. 30, 2021
Numerator for basic and diluted loss per share
Net loss attributable to ordinary shareholders	$ (41,421)	$ (44,520)	$ (50,265)	$ (42,401)	$ (39,068)	$ (37,763)	$ (136,206)	$ (119,232)
Numerator for basic loss per share	(41,421)			(42,401)			(136,206)	(119,232)
Numerator for diluted loss per share	$ (41,421)			$ (42,401)			$ (136,206)	$ (119,232)
Denominator for basic and diluted loss per share
Denominator for basic loss per share - Weighted average shares outstanding	980,791,114			936,600,648			961,354,122	933,992,708
Denominator for diluted loss per share - Weighted average shares outstanding	980,791,114			936,600,648			961,354,122	933,992,708

Loss per share - Antidilutive s

Loss per share - Antidilutive shares (Details) - shares	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Share options
Antidilutive securities
Potentially dilutive equity instruments excluded from the diluted loss per share (in shares)	152,427,845	115,924,296	152,427,845	115,924,296

Accumulated other comprehensi_3

Accumulated other comprehensive loss (Details) - USD ($) $ in Thousands	3 Months Ended						9 Months Ended
	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Sep. 30, 2022	Sep. 30, 2021
Accumulated other comprehensive loss
Balance beginning of period			$ (11,142)				$ (11,142)
Foreign currency translation adjustments	$ 58,011			$ 15,564			122,496	$ 8,386
Foreign currency gains (losses) on intercompany loan of a long-term investment nature, net of tax of $0	(50,489)			(15,310)			(103,404)	(8,351)
Unrealized holding gain (losses) on available-for-sale debt securities, net of tax of $0	204			33			(1,267)	(85)
Balance end of period	6,683						6,683
Accumulated other comprehensive loss (paranthetical)
Foreign currency gain (losses) on intercompany loan of a long-term investment nature, tax	0	$ 0	0	0	$ 0	$ 0	0	0
Unrealized holding gains (losses) on available-for-sale debt securities, tax	0	0	0	0	0	0	0	0
Accumulated foreign currency translation adjustments
Accumulated other comprehensive loss
Balance beginning of period	785	(7,801)	(10,785)	(10,377)	(10,111)	(10,158)	(10,785)	(10,158)
Foreign currency translation adjustments	58,011	47,694	16,792	15,564	(4,177)	(3,001)
Foreign currency gains (losses) on intercompany loan of a long-term investment nature, net of tax of $0	(50,489)	(39,108)	(13,808)	(15,310)	3,911	3,048
Balance end of period	8,307	785	(7,801)	(10,123)	(10,377)	(10,111)	8,307	(10,123)
Accumulated unrealized gains (losses) on available-for-sale debt securities
Accumulated other comprehensive loss
Balance beginning of period	(1,828)	(1,512)	(357)	(8)	(113)	110	(357)	110
Unrealized holding gain (losses) on available-for-sale debt securities, net of tax of $0	204	(316)	(1,155)	33	105	(223)
Balance end of period	(1,624)	(1,828)	(1,512)	25	(8)	(113)	(1,624)	25
Accumulated other comprehensive (loss) income
Accumulated other comprehensive loss
Balance beginning of period	(1,043)	(9,313)	(11,142)	(10,385)	(10,224)	(10,048)	(11,142)	(10,048)
Foreign currency translation adjustments	58,011	47,694	16,792	15,564	(4,177)	(3,001)
Foreign currency gains (losses) on intercompany loan of a long-term investment nature, net of tax of $0	(50,489)	(39,108)	(13,808)	(15,310)	3,911	3,048
Unrealized holding gain (losses) on available-for-sale debt securities, net of tax of $0	204	(316)	(1,155)	33	105	(223)
Balance end of period	$ 6,683	$ (1,043)	$ (9,313)	$ (10,098)	$ (10,385)	$ (10,224)	$ 6,683	$ (10,098)

Fair value measurements (Detail

Fair value measurements (Details) - USD ($)	Sep. 30, 2022	Dec. 31, 2021
Marketable securities:
Available-for-sale securities, Debt Securities, Current, Total	$ 120,669,000	$ 219,632,000
Recurring basis
Marketable securities:
Available-for-sale securities, Debt Securities, Current, Total	120,669,000
Recurring basis | Corporate debt securities
Marketable securities:
Available-for-sale securities, Debt Securities, Current, Total	97,771,000
Recurring basis | U.S. Treasury securities
Marketable securities:
Available-for-sale securities, Debt Securities, Current, Total	18,066,000
Recurring basis | Agency bonds
Marketable securities:
Available-for-sale securities, Debt Securities, Current, Total	4,832,000
Recurring basis | Level 1
Marketable securities:
Available-for-sale securities, Debt Securities, Current, Total	97,771,000
Recurring basis | Level 1 | Corporate debt securities
Marketable securities:
Available-for-sale securities, Debt Securities, Current, Total	97,771,000
Recurring basis | Level 2
Marketable securities:
Available-for-sale securities, Debt Securities, Current, Total	22,898,000
Recurring basis | Level 2 | U.S. Treasury securities
Marketable securities:
Available-for-sale securities, Debt Securities, Current, Total	18,066,000
Recurring basis | Level 2 | Agency bonds
Marketable securities:
Available-for-sale securities, Debt Securities, Current, Total	$ 4,832,000

Marketable securities - Avail_3

Marketable securities - Available-for-sale debt securities (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2022 USD ($)
Debt Securities
Marketable securities
Amortized cost	$ 122,293
Gross unrealized losses	(1,624)
Aggregate estimated fair value	120,669
Corporate Debt Securities Maturity Period Less Than Three Months | Debt Securities
Marketable securities
Amortized cost	12,410
Gross unrealized losses	(43)
Aggregate estimated fair value	12,367
U.S. Treasury Securities Maturity Period Less Than Three Months
Marketable securities
Amortized cost	18,117
Gross unrealized losses	(51)
Aggregate estimated fair value	18,066
Corporate Debt Securities Maturity Period Three Months To One Year | Debt Securities
Marketable securities
Amortized cost	84,319
Gross unrealized losses	(1,277)
Aggregate estimated fair value	83,042
Corporate Debt Securities Maturity Period One Year To Two Years | Debt Securities
Marketable securities
Amortized cost	2,447
Gross unrealized losses	(85)
Aggregate estimated fair value	2,362
Agency Bond Maturity Period Three Months To One Year
Marketable securities
Amortized cost	5,000
Gross unrealized losses	(168)
Aggregate estimated fair value	$ 4,832
Minimum | Corporate Debt Securities Maturity Period Three Months To One Year
Marketable securities
Available For Sale Securities Debt Maturity Period	3 months
Minimum | Corporate Debt Securities Maturity Period One Year To Two Years
Marketable securities
Available For Sale Securities Debt Maturity Period	1 year
Minimum | Agency Bond Maturity Period Three Months To One Year
Marketable securities
Available For Sale Securities Debt Maturity Period	3 months
Maximum | Corporate Debt Securities Maturity Period Less Than Three Months | Debt Securities
Marketable securities
Available For Sale Securities Debt Maturity Period	3 months
Maximum | U.S. Treasury Securities Maturity Period Less Than Three Months
Marketable securities
Available For Sale Securities Debt Maturity Period	3 months
Maximum | Corporate Debt Securities Maturity Period Three Months To One Year
Marketable securities
Available For Sale Securities Debt Maturity Period	1 year
Maximum | Corporate Debt Securities Maturity Period One Year To Two Years
Marketable securities
Available For Sale Securities Debt Maturity Period	2 years
Maximum | Agency Bond Maturity Period Three Months To One Year
Marketable securities
Available For Sale Securities Debt Maturity Period	1 year

Marketable securities - Avail_4

Marketable securities - Available-for-sale debt securities - Unrealized loss position (Details)	Sep. 30, 2022 USD ($) security	Dec. 31, 2021 USD ($) security
Corporate debt securities
Marketable securities
Fair market value of investments in an unrealized loss position, less than 12 months	$ 18,066,000
Number of available-for-sale securities in an unrealized loss position, 12 months or longer | security	6	1
Number of available-for-sale securities in an unrealized loss position, less than 12 months | security	3
Unrealized losses, 12 months or longer	$ (393,000)
Unrealized losses, less than 12 months	(51,000)
U.S. Treasury securities
Marketable securities
Fair market value of investments in an unrealized loss position, less than 12 months	$ 4,832,000	$ 4,993,000
Number of available-for-sale securities in an unrealized loss position, less than 12 months | security	1	1
Unrealized losses, less than 12 months	$ (168,000)	$ (7,000)
Agency bonds
Marketable securities
Fair market value of investments in an unrealized loss position, less than 12 months	$ 120,669,000	$ 176,483,000
Number of available-for-sale securities in an unrealized loss position, less than 12 months | security	24	36
Unrealized losses, less than 12 months	$ (1,624,000)	$ (390,000)

Other current assets (Details)

Other current assets (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Other current assets
Corporate tax receivable	$ 48,543	$ 30,773
Prepayments	8,052	9,043
Clinical materials	1,171	746
VAT receivable	3,217	2,482
Other current assets	1,712	2,082
Total	$ 62,695	$ 45,126

Operating Leases (Details)

Operating Leases (Details) - USD ($) $ in Thousands	Mar. 30, 2022	Sep. 30, 2022	Sep. 30, 2021
Operating leases
Amount of increase (decrease) in obligation and right-of-use asset for operating lease following lease modification	$ 75
Weighted-average remaining lease term - operating leases		7 years	8 years
Weighted-average discount rate - operating leases		6.80%	6.80%

Operating Leases - Maturities (

Operating Leases - Maturities (Details) $ in Thousands	Sep. 30, 2022 USD ($)
Maturities of operating lease liabilities
2022	$ 1,010
2023	3,833
2024	3,782
2025	3,829
2026	3,883
after 2026	12,004
Total lease payments	28,341
Less: Imputed interest	(5,941)
Present value of lease liability	$ 22,400

Accrued expenses and other cu_3

Accrued expenses and other current liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Accrued expenses and other current liabilities
Accrued clinical and development expenditure	$ 19,526	$ 13,436
Accrued employee expenses	10,356	11,758
Other accrued expenditure	5,067	4,388
Other	1,130	327
Total	$ 36,079	$ 29,909

Contingencies and commitments -

Contingencies and commitments - Alpine Collaboration Agreement (Details) - Research and development - Collaboration agreement - Alpine Immune Sciences Inc. - USD ($)	1 Months Ended	9 Months Ended
	Jun. 30, 2019	Sep. 30, 2022
Contingencies and commitments
Upfront license fees	$ 2,000,000
Milestone payments		$ 1,000,000
Maximum
Contingencies and commitments
Potential milestone payments	$ 288,000,000

Contingencies and commitments_2

Contingencies and commitments - Universal Cells Research, Collaboration and License Agreement and Co-development and Co-commercialization agreement (Details) - Collaboration and license agreement - Universal Cells, Inc. - USD ($)	1 Months Ended		9 Months Ended	12 Months Ended
	Feb. 29, 2016	Nov. 30, 2015	Sep. 30, 2022	Dec. 31, 2018	Dec. 31, 2017
Contingencies and commitments
Upfront license and start-up fees		$ 2,500,000
Milestone payments	$ 3,000,000		$ 500,000	$ 200,000	$ 900,000
Milestone payment invoiced but not paid			400,000
Maximum
Contingencies and commitments
Potential milestone payments			35,300,000
Milestone payment accrued but not yet paid			1,800,000
Milestone payment invoiced but not paid			$ 600,000

Contingencies and commitments_3

Contingencies and commitments - MD Anderson Strategic Alliance (Details) - MD Anderson Strategic Alliance - USD ($)	9 Months Ended	12 Months Ended
	Sep. 30, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2018	Dec. 31, 2017	Sep. 26, 2016
Contingencies and commitments
Upfront payment					$ 3,412,000
Milestone Payments		$ 454,000	$ 3,549,000	$ 2,326,000
Milestone met and paid in current period	$ 2,326,000
Minimum
Contingencies and commitments
Potential milestone payments						$ 19,644,000

Share-based compensation - Shar

Share-based compensation - Share-based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Total share-based compensation expense included in the consolidated statements of operations
Total share-based compensation expense	$ 3,663	$ 5,019	$ 14,294	$ 15,802
Research and development
Total share-based compensation expense included in the consolidated statements of operations
Total share-based compensation expense	447	2,177	5,003	7,064
General and administrative
Total share-based compensation expense included in the consolidated statements of operations
Total share-based compensation expense	$ 3,216	$ 2,842	$ 9,291	$ 8,738

Share-based compensation - Opti

Share-based compensation - Options (Details) - $ / shares	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Share-based compensation
Number of options over ordinary shares granted (in shares)	5,996,581	4,170,230	30,608,533	19,891,334
Weighted average fair value of ordinary shares options (in dollars per share)	$ 0.21	$ 0.51	$ 0.37	$ 0.70
Number of additional options with a nominal exercise price granted	1,866,216	1,348,920	22,916,376	16,008,168
Weighted average fair value of options with a nominal exercise price	$ 0.28	$ 0.70	$ 0.53	$ 0.98

Stockholders equity (Details)

Stockholders equity (Details) - USD ($)			9 Months Ended
	Apr. 08, 2022	Aug. 10, 2020	Sep. 30, 2022
Sales Agreement
Shareholders' equity
Remaining amount under the Sales Agreement (in shares)			$ 197,360,000
Sales Agreement | Maximum
Shareholders' equity
Aggregate offering price of ADS shares under At The Market sales agreement		$ 200,000,000
2022 Sales Agreement
Shareholders' equity
Remaining amount under the Sales Agreement (in shares)			$ 188,149,700
Sold shares represented by American Depositary Shares (in shares)			6,681,506
Number of ordinary shares sold (in shares)			40,089,036
Net proceeds			$ 11,413,652
2022 Sales Agreement | Maximum
Shareholders' equity
Aggregate offering price of ADS shares under At The Market sales agreement	$ 200,000,000