Restructuring and Other Related Charges

3 Months Ended

Mar. 31, 2025

Restructuring and Related Activities [Abstract]

4. Restructuring and Other Related Charges

In connection with the ENLIGHTEN 1 trial failing to meet its primary endpoint, on May 16, 2024, the Board of Directors approved a reduction in the Company’s workforce, impacting 87 employees, which occurred during May and June 2024. The Company incurred costs related to employee termination benefits and other costs associated with the restructuring mainly during the second quarter of 2024, with the remainder of the costs to be incurred through May 1, 2025. These amounts are recorded as restructuring and other related charges within our condensed consolidated statements of operations and comprehensive loss as they are incurred. For the three months ended March 31, 2025, restructuring and other related charges were $0.9 million, which consisted of $0.7 million of severance costs and $0.2 million of retention costs.

Restructuring liability activities during the year ended December 31, 2024 and the three months ended March 31, 2025 consist of the following (in thousands):


	Severance Costs			Retention Costs			Other Costs			Total Restructuring
Balance at January 1, 2024	$	—		$	—		$	—		$	—
Accruals		6,713			3,174			1,009			10,896
Cash payments		(3,953	)		(1,596	)		(1,000	)		(6,549	)
Balance at December 31, 2024		2,760			1,578			9			4,347
Accruals		687			198			—			885
Cash payments		(238	)		(946	)		(9	)		(1,193	)
Balance at March 31, 2025	$	3,209		$	830		$	—		$	4,039