Accrued Expenses

6 Months Ended

Jun. 30, 2022

Payables and Accruals [Abstract]

Accrued Expenses and Other Current Liabilities

5. Accrued Expenses and Other Current Liabilities

Accrued expenses consisted of the following (in thousands):

	June 30,		December 31,
	2022		2021
Accrued employee compensation and benefits	$	350	$	1,763
Accrued external research and development expenses		962		1,633
Accrued professional fees		740		901
Other		370		549
	$	2,422	$	4,846

In January 2022, the Company approved a restructuring plan following a review of its operations, cost structure and growth opportunities (the “Restructuring”). The Company recorded a charge of $0.4 million and $1.4 million during the three and six months ended June 30, 2022, respectively, as a result of the Restructuring, which consisted of one-time termination benefits for employee severance, benefits and related costs, and certain retention payments, which are expected to result in cash expenditures and will be paid out by December 31, 2022.

The following table summarizes the changes in the Company’s accrued restructuring balance, which are included in Accrued expenses and other current liabilities in the accompanying condensed consolidated balance sheet:

(In thousands)	2022
Beginning balance at December 31, 2021	$	—
Restructuring costs, personnel related		985
Cash paid for restructuring costs		(330	)
Ending balance at March 31, 2022		655
Restructuring costs, personnel related		412
Cash paid for restructuring costs		(765	)
Forfeitures		(31	)
Ending balance at June 30, 2022	$	271