v3.25.2
Restructuring Charges (Tables)
6 Months Ended
Jun. 30, 2025
Restructuring and Related Activities [Abstract]  
Summary of Charges Related to Restructuring Activities

A summary of the restructuring charges is as follows (in thousands):

 

 

Three Months Ended June 30, 2025

 

 

 

Severance and Related Compensation

 

 

Incentive and Stock-Based Compensation

 

 

Contract Termination and Other Costs

 

 

Total Restructuring Costs

 

Research and development

 

$

1,704

 

 

$

(880

)

 

$

195

 

 

$

1,019

 

General and administrative

 

 

1,114

 

 

 

(424

)

 

 

402

 

 

 

1,092

 

Total

 

$

2,818

 

 

$

(1,304

)

 

$

597

 

 

$

2,111

 

 

 

 

 

 

Six Months Ended June 30, 2025

 

 

 

Severance and Related Compensation

 

 

Incentive and Stock-Based Compensation

 

 

Contract Termination and Other Costs

 

 

Total Restructuring Costs

 

Research and development

 

$

4,296

 

 

$

(1,774

)

 

$

225

 

 

$

2,747

 

General and administrative

 

 

1,374

 

 

 

(557

)

 

 

409

 

 

 

1,226

 

Total

 

$

5,670

 

 

$

(2,331

)

 

$

634

 

 

$

3,973

 

 

 

 

Summary of Changes in Company's Accrued Restructuring Balance

The following table summarizes the changes in the Company's accrued restructuring balance in the condensed balance sheets (in thousands):

 

 

Beginning Balance
December 31, 2024

 

 

Charges

 

 

Payments

 

 

Ending Balance
June 30, 2025

 

Accrued severance

 

$

3,337

 

 

$

5,670

 

 

$

(7,186

)

 

$

1,821

 

Accrued contract termination costs

 

 

29

 

 

 

634

 

 

 

(511

)

 

 

152

 

Total accrued restructuring liability

 

$

3,366

 

 

$

6,304

 

 

$

(7,697

)

 

$

1,973

 

 

 

 

Beginning Balance
December 31, 2023

 

 

Charges

 

 

Payments

 

 

Ending Balance
June 30, 2024

 

Accrued severance

 

$

2,397

 

 

$

 

 

$

(2,397

)

 

$

 

Accrued contract termination costs

 

 

 

 

 

107

 

 

 

(107

)

 

 

 

Total accrued restructuring liability

 

$

2,397

 

 

$

107

 

 

$

(2,504

)

 

$