Quarterly report pursuant to Section 13 or 15(d)

Shareholders' Equity / (Deficit) (Tables)

Shareholders' Equity / (Deficit) (Tables)

6 Months Ended

Jun. 30, 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 six months ended June 30, 2021 and 2020:

	Total Shareholders' Equity / (Deficit)
Shareholders' deficit at January 1, 2021	$	(50,559	)
Share-based compensation expense		840
Issuance of ordinary shares, net		68,161
Issuance of warrants for ordinary shares		6,199
Exercise of warrants for ordinary shares		15,289
Issuance of ordinary shares on conversion of exchangeable notes		98,388
Net loss		(91,123	)
Shareholders' equity at June 30, 2021	$	47,195

	Total Shareholders' Deficit
Shareholders' deficit at January 1, 2020	$	(26,238	)
Share-based compensation expense		1,783
Issuance of ordinary shares, net		2,564
Issuance of warrants for ordinary shares		1,723
Net loss		(28,621	)
Shareholders' deficit at June 30, 2020	$	(48,789	)

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 June 30, 2021 and December 31, 2020 and indicates the fair value hierarchy of the valuation inputs utilized to determine such fair value.

June 30, 2021
Assets	Total		Level 1		Level 2		Level 3
Short-term investments	$	54,867		54,867		—		—
Other asset – advance payment to supplier		3,254		—		—		3,254
Total	$	58,121	$	54,867	$	—	$	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