Reduction in workforce

9 Months Ended

Sep. 30, 2024

Restructuring and Related Activities [Abstract]

Reduction in workforce

Reduction in workforce

In September 2024, the Company’s board of directors approved a restructuring action (the "Restructuring") following a comprehensive review of the Company’s operations. The Restructuring includes a reduction of the Company’s workforce by 94 employees, or approximately 25% of employees.

As a result of the Restructuring, the Company incurred aggregate charges of $2.8 million in restructuring costs, $2.5 million of which relates to cash expenditures for severance and employee termination-related costs to be paid out over multiple weeks through the first quarter of 2025, with the majority to be paid out by December 31, 2024, and $0.3 million in stock-based compensation expense associated with accelerated vesting of restricted stock units.

The following table summarizes the accrued liabilities activity recorded in connection with the reduction in workforce for the nine months ended September 30, 2024:

	For the nine months ended September 30,
	2024
Cash expenditure charges	$	2,543
Amount paid through September 30, 2024	—
Amounts accrued at September 30, 2024	$	2,543