v3.25.2
Restructuring Plan (Tables)
6 Months Ended
Jun. 30, 2025
Restructuring and Related Activities [Abstract]  
Summary of Restructuring Costs A summary of the restructuring costs recorded in the condensed consolidated statements of operations and comprehensive loss for both the three and six months ended June 30, 2025 is as follows:

 

 

 

Three and Six Months Ended June 30, 2025

 

 

(in thousands)

 

Severance and Benefits Costs

 

 

Stock-based Compensation

 

 

Accelerated Depreciation on Long-lived Assets

 

 

Accelerated Amortization on Right-of-use Assets

 

 

Loss on Disposal of Long-lived Assets

 

 

Total Restructuring Cost Recorded

 

 

Research and development expense

 

$

8,957

 

 

$

 

 

 

$

1,230

 

 

$

10,159

 

 

$

3,303

 

 

$

20,346

 

 

General and administrative expense

 

 

5,188

 

 

 

 

549

 

 

 

284

 

 

 

1,064

 

 

 

 

 

 

10,388

 

 

Total restructuring costs

 

$

14,145

 

 

$

 

549

 

 

$

1,514

 

 

$

11,223

 

 

$

3,303

 

 

$

30,734

 

 

Summary of Severance and Benefit Cost with Balance of Liability

The following table provides details of the severance and benefit costs with the remaining balance of the liability recorded in accrued liabilities on the condensed consolidated balance sheets as of June 30, 2025 (in millions):

(in thousands)

 

Restructuring Liability

 

Restructuring costs

 

$

14,145

 

Cash payments

 

 

(2,631

)

Liability included in accrued liabilities at June 30, 2025

 

$

11,514