6. Accrued and Other Current Liabilities

Restructuring Activities

As part of its transition from a clinical-stage company to a commercial organization, the Company recently completed a comprehensive business review to reallocate a portion of its capital investment from research and development and general and administrative expenses toward its reimbursement-focused commercialization of PreTRM and to right size its operating expenses. As a result, on May 6, 2026, the Company announced a restructuring and workforce reduction of 14 full-time employees, or approximately 18% of its workforce, which took place during the second quarter. The Company estimates it will incur approximately $1.3 million in costs related to severance pay and other termination benefits, the majority of which will be paid in 2026.

The severance pay and other termination benefits associated with this restructuring were determined to be a one-time benefit arrangement. As such, the entire $1.3 million in estimated costs was recorded in the statements of operations when the one-time benefit arrangement was effected in May 2026. During the three and six months ended June 30, 2026, the Company paid approximately $0.4 million in severance and other termination benefits, and currently expects to pay the majority of the approximately $0.9 million remaining severance and other termination benefits included in the accrued compensation line above in 2026.