Quarterly report pursuant to Section 13 or 15(d)

Shareholders' Equity / (Deficit) (Tables)

Shareholders' Equity / (Deficit) (Tables)

3 Months Ended

Mar. 31, 2021

Reconciliation of the Company's Beginning and Ending Balances in Shareholders' Equity / (Deficit)

The following tables present a reconciliation of the Company’s beginning and ending balances in shareholders’ equity / (deficit) for the three months ended March 31, 2021 and 2020:

	Total Shareholders' Equity / (Deficit)
Shareholders' deficit at January 1, 2021	$	(50,559	)
Share-based compensation expense		281
Issuance of ordinary shares, net		68,156
Issuance of warrants for ordinary shares		6,199
Exercise of warrants for ordinary shares		14,257
Issuance of ordinary shares on conversion of exchangeable notes		92,104
Net loss		(98,921	)
Shareholders' equity at March 31, 2021	$	31,517

	Total Shareholders' Deficit
Shareholders' deficit at January 1, 2020	$	(26,238	)
Share-based compensation expense		597
Net loss		(16,100	)
Shareholders' deficit at March 31, 2020	$	(41,741	)

Schedule of Financial Assets Measured at Fair Value

The following table presents information about the Company’s financial assets that were carried at fair value on a recurring basis on the condensed consolidated balance sheet as of March 31, 2021 and December 31, 2020 and indicates the fair value hierarchy of the valuation inputs utilized to determine such fair value.

March 31, 2021
Assets	Total		Level 1		Level 2		Level 3
Short-term investments	$	33,868		33,868		—		—
Other asset – advance payment to supplier		3,224		—		—		3,224
Total	$	37,092	$	33,868	$	—	$	3,224

December 31, 2020
Assets	Total		Level 1		Level 2		Level 3
Other asset – advance payment to supplier	$	3,357	$	—	$	—	$	3,357

Warrant

Schedule of Financial Assets Measured at Fair Value

The Company has classified the warrants as equity in accordance with ASC 815. The fair value of the warrants was valued at issuance using the Black-Scholes option pricing model with the following assumptions:

	February 8, 2021
Volatility		120	%
Expected term in years	4.99
Dividend rate		0	%
Risk-free interest rate		0.48	%
Share price	$	1.54
Fair value of warrants issued	$	1.27

	February 10, 2021
Volatility		120	%
Expected term in years	4.98
Dividend rate		0	%
Risk-free interest rate		0.46	%
Share price	$	2.73
Fair value of warrants issued	$	2.32

	February 12, 2021
Volatility		120	%
Expected term in years	4.99
Dividend rate		0	%
Risk-free interest rate		0.50	%
Share price	$	2.26
Fair value of warrants issued	$	1.84