Restructuring and Impairment Charges

9 Months Ended

Sep. 30, 2022

Restructuring And Related Activities [Abstract]

Restructuring and Impairment Charges

Note 13. Restructuring and Impairment Charges

Restructuring and impairment charges consisted of the following (in thousands):

	Three Months Ended		Nine Months Ended
	September 30, 2022
Impairment of property and equipment	$	—	$	1,548
Inventory obsolescence		—		1,000
Severance expense		326		910
Prepaid expenses		—		395
Contract termination fees		216		216
Total restructuring and impairment charges	$	542	$	4,069

The Company’s RIF impacted approximately 85% of its full-time employees, resulting in one-time severance payments totaling approximately $0.9 million. In addition, the Company decided to discontinue enrollment of patients in its clinical trial, cease engineering and manufacturing activities, sell or dispose of substantially all of its property and equipment, inventories and research and development supplies, resulting in impairment and inventory obsolescence charges and the write-off of prepaid research and development supplies totaling approximately $2.9 million.

As of September 30, 2022, the accrued liability balance related to severance expense was approximately $28,000 and is included in accrued expenses in the accompanying condensed balance sheet.