Reduction in workforce

12 Months Ended

Dec. 31, 2023

Restructuring and Related Activities [Abstract]

In April 2022, the Board of Directors of the Company approved a comprehensive restructuring plan intended to reduce operating expenses. As part of the restructuring, the Company reduced its workforce by approximately 30% across the second and third quarters of 2022. The Company incurred approximately $4.9 million in costs to implement the restructuring, comprised primarily of severance payments and continuing health care coverage over the severance period. The restructuring actions associated with these charges commenced in April 2022, and were completed by September 30, 2022.

The following tables summarizes the accrued liabilities activity recorded in connection with the reduction in workforce for the year ended December 31, 2022 (in thousands):


	Restructuring Expenses in 2022	Amounts paid in 2022
April 2022 reduction	4,940	(4,940)
Total	4,940	(4,940)

The Company recorded approximately $4.9 million in restructuring expenses as of December 31, 2022. There were no restructuring expenses recorded as of December 31, 2023.