In October 2025, the Company announced the initiation of a process to explore a full range of strategic alternatives focused on maximizing stockholder value. In connection with the evaluation of strategic alternatives, the Company implemented a restructuring plan including workforce reduction and other cost-containment and cash conservation measures, pursuant to which the Company initially reduced its workforce by approximately 70%.

The Company recognized restructuring charges of $6.8 million, comprised primarily of one-time employee termination benefits and long-lived assets impairment costs during the year ended December 31, 2025. The Company further recognized restructuring charges of $0.6 million, comprised primarily of one-time employee termination benefits and long-

lived assets impairment costs during the three months ended March 31, 2026. The unpaid severance and related benefit costs included in accrued liabilities in the Condensed Consolidated Balance Sheets were $0.2 million and $1.6 million as of March 31, 2026 and December 31, 2025, respectively. Restructuring and impairment charges, recorded in the Condensed Consolidated Statement of Operations are presented in the table below (in thousands):


	Three Months Ended March 31,
	2026		2025
Severance and related benefit costs	$	493	$	—
Asset impairments	119		—
Total	$	612	$	—

The following table illustrates the accrual activity and payments relating to restructuring and impairment charges (in thousands):


	Severance and related benefit costs		Asset impairments		Total
Balance as of January 1, 2025	$	—	$	—	$	—
Restructuring charges	5,741		1,096		6,837
Cash payments made	(4,185)		—		(4,185)
Non-cash charges	—		(1,096)		(1,096)
Balance as of December 31, 2025	$	1,556	$	—	$	1,556
Restructuring charges	493		119		612
Cash payments made	(1,870)		—		(1,870)
Non-cash charges	—		(119)		(119)
Balance as of March 31, 2026	$	179	$	—	$	179