Accrued Expenses

3 Months Ended

Mar. 31, 2024

Accrued Expenses

Accrued Expenses

4. Accrued Expenses and Restructuring

Accrued expenses consist of the following as of March 31, 2024 and December 31, 2023:

	March 31,		December 31,
	2024		2023
External research and development	$	4,715	$	4,867
Personnel-related		1,356		4,690
Restructuring		948		—
Professional and consulting fees		874		845
Other		109		95
Total accrued expenses	$	8,002	$	10,497

In March 2024, the Company’s board of directors approved a strategic portfolio reprioritization and workforce reduction. As part of the workforce reduction, the Company recognized restructuring charges of $0.9 million during the three months ended March 31, 2024, primarily related to employee severance and benefits continuation. The workforce reduction was completed in April 2024. The Company did not make any payments related to the restructuring during the three months ended March 31, 2024. All employee severance and benefits continuation payments are expected to be completed by the end of the third quarter of 2024.

The following table summarizes the accrued restructuring liability activity for the Company’s workforce reduction for the three months ended March 31, 2024:

	Severance and
	Related Benefits
Accrued restructuring liability as of December 31, 2023	$	—
Restructuring charges		948
Accrued restructuring liability as of March 31, 2024	$	948