RESTRUCTURING CHARGES (Tables)

9 Months Ended

Sep. 30, 2022

RESTRUCTURING CHARGES.

Schedule of employee severance, benefits and related costs

During the nine months ended September 30, 2022, the Company recorded the following activity in accrued expenses and other current liabilities on the balance sheet (in thousands):

	Nine Months Ended
	September 30, 2022
Accrued expenses, January 1, 2022	$	—
Restructuring charges		12,782
Cash payments		(1,478)
Stock-based compensation		(7,313)
Inventory write-off		(3,085)
Accrued expenses, September 30, 2022	$	906

Schedule of restructuring and related costs

During the three and nine months ended September 30, 2022, the Company recorded restructuring charges of $12.8 million related to employee severance, benefits and related costs, which were expensed as follows (in thousands):

	Three Months Ended		Nine Months Ended
	September 30, 2022		September 30, 2022
Cost of goods sold	$	3,085	$	3,126
Research and development(1)		—		8,117
Sales and marketing		—		667
General and administrative		—		489
Interest and other (expense) income, net		—		383
Total restructuring charges(2)	$	3,085		12,782

⁽¹⁾ Includes $7.3 million of stock-based compensation expense incurred in connection with the Initiative.

⁽²⁾ Lease termination costs associated with the Initiative have yet to be determined, pending completion of the facility rationalization assessment. Other costs related to operational savings measures associated with the Initiative have yet to be determined.