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Employee Benefit Plans

3 Months Ended

Mar. 31, 2025

Retirement Benefits [Abstract]

Employee Benefit Plans

Employee Benefit Plans

The Company operates a defined benefit pension plan in Switzerland (the "Plan”) and a defined contribution pension plan in the United Kingdom, in accordance with local regulations and practices. As of March 31, 2025, the Plan covers the Company’s employees in Switzerland with benefits in the event of death, disability, retirement, or termination of employment.

Components of Net Periodic Benefit Cost under the Plan

(in thousands)						Three Months Ended March 31, 2025						Three Months Ended March 31, 2024
Service Cost						$	76					$	71
Interest Cost						8						8
Expected return on plan assets						(19)						(15)
Amortization of unrecognized loss						3						3
Prior service (credit) recognized in current year						(2)						(3)
Net periodic benefit cost						$	66					$	64

The components of net periodic benefit cost other than the service cost component are included in general and administrative expense in the Company's condensed consolidated statements of operations and comprehensive loss.

Employer Contributions under the Plan

For the three months ended March 31, 2025, contributions of $70 thousand (CHF 63 thousand) were made to the Plan. The Company presently anticipates contributing an additional estimated amount of $210 thousand (CHF 189 thousand) to fund the Plan in 2025 for a total of $280 thousand (CHF 252 thousand).

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- Definition

The entire disclosure for an entity's employee compensation and benefit plans, including, but not limited to, postemployment and postretirement benefit plans, defined benefit pension plans, defined contribution plans, non-qualified and supplemental benefit plans, deferred compensation, share-based compensation, life insurance, severance, health care, unemployment and other benefit plans.

+ References

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-Topic 710
-Name Accounting Standards Codification
-Publisher FASB
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-Topic 712
-Name Accounting Standards Codification
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-Topic 715
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Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 718
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/718/tableOfContent

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