XML 33 R19.htm IDEA: XBRL DOCUMENT v3.8.0.1
Restructuring Costs
 12 Months Ended
Dec. 31, 2017
Restructuring and Related Activities [Abstract]  
Restructuring Costs
12. Restructuring Costs

In June 2016, the Company halted investment in PNT2258 and the DNAi platform and closed the related Phase 2 clinical trials to further enrollment. As a result, the Company closed its research facility in Plymouth, Michigan, renegotiated and terminated certain contracts, and implemented staff reductions in the United States and Canada.

The following table summarizes restructuring activities for the years ended December 31, 2017 and December 31, 2016:

 

     Contract
Termination		     Employee
Termination		     Asset
Impairment		     Total  
     (in thousands)  

Accrual balance at December 31, 2015

    $ —       $ —       $ —       $ —    

Restructuring costs charged to research and development expense

      2,249       —         —         2,249  

Restructuring costs charged to general and administrative expense

      5       332       130       467  

Non-cash charges

      (681 )      —         (130 )      (811 ) 

Cash payments

      (909 )      (233 )      —         (1,142 ) 
  

 

 

    

 

 

    

 

 

    

 

 

  

Accrual balance at December 31, 2016

    $ 664     $ 99     $ —       $ 763  

Adjustments to research and development expense

      (69 )      —         —         (69 ) 

Cash payments

      (458 )      (99 )      —         (557 ) 
  

 

 

    

 

 

    

 

 

    

 

 

  

Accrual balance at December 31, 2017

    $ 137     $ —       $ —       $ 137  
  

 

 

    

 

 

    

 

 

    

 

 

  

The accrual balance, which was included in accrued liabilities in the accompanying balance sheet, is currently expected to be substantially paid by the end of 2018.