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Restructuring and Related Activities | 9 Months Ended
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Sep. 30, 2021
Restructuring and Related Activities [Abstract] |
Restructuring and Related Activities | 13. 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 $2,228 and $768 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 $321 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 three months ended September 30, 2021, is as follows.
|  | Lease – related exit costs |
Balance as of June 30, 2021 |  | $ | 1,795 |
Accretion |  |  | 31 |
Provision |  |  | 28 |
Cash Payment |  |  | (125 | )
Balance as of September 30, 2021 |  | $ | 1,729 |
The activity related to the restructuring liabilities for the nine months ended September 30, 2021, is as follows.
| Lease - related exit costs |  |  | Employee termination |  |  | Total |
Balance as of December 31, 2020 |  | 2,584 |  |  |  | 12 |  |  |  | 2,596 |
Accretion |  | 116 |  |  |  | — |  |  |  | 116 |
Provision |  | 28 |  |  |  | — |  |  |  | 28 |
Cash payments |  | (863 | ) |  |  | (12 | ) |  |  | (875 | )
Lease assignment to NeuBase |  | (136 | ) |  |  | — |  |  |  | (136 | )
Balance as of September 30, 2021 | $ | 1,729 |  |  | $ | — |  |  | $ | 1,729 |

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- Definition The entire disclosure for restructuring and related activities. Description of restructuring activities such as exit and disposal activities, include facts and circumstances leading to the plan, the expected plan completion date, the major types of costs associated with the plan activities, total expected costs, the accrual balance at the end of the period, and the periods over which the remaining accrual will be settled. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SAB Topic 5.P.4(e)) -URI http://asc.fasb.org/extlink&oid=115931487&loc=d3e140904-122747 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6394359&loc=d3e17939-110869 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -URI http://asc.fasb.org/topic&trid=2175745 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=6394359&loc=d3e17939-110869 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (b)(2) -URI http://asc.fasb.org/extlink&oid=6394359&loc=d3e17939-110869 + Details
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