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Accrued expenses and other current liabilities
3 Months Ended
Mar. 31, 2017
Accrued expenses and other current liabilities  
Accrued expenses and other current liabilities

 

7Accrued expenses and other current liabilities

 

Accrued expenses and other current liabilities include the following items:

 

 

 

March 31,

 

December 31,

 

 

 

2017

 

2016

 

 

 

in thousands

 

Accruals for services provided by vendors-not yet billed

 

$

3,775

 

$

4,150

 

Personnel related accruals

 

2,247

 

4,381

 

Social security and other taxes

 

1,102

 

1,178

 

Other current liabilities

 

30

 

57

 

 

 

 

 

 

 

Total

 

$

7,154

 

$

9,766

 

 

 

 

 

 

 

 

 

 

In November 2016, the Company announced a plan to restructure its activities as a result of a company-wide strategic review with the aim of refocusing its pipeline, consolidating its manufacturing capabilities into its Lexington, Massachusetts site, reducing operating costs and enhancing overall execution. Following the announcement of the plan, the Company recognized an accrual for termination benefits contractually agreed with four executives of $1.1 million. In January 2017, the Company entered into termination agreements with certain non-executive employees and recognized related termination costs of $0.5 million for services rendered by these employees during 2017. The change in the accrual of termination benefits (recognized within research and development expenses) for the three months ended March 31, 2017 was:

 

 

 

Accrued
termination
benefits

 

 

 

in thousands

 

Balance at December 31, 2016

 

$

1,148

 

Accrued through profit and loss

 

241

 

Payments

 

(977

)

Currency translation effects

 

6

 

 

 

 

 

Balance at March 31, 2017

 

$

418