In May 2025, the Company implemented a cost reduction and organizational restructuring plan to reduce cash burn and focus resources on commercial execution. In connection with the restructuring, the Company's workforce was reduced by 26 employees, or approximately 6%, including certain leadership changes all designed to right-size the organization. In 2025, the Company incurred restructuring charges of $9.2 million consisting of one-time termination benefits to affected employees for severance, non-cash stock-based compensation costs, healthcare benefits and outplacement assistance. The costs were included in research and development and selling, general, and administrative expenses on the Company’s condensed consolidated statement of operations and comprehensive loss. As of June 30, 2026, the Company had paid substantially all of the accrued restructuring charges.

The following table summarizes activity related to the restructuring accrual during the six months ended June 30, 2026 and 2025 (in thousands):


	2026			2025
Restructuring accrual as of January 1	$	492		$	—
Restructuring expenses incurred		—			7,970
Cash paid		(405	)		(2,105	)
Non-cash expenses		—			(3,221	)
Restructuring accrual as of June 30	$	87		$	2,644