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Restructuring Activity
6 Months Ended
Jun. 30, 2025
Restructuring and Related Activities [Abstract]  
Restructuring Activity Restructuring Activity
In the second quarter of 2025, the Company committed to and approved a reduction of the Company’s workforce by approximately 33% across all areas of the Company, as part of the Company’s decision to streamline operations across the organization and enable the efficient progression of the Company’s portfolio. This decision was made following a strategic review aimed at reducing internal costs while minimally impacting the Company's targeted clinical stage programs to drive value over the next several years by aligning the Company's operations with long-term program development objectives. As of June 30, 2025, the restructuring activities were substantially completed.
Components of Restructuring Charges
As of June 30, 2025, the Company recognized restructuring charges of $1.0 million, including $7.4 million of cash severance and other one-time employee related termination benefit related to the workforce reduction, offset by a reversal of $6.4 million of non-cash stock compensation and bonus expenses, of which $0.6 million is reflected in research and development expenses and $0.4 million is reflected in general and administrative expenses in the accompanying unaudited condensed consolidated financial statements. The Company's restructuring accrual totaled $2.2 million as of June 30, 2025.