Benefit plans

9 Months Ended

Sep. 30, 2021

Benefit plans

Benefit plans

13. Benefit plans

The Company established a defined-contribution savings plan under Section 401(k) of the Code (the “401(k) Plan”). The 401(k) Plan covers all U.S. employees and allows participants to defer a portion of their annual compensation on a pre-tax basis. Matching contributions to the 401(k) Plan may be made at the discretion of the Company’s board of directors. During the three and nine months ended September 30, 2021, the Company made contributions totaling $0.1 million and $0.2 million, respectively, and during the three and nine months ended September 30, 2020, the Company made contributions totaling $34,000 and $0.1 million, respectively, to the 401(k) Plan.

The Company provides a pension contribution plan for its employees in the United Kingdom, pursuant to which the Company may make contributions each year (“U.K Plan”). During the three and nine months ended September 30, 2021, the Company made contributions totaling $0.2 million, and $0.5 million, respectively, and during the three and nine months ended September 30, 2020, the Company made contributions totaling $0.1 million and $0.3 million, respectively, to the U.K. Plan.