On September 27, 2021, in order to lower its existing cost structure in connection with the realignment of its business strategy, the Company announced a strategic reduction in force and notified approximately 60 full-time employees of its intention to terminate their services on or, in most cases, before November 30, 2021. Certain of the notified employees had employment agreements that provided for enhanced severance benefits. The severance benefits, apart from certain continuing Company-paid health care benefits for up to twelve months, were paid in 2021. The remaining benefits were paid in 2022, which reduced the severance benefits accrual to $0 as of December 31, 2022.

The Company incurred the following costs associated with termination benefit payments resulting from the strategic reduction in force:


	December 31,
($ in thousands)	2021
Research and development	$	2,368
General and administrative		1,289
Total severance expense	$	3,657