Termination Benefits |
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Jun. 30, 2026 | |||||||||||||||||||||||||||||||||||||||||||||||||
| Termination Benefits [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||
| Termination Benefits | TERMINATION BENEFITS: Q2 2024 Reduction in Workforce During the second quarter of 2024, the Company executed a reduction in workforce as the Company notified employees of its intention to consolidate its Novosanis site in Belgium into other locations by the end of December 31, 2024, discontinue the Diversigen molecular services line of business by the end of June 30, 2024, and consolidate facilities by bringing third-party manufacturing activities into its Pennsylvania facilities by the end of the third quarter of 2025. As of March 31, 2026 the Company had paid the full $1.7 million related to the reduction in workforce. This reduction in workforce was completed by March 31, 2026 and no additional charges were incurred during the six months ended June 30, 2026. Q3 2024 Reduction in Workforce During the third quarter of 2024, the Company executed a reduction in workforce as the Company notified certain employees of its intention to discontinue its risk assessment business. Additional employees were notified in the fourth quarter of 2024. As of June 30, 2026, the Company had $0.1 million accrued and had paid $1.2 million related to this reduction in workforce. No additional charges were incurred during the six months ended June 30, 2026. The Company expects this reduction in workforce to be completed by October 2026. Q1 2026 Reduction in Workforce During the first quarter of 2026, the Company executed a reduction in workforce to better align the Company's cost structure. The charges for termination benefits included in the Company's consolidated statements of operations are as follows:
As of June 30, 2026, the Company had $0.5 million accrued and had paid $0.8 million related to the reduction in workforce. No additional charges were incurred during the six months ended June 30, 2026. The Company expects this reduction in workforce to be completed by February 2027.
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