XML 30 R20.htm IDEA: XBRL DOCUMENT v3.26.1
Restructuring
 3 Months Ended
Mar. 31, 2026
Restructuring [Abstract]  
RESTRUCTURING

NOTE 14. RESTRUCTURING

 

Starting in July 2025, the Company implemented a corporate reorganization and other cost reduction measures to extend its cash runway. These actions included a workforce reduction, refinement of the Company’s operating plan to focus on briquilimab clinical development programs in chronic urticaria, halting enrollment in its Phase 1b asthma study, discontinuation of other clinical and preclinical programs and cessation of vivarium operations. In 2025, the Company incurred restructuring charges related to workforce reduction of approximately $2.3 million, primarily related to severance payments, and recognized impairment charges of $1.1 million related to the abandonment of certain fixed assets and a right-of-use asset associated with vivarium operations.

 

As of March 31, 2026 and December 31, 2025, the Company had $0.3 million and $0.4 million, respectively, of accrued severance costs related to the termination of one employee in connection with the restructuring, which are included in accrued expenses and other current liabilities in the condensed consolidated balance sheets. The related severance payments are expected to be made over a period of approximately 12 months, through January 2027.