In 2025, the Company implemented two strategic restructuring actions designed to sharpen operational focus and align resources with the Company’s long‑term strategy to successfully complete the 4WARD trial in patients with moderate and severe CN. These strategic restructuring actions resulted in an approximately 65% reduction in employee headcount.

The following table summarizes the Company’s liability recognized in connection with severance benefits incurred under strategic restructuring initiatives:


(in thousands)
Balance as of January 1, 2026	$	1,526
Severance and other employee-related expenses (included in general and administrative expense)	37
Cash payments	(567)
Balance as of March 31, 2026 (included in accrued expenses)	$	996