Restructuring

3 Months Ended

Mar. 31, 2022

Restructuring And Related Activities [Abstract]

Restructuring

12. Restructuring

In March 2022, we began implementing a restructuring plan to reduce operating costs and drive future growth aligned with the strategic reorganization of our business around our MRD and Immune Medicine market opportunities. Under this restructuring plan, we reduced our workforce by approximately 100 employees.

We estimate that we will incur aggregate restructuring costs of approximately $2.0 million, all of which has been recognized in the three months ended March 31, 2022. These costs primarily relate to one-time termination benefits and ongoing benefit arrangements, both of which include severance payments and extended benefits coverage support and are contingent upon the impacted employees’ execution and non-revocation of separation agreements. Our estimated aggregate restructuring costs also include certain contract termination costs.

The activities related to our reduction in workforce were primarily completed in March 2022 and $1.4 million of the $2.0 million aggregate restructuring costs were paid as of March 31, 2022. The remaining $0.6 million in cash payments are expected to be disbursed in the year ended December 31, 2022.