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Restructuring Actions
12 Months Ended
Dec. 31, 2017
Restructuring And Related Activities [Abstract]  
Restructuring Actions

5.

Restructuring Actions

In September 2016, the Company announced a reduction in workforce of 10 employees, or approximately 50% of the Company’s workforce, consistent with a revised strategic plan to reallocate our resources to our hemostasis programs, including our highly potent next-generation Factor VIIa variant marzeptacog alfa (activated), and our highly potent next-generation Factor IX CB 2679d/ISU304. The principal objective of the 2016 Restructuring was to enable the Company to focus its efforts and resources on advancing marzeptacog alfa (activated), and CB 2679d/ISU304, through Phase 2/3 and Phase 1/2 clinical trials, respectively.

For the year ended December 31, 2016, the Company recorded restructuring charges of $1.0 million, respectively, in R&D expense, due primarily to $0.9 million employee severance and benefits, and $0.1 million for legal and facility expenses in 2016. The restructuring balance was fully paid by December 31, 2016. There were no such charges recorded for the year ended December 31, 2017. In connection with the 2016 restructuring, the Company received proceeds on the sale of equipment of $0.9 million resulting in a gain of $0.6 million which is reported in interest and other income. There were no such proceeds during 2017.