6. Employee Termination Benefits

In connection with our joint decision to discontinue development of zandelisib outside of Japan in December 2022, we announced a realignment of our clinical development efforts that streamlined our organization towards the continued clinical development of our two earlier clinical-stage assets, voruciclib and ME-344. As a result, our Board approved a staggered workforce reduction, which was completed during fiscal year 2024.

In August 2024, in connection with our announcement to evaluate strategic alternatives as described in Note 1. Description of Business and Basis of Presentation, we commenced the Strategic Alternatives RIF. All activities related to the Strategic Alternatives RIF were completed as of September 30, 2025. Total charges incurred for the Strategic Alternatives RIF totaled $5.9 million which included charges for retention, contractual pro rata fiscal year 2025 bonuses, severance and COBRA costs related to the termination of our employees due to our related wind down activities.

During the three months ended March 31, 2026, no employee termination benefits were recognized. During the nine months ended March 31, 2026, we recorded employee termination benefits of $0.1 million within general and administrative expense. During the three months ended March 31, 2025, we recorded employee termination benefits of $0.2 million within research and development expense and $0.8 million within general and administrative expense. During the nine months ended March 31, 2025, we recorded employee termination benefits of $1.8 million within research and development expense and $3.6 million within general and administrative expense. All one-time termination benefits were associated with our development of pharmaceutical products segment.