Restructuring Activities

9 Months Ended

Sep. 30, 2016

Restructuring And Related Activities [Abstract]

Restructuring Activities

11. Restructuring Activities

On October 3, 2016, the Company announced a 22% reduction in headcount as part of a major corporate restructuring with the objective of prioritizing its research and development on a focused set of systems biology-derived oncology products and strengthening its financial runway. On this same date, the Company also announced the resignation of Robert Mulroy, the Company’s former President and Chief Executive Officer.  

Under this corporate restructuring, the Company recognized total restructuring expenses of $0.8 million during the three and nine months ended September 30, 2016 related to contractual termination benefits for employees with pre-existing severance arrangements. The Company also expects to incur approximately $4.0 million of additional restructuring expenses during the fourth quarter of 2016 related to one-time employee termination benefits. These one-time employee termination benefits are comprised of severance, benefits and related costs, all of which are expected to result in cash expenditures. The Company anticipates that the majority of these payments will be made during the fourth quarter of 2016.

The following table summarizes the charges related to the restructuring activities as of September 30, 2016:

(in thousands)	Expenses		Payments		Accrued restructuring expenses at September 30, 2016
Severance, benefits and related costs due to    workforce reduction	$	809	$	—	$	809
Totals	$	809	$	—	$	809