In March 2025, the Company announced a reprioritization to focus resources on its ENPP1 Deficiency program, which resulted in a reduction of the Company’s workforce by approximately 25% across all areas of the Company.

The Company incurred $1.9 million of costs related to the reprioritization. The restructuring charges have been recognized in the unaudited condensed consolidated statement of operations during the three months ended March 31, 2025. These costs relate to employee severance, termination benefits and related costs. The Company does not expect to incur any additional significant costs related to the reprioritization.

The reprioritization costs are included within accrued expenses on the condensed consolidated balance sheet as of March 31, 2025 and are expected to be disbursed during the period from April 1, 2025 through December 31, 2025.

The following is a summary of the activity for accrued severance, termination benefits and related costs for the three months ended March 31, 2025:


	2025
Accrual, January 1	$	-
Charges		1,900
Cash payments		-
Accrual, March 31	$	1,900