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Restructuring and Impairment Charges
12 Months Ended
Dec. 31, 2022
Restructuring And Related Activities [Abstract]  
Restructuring and Impairment Charges

Note 14. Restructuring and Impairment Charges

 

Restructuring and impairment charges consisted of the following for the year ended December 31, 2022 (in thousands):

 

Impairment of property and equipment

$

1,548

 

Inventory obsolescence

 

1,000

 

Severance expense

 

910

 

Prepaid expenses

 

395

 

Contract termination fees

 

319

 

Total restructuring and impairment charges

$

4,172

 

 

The Company’s RIF was completed in September 2022 and impacted approximately 85% of its full-time employees, resulting in one-time severance payments totaling approximately $0.9 million. In addition, the Company discontinued enrollment of patients in its clinical trial, ceased engineering and manufacturing activities, sold or disposed 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 during the year ended December 31, 2022.