Accrued Expenses

9 Months Ended

Sep. 30, 2024

Accrued Expenses

Accrued Expenses

4. Accrued Expenses and Restructuring

Accrued expenses consist of the following as of September 30, 2024 and December 31, 2023:

	September 30,		December 31,
	2024		2023
External research and development	$	5,143	$	4,867
Personnel-related		3,360		4,690
Restructuring		15		—
Professional and consulting fees		1,137		845
Other		138		95
Total accrued expenses	$	9,793	$	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 nine months ended September 30, 2024, primarily related to employee severance, benefits continuation and outplacement service costs. The workforce reduction was completed in April 2024. The Company made payments of $0.9 million related to the restructuring during the nine months ended September 30, 2024. All remaining employee severance, benefits continuation and outplacement service cost payments were completed in October 2024.

The following table summarizes the accrued restructuring liability activity for the Company’s workforce reduction for the nine months ended September 30, 2024:

	Severance and
	Related Benefits
Accrued restructuring liability as of December 31, 2023	$	—
Restructuring charges		937
Restructuring payments		(922)
Accrued restructuring liability as of September 30, 2024	$	15