On May 17, 2023, the Company executed a restructuring plan (the Restructuring Plan) with regard to its commercial operations. The Restructuring Plan is a result of the PRA with Alimera (see Note 3). In connection with the Restructuring Plan, the Company, among other things, downsized its current workforce, with reductions coming primarily from its YUTIQ sales force and supporting commercial operations. The Company recorded $0 and approximately $1.4 million of YUTIQ sales force personnel and employee severance for discretionary termination benefits during the three and nine months ended September 30, 2023, upon notification of the affected YUTIQ sales force personnel and employees in accordance with ASC 420, Exit or Disposal Cost Obligations. The charges of $1.4 million were recognized in the Company’s operating results, of which $300,000, $940,000, and $165,000 were included in research and development expense, sales and marketing expense and general and administrative expense, respectively.

The Company expects the implementation of the Restructuring Plan will be substantially completed by the end of fiscal year 2023. The charges that the Company expects to incur in connection with the Restructuring Plan are subject to a number of assumptions, and actual results may differ materially. The Company may also incur additional costs not currently contemplated due to events that may occur as a result of, or that are associated with, the Restructuring Plan.

The following table summarizes the restructuring activities related to the Plan for the nine months ended September 30, 2023 (in thousands):


	Employee Severance and Benefits			Total
Beginning balance at January 1, 2023		—			—
Restructuring charges		1,405			1,405
Cash payments		(1,062	)		(1,062	)
Ending balance at September 30, 2023	$	343		$	343