In June 2025, the Company’s Board of Directors approved a restructuring plan to prioritize investments in its AAV platform and reduce overall cash spending, which was communicated to employees before the end of June 2025. The restructuring included a reduction of the Company’s workforce by approximately 70 employees.

As a result of the restructuring, the Company incurred aggregate charges of approximately $3.5 million in June 2025, based on initial estimated restructuring costs related to severance and employee termination costs. This estimate was later reduced in the second half of 2025 to approximately $3.2 million of restructuring costs that were paid out over multiple months.

The following table summarizes the accrued liabilities activity in connection with the restructuring plan for the six months ended June 30, 2026 and 2025:


	Six Months Ended			Six Months Ended
	June 30, 2026			June 30, 2025
Beginning balance	$	46		$	-
Restructuring charges incurred during the period		-			3,471
Restructuring charges eliminated during the period		(46	)		-
Ending balance	$	-		$	3,471