Accrued Expenses

6 Months Ended

Jun. 30, 2025

5. Accrued Expenses

Accrued expenses consisted of the following:


	June 30,		December 31,
	2025		2024
	(In thousands)
Accrued research and development	$	22,927	$	26,362
Employee compensation and benefits		12,405		24,075
Accrued legal and professional expenses		2,773		2,845
Accrued other		3,448		2,073
Total accrued expenses	$	41,553	$	55,355

In January 2025, the Company announced the prioritization of its current and near-term clinical programs and a strategic restructuring to streamline its operations. In connection with this portfolio prioritization and strategic restructuring, the Company reduced its employee headcount by approximately 27%. In the first quarter of 2025, the Company recognized $6.5 million of restructuring charges in the condensed consolidated statement of operations and comprehensive loss related to these actions. These charges included severance and other employee termination-related costs. The workforce reductions were substantially complete as of March 31, 2025. As of June 30, 2025, there was $1.0 million in accrued expenses recorded as “employee compensation and benefits,” related to the restructuring, which the Company expects to be paid in the second half of 2025.