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Subsequent Events
9 Months Ended
Sep. 30, 2025
Subsequent Events [Abstract]  
Subsequent Events Subsequent Events
In October 2025, we entered into an enzyme supply assurance agreement with Merck Sharp & Dohme LLC (“Merck”) for enzymes used by Merck for pharmaceutical manufacturing. Pursuant to the terms of the agreement, we are entitled to receive a one-time non-refundable and non-creditable payment of $37.8 million, which is expected to be received during the fourth quarter of 2025.
On November 6, 2025, in alignment with our enhanced strategic focus, we publicly announced that we are implementing a workforce reduction of approximately 24%. This measure was implemented in support of the Company’s organizational streamlining to focus on our ECO Synthesis platform. We expect that the payment of post-employment benefits to impacted employees, as well as the payment of other expenses such as related tax costs, will result in the recognition of an additional expense of approximately $3.5 million. We anticipate this expense will be recognized in the fourth quarter of 2025 and paid primarily during the same period. We expect the workforce reduction to be substantially completed by January 2026. These charges that we expect to incur are subject to a number of assumptions, including legal requirements in applicable jurisdictions, and actual expenses may differ materially from the estimates disclosed above.