Restructuring and Related Activities

12 Months Ended

Dec. 31, 2021

Restructuring And Related Activities [Abstract]

Restructuring and Related Activities

15. RESTRUCTURING AND RELATED ACTIVITIES

During the year ended December 31, 2019, the Company completely vacated its leased facilities in Woburn, Massachusetts. In connection with vacating the leased spaces, the Company recorded a discounted lease-related restructuring liability, which was calculated as the present value of the estimated future facility costs for which the Company would obtain no future economic benefit over the term of the lease, reduced for actual or estimated sublease rentals.

In July 2020, the Company initiated a restructuring plan to reduce operating expense as a result of the disposal of PNAi technology. The restructuring plan included reducing the number of employees, vacating leased facilities, and ceasing use of leased equipment.

As a result of this restructuring plan, the Company completely vacated its leased facilities in South San Francisco, California, which was subleased to a third party in November 2020, and returned certain leased equipment to the lessor. The Company recorded a discounted lease-related restructuring liability of $2.2 million and $0.8 million for the abandonment of the leased facilities and equipment, which was calculated as the present value of the estimated future lease costs for which the Company would obtain no future economic benefit over the term of the leases. In addition, the Company recognized restructuring liability of $0.3 million related to severance and other employee termination costs related to the reduction in the number of employees.

The activity related to the restructuring liabilities for the year ended December 31, 2021, is as follows (in thousands).

	Lease - related exit costs			Employee termination			Total
Balance as of December 31, 2020	$	2,584		$	12		$	2,596
Accretion		145			—			145
Provision		28			—			28
Cash payments		(987	)		(12	)		(999	)
Lease assignment to NeuBase		(136	)		—			(136	)
Balance as of December 31, 2021	$	1,634		$	—		$	1,634