RESTRUCTURING PLAN

12 Months Ended

Dec. 31, 2019

Restructuring and Related Activities [Abstract]

RESTRUCTURING PLAN

RESTRUCTURING PLAN

In 2019, the Company began implementing two phases of a cost restructuring plan to streamline the organization, reduce costs, and direct resources to advance cobomarsen and miR-29 mimics, including remlarsen, while reducing investments in new discovery research. The restructuring plan identified approximately 44 positions for elimination, or approximately 50% of our total workforce, primarily associated with research and development and corresponding project, general, and administrative support, and other costs related to these areas. At December 31, 2019, the Company had recorded approximately $2.0 million in restructuring expense and expects to incur another $0.2 millionduring the first half of 2020.

Of the $2.0 million in restructuring charges recorded during the year endedDecember 31, 2019, $1.7 million was recorded in research and development expenses and $0.3 million in general and administrative expenses on the consolidated statements of operations and comprehensive loss. The majority of the restructuring expense related to severance and retention transactions.

The following table summarizes the Company’s accrued restructuring liability balance and associated activity (in thousands):

	December 31, 2018		Additions		Cash Payments			December 31, 2019
Retention	$	—	$	1,013	$	(78	)	$	935
Severance and severance-related expenses	—		1,021		(441		)	580
Total restructuring liability	$	—	$	2,034	$	(519	)	$	1,515