Restructuring Plan

6 Months Ended

Jun. 30, 2018

Restructuring And Related Activities [Abstract]

Restructuring Plan

8. Restructuring Plan

   In October 2017, the Board of Directors of the Company approved a plan of termination to eliminate a number of positions effective October 20, 2017 (the “Restructuring Plan”), as part of its commitment to reduce costs following the failure of the Phase 3 VELOCITY trial of somavaratan to reach its primary endpoint. Simultaneously with the Restructuring Plan the Company established a Severance Benefit Plan (the“Plan”) for affected employees as well as a retention plan for retained employees.  The Plan provides payment of severance benefits to affected employees of the Company.

As part of the Company’s commitment to reduce operating expenses and preserve cash, the Company eliminated additional positions effective May and June 2018. The reduction included a total of 14 employees, which represented approximately 59% of its workforce as of June 26, 2018, the date affected employees were notified. Pursuant to the Plan, affected employees received certain severance benefits. For the period ended June 30, 2018, the Company incurred a one-time severance-related charge totaling approximately $3.5 million, of which $1.2 million is included within general and administrative expenses and $2.3 million is included within research and development expenses.